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Stock Market & Financial Investment News

News Breaks
January 28, 2014
12:19 EDTBHI, DO, HAL, NBR, RDC, NE, SLB, RIG, WFTAnalysts: Deepwater drillers could fall 35%, Barron's reports
Barclays analysts James West and Zachary Sadow believe the deepwater drillers still have downside potential as the market works through excess capacity, according to Barron's. Reference Link
News For NE;HAL;WFT;RDC;DO;RIG;NBR;BHI;SLB From The Last 14 Days
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August 26, 2015
08:47 EDTSLBSchlumberger says the acquisition could increase sales base by 20%
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07:58 EDTSLB, HALC&J Energy downgraded to Neutral from Overweight at JPMorgan
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07:06 EDTNBRNabors Industries board authorizes repurchase up to $400M of common shares
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07:00 EDTSLBSchlumberger volatility elevated into acquiring Cameron in a $14.8B deal
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06:21 EDTSLBSchlumberger to host conference call
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06:11 EDTSLBCameron volatility elevated into Schlumberger agrees to acquire in $14.8B deal
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06:04 EDTSLBSchlumberger agrees to acquire Cameron in deal valued at $14.8B
Schlumberger Limited (SLB) and Cameron (CAM) jointly announced a definitive merger agreement in which the companies will combine in a stock and cash transaction. The agreement was unanimously approved by the boards of both companies. Under the terms of the agreement, Cameron shareholders will receive 0.716 shares of Schlumberger common stock and a cash payment of $14.44 in exchange for each Cameron share. Based on the closing stock prices of both companies on August 25, the agreement places a value of $66.36 per Cameron share, representing a 37.0% premium to Cameron's 20-day volume weighted average price of $48.45 per share, and a 56.3% premium to Cameron's most recent closing stock price of $42.47 per share. Upon closing, Cameron shareholders will own approximately 10% of Schlumberger's outstanding shares of common stock. The total transaction has a value of $14.8B as of August 25. Schlumberger expects to realize pretax synergies of approximately $300M-$600M in the first and second year, respectively. Initially, the synergies are primarily related to reducing operating costs, streamlining supply chains, and improving manufacturing processes, with a growing component of revenue synergies in the second year and beyond. Schlumberger also expects the combination to be accretive to EPS by the end of the first year after closing. The transaction combines two complementary technology portfolios into a "pore-to-pipeline" products and services offering to the global oil and gas industry. On a pro forma basis, the combined company had 2014 revenues of $59B. The transaction is subject to Cameron shareholders' approval, regulatory approvals and other customary closing conditions. It is anticipated that the closing of the transaction will occur in Q1 of 2016.
06:01 EDTSLBSchlumberger agrees to acquire Cameron in deal valued at $14.8B
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August 25, 2015
18:47 EDTRIGOn The Fly: After Hours Movers
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18:11 EDTNE, RIG, RDC, DOTranocean tanks after proposing dividend cancellations, peers follow
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17:00 EDTRIGTransocean may cancel Q3, Q4 dividend
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August 21, 2015
13:05 EDTBHIBaker Hughes reports U.S. rig count up 1 to 885
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09:32 EDTNENoble Corp. upgraded to Buy from Accumulate at Global Hunter
Global Hunter upgraded Noble Corp to Buy and lowered its price target to $14 from $16. The firm believes Noble is well positioned to manage through a downturn with strong liquidity and a reasonable valuation.
August 19, 2015
18:52 EDTRIGTransocean provides fleet update summary
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13:30 EDTWFTOptions with increasing put volume;
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11:09 EDTRIGStocks with call strike movement; ABX RIG
Barrick Gold (ABX) January 9 call option implied volatility increased 2% to 59, Transocean (RIG) November 16 call option implied volatility increased 3% to 57 according to iVolatility.
07:33 EDTSLBCameron and Schlumberger's Subsea to supply pump system for Stones development
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August 17, 2015
12:16 EDTRIGStocks with call strike movement; RIG TWTR
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08:04 EDTSLBAccenture to acquire Schlumberger Business Consulting
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05:52 EDTWFTStocks with implied volatility movement; XLU WFT
Stocks with implied volatility movement; Utilities SPDR (XLU) 16, Weatherford (WFT) 61 according to iVolatility.
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