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Stock Market & Financial Investment News

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July 11, 2014
16:38 EDTNENoble Corp. board approves spin-off of Paragon Offshore
Noble Corporation announced that its board of directors has approved the spin-off of Paragon Offshore, a wholly-owned subsidiary of Noble, through a pro rata distribution of an aggregate of 84,753,393 Paragon ordinary shares to the holders of Noble ordinary shares. Noble shareholders will receive one ordinary share of Paragon for every three ordinary shares of Noble held at 5:00 p.m., New York City time, on the record date of the distribution, July 23. No fractional Paragon shares will be issued; however, shareholders entitled to receive a fractional Paragon share in the distribution will instead receive the cash value of that fractional share. Subject to the satisfaction of the conditions to the spin-off, the distribution is expected to occur on August 1. Following the distribution of the Paragon ordinary shares, Paragon will be a separate, publicly traded company, and Noble will not retain any ownership interest in Paragon. Paragon has applied to list its ordinary shares on the New York Stock Exchange under the symbol "PGN."
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July 29, 2015
19:32 EDTNEOn The Fly: After Hours Movers
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17:19 EDTNENoble Corp. reports Q2 EPS 64c, consensus 52c
Reports Q2 revenue $794M, consensus $770.08M.
July 27, 2015
06:20 EDTNEU.S. oil firms preparing for extended job cuts, WSJ reports
U.S. energy companies intend to cut more jobs, sell more assets, and engage in more financial maneuvers to deal with the recent drop in U.S. crude-oil prices to below $50 a barrel, the Wall Street Journal reports. Companies have started to warn that more layoffs will come, particularly Halliburton (HAL) and Baker Hughes (BHI), who disclosed last week that they had cut 27,000 jobs between them, the report says. Job cuts for the industry are beginning to extend to engineers and scientists, the report adds. Publicly traded companies in oil industry include BP (BP), Chevron (CVX), ConocoPhillips (COP), Exxon Mobil (XOM), Royal Dutch Shell (RDS.A) and Total (TOT). Other publicly traded companies in the space include Baker Hughes (BHI), Diamond Offshore (DO), Halliburton (HAL), Nabors Industries (NBR), Noble Corp. (NE), Rowan Companies (RDC), Schlumberger (SLB), Transocean (RIG) and Weatherford (WFT). Reference Link

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