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Stock Market & Financial Investment News

News Breaks
December 10, 2013
19:12 EDTPDSPrecision Drilling sees 2014 capital expenditures of $504M
Precision Drilling Corporation announced that planned capital expenditures for 2014 are $504M. The 2014 capital expenditure plan includes $255M for expansion capital, $192M for sustaining and infrastructure expenditures, and $57M to upgrade existing rigs. The company expects that the $504M will be split $468M in the Contract Drilling segment and $36M in the Completion and Production Services segment. Precision's expansion capital plan includes five new build drilling rigs and the completion and deployment of six previously announced new build drilling rigs. The company anticipates 2013 capital expenditures to be approximately $561M, a $48M decrease from previous guidance. Carry forward capital expenditures of $183M have been included in the 2014 capital expenditure guidance of $504M.
News For PDS From The Last 14 Days
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July 24, 2014
06:30 EDTPDSPrecision Drilling reports Q3 EPS (C$0.02) vs. C$0.00 last year
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July 23, 2014
10:02 EDTPDSOn The Fly: Analyst Upgrade Summary
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09:10 EDTPDSPrecision Drilling upgraded to Accumulate from Hold at Tudor Pickering
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July 16, 2014
10:00 EDTPDSOn The Fly: Analyst Upgrade Summary
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09:23 EDTPDSOn The Fly: Pre-market Movers
HIGHER: Time Warner (TWX), up 15% after company confirmed that it rejected an $80B takeover offer from 21st Century Fox (FOX, FOXA), as had been reported earlier this morning... Apple (AAPL), up 2% after announcing an enterprise mobile partnership with IBM (IBM), which is also up 2%... International Game (IGT), up 9.5% after agreeing to be acquired by GTECH for $4.7B in cash and stock... FireEye (FEYE), up 5% after shares upgraded at Goldman... Precision Drilling (PDS), up 4% after announcing strategic agreement with Schlumberger (SLB), upgraded at Deutsche Bank... Mellanox (MLNX), up 4.7% following upgrade at Jefferies. UP AFTER EARNINGS: Intel (INTC), up 5.4%... HCA Holdings (HCA), up 6%... Textron (TXT), up 3.2%... Abbott (ABT), up 1%. DOWN AFTER EARNINGS: PNC Financial (PNC), down 2.5%... MGIC Investment (MTG), down 3.6%. LOWER: Yahoo (YHOO), down 3% after downgraded at CRT Capital following second quarter earnings report... Ares Capital (ARCC), down 2.5% after filing to sell 11.85M shares of common stock... Nationstar (NSM), down 2.4% after downgraded at Wells Fargo... Walter Investment (WAC), which was also downgraded at Wells Fargo, down 1.6%.
06:59 EDTPDSPrecision Drilling upgraded to Buy from Hold at Deutsche Bank
Deutsche Bank upgraded Precision Drilling to Buy citing improved commodity pricing and a clearer path forward on LNG related drilling. The firm raised its price target for shares to C$16 from C$14.
06:12 EDTPDSPrecision Drilling announces strategic agreement with Schlumberger
Precision Drilling (PDS) announced it had entered into a strategic technology and service agreement and marketing alliance with Schlumberger (SLB). The agreement aims to increase the industrialization of unconventional drilling in North America through an engineered approach that utilizes Precision's Tier 1 drilling rigs and allows Precision access to Schlumberger's bottomhole assembly and services. The agreement applies to Canada and the Lower 48 states in the U.S. and includes contract drilling services, downhole drilling and measurement technology, engineering expertise and operational training. Through this agreement, Precision will continue to expand its integrated directional drilling services utilizing Schlumberger's downhole tools and related services supported by drilling engineering and modeling, component integration, industry leading subsurface knowledge and expertise, and high-quality measurements.

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