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Stock Market & Financial Investment News

News Breaks
December 10, 2013
19:14 EDTPDSPrecision Drilling says active drilling rig count increasing throughout Q4
Precision's active drilling rig count in both Canada and the United States has been increasing throughout Q4. Precision has 109 active drilling rigs in Canada, 93 in the United States and 12 in international locations. The company expects Precision's Canadian drilling rig count to remain at current levels until industry activity breaks for the holiday season before returning to higher activity after the first of the year. The company expects its Q1 peak activity levels to be similar to winter 2013. In the United States, the company expects recent market share gains to be maintained in the near term and activity levels to increase or decrease with industry activity. Precision currently has 200 Tier 1 rigs and will have 211 Tier 1 drilling rigs upon delivery of all announced new builds, up from 93 Tier 1 rigs in 2009. To date in 2013, the company has completed and delivered eight new build drilling rigs.
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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