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Stock Market & Financial Investment News

News Breaks
January 23, 2014
08:10 EDTESV, RIG, DO, NE, RDCUltra-deepwater drillers entering a near-term bear cycle, says UBS
UBS believes ultra-deepwater market is entering a period of over-supply and that the jackup markets will reach oversupply in 2015. The firm believes there could ba a 12-18 month downturn as new rigs enter the market and E&P spending slows. The firm expects stock prices to remain under pressure and reduced estimates and downgraded Rowan Companies (RDC) to Neutral from Buy, and cut estimates for Diamond Offshore (DO), Ensco (ESV), Noble Corp. (NE), and Transocean (RIG).
News For RDC;DO;ESV;NE;RIG From The Last 14 Days
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July 29, 2015
19:32 EDTNEOn The Fly: After Hours Movers
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17:30 EDTESVEnsco reports Q2 cont-op EPS $1.18, consensus $1.05
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17:19 EDTNENoble Corp. reports Q2 EPS 64c, consensus 52c
Reports Q2 revenue $794M, consensus $770.08M.
11:18 EDTRIGStocks with call strike movement; FCX RIG
Freeport McMoRan (FCX) January 14 call option implied volatility decreased 4% to 55, Transocean (RIG) January 18 call option implied volatility decreased 2% to 52 according to IVolatility.
July 27, 2015
06:20 EDTNE, RDC, RIG, DOU.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
July 20, 2015
07:10 EDTRDCRowan Companies reports fleet contract status update as of July 20, 2015
Rowan Companies announced that its report of drilling rig status and contract information has been updated as of July 20, 2015. The company continues to estimate planned out-of-service time for the second quarter and full-year of 2015 to range from 3% to 6% for its jack-ups and drillships, subject to fleet repositioning and market conditions. No operational downtime is included in projected out-of-service days, but the company estimates jack-up operational downtime to account for approximately 2.5% of in-service days in current and future quarters. Rowan continues to expect drillship operational downtime to be approximately 5% after a break-in period of approximately six months up to one year. Out-of-service days are days where a rig is out-of-service and is not able to earn revenue. The company may be compensated for certain out-of-service days such as shipyard stays or transit periods preceding a contract. However, any such compensation is deferred and recognized over the period of drilling operations. Operational downtime is when a rig is under contract and unable to conduct planned operations due to equipment breakdowns or procedural failures. Unless otherwise indicated, all day rates on the fleet status include estimated amortization of contract mobilization/modification revenues. However, day rates exclude approximately $20 to $30 million of other miscellaneous aggregate annual revenue the company receives during rig operations. Day rates also exclude rebillable revenues which are equally offset by drilling expenses.
July 16, 2015
19:07 EDTESVConocoPhillips provides notice of termination for ENSCO DS-9 drillship contract
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19:04 EDTESVOn The Fly: After Hours Movers
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