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Stock Market & Financial Investment News

News Breaks
January 3, 2013
12:27 EDTRIG, BPTransocean announces $1.4B settlement with Justice Department
Transocean announced that it has reached an agreement with the U.S. Department of Justice to resolve certain outstanding civil and potential criminal claims against the company arising from the 2010 accident involving the Deepwater Horizon in the Gulf of Mexico. As part of this resolution, a Transocean subsidiary has agreed to plead guilty to one misdemeanor violation of the Clean Water Act for negligent discharge of oil into the Gulf of Mexico and pay $1.4B in fines, recoveries and penalties. This resolution will result in the Department of Justice concluding its criminal investigation of Transocean and settling its claims for civil penalties against the company relating to the spill from BP's (BP) Macondo well. The company intends to satisfy its payment obligations over a period of five years, using cash on hand and cash flow from operations. At September 30, Transocean had accrued an estimated loss contingency of $1.5B associated with claims made by the Department of Justice. Any potential claims associated with the Natural Resources Damage Assessment process are excluded from the agreement with the Department of Justice, the company said.
News For RIG;BP From The Last 14 Days
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October 17, 2014
10:00 EDTRIGOn The Fly: Analyst Downgrade Summary
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08:06 EDTRIGTransocean downgraded to Market Perform from Outperform at Cowen
As previously reported Cowen downgraded Transocean to Market Perform from Outperform. The firm downgraded shares given the current market weakness, relatively older fleet and below average contracts for the next two years. Price target lowered to $30 from $39.
07:01 EDTRIGTransocean downgraded to Market Perform from Outperform at Cowen
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October 16, 2014
13:54 EDTBPGulf states to oppose OPEC oil production ceiling cut, WSJ says
Despite the recent turmoil in the oil market, Gulf nations including Saudi Arabia, Kuwait and the United Arab Emirates are seen as opposing OPEC oil-production ceiling cuts at next month's meeting, says the Wall Street Journal. Publicly traded companies in the space include BP (BP), Chevron (CVX), ConocoPhillips (COP), Exxon Mobil (XOM), Royal Dutch Shell (RDS.A) and Total (TOT). Reference Link
October 15, 2014
17:03 EDTRIGTransocean receives $610M in new contracts since September 22 fleet update
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11:58 EDTRIGStocks with call strike movement; WMB RIG
Williams (WMB) January 55 call option implied volatility increased 8% to 55, Transocean (RIG) January 5 call option implied volatility increased 5% to 48 according to IVolatility.
10:02 EDTRIGOn The Fly: Analyst Initiation Summary
Today's noteworthy initiations include: Atwood Oceanics (ATW) initiated with a Buy at ISI Group... Baker Hughes (BHI) initiated with a Buy at Citigroup... Basic Energy (BAS) initiated with a Buy at ISI Group... C&J Energy (CJES) initiated with a Buy at ISI Group... CARBO Ceramics (CRR) initiated with a Hold at ISI Group... CHC Group (HELI) initiated with a Buy at ISI Group... Cameron (CAM) initiated with a Buy at ISI Group... Chart Industries (GTLS) initiated with a Buy at ISI Group... Core Laboratories (CLB) initiated with a Buy at ISI Group... Diamond Offshore (DO) initiated with a Sell at ISI Group... Dresser-Rand (DRC) initiated with a Sell at ISI Group... Dril-Quip (DRQ) initiated with a Buy at ISI Group... Ensco (ESV) initiated with a Buy at ISI Group... FIS (FIS) initiated with a Market Perform at BMO Capital... FMC Technologies (FTI) initiated with a Buy at ISI Group... GoPro (GPRO) initiated with a Sector Perform at Pacific Crest... Halliburton (HAL) initiated with a Buy at ISI Group... Helmerich & Payne (HP) initiated with a Neutral at Citigroup... Hercules Offshore (HERO) initiated with a Sell at ISI Group... Key Energy (KEG) initiated with a Buy at ISI Group... Maxwell (MXWL) reinstated with a Buy at Canaccord... Nabors Industries (NBR) initiated with a Buy at ISI Group... Noble Corp. (NE) initiated with a Buy at ISI Group... Oceaneering (OII) initiated with a Buy at ISI Group... Paragon Offshore (PGN) initiated with a Buy at ISI Group... Parker Drilling (PKD) initiated with a Buy at ISI Group... Patterson-UTI (PTEN) initiated with a Buy at Citigroup... Peabody (BTU) initiated with an Underperform at Imperial Capital... RPC, Inc. (RES) initiated with a Buy at Citigroup... Receptos (RCPT) initiated with a Buy at Goldman... Rowan Companies (RDC) initiated with a Buy at ISI Group... Schlumberger (SLB) initiated with a Buy at ISI Group... Sensata (ST) resumed with a Buy at Citigroup... Tidewater (TDW) initiated with a Hold at ISI Group... Transocean (RIG) initiated with a Sell at ISI Group... Weatherford (WFT) initiated with a Buy at ISI Group.
07:44 EDTBPExxon, Shell behind rivals in lowering greenhouse gas emissions, WSJ reports
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07:05 EDTRIGTransocean initiated with a Sell at ISI Group
Target $27.
October 13, 2014
06:36 EDTBPSaudi Arabia content to let oil prices stay low, Reuters reports
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October 12, 2014
13:53 EDTBPKuwaiti Minister says OPEC unlikely to cut production, WSJ says
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13:45 EDTBPSaudis take aggressive oil measures in Europe, WSJ says
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October 10, 2014
09:05 EDTBPBP begins $1.1B North Sea project, Bloomberg says
BP CEO Bob Dudley said that the company is poised to begin a project worth close to $1.1B in the North Sea this month, which is anticipated to supply oil and gas into the next ten years, according to Bloomberg, citing comments from Dudley. Reference Link
October 9, 2014
11:37 EDTRIGStocks with call strike movement; RIG APC
Transocean (RIG) January 34 call option implied volatility increased 5% to 38, Anadarko (APC) January 115 call option implied volatility increased 8% to 39 according to IVolatility.
10:00 EDTRIGOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: Acuity Brands (AYI) upgraded at Oppenheimer... Agnico-Eagle (AEM) upgraded to Buy from Hold at Desjardins... Apple (AAPL) upgraded to Outperform from Perform at Oppenheimer... Bank of Montreal (BMO) upgraded to Buy from Hold at Canaccord... Basic Energy (BAS) upgraded to Hold from Underperform at Jefferies... BreitBurn Energy (BBEP) upgraded to Outperform from Perform at Oppenheimer... Golden Minerals (AUMN) upgraded at Roth Capital... Helmerich & Payne (HP) upgraded to Buy from Hold at Jefferies... II-VI (IIVI) upgraded to Buy from Neutral at DA Davidson... LivePerson (LPSN) upgraded at Credit Suisse... Luminex (LMNX) upgraded to Market Perform at Cowen... MGM Resorts (MGM) upgraded at Craig-Hallum... New Gold (NGD) upgraded to Buy from Hold at Desjardins... New Source Energy (NSLP) upgraded to Outperform from Perform at Oppenheimer... Pacific Coast Oil (ROYT) upgraded to Buy from Hold at Stifel... Pioneer Energy (PES) upgraded to Buy from Hold at Jefferies... Precision Drilling (PDS) upgraded to Strong Buy from Outperform at Raymond James... Randgold (GOLD) upgraded to Overweight from Neutral at HSBC... Resource Capital (RSO) upgraded to Buy from Hold at MLV & Co.... Toyota (TM) upgraded to Buy from Neutral at BofA/Merrill... Transocean (RIG) upgraded to Outperform from Sector Perform at Iberia... Universal Technical (UTI) upgraded to Outperform from Market Perform at Wells Fargo... Vulcan Materials (VMC) upgraded to Buy from Neutral at Longbow.
06:26 EDTRIGTransocean upgraded to Outperform from Sector Perform at Iberia
October 7, 2014
07:27 EDTBPEU repreive on oil sands label a victory for Canada, WSJ says
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October 6, 2014
17:31 EDTBPForest Oil agrees to purchase Texas gas properties for $20M
Forest Oil Corporation (FST) said in a regulatory filing that it had agreed to purchase certain oil and gas properties located in the state of Texas together with various other related interests, rights, wells, leasehold interests, records, equipment, and other assets from BP America Production Company, a subsidiary of BP (BP), and Brammer Engineering pursuant to a closing letter agreement dated September 18 from BP, and accepted by Forest and Brammer on the closing date and a deed and assignment and bill of sale dated as of the closing date by and among Forest and the sellers. The assets exclude, among other things, certain rights, claims, credits, fee mineral interests, proprietary data, and records. The total consideration to be paid by Forest for the assets is $20M in cash, subject to customary adjustments to reflect the operation of the oil and gas assets prior to the closing, title defects, and unresolved consents to assignment and environmental defects. There are no relationships between Forest or any of Forestís officers, directors, or affiliates, on the one hand, and sellers, on the other hand.
05:44 EDTRIGStocks with implied volatility movement; TKMR RIG
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