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Stock Market & Financial Investment News

News Breaks
August 4, 2014
10:28 EDTHERO, RDC, RIG, PACD, SDRL, ESV, ORIG, ATW, DOTransocean, peers slip after Deutsche downgrades several in sector
Shares of companies that provide offshore drilling services are falling after Deutsche Bank wrote that investors are underestimating the weakness of the sector's dynamics and lowered it ratings on several of the stocks in the industry. WHAT'S NEW: The rates and utilization of older drilling rigs are dropping rapidly and significantly, Deutsche Bank analyst Mike Urban wrote in a note to investors earlier today. Meanwhile, the amount of rigs available continues to increase quickly, Urban wrote. Investors believe that self-elevating rigs, known as jackups, will not suffer similar price decline, the analyst stated. However, the supply of jack-ups is poised to increase "dramatically" in the second half of 2014 and through 2017, Urban believes. Demand is highly unlikely to keep up with supply growth and jackup rates and utilization should consequently be pressured starting in the second half of 2014 and well into 2015, Urban believes. Offshore drilling stocks are likely to drop an average of 13% from current levels, and consensus estimates for the sector are an average of 23% too high, Urban estimated. He downgraded Diamond Offshore (DO), Ensco (ESV), and Transocean (RIG) to Sell from Hold. The analyst downgraded Noble Corp (NE) to Hold from Buy. Urban kept Hold ratings on Atwood Oceanics (ATW), Rowan Companies (RDC), and Seadrill Limited (SDRL). He maintained Buy ratings on Hercules Offshore (HERO), Ocean Rig (ORIG) and Pacific Drilling (PACD). PRICE ACTION: In early trading, Transocean fell 2.3% to $39.53, Diamond Offshore lost 0.3% to $46.30, Ensco lost 0.9% to $50.49, Noble Corp. gained 0.6% to $26.93, Atwood Oceanics fell 1% to $48, Rowan declined 1% to $30.29, Seadrill dropped 0.6% to $35.96.
News For RIG;DO;ESV;RDC;ATW;SDRL;HERO;ORIG;PACD From The Last 14 Days
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February 24, 2015
16:06 EDTRIGOptions Update; February 24, 2015
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12:58 EDTRIGTransocean falls, levels to watch
The stock is down by over 2.4% to $15.84 at time of writing. At that price next major support is at the 52-week low at $14.50. Resistance is at $16.42, the high of the day. Susquehanna earlier downgraded the name to Negative, and cut its price target to $12.
February 23, 2015
16:00 EDTRIGOptions Update; February 23, 2015
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09:59 EDTRIGOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: Antofagasta (ANFGY) downgraded to Sell from Neutral at Goldman... Arch Coal (ACI) downgraded to Sell from Buy at Argus... BHP Billiton (BHP) downgraded to Equal Weight from Overweight at Morgan Stanley... Beazer Homes (BZH) downgraded to Neutral from Buy at Compass Point... Boeing (BA) downgraded to Sell from Neutral at Goldman... Century Communities (CCS) downgraded to Neutral from Overweight at JPMorgan... CyberArk (CYBR) downgraded to Underweight from Neutral at JPMorgan... DirecTV (DTV) downgraded to Hold from Buy at Brean Capital... Enerplus (ERF) downgraded to Hold from Buy at Desjardins... Fiserv (FISV) downgraded to Neutral from Buy at Monness Crespi... GP Strategies (GPX) downgraded to Neutral from Buy at B. Riley... Interactive Brokers (IBKR) downgraded to Market Perform at Keefe Bruyette... MRC Global (MRC) downgraded at BB&T... Precision Castparts (PCP) downgraded to Neutral from Buy at Goldman... Quest Diagnostics (DGX) downgraded at BofA/Merrill... Rio Tinto (RIO) downgraded to Equal Weight from Overweight at Morgan Stanley... Roth Capital downgraded Spectrum (SPPI) on court case loss... Royal Dutch Shell (RDS.A) downgraded to Sector Perform from Outperform at Howard Weil... Ryland Group (RYL) downgraded to Neutral from Buy at Compass Point... Salix (SLXP) downgraded to Market Perform from Outperform at Leerink... Standard Pacific (SPF) downgraded to Neutral from Buy at Compass Point... Superior Energy (SPN) downgraded to Neutral from Outperform at Credit Suisse... Transocean (RIG) downgraded to Negative from Neutral at Susquehanna... Vale (VALE) downgraded to Equal Weight from Overweight at Morgan Stanley.
09:30 EDTRDCRowan Companies downgraded to Equalweight from Overweight at Capital One
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09:25 EDTRIGOn The Fly: Pre-market Movers
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08:09 EDTRIGTransocean downgraded to Negative from Neutral at Susquehanna
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08:01 EDTRIGTransocean downgraded to Negative from Neutral at Susquehanna
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07:37 EDTRDC, ATWCredit Suisse to hold a summit
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05:23 EDTPACDPacific Drilling backs FY15 revenue efficiency guidance of 92%-96%
Backs FY15 contract drilling expenses guidance of $500M-$525M.
05:22 EDTPACDPacific Drilling backs Q1 revenue efficiency guidance of 91%-95%
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05:21 EDTPACDPacific Drilling reports Q4 EPS 32c, consensus 29c
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February 19, 2015
04:26 EDTRIGStocks with implied volatility movement; TSO RIG
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February 18, 2015
14:18 EDTRIGTransocean February volatility increases into Q4 and outlook
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10:05 EDTRIG, RDC, ESV, DO, ATWOn The Fly: Analyst Initiation Summary
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06:56 EDTRIGTransocean initiated with an Underperform at BMO Capital
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06:56 EDTDODiamond Offshore initiated with an Underperform at BMO Capital
Target $29.
06:51 EDTATWAtwood Oceanics initiated with a Market Perform at BMO Capital
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06:50 EDTRDCRowan Companies initiated with a Market Perform at BMO Capital
Target $25.
06:50 EDTESVEnsco initiated with a Market Perform at BMO Capital
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