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Stock Market & Financial Investment News

News Breaks
August 4, 2014
10:28 EDTPACD, SDRL, ESV, ORIG, ATW, DO, HERO, RDC, RIGTransocean, 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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April 24, 2015
11:07 EDTRIGStocks with call strike movement; TWTR RIG
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April 23, 2015
10:00 EDTRIG, ESVOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: ADTRAN (ADTN) downgraded to Hold from Buy at Needham... Angie's List (ANGI) downgraded to Underperform from Market Perform at Northland... BG Group (BRGYY) downgraded to Hold from Overweight at HSBC... Brink's (BCO) downgraded to Neutral, sees 'imminent' downside risk, says Macquarie... Citrix (CTXS) downgraded to Hold from Buy at Evercore ISI... Cognex (CGNX) downgraded to Perform from Outperform at Oppenheimer... Cytec Industries (CYT) downgraded to Equal-Weight from Overweight at First Analysis... Enbridge (ENB) downgraded to Neutral from Outperform at Credit Suisse... Ensco (ESV) downgraded to Underweight from Equal Weight at Morgan Stanley... F5 Networks (FFIV) downgraded to Neutral from Buy at MKM Partners... Fulton Financial (FULT) downgraded to Market Perform from Outperform at Keefe Bruyette... Halcon Resources (HK) downgraded to Neutral from Outperform at Baird... Heartland Express (HTLD) downgraded on limited earnings growth at Raymond James... Informatica (INFA) downgraded to Market Perform from Outperform at JMP Securities... Knight Transportation (KNX) downgraded to Outperform from Strong Buy at Raymond James... LegacyTexas Financial (LTXB) downgraded to Outperform from Strong Buy at Raymond James... Masco (MAS) downgraded to Neutral from Buy at Citigroup... MobileIron (MOBL) downgraded to Equal Weight from Overweight at Morgan Stanley... Noble Corp. (NE) downgraded to Underweight from Equal Weight at Morgan Stanley... Omnicare (OCR) downgraded to Neutral from Outperform at Credit Suisse... Owens Corning (OC) downgraded to Sell from Neutral at Citigroup... Qualcomm (QCOM) downgraded to Neutral from Outperform at Exane BNP Paribas... RAM Energy (RAME) downgraded to Neutral from Outperform at Baird... Repsol (REPYY) downgraded to Reduce from Hold at HSBC... Stillwater Mining (SWC) downgraded on lack of catalysts at BB&T... Texas Capital (TCBI) downgraded to Outperform from Strong Buy at Raymond James... Texas Instruments (TXN) downgraded to Neutral from Buy at BofA/Merrill... Total (TOT) downgraded to Hold from Buy at Deutsche Bank... Transocean (RIG) downgraded to Underweight from Equal Weight at Morgan Stanley.
06:54 EDTRIGTransocean downgraded to Underweight from Equal Weight at Morgan Stanley
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06:54 EDTESVEnsco downgraded to Underweight from Equal Weight at Morgan Stanley
Morgan Stanley downgraded Ensco to Underweight and lowered its price target to $27.50 from $31.50 based on limited upside, and ENSCO 8500 Series and later cycle recovery exposure.
April 22, 2015
19:00 EDTRDCRowan reiterates 3%-6% Q1 out-of-service time
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April 21, 2015
19:24 EDTRIGNational Oilwell announces CFO Thigpen resigns to become CEO of Transocean
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18:30 EDTRIGTransocean appoints Jeremy Thigpen as CEO
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April 17, 2015
09:28 EDTATWAtwood Oceanics reports update on status of Osprey repairs, services contract
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08:29 EDTDO, RIG, RDCU.S. may be at, or near, peak oil output, WSJ says
New data and forecasts suggest lower crude prices are finally prompting U.S. energy companies to cut back their crude output, according to The Wall Street Journal, citing reports from OPEC, the DOE and North Dakota. Publicly traded oil majors include BP (BP), Chevron (CVX), ConocoPhillips (COP), Exxon Mobil (XOM), Royal Dutch Shell (RDS.A) and Total (TOT). Publicly traded drillers and oil services companies 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
April 16, 2015
17:36 EDTRIGTransocean to scrap GSF Explorer, sees $100M-$120M non-cash charge in Q2
Transocean reported earlier that it intends to scrap its GSF Explorer in an environmentally responsible manner. The rig is classified as held for sale. Due to these plans, Q2 results are expected to include a related estimated non-cash charge of $100M-$120M, net of taxes.
16:02 EDTRIGOptions Update; April 16, 2015
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10:58 EDTRIGStocks with call strike movement; RIG FCX
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09:33 EDTESVEnsco downgraded to Reduce from Neutral at Global Hunter
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05:52 EDTRIGStocks with implied volatility movement; RIG QIHU
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April 15, 2015
16:01 EDTRIGOptions Update; April 15, 2015
iPath S&P 500 VIX Short-Term Futures down 49c to 21.90. Option volume leaders: AAPL NFLX C PBR KMI RIG MCP TWTR GILD BAC according to Track Data.
09:35 EDTRIGActive equity options trading on open
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06:16 EDTRIG, RDC, DOOil layoffs reach 100,000 and still going, WSJ reports
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April 14, 2015
16:00 EDTRIGOptions Update; April 14, 2015
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09:20 EDTSDRL, PACD, ATWMorgan Stanley calls a bottom in Oil Services sector
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April 12, 2015
18:32 EDTRIG, RDC, ESV, DO, SDRL, ATWObama administration expected to toughen offshore drilling regulations, WSJ says
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