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Stock Market & Financial Investment News

News Breaks
August 4, 2014
10:28 EDTRIG, DO, ESV, RDC, ATW, SDRL, HERO, ORIG, PACDTransocean, 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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October 17, 2014
08:30 EDTHEROHercules Offshore downgraded to Market Perform at Cowen
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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.
07:02 EDTHEROHercules Offshore downgraded to Market Perform from Outperform at Cowen
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07:01 EDTRIGTransocean downgraded to Market Perform from Outperform at Cowen
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October 16, 2014
10:01 EDTSDRLOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: Akamai (AKAM) downgraded to Market Perform from Outperform at Wells Fargo... CGG SA (CGG) downgraded to Reduce from Neutral at Nomura... Central Valley Community (CVCY) downgraded to Hold from Buy at Sandler O'Neill... DSM (RDSMY) downgraded to Neutral from Buy at Nomura... Disney (DIS) downgraded at Guggenheim... Francesca's (FRAN) downgraded to Underperform from Outperform at Macquarie... Netflix (NFLX) downgraded to Fair Value from Buy at CRT Capital... Nordstrom (JWN) downgraded to Neutral from Outperform at Macquarie... Norfolk Southern (NSC) downgraded at Credit Suisse... Rio Tinto (RIO) downgraded to Market Perform at Cowen... Seadrill (SDRL) downgraded to Reduce from Neutral at Nomura... Ternium (TX) downgraded to Neutral from Overweight at JPMorgan... Urban Outfitters (URBN) downgraded to Neutral from Outperform at Macquarie... Viacom (VIAB) downgraded at BofA/Merrill... eBay (EBAY) downgraded to Underperform from Buy at CLSA... lululemon (LULU) downgraded to Underperform from Neutral at Macquarie.
09:23 EDTSDRLOn The Fly: Pre-market Movers
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09:14 EDTATWAtwood Oceanics management to meet with Guggenheim
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05:23 EDTSDRLSeadrill downgraded to Reduce from Neutral at Nomura
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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 EDTRIG, RDC, DO, HERO, ESV, ATWOn 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.
07:09 EDTSDRLSeadrill initiated with a Buy at ISI Group
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07:09 EDTRDCRowan Companies initiated with a Buy at ISI Group
Target $41.
07:08 EDTPACDPacific Drilling initiated with a Buy at ISI Group
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07:08 EDTORIGOcean Rig UDW initiated with a Buy at ISI Group
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07:08 EDTESVEnsco initiated with a Buy at ISI Group
Target $45.
07:07 EDTATWAtwood Oceanics initiated with a Buy at ISI Group
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07:05 EDTRIGTransocean initiated with a Sell at ISI Group
Target $27.
07:04 EDTHEROHercules Offshore initiated with a Sell at ISI Group
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07:03 EDTDODiamond Offshore initiated with a Sell at ISI Group
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