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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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September 26, 2014
10:09 EDTRDCHigh option volume stocks
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10:01 EDTSDRLOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: Actuant (ATU) downgraded to Market Perform from Outperform at FBR Capital... Air France-KLM (AFLYY) downgraded to Underperform from Hold at Jefferies... Beacon Roofing (BECN) downgraded at Longbow... China Unicom (CHU) downgraded to Hold from Buy at Deutsche Bank... Erickson (EAC) downgraded at Stifel... H.B. Fuller (FUL) downgraded to Neutral from Overweight at Piper Jaffray... Philip Morris (PM) downgraded at BofA/Merrill... Seadrill (SDRL) downgraded to Sell from Neutral at Goldman... Starwood Property (STWD) downgraded to Neutral from Buy at Compass Point... Steel Dynamics (STLD) resumed with a Neutral from Buy at Citigroup... Vale (VALE) downgraded to Neutral from Buy at Citigroup.
September 25, 2014
20:02 EDTSDRLSeadrill downgraded to Sell from Neutral at Goldman
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11:35 EDTRIGStocks with call strike movement; FB RIG
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11:14 EDTSDRLSeadrill volatility increases as shares trend lower
Seadrill September weekly call option implied volatility is at 56, October weekly is at 44, October and November is at 36, January is at 35; compared to its 26-week average of 27 according to Track Data, suggesting large price movement.
September 24, 2014
16:01 EDTRIGOptions Update; September 24, 2014
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09:59 EDTPACDOn The Fly: Analyst Initiation Summary
Today's noteworthy initiations include: Ameren (AEE) initiated with a Buy at Ladenburg... Autoliv (ALV) initiated with an Outperform at Exane BNP Paribas... BNY Mellon (BK) initiated with a Neutral at Citigroup... Burlington Stores (BURL) initiated with a Neutral at Credit Suisse... Cameron (CAM) initiated with a Market Perform at Wells Fargo... CoreLogic (CLGX) initiated with an Overweight at Piper Jaffray... FMC Technologies (FTI) initiated with a Market Perform at Wells Fargo... FNFV (FNFV) initiated with a Neutral at Piper Jaffray... Fidelity National (FNF) initiated with an Overweight at Piper Jaffray... First American (FAF) initiated with a Neutral at Piper Jaffray... Freeport McMoRan (FCX) initiated with an Outperform at Scotia Capital... Helmerich & Payne (HP) initiated with an Outperform at Wells Fargo... HomeAway (AWAY) initiated with a Buy at SunTrust... IMS Health (IMS) initiated with a Buy at Topeka... Nabors Industries (NBR) initiated with an Outperform at Wells Fargo... National Oilwell (NOV) initiated with a Market Perform at Wells Fargo... Northern Trust (NTRS) initiated with a Neutral at Citigroup... Pacific Drilling (PACD) initiated with a Market Perform at Wells Fargo... Paragon Offshore (PGN) initiated with a Market Perform at Wells Fargo... Patterson-UTI Energy (PTEN) initiated with an Outperform at Wells Fargo... Pioneer Energy (PES) initiated with an Outperform at Wells Fargo... Realogy (RLGY) initiated with an Overweight at Piper Jaffray... Ruckus Wireless (RKUS) initiated with a Neutral at SunTrust... Sarepta (SRPT) initiated with an Outperform at Credit Suisse... Skyworks (SWKS) initiated with a Buy at MKM Partners... State Street (STT) initiated with a Buy at Citigroup... Ubiquiti Networks (UBNT) initiated with a Buy at SunTrust... Wafergen Biosystems (WGBS) initiated with a Buy at Brean Capital.
06:01 EDTPACDPacific Drilling initiated with a Market Perform at Wells Fargo
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September 23, 2014
13:02 EDTRDCBlue Harbour Group raises stake in Rowan Companies to 7.9% from 6.5%
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08:40 EDTSDRLSeadrill volatility elevated on wide-price movement
Seadrill September weekly call option implied volatility is at 56, October is at 41, January is at 34; compared to its 26-week average of 27 according to Track Data, suggesting large price movement.
September 22, 2014
16:37 EDTRIGTransocean receives $115M in new contracts since August 21 fleet update
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06:20 EDTSDRLStocks with implied volatility movement; SDRL VALE
Stocks with implied volatility movement; Seadrill (SDRL) 40, Vale (VALE) 39 according to iVolatility.
September 21, 2014
12:48 EDTRIGTransocean to host special shareholder meeting
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September 19, 2014
16:00 EDTSDRLOptions Update; September 19, 2014
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10:07 EDTSDRLHigh option volume stocks
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10:06 EDTSDRLOn The Fly: Analyst Downgrade Summary
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09:58 EDTSDRLSeadrill management to meet with Deutsche Bank
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05:32 EDTSDRLSeadrill downgraded to Underperform from Neutral at Exane BNP Paribas
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September 18, 2014
06:07 EDTSDRLSeadrill volatility elevated on wide-price movement
Seadrill October call option implied volatility is at 31, January is at 28; compared to its 26-week average of 26 according to Track Data, suggesting large price movement.

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