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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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January 30, 2015
12:56 EDTRIGTransocean February volatility elevated into Q4 and outlook
Transocean February call option implied volatility is at 97, March is at 99, May is at 99; compared to its 26-week average of 25 according to Track Data, suggesting large near term price movement into the expected release of Q4 results in late February.
05:47 EDTRIGStocks with implied volatility movement; RIG OAS
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January 28, 2015
11:24 EDTRIGStocks with call strike movement; PBR RIG
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January 27, 2015
16:00 EDTRIGOptions Update; January 27, 2015
iPath S&P 500 VIX Short-Term Futures up 1.40 to 32.01. Option volume leaders: AAPL TSLA TWTR AMZN FB MSFT X RIG YHOO C GILD according to Track Data.
12:08 EDTRDC, DO, RIGObama to propose opening up Atlantic to offshore drilling, NYT reports
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January 26, 2015
11:50 EDTRIGStocks with call strike movement; RIG NBR
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January 23, 2015
10:15 EDTRIGOptions with decreasing implied volatility
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10:02 EDTHEROOn the Fly: Analyst Downgrade Summary
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08:37 EDTRDC, ESV, RIG, DOBofA/Merrill U.S. oil & gas analysts to hold an analyst/industry conference call
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06:45 EDTHEROHercules Offshore downgraded to Underperform at Raymond James
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January 22, 2015
12:48 EDTRIGCarl Icahn believes oil prices will go lower
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09:16 EDTSDRLOn The Fly: Pre-market Movers
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08:49 EDTSDRLNorth Atlantic Drilling says Seadrill to back 2018 bond in trade for amendments
North Atlantic Drilling (NADL) announces the launch of an amendment process whereby Seadrill Limited (SDRL) will provide a guarantee for the company's NOK 1.5B bond maturing in 2018, in exchange for some amendments to the bond covenant package, namely replacing the NADL's current financial covenants with Seadrill's financial covenants from Seadrill's NOK denominated bonds. Concurrent with the amendment process for the Bond Agreement, NADL has also launched an amendment process for its secured credit facilities whereby Seadrill Limited will provide a guarantee. Successful conclusion of this process will amend the terms of the loan agreements to align with the terms set forth in Seadrill Limited's loan agreements. "The company's lenders have been supportive thus far and we expect successful conclusion of this amendment in the weeks to come," the company stated. North Atlantic Drilling shares are up 19% in pre-market trading following the announcement.
January 21, 2015
18:28 EDTRDCRowan Companies sees Q4 jack-up out of service time to be 7%
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16:00 EDTRIGOptions Update; January 21, 2015
iPath S&P 500 VIX Short-Term Futures down 1.63 to 33.49. Option volume leaders: AAPL TSLA TWTR AMZN FB RIG C ABX SIRI NFLX according to Track Data.
12:11 EDTESVStocks with call strike movement; DNR ESV
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11:36 EDTRIGStocks with call strike movement; NBR RIG
Nabors Industries (NBR) June 12 call option implied volatility decreased 4% to 65, Transocean (RIG) August 19 call option implied volatility decreased 8% to 67 according to IVolatility.
January 20, 2015
11:56 EDTRIGStocks with call strike movement; RIG MNKD
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January 16, 2015
16:00 EDTRIGOptions Update; January 16, 2015
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