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Stock Market & Financial Investment News

News Breaks
August 4, 2014
10:28 EDTORIG, ATW, DO, HERO, RDC, RIG, PACD, SDRL, ESVTransocean, 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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August 4, 2015
05:53 EDTSDRLStocks with implied volatility movement; SDRL TWTR
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August 3, 2015
16:00 EDTRIGOptions Update; August 3, 2015
iPath S&P 500 VIX Short-Term Futures down 10c to 15.92 Option volume leaders: AAPL MWE TWTR FB RIG BAC DIS WMB NFLX CHK XOM CCE
06:07 EDTDODiamond Offshore reports Q2 EPS 66c, consensus 47c
Reports Q2 revenue $634M, consensus $605.37M.
July 31, 2015
13:36 EDTRIGTransocean volatility elevated into Q2 and outlook
TransoceaTransocean August weekly call option implied volatility is at 70, August is at 62, September is at 64; compared to its 52-week range of 21 to 87, suggesting large near term price movement into the expected release of Q2 results on August 6.
July 30, 2015
11:43 EDTRIGStocks with call strike movement; RRC RIG
Range Resources (RRC) January 47.5 call option implied volatility increased 6% to 54, Transocean (RIG) January 16 call option implied volatility increased 5% to 54 according to IVolatility.
July 29, 2015
17:30 EDTESVEnsco reports Q2 cont-op EPS $1.18, consensus $1.05
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16:44 EDTATWAtwood Oceanics reports Q3 EPS $1.73, consensus $1.66
Reports Q3 revenue $330.6M, consensus $327.9M.
11:18 EDTRIGStocks with call strike movement; FCX RIG
Freeport McMoRan (FCX) January 14 call option implied volatility decreased 4% to 55, Transocean (RIG) January 18 call option implied volatility decreased 2% to 52 according to IVolatility.
July 27, 2015
06:20 EDTRIG, DO, RDCU.S. oil firms preparing for extended job cuts, WSJ reports
U.S. energy companies intend to cut more jobs, sell more assets, and engage in more financial maneuvers to deal with the recent drop in U.S. crude-oil prices to below $50 a barrel, the Wall Street Journal reports. Companies have started to warn that more layoffs will come, particularly Halliburton (HAL) and Baker Hughes (BHI), who disclosed last week that they had cut 27,000 jobs between them, the report says. Job cuts for the industry are beginning to extend to engineers and scientists, the report adds. Publicly traded companies in oil industry include BP (BP), Chevron (CVX), ConocoPhillips (COP), Exxon Mobil (XOM), Royal Dutch Shell (RDS.A) and Total (TOT). Other publicly traded companies in the space 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
July 23, 2015
07:50 EDTHEROHercules Offshore reports Q2 Domestic Offshore revenue down 71% to $40.6M
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07:19 EDTHEROHercules Offshore reports Q2 EPS (55c), consensus (50c)
Reports Q2 revenue $79.25M, consensus $95.51M.
06:58 EDTPACDPacific Drilling raises FY15 average revenue efficiency to 94%-96% from 92%-96%
Cuts FY15 contract drilling expenses to $425M-$450M from $500M-$525M. Cuts FY15 G&A expenses to $55M-$58M from $63M-$66M. Cuts FY15 income tax expense as percent of drilling contract drilling revenue to 3%-3.5% from 3.5%-4%. Sees FY15 EBITDA $575M-$615M. Comments taken from slides for July Company Update.

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