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Stock Market & Financial Investment News

News Breaks
May 27, 2014
09:11 EDTSDRL, XOMSeadrill, North Atalantic sign investment and cooperation pact with Rosneft
North Atlantic Drilling and Seadrill (SDRL) announced that an Investment and Co-operation Agreement has been executed with Rosneft in order to pursue growth opportunities offshore and onshore in the Russian market through at least 2022. As part of these proposed opportunities, NADL will enter the onshore drilling market in Russia and enter into contracts for multiple offshore assets. In addition Rosneft will be acquiring a significant equity stake in NADL. NADL has already contracted to drill the first two wells in the Kara Sea, as part of Rosneft and Exxon's (XOM) joint venture during 2014 and 2015. As part of the agreement, a number of long term contracts for NADL's near-term availability are expected to be signed as well as a commitment to future contracts and newbuild projects. The agreement envisions initial employment of up to 9 offshore rigs to Rosneft with a total commitment of 35 rig years. Closing of the transaction is expected during the second half of 2014, subject to customary due diligence, negotiation of detailed transaction terms, and respective Board approvals. The company's operations in Stavanger will continue as today and will focus on the current operations and future growth. The strategic partnership is likely to entail opening up of other regional offices to serve local growth in demand. Overall activity levels are expected to increase significantly and provide employees with attractive opportunities. Seadrill, after the initial transaction, will remain the largest shareholder in NADL.
News For SDRL;XOM From The Last 14 Days
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October 31, 2014
09:10 EDTXOMOn The Fly: Pre-market Movers
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08:07 EDTXOMExxon Mobil reports Q3 Upstream earnings $6.42B
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08:05 EDTXOMExxon Mobil says 2014 Upstream production remains on track
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08:03 EDTXOMExxon Mobil reports Q3 EPS $1.89, consensus $1.71
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October 30, 2014
15:41 EDTXOMNotable companies reporting before tomorrow's open
Notable companies reporting before tomorrow's market open, with earnings consensus, include Exxon Mobil (XOM), consensus $1.73; Chevron (CVX), consensus $2.56; AbbVie (ABBV), consensus 77c; NextEra Energy (NEE), consensus $1.55; Dominion Resources (D), consensus 96c; Aon plc (AON), consensus $1.12; Weyerhaeuser (WY), consensus 30c; Clorox (CLX), consensus $1.03; Rockwell Collins (COL), consensus $1.27; Newell Rubbermaid (NWL), consensus 55c; Pinnacle West (PNW), consensus $2.15; Legg Mason (LM), consensus 0c; TECO Energy (TE), consensus 32c; Oshkosh (OSK), consensus 82c; Hilton Worldwide (HLT), consensus 17c; Genesee & Wyoming (GWR), consensus $1.17; Spirit AeroSystems (SPR), consensus 74c; Madison Square Garden (MSG), consensus 32c; Magellan Midstream (MMP), consensus 66c.
October 26, 2014
17:07 EDTXOMVenezuela decides against Citgo sale, WSJ says
Venezuela has decided against selling its U.S. refining unit Citgo, says the Wall street Journal. Earlier this year Venezuelan officials indicated that they were looking to sell Citgo for as much as $10B, added the Wall Street Journal. Publicly traded companies in the space include BP (BP), Chevron (CVX), ConocoPhillips (COP), Exxon Mobil (XOM), Royal Dutch Shell (RDS.A) and Total (TOT). Reference Link
October 22, 2014
07:34 EDTXOMFoster Wheeler unit awarded EPC contract for Exxon Mobil Antwerp refinery
Foster Wheeler (FWLT) announced that a subsidiary of its Global Engineering and Construction Group has been awarded an engineering, procurement, and constructioncontract by ExxonMobil (XOM) Petroleum & Chemical BVBA for the Antwerp Northwest Europe Resid Upgrade Project, Revamp and Offsites facilities at the Esso Antwerp Refinery at Antwerp, Belgium. Foster Wheeler's contract value was not disclosed. A small initial release of work was included in the company’s Q1 bookings. The full release of work was included in the company's Q2 bookings. Foster Wheeler’s scope of work is expected to be completed in December 2016.
October 20, 2014
08:41 EDTSDRLSeadrill downgraded to Neutral from Buy at Citigroup
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05:24 EDTSDRLSeadrill downgraded to Neutral from Buy at Citigroup

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