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Stock Market & Financial Investment News

News Breaks
November 13, 2012
05:36 EDTSDRLSeadrill initiated with a Buy at Deutsche Bank
Target $41.
News For SDRL From The Last 14 Days
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November 26, 2014
12:24 EDTSDRLSeadrill cautious on macro environment as oil price drops
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10:27 EDTSDRLSeadrill dives after suspending dividends, earnings results
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10:01 EDTSDRLSeadrill, North Atlantic Drilling plunge after suspending dividends
Shares of two drilling contractors, Seadrill (SDRL) and North Atlantic Drilling (NADL), are both trading sharply lower this morning after each of the companies announced that they have suspended their dividends. WHAT'S NEW: Seadrill reported third quarter earnings per share of 31c, which significantly missed the consensus 67c estimate. Third quarter revenues were $1.29B, compared to $1.22B in the second quarter and the consensus estimate of $1.23B. As of September 30, cash and cash equivalents were $638M, an increase of $95M compared to the previous quarter. However, Seadrill announced it is suspending dividend distributions and focusing on debt reduction and value creating opportunities due to "significant deterioration" in the broader markets. Also this morning, another offshore drilling contractor, North Atlantic Drilling, said that due to the delay of its agreement with Russia's Rosneft, combined with a market which has become "significantly weaker" in the past quarter, the board of directors has resolved to suspend the regular quarterly cash dividend. WHAT'S NOTABLE: On November 7, North Atlantic Drilling, Seadrill and Rosneft announced the companies had mutually agreed to delay their announced transaction until the end of May 2015. The break rights under the transaction have also been extended to the end of May 2015 and the parties remain committed to the transaction. On May 26, North Atlantic Drilling announced that it had entered into a transaction between the company, Seadrill and Rosneft Oil of Russia. PRICE ACTION: In morning trading, shares of Seadrill fell nearly 17% to $17.23 and North Atlantic Drilling dropped 15% to $2.69.
09:35 EDTSDRLActive equity options trading
Active equity options trading according to Track Data: AAPL HPQ SDRL TASR FB TXN NFLX AMZN TWTR PBR
05:43 EDTSDRLSeadrill reports Q3 EPS 31c, may not compare to consensus 67c
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November 21, 2014
11:34 EDTSDRLSeadrill December volatility elevated into Q3 and outlook
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