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Stock Market & Financial Investment News

News Breaks
June 25, 2014
12:10 EDTWFT, SLB, HAL, BHISchlumberger rises after long-term profit guidance beats expectations
Schlumberger (SLB) and its peers are rising after the oil and gas services company provided long-term profit guidance. WHAT'S NEW: At an investor conference earlier today, Schlumberger predicted that its earnings per share would increase at a compound annual growth rate of 17%-20%. In a note to investors earlier today, RBC Capital analyst Kurt Hallead wrote that the Street was expecting the company's EPS to grow at an annualized rate of 15%. Schlumberger predicted that its 2017 EPS would be $9-$10. The company said it could achieve its guidance through revenue growth, margin expansion, and share repurchases. Sclhumberger added that it expects oil markets to be "well-balanced" through 2017. It predicted that spending on exploration would be "subdued" in 2015, but it expects a renewed focus on exploration in 2016-2017. WHAT'S NOTABLE: Before Schlumberger announced its guidance today, Hallead predicted that the company's EPS would reach $8 in 2016. He kept an Outperform rating on the shares. PRICE ACTION: Near noon, Schlumberger climbed 5% to $112.25. Other companies in the sector also advanced, with Baker Hughes (BHI) rising 1.9% to $72.77, Halliburton (HAL) gaining 1.8% to $69.39, and Weatherford (WFT) adding 1% to $22.67.
News For SLB;BHI;HAL;WFT From The Last 14 Days
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May 28, 2015
07:32 EDTSLBCameron and Schlumberger's OneSubsea awarded $330M contract
Cameron (CAM) and Schlumberger (SLB) company OneSubsea has been awarded a subsea production systems contract totaling more than $330M for a gas project offshore North Africa. Deliveries are expected to begin in 3Q16.
May 26, 2015
09:58 EDTWFTOn The Fly: Analyst Downgrade Summary
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08:15 EDTWFT, WFTWeatherford downgraded to Underperform from Outperform at CLSA
CLSA downgraded Weatherford to Underperform from Outperform despite raising its price target to $15 from $12. CLSA's analyst believes the advancement of unconventional drilling has been one of the most disruptive technologies in the sectors' history and will derail cycle normalization near-term. The firm believes the industry will need half as many rigs to keep production flat until attrition right-sizes the industry.
May 22, 2015
13:08 EDTBHIBaker Hughes reports U.S. rig count down 3 to 885
Baker Hughes reported the U.S. rig count is down 3 rigs from last week to 885, with oil rigs down 1 to 659, gas rigs down 1 to 222, and miscellaneous rigs down 1 to 4.
May 20, 2015
15:01 EDTHALHalliburton reaches agreement with BP to resolve remaining issues
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May 19, 2015
08:23 EDTHAL, BHISiemens bond plan keeps it in running for Halliburton assets, Bloomberg says
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07:31 EDTSLB, HAL, WFTUBS to hold a conference
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May 15, 2015
13:03 EDTBHIBaker Hughes reports U.S. rig count down 6 to 888 rigs
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07:09 EDTHALHayman Capital gives quarterly update on stakes
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05:46 EDTBHIStocks with implied volatility movement; BHP AVP
Stocks with implied volatility movement; Avon Products (AVP) 77, Baker Hughes (BHI) 27 according to iVolatility.

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