New User:

-or-
Username:
Password:
Forgot your password?

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
Sign up for a free trial to see the rest of the stories you've been missing.
1 | 2 >>
August 26, 2015
12:47 EDTBHI, SLB, HALOn The Fly: Top stock stories at midday
Subscribe for More Information
10:57 EDTBHI, HALEuropean oilfield service names boosted by M&A speculation, says JPMorgan
Subscribe for More Information
10:46 EDTSLBSchlumberger off session lows, levels to watch
Subscribe for More Information
10:08 EDTSLBSchlumberger upgraded to Buy from Hold at Standpoint Research
Subscribe for More Information
10:00 EDTBHIOn The Fly: Analyst Upgrade Summary
Subscribe for More Information
09:25 EDTSLBOn The Fly: Pre-market Movers
UP AFTER EARNINGS: Abercrombie & Fitch (ANF), down 15.1%... Express (EXPR), up 9.8%... Frontline (FRO), up 10.4%... Chico's FAS (CHS), up 9.3%. ALSO HIGHER: Oshkosh (OSK), up 11.9% after being awarded a $6.7B contract by the U.S. Army... EMC Corporation (EMC), up 5.8% after Re/code reported that the board is considering a VMware (VMW) downstream merger proposal... Google (GOOG), up 4.6% after being upgraded to Conviction Buy from Neutral at Goldman... Ford (F), up 2.4% after Bloomberg reported that the company is considering returning production of Bronco and Ranger to the U.S. NOTABLE: Cameron International (CAM), up 45.4% after announcing that it will be acquired by Schlumberger (SLB). Schlumberger is down 1.9%. LOWER: WisdomTree (WETF), down 3.6% after being downgraded to Sell from Buy at Citi... Transocean (RIG), down 3.4% after proposing to cancel Q3 and Q4 dividends.
09:20 EDTBHIBaker Hughes upgraded to Conviction List from Outperform at Iberia
Subscribe for More Information
09:12 EDTSLBSchlumberger says no plans to divest anything from Cameron
Subscribe for More Information
08:47 EDTSLBSchlumberger says the acquisition could increase sales base by 20%
Subscribe for More Information
07:58 EDTHAL, SLBC&J Energy downgraded to Neutral from Overweight at JPMorgan
Subscribe for More Information
07:00 EDTSLBSchlumberger volatility elevated into acquiring Cameron in a $14.8B deal
Subscribe for More Information
06:21 EDTSLBSchlumberger to host conference call
Subscribe for More Information
06:11 EDTSLBCameron volatility elevated into Schlumberger agrees to acquire in $14.8B deal
Subscribe for More Information
06:04 EDTSLBSchlumberger agrees to acquire Cameron in deal valued at $14.8B
Schlumberger Limited (SLB) and Cameron (CAM) jointly announced a definitive merger agreement in which the companies will combine in a stock and cash transaction. The agreement was unanimously approved by the boards of both companies. Under the terms of the agreement, Cameron shareholders will receive 0.716 shares of Schlumberger common stock and a cash payment of $14.44 in exchange for each Cameron share. Based on the closing stock prices of both companies on August 25, the agreement places a value of $66.36 per Cameron share, representing a 37.0% premium to Cameron's 20-day volume weighted average price of $48.45 per share, and a 56.3% premium to Cameron's most recent closing stock price of $42.47 per share. Upon closing, Cameron shareholders will own approximately 10% of Schlumberger's outstanding shares of common stock. The total transaction has a value of $14.8B as of August 25. Schlumberger expects to realize pretax synergies of approximately $300M-$600M in the first and second year, respectively. Initially, the synergies are primarily related to reducing operating costs, streamlining supply chains, and improving manufacturing processes, with a growing component of revenue synergies in the second year and beyond. Schlumberger also expects the combination to be accretive to EPS by the end of the first year after closing. The transaction combines two complementary technology portfolios into a "pore-to-pipeline" products and services offering to the global oil and gas industry. On a pro forma basis, the combined company had 2014 revenues of $59B. The transaction is subject to Cameron shareholders' approval, regulatory approvals and other customary closing conditions. It is anticipated that the closing of the transaction will occur in Q1 of 2016.
06:01 EDTSLBSchlumberger agrees to acquire Cameron in deal valued at $14.8B
Subscribe for More Information
August 21, 2015
13:05 EDTBHIBaker Hughes reports U.S. rig count up 1 to 885
Subscribe for More Information
August 19, 2015
13:30 EDTWFTOptions with increasing put volume;
Subscribe for More Information
07:33 EDTSLBCameron and Schlumberger's Subsea to supply pump system for Stones development
Subscribe for More Information
August 17, 2015
08:04 EDTSLBAccenture to acquire Schlumberger Business Consulting
Subscribe for More Information
05:52 EDTWFTStocks with implied volatility movement; XLU WFT
Stocks with implied volatility movement; Utilities SPDR (XLU) 16, Weatherford (WFT) 61 according to iVolatility.
1 | 2 >>

Sign up for a free trial to see the rest of the stories you've been missing.
I agree to the theflyonthewall.com disclaimer & terms of use