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Stock Market & Financial Investment News

News Breaks
January 21, 2014
08:56 EDTSLB, GE, HALSchlumberger, GE, Halliburton interested in Expro, Bloomberg says
Arle Capital Partners is preparing to sell the oilfield-services business Expro International and has attracted interest from Schlumberger (SLB) and General Electric (GE), according to Bloomberg, citing three people with knowledge of the matter. Two of the people also said that Halliburton (HAL) may look at Expro, which could fetch about $4.9B, the report added. Reference Link
News For SLB;HAL;GE From The Last 14 Days
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August 26, 2015
16:26 EDTSLBOn The Fly: Top stock stories for Wednesday
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12:47 EDTSLB, HALOn The Fly: Top stock stories at midday
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10:57 EDTHALEuropean oilfield service names boosted by M&A speculation, says JPMorgan
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10:46 EDTSLBSchlumberger off session lows, levels to watch
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10:08 EDTSLBSchlumberger upgraded to Buy from Hold at Standpoint Research
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09:33 EDTGEActive equity options trading on open
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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.
09:12 EDTSLBSchlumberger says no plans to divest anything from Cameron
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08:47 EDTSLBSchlumberger says the acquisition could increase sales base by 20%
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07:58 EDTSLB, HALC&J Energy downgraded to Neutral from Overweight at JPMorgan
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07:00 EDTSLBSchlumberger volatility elevated into acquiring Cameron in a $14.8B deal
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06:21 EDTSLBSchlumberger to host conference call
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06:11 EDTSLBCameron volatility elevated into Schlumberger agrees to acquire in $14.8B deal
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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
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August 25, 2015
09:35 EDTGEActive equity options trading on open
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06:28 EDTGEGE eyes compensation for Polish forex loan conversion, Reuters says
General Electric is eyeing compensation for losses incurred by its Polish unit Bank BPH due to the planned conversion of Swiss-franc denominated mortgages into zlotys, Reuters reports, citing a letter sent from GE Capital CEO Keith Sherin to Polish authorities. According to the letter, GE saw further possible damage to BPH, following a 10% decline in BPH shares on the day the bill on the conversion was preemptively passed by the lower house of parliament. Reference Link
August 24, 2015
19:30 EDTGEGeneral Electric to eliminate Lufkin oil 262 jobs in TX, Reuters says
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August 21, 2015
17:02 EDTGEGeneral Electric completes sale of U.S. Sponsor Finance Business to CPPIB
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August 20, 2015
08:01 EDTGEGE to provide CESP with 30MW battery energy storage system
GE announced it will provide Coachella Energy Storage Partners with a 30-MW battery energy storage system as part of CESP's supply contract with the Imperial Irrigation District. Representing GE's largest energy storage project to date, the plant will be located in California's Imperial Valley, approximately 100 miles east of San Diego. The facility will aid grid flexibility and increase reliability on the IID network by providing solar ramping, frequency regulation, power balancing and black start capability for an adjacent gas turbine. GE will provide CESP with an integrated energy storage solution, configured using GE's Mark* VI plant controls, GE Brilliance MW inverters, GE Prolec transformers, medium-voltage switchgear and advanced lithium ion batteries housed in a GE purpose-built enclosure. The plant will be operated by ZGlobal, an engineering collaborator with CESP, for the first 18 months, after which control will transfer to the IID. The deal marks GE's third project using lithium ion battery technology since expanding its portfolio in recent months. GE anticipates project construction will begin early next year, with commercial operation scheduled for the third quarter of 2016.
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