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Stock Market & Financial Investment News

News Breaks
March 18, 2013
13:32 EDTSLB, RIG, RDC, BHI, PDE, NBR, WFT, HAL, DOOil services stocks fall after Schlumberger calls North America weak
A number of oil services stocks are falling after the leader in the sector, Schlumberger (SLB), stated on slides for the Howard Weil Conference that activity in North America has been below expectations in the first quarter. The company's customers have activated fewer rigs on the continent than they had previously indicated, Schlumberger explained. Schlumberger also stated that it was temporarily reducing its activity in Venezuela due to "collection issues." The company forecast that its earnings per share would grow by double digit percentage levels this year, in-line with its previous outlook, as long as North American land activity and prices meet its previous forecast and issues resolve in Venezuela. Meanwhile, the company forecast that demand for oil would increase just 1% in 2013 compared to 2012. The increase will be driven by developing markets, with China generating 50% of the growth, Schlumberger stated. In mid-afternoon trading, Schlumberger fell 3% to $77, Baker Hughes (BHI) gave back 2% to $47, Weatherford (WFT) lost 1.5% to $12, and Halliburton (HAL) lost 1.6% to $41.23.
News For SLB;RIG;RDC;BHI;PDE;NBR;WFT;HAL;DO From The Last 14 Days
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September 12, 2014
10:27 EDTRIGTransocean falls in a weak energy sector, levels to watch
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07:14 EDTRIGTransocean management to meet with Deutsche Bank
Meetings to be held in Frankfurt/The Netherlands on September 12 hosted by Deutsche Bank.
September 11, 2014
15:33 EDTNBRNabors to repurchase about $250M of shares, about 40% of Pamplona stake
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09:08 EDTNBRNabors Industries 25.6M share Spot Secondary priced at $24.10
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07:49 EDTRIGTransocean management to meet with Deutsche Bank
Meetings to be held in Stockholm/Frankfurt on September 11 hosted by Deutsche Bank.
September 9, 2014
07:18 EDTHALStephens to hold an investor trip
Energy: Oilfield Services Investor Plane Trip travels throughout Texas and Oklahoma on September 9-10.
September 8, 2014
17:25 EDTBHIBaker Hughes names Kimberly Ross CFO
Baker Hughes (BHI) announced that Kimberly A. Ross, has been appointed senior vice president and CFO effective October 22. Ross currently serves as executive vice president and CFO of Avon Products (AVP).
08:15 EDTBHIBaker Hughes reports August international rig count down 43 to 1,339
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September 6, 2014
18:25 EDTRIGTransocean shares could climb 33%, Barron's says
Transocean shares could rebound around 33%, as ocean drilling increases, Barron's argues in a follow up article. Reference Link
September 5, 2014
16:45 EDTHALMarket ends week little changed after mixed economic data
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13:03 EDTBHIBaker Hughes reports U.S. rig count up 11 to 1925 rigs
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September 4, 2014
16:24 EDTHAL, RIGOn The Fly: Closing Wrap
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12:35 EDTRIGTransocean issues statement on court ruling related to Macondo well incident
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12:34 EDTRIG, HALOn The Fly: Midday Wrap
Stocks on Wall Street began the session in positive territory after the ECB lowered its benchmark interest rate and took additional measures in an attempt to stimulate the region’s economy. The averages had some early momentum, but found a level about an hour into trading around which they have since traded in a narrow range. ECONOMIC EVENTS: In the U.S., payroll provider ADP estimated private sector employment increased by 204K jobs in August, which was below the consensus forecast for 215K private sector jobs to have been added. Initial jobless claims rose 4K to 302K in the week ended August 30, which was close to the 300K estimate. The trade deficit narrowed slightly to $40.5B in July, beating expectations for a deficit of $42.5B. Second quarter nonfarm productivity growth was revised lower to 2.3% versus the 2.5% pace reported initially. Unit labor costs were revised down to a decrease of 0.1% from a rise of 0.6% estimated previously. Markit's services PMI for August came in at 59.5, versus a consensus forecast of 58.5. ISM's non-manufacturing PMI for August had a reading of 59.6, easily topping the 57.7 consensus estimate. In Europe, the European Central Bank unexpectedly cut the rate at which it issues short-term loans to banks to 0.05% from 0.15% and lowered its growth forecasts for 2014 and 2015. The ECB also announced plans to buy asset-backed securities, which the central bank's president Mario Draghi said will have a “sizable” impact on its balance sheet without providing further details on the size of the planned purchases. COMPANY NEWS: Shares of oil major BP (BP) trading in New York fell about 6% after a federal judge ruled that the company acted with "gross negligence" in causing the Gulf of Mexico spill in 2010 that was the biggest offshore oil spill in U.S. history. U.S. District Judge Carl Barbier, who held a trial without a jury over who was at fault, also found Transocean (RIG) and Halliburton (HAL) "negligent," but rested much more of the blame on BP, with 67% of the liability assigned to BP, 30% to Transocean and 3% to Halliburton. Afterward, BP said it "strongly disagrees" with the decision and will immediately appeal. MAJOR MOVERS: Among the notable gainers following their earnings reports were Mattress Firm (MFRM), which rose 12%, and Methode Electronics (MEI), which gained 16%. Also higher was Bolt Technology (BOLT), which surged 36% after the company agreed to be acquired by Teledyne Technologies (TDY) for $22.00 per share in cash. Shares of Teledyne advanced nearly 2% following last night's deal announcement. Among the noteworthy losers was Matrix Service (MTRX), which dropped 21% after its earnings for the just completed quarter and its profit forecast for its new fiscal year fell short of analysts' expectations. Also lower following their earnings reports were Ciena (CIEN), which fell over 7%, and Shoe Carnival (SCVL), which dropped more than 10%. INDEXES: Near midday, the Dow was up 43.83, or 0.26%, to 17,122.11, the Nasdaq was up 15.15, or 0.33%, to 4,587.71, and the S&P 500 was up 5.23, or 0.26%, to 2,005.95.
12:11 EDTHALCourt rules Halliburton 'negligent' in Macondo incident conduct
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11:09 EDTRIG, HALBP falls after found 'grossly negligent' in spill ruling
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10:44 EDTHAL, RIGBP found grossly negligent in Macondo spill, fines may rise, Bloomberg reports
U.S. District Judge Carl Barbier has found BP (BP) "grossly negligent" in its handling of the 2010 Gulf of Mexico oil spill, which killed 11 people and spewed oil for nearly three months, Bloomberg reports. Transocean (RIG) and Halliburton (HAL) were also involved in the case, but the federal judge did not find them as responsible as BP for the spill. BP could face fines of up to $18B for the spill. Reference Link
10:26 EDTRIG, HALHalliburton, Transocean cleared of gross negligence in spill, Bloomberg reports
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08:07 EDTBHIBaker Hughes and Aker Solutions' alliance receives regulatory approvals
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September 3, 2014
10:48 EDTRDCRowan repeats view for FY14 jack-up out of service time, capex
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