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Stock Market & Financial Investment News

News Breaks
January 17, 2014
09:26 EDTSLBSchlumberger is 'positively optimistic' for 2014, targets EPS up double digits
Expects Q2 and Q3 to show strong sequential growth while Q1 will see a decline in margins due to seasonal slowdown. Sees FY14 CapEx $3.8B. Expects FY14 EPR to be in the low- to mid- 20s. Internationally, Sees E&P customer spending up 6% in 2014. Expects first license round for Mexico energy reform to be held in late 2014, with the earliest impact on the company's activity in 2015. The business environment remains difficult with lower activity in Q4 for Brazil, and the company expects another challenging 2014 before activity growth likely resumes in 2015. Sees strong growth in northern Iraq while the activity in the south will likely remain flat in 1H14. Going into 2014, the company expects to continue investing activity in Central Asia region. Expects growth in Europe and Africa region to be driven by sub-Sahara Africa and to a certain extent, the North Sea. The company is also expected to see strong growth in 2014 for the Gulf of Mexico. The main challenge in North America land market will continue to be pricing. The international gas market is expected to remain stable supported by strong demand in Asia and improving demand in Europe. In the U.S. the company is assuming production level and strong competition with coal. Comments taken from Q4 earnings conference call.
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February 5, 2016
13:00 EDTSLBSchlumberger, Cameron merger receives unconditional clearance from EU
Schlumberger Limited (SLB) and Cameron (CAM) jointly announced that the European Commission has cleared their proposed merger without any conditions following a Phase 1 review. As previously announced, the U.S. Department of Justice cleared the proposed merger in November 2015 without any conditions; Cameron stockholders voted on December 17 to adopt the merger agreement between Schlumberger and Cameron; and antitrust clearances have been obtained in Canada, Brazil, Russia, and Mexico. Under the terms of the merger agreement, Schlumberger and Cameron only await regulatory approval from the Ministry of Commerce of the People's Republic of China. The Chinese authorities started their 30-day Phase 1 review process on February 4, 2016. The closing of the proposed merger remains subject to the satisfaction or waiver of the remaining customary closing conditions contained in the merger agreement. Schlumberger and Cameron expect to close the merger in the first quarter of 2016. Until that time, the companies will continue to operate as separate and independent entities and continue to serve their respective customers.
06:45 EDTSLBSchlumberger's acquisition of Cameron cleared by EU, Reuters reports
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