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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.
News For SLB From The Last 14 Days
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August 28, 2015
16:29 EDTSLBStocks end volatile week higher as China whipsaws U.S. market
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August 26, 2015
16:26 EDTSLBOn The Fly: Top stock stories for Wednesday
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12:47 EDTSLBOn The Fly: Top stock stories at midday
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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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09:25 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 EDTSLBC&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 19, 2015
07:33 EDTSLBCameron and Schlumberger's Subsea to supply pump system for Stones development
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August 17, 2015
08:04 EDTSLBAccenture to acquire Schlumberger Business Consulting
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