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Stock Market & Financial Investment News

News Breaks
May 21, 2014
07:46 EDTSNP, WFTSinopec, Weatherford forming oilfield services joint venture, Reuters says
Sinopec (SNP) confirmed an agreement to form an oilfield services joint venture with Weatherford International (WFT), but did not give any financial details, though sources from the venture told Reuters that the newly formed company has a registered capital of more than $50M, the news service reported. Reference Link
News For SNP;WFT From The Last 14 Days
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August 26, 2014
09:50 EDTSNPOn The Fly: Analyst Downgrade Summary
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09:37 EDTSNPSinopec downgraded to Underperform from Hold at Jefferies
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August 25, 2014
10:00 EDTSNPOn The Fly: Analyst Downgrade Summary
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09:36 EDTSNPSinopec downgraded to Neutral from Buy at Citigroup
August 22, 2014
16:18 EDTWFTWeatherford recommends rejection of 'Mini-Tender' offer by TRC Capital
Weatherford International has received notification of an unsolicited "mini-tender" offer by TRC Capital Corporation to purchase up to 5M shares, or approximately 0.65%, of the outstanding ordinary shares of Weatherford at $21.15 per share. TRC Capital's offer is approximately 4.3% below Weatherford's closing price of $22.10 on August 18, the day before the offer commenced. Weatherford does not endorse this unsolicited mini-tender offer and recommends that shareholders reject the offer. Weatherford recommends that shareholders who have not responded to TRC Capital reject the offer by taking no action because the offer is at a price below the current market price for Weatherford shares and is subject to numerous conditions, including any decrease in the market price of Weatherford's shares and the ability of TRC Capital to obtain financing on satisfactory terms. Weatherford further recommends that shareholders who have already tendered shares in TRC Capital's offer withdraw their shares by providing the written notice described in the offering documents prior to the time of expiration stated in the offer, which is on Thursday, September 18.

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