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Stock Market & Financial Investment News

News Breaks
November 12, 2012
17:44 EDTWFTWeatherford restates 1Q12 results, sees material weakness in internal controls
The company has restated previously reported results for the first quarter 2012 and revised its preliminary second quarter 2012 results to correct errors in revenue and operating income amounts associated with a percentage of completion contract. In connection with these corrections we identified a material weakness in internal controls over financial reporting related to the accounting for a percentage of completion contract in Iraq. The unfavorable adjustments to the first and second quarters operating income total $24M and $55M, respectively. The company has implemented additional controls and procedures over percentage of completion accounting during the third quarter of 2012 to remediate the issues related to Iraq and these will be taken into account in our internal control assessment at year end 2012.
News For WFT From The Last 14 Days
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October 15, 2014
11:39 EDTWFTOil services companies rebound after positive notes from analysts
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10:02 EDTWFTOn The Fly: Analyst Initiation Summary
Today's noteworthy initiations include: Atwood Oceanics (ATW) initiated with a Buy at ISI Group... Baker Hughes (BHI) initiated with a Buy at Citigroup... Basic Energy (BAS) initiated with a Buy at ISI Group... C&J Energy (CJES) initiated with a Buy at ISI Group... CARBO Ceramics (CRR) initiated with a Hold at ISI Group... CHC Group (HELI) initiated with a Buy at ISI Group... Cameron (CAM) initiated with a Buy at ISI Group... Chart Industries (GTLS) initiated with a Buy at ISI Group... Core Laboratories (CLB) initiated with a Buy at ISI Group... Diamond Offshore (DO) initiated with a Sell at ISI Group... Dresser-Rand (DRC) initiated with a Sell at ISI Group... Dril-Quip (DRQ) initiated with a Buy at ISI Group... Ensco (ESV) initiated with a Buy at ISI Group... FIS (FIS) initiated with a Market Perform at BMO Capital... FMC Technologies (FTI) initiated with a Buy at ISI Group... GoPro (GPRO) initiated with a Sector Perform at Pacific Crest... Halliburton (HAL) initiated with a Buy at ISI Group... Helmerich & Payne (HP) initiated with a Neutral at Citigroup... Hercules Offshore (HERO) initiated with a Sell at ISI Group... Key Energy (KEG) initiated with a Buy at ISI Group... Maxwell (MXWL) reinstated with a Buy at Canaccord... Nabors Industries (NBR) initiated with a Buy at ISI Group... Noble Corp. (NE) initiated with a Buy at ISI Group... Oceaneering (OII) initiated with a Buy at ISI Group... Paragon Offshore (PGN) initiated with a Buy at ISI Group... Parker Drilling (PKD) initiated with a Buy at ISI Group... Patterson-UTI (PTEN) initiated with a Buy at Citigroup... Peabody (BTU) initiated with an Underperform at Imperial Capital... RPC, Inc. (RES) initiated with a Buy at Citigroup... Receptos (RCPT) initiated with a Buy at Goldman... Rowan Companies (RDC) initiated with a Buy at ISI Group... Schlumberger (SLB) initiated with a Buy at ISI Group... Sensata (ST) resumed with a Buy at Citigroup... Tidewater (TDW) initiated with a Hold at ISI Group... Transocean (RIG) initiated with a Sell at ISI Group... Weatherford (WFT) initiated with a Buy at ISI Group.
07:11 EDTWFTWeatherford initiated with a Buy at ISI Group
Target $29.
06:32 EDTWFTCiti rolls out Oil Services coverage, recommends two pair trades
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06:11 EDTWFTWeatherford initiated with a Neutral at Citigroup
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October 10, 2014
10:01 EDTWFTOn The Fly: Analyst Upgrade Summary
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05:53 EDTWFTWeatherford upgraded to Buy from Hold at Societe Generale
Societe Generale upgraded Weatherford to Buy with a $24 price target.

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