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Stock Market & Financial Investment News

News Breaks
June 18, 2014
12:09 EDTBP, SLB, WFT, BHI, XOMIraqi oil official: Exxon carries out major evacuation in Iraq, CNBC reports
Exxon Mobile (XOM) has carried out a "major evacuation" and BP (BP) has evacuated 20% of its staff in Iraq following the advance of Sunni militants through the country, reports CNBC, citing comments from the head of Iraq's state-run South Oil Company. Dhiya Jaffar added that ENI, Schlumberger (SLB), Weatherford (WFT) and Baker Hughes (BHI) have no plans to evacuate staff from the country. Reference Link
News For XOM;BP;SLB;WFT;BHI From The Last 14 Days
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September 2, 2014
09:02 EDTBPHalliburton reaches $1.1B settlement on claims related to Macondo
Halliburton (HAL) announced that it has reached an agreement to settle a substantial majority of the plaintiffsí class claims asserted against the company as a result of the April 20, 2010 Macondo well incident in the Gulf of Mexico. The approximately $1.1B settlement, which includes legal fees, is subject to approval by the United States District Court for the Eastern District of Louisiana, and will be paid into a trust until all appeals have been resolved in three installments over the next two years. The companyís previously accrued loss contingency provision relating to the multi-district litigation proceedings is currently $1.3B. The agreement includes the following: Claims against Halliburton that BP (BP) assigned to the settlement class in BPís April 2012 settlement, Punitive damages claims against Halliburton by a class of plaintiffs who allege damages to property or associated with the commercial fishing industry arising from the Deepwater Horizon Incident, and Affirmation that Halliburton has no liability for compensatory damages to the members of the settlement class in the BP April 2012 settlement. Payments will be held in the trust, pending the finalization of this settlement which is contingent on final Court approval, including any appeals of: The BP 2012 settlement with the settlement class, The District Courtís earlier determination that the contractual indemnity provided by BP to Halliburton is valid and enforceable, and The District Courtís earlier dismissal of economic damage claims against Halliburton. Additionally, the settlement is subject to an agreed-upon level of participation by the current claimants which, if not achieved, allows Halliburton to terminate the agreement.
August 29, 2014
18:01 EDTSLBSchlumberger executives sell company stock near record high, Barron's reports
From July 25 to August 28, four Schlumberger executives, including CFO Simon Ayat, sold thousands of shares of company stock, Barron's reports. Adjusted for dividends and splits, Schlumberger shares notched a record intra-day high of $118.76 on July 1, Barron's added. Reference Link
13:07 EDTBHIBaker Hughes reports U.S. rig count up 18 to 1914 rigs
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09:37 EDTBPActive equity options trading on open
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06:38 EDTBP, XOMRising oil supplies pressuring prices, NY Times says
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August 28, 2014
09:34 EDTBPBP confirms refinery 'minimally' affected after fire, AP reports
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07:35 EDTBPBP downgraded to Underweight from Equal Weight at Morgan Stanley
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August 27, 2014
06:22 EDTXOMExxon division pays $1.4M to settle Louisiana spill claims, Reuters says
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August 24, 2014
14:44 EDTSLBSchlumberger acquisitions should help North American push, WSJ says
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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.
06:39 EDTBPBP drops $9.3B on fuel stations, exploration in Australia, Bloomberg says
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