Lower 3Q Numbers For Noble Corporation

Fleet status update from Noble Corporation NE has lowered Oppenheimer's 3Q10 Estimates on NE. In a research report Oppenheimer writes, "The main change to our estimate is zero assumed revenue for the Amos Runner and the Homer Ferrington, both of which have contracts in dispute or arbitration. Added downtime also contributed to our lower numbers. We now estimate 3Q10 EPS of just $0.30 ($0.59 if the company can fully recoup revenue on these two rigs)." NE Closed Wednesday at $34.97