Citi Lowers EPS Estimates For Noble Corp.

Citi has revised the 3Q10 adjusted EPS for Noble Corp. NE to $0.34 per share from $0.39 per share to conform with the Thomson One reported EPS figure. It previously excluded from the 3Q10 results $14 million of transaction costs associated with the acquisition of FDR Holdings Limited at the end of July 2010. Our full year 2010 EPS estimate is now $3.02 per share and our earnings estimates for 2011 and 2012 are unchanged. Citi has a Buy rating and $42 PT on Noble Corp. NE closed Monday at $55.14