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Notable Put Options Activity in Hercules Offshore
Friday, August 19, 2011 - 3:49pm | 106Shares of Hercules Offshore (NASDAQ: HERO) are lower on the session by 2.87%, currently trading at $3.21. The stock has been moving largely lower over the past two months and is currently trading below the 50-day moving average. Options traders are focusing on puts today. A short while ago the...
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Citi Reiterates Transocean Buy
Thursday, August 18, 2011 - 4:00pm | 105Citi reiterated its Transocean (NYSE: RIG) Buy rating in a research report published today. Citi has previously given Transocean an $81 price target. In the report, Citi states, "The jackup contracts are a positive follow-though on favorable utilization trends in the lower-end of the asset class...
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Notable Put Options Activity in Hercules Offshore
Thursday, August 18, 2011 - 11:59am | 106Shares of Hercules Offshore (NASDAQ: HERO) are lower on the session by 5.41%, currently trading at $3.50. The stock has been moving largely lower over the past three months and is currently trading below the 50-day moving average. Options traders are focusing on puts today. A short while ago the...
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Nabors Prices $700 Million in Senior Unsecured Debt Offering
Tuesday, August 16, 2011 - 4:26pm | 101Nabors Industries Ltd. (NYSE: NBR) today announced that its wholly owned subsidiary, Nabors Industries, Inc., has priced $700 million in Senior Unsecured Notes due 2021, following the private placement offering it announced earlier today. The notes will bear interest at a rate of 4.625 percent and...
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Atwood Oceanics Announces Contract for the Atwood Eagle at $370K per Day
Tuesday, August 16, 2011 - 9:50am | 58Atwood Oceanics (NYSE: ATW), announced today that one of its subsidiaries has been awarded a six month contract by Chevron Australia Pty. Ltd. for the Atwood Eagle. With this contract, the firm contractual commitments for the Atwood Eagle are expected to extend through July 2012. The day rate...
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Morgan Keegan Lowers PT on Pioneer Drilling Company to $16.50
Tuesday, August 16, 2011 - 9:29am | 82Morgan Keegan is out with its report today on Pioneer Drilling Company (NYSE: PDC), lowering its PT to $16.50 from $20. In its report, Morgan Keegan writes, "We are lowering our price target for Pioneer to $16.50 from $20. Our updated price target is based on 15.0x our 2012 earnings estimate of $1...
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Gabelli Maintains Buy on Transocean
Tuesday, August 16, 2011 - 9:03am | 69Gabelli is out with its report today on Transocean (NYSE: RIG), maintaining Buy. In its report, Gabelli writes, "We continue to recommend purchasing Transocean shares and believe the stock is attractively valued trading at 9.8x our 2012 EPS estimate and 5.8 x our 2012 EBITDA estimate of $4.5...
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Solid Earnings Coupled with M&A Activity Illustrates Opportunity
Tuesday, August 16, 2011 - 7:19am | 312Global markets have fluctuated wildly in recent weeks, as investors jockey to protect themselves amid an onslaught of debt problems, political bickering, and renewed recession concerns. Less spoken about is some of the better economic news that continuously pops up across the world. Earnings at...
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Morning Gainers After One Hour of Trading
Monday, August 15, 2011 - 10:26am | 190Impax Laboratories (NASDAQ: IPXl) +10.54% after announcing positive topline results of ASCEND-PD phase III study of IPX066 in advanced Parkinson's disease. Cathay General Bancorp (NASDAQ: CATY) +11.21% - hearing that the company was upgraded to Outperform at RBC Capital Markets. Green Dot...
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A Peek Into The Market Before The Trading Starts
Monday, August 15, 2011 - 8:17am | 341Pre-open movers US stock futures are higher this morning, as investors are awaiting data on the manufacturing and housing sectors. Futures on the Dow Jones Industrial Average surged 39 points to 11,289.00 and futures on the S&P 500 stock index rose 5.20 points to 1,182.00. Nasdaq 100 futures...
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News Summary for August 15, 2011
Monday, August 15, 2011 - 7:46am | 634This is your Benzinga news summary and traders' outlook for Monday, August 15, 2011, covering headlines from overnight and Monday's pre-market session. Today in domestic pre-market trading, U.S. equity futures are trading higher. At last check, Dow futures are up about 40 points and the U.S....
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Transocean To Acquire Aker Drilling For $1.43B
Monday, August 15, 2011 - 7:43am | 58Transocean Ltd (NYSE: RIG) announced its plans to acquire Aker Drilling for $1.43 billion. Transocean will pay 26.50 kroner per share ($4.81) in cash for Aker Drilling, representing a 62% premium to Aker's 30-day average price of 16.39 kroner ($2.97) per share. The transaction also includes $800...
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US Stock Futures Up Ahead Of Economic Data
Monday, August 15, 2011 - 7:13am | 316US stock futures are higher this morning, as investors are awaiting data on the manufacturing and housing sectors. Futures on the Dow Jones Industrial Average surged 20 points to 11,270.00 and futures on the S&P 500 stock index rose 3.00 points to 1,179.80. Nasdaq 100 futures gained 4.75 points...
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Transocean Announces All Cash Offer to Acquire 100% of Aker Drilling for NOK 26.50 per Share
Monday, August 15, 2011 - 6:41am | 202Transocean Services AS, a wholly owned subsidiary of Transocean Ltd. (NYSE: RIG) today announced an all cash voluntary offer for 100 percent of the shares of Aker Drilling ASA for NOK 26.50 per share. The Board of Directors of Aker Drilling has unanimously recommended that its shareholders accept...
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M&A Monday: Some Companies Shake Off Last Week's Volatility
Monday, August 15, 2011 - 6:13am | 233Large swings in global markets last week had some investors fleeing for cover, but it appears that other investors are undeterred by the volatility. Two notably large corporations are expected to kick off this week with $1 billion+ deals. A source familiar with the matter told Reuters Sunday that...