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Wells Fargo Upgrading Vantage Drilling
Thursday, August 4, 2011 - 8:47am | 159Wells Fargo is out with a research report on Vantage Drilling Co. (NYSE: VTG) and is upgrading shares to Outperform, and it has a $2 to $2.20 price target on shares. In a note to clients, Wells Fargo writes, "We are basing our $2.00-2.20 valuation range on a 15-20% premium to estimated NAV. We...
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Atwood Oceanics Announces Twelve-Month Contract Extension for the Vicksburg
Wednesday, August 3, 2011 - 5:19pm | 74ATWOOD OCEANICS, INC., a Houston-based international offshore drilling contractor (NYSE: ATW), announced today that one of its subsidiaries has been awarded a twelve-month contract extension with an affiliate of Coastal Energy Company for the jack-up Vicksburg, priced at the current day rate of $90...
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Credit Suisse Upgrading Rowan Companies
Wednesday, August 3, 2011 - 8:47am | 133Credit Suisse is out with a research report on Rowan Companies (NYSE: RDC) and is upgrading shares to Neutral from Underperform and raising its price target to $46 from $40. In a note to clients, Credit Suisse writes, "We are upgrading RDC shares to Neutral from Underperform given clear evidence...
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This Company Makes BP Pay Up
Tuesday, August 2, 2011 - 9:56am | 620Concerns over limited future oil production in the Middle East point to the growing importance of domestic energy production. The Obama administration, just like every administration before it, appears adamant that domestic energy production must grow. While there remain concerns about the future...
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Earnings Roundup
Tuesday, August 2, 2011 - 9:30am | 1919Archer Daniels Midland Co (NYSE: ADM) reported a decline in its fiscal fourth-quarter profit. Archer Daniels Midland reported its quarterly profit at $381 million, or $0.58 per share, down from $446 million, or $0.69 per share, in the year-earlier period. Analysts were expecting earnings of $0.85...
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UPDATE: Rowan Reports Q2 Profit of $465.9M
Tuesday, August 2, 2011 - 9:27am | 93Rowan Companies Inc (NYSE: RDC) released its results for the second quarter on Tuesday. Rowan reported its Q2 profit at $465.9 million, or $3.65 per share, up from $90.9 million, or $0.79 per share, in the year-earlier period. Rowan reported its Q2 net earnings from continuing operations at $44.4...
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Options Brief: Rowan Companies
Monday, August 1, 2011 - 3:17pm | 82Shares of Rowan Companies (NYSE: RDC) are lower on the session by 0.89%, trading at $38.82. Overall call volume is now running at 4.52x the daily average, with 78% of all calls traded being purchases on the offer. 4,076 contracts have traded on the session so far. Rowan Companies, Inc. is a...
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Noble Corporation Exercises Options to Construct Two Additional High-Specification Jackups
Monday, August 1, 2011 - 8:47am | 244Noble Corporation (NYSE: NE) today announced that the Company has exercised options with Sembcorp Marine's subsidiary Jurong Shipyard for the construction of two additional high-specification heavy duty, harsh environment JU3000N jackup drilling rigs. This order will bring to six the total number...
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Citi Comments On Hercules Offshore Debt
Monday, August 1, 2011 - 8:27am | 121According to Citi, Hercules Offshore (NASDAQ: HERO) it believes the risk/reward has tilted more in HERO's favor following its comments that jackup demand may be improving in the Gulf of Mexico. Citi said that although HERO is not out of the woods yet in terms of managing down its debt to avoid a...
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Deutsche Bank Updates 8/1
Monday, August 1, 2011 - 7:33am | 927Deutsche Bank made a number of updates in a research report published today. American Axle & Manufacturing (NYSE: AXL) had its rating reiterated at Hold. On Friday, AXL added 8.82% to its value to finish the week at $11.47. Tenneco (NYSE: TEN) had its rating reiterated at...
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Rowan Elects Two New Executive Officers
Monday, August 1, 2011 - 7:02am | 174Rowan Companies (NYSE: RDC) announced today that Thomas P. Burke has been appointed to serve as the Company's Chief Operating Officer, and Melanie M. Trent has been appointed to serve as Senior Vice President, Chief Administrative Officer and Corporate Secretary. Matt Ralls, Rowan's President...
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Rowan Elects New COO and CAO
Monday, August 1, 2011 - 7:00am | 49Rowan Companies, Inc. (NYSE: RDC) announced today that Thomas P. Burke has been appointed to serve as the Company's Chief Operating Officer, and Melanie M. Trent has been appointed to serve as Senior Vice President, Chief Administrative Officer and Corporate Secretary.
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Duncan Williams Reiterates Strong Buy on Ensco, Raises PT to $88.50
Monday, August 1, 2011 - 6:39am | 44Duncan Williams reiterated its Strong Buy rating on Ensco (NYSE: ESV). At the same time, the rating agency raised its price target from $68 to $88.50. On Friday, ESV added 1.18% to its value to end the week at $53.25.
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Duncan Williams Reiterates Reduce on Helmerich & Payne
Monday, August 1, 2011 - 6:36am | 48Duncan Williams reiterated its Reduce rating on Helmerich & Payne (NYSE: HP). At the moment, the rating agency does not have a price target placed on the company's stock. On Friday, HP lost 3.78% of its value to finish the day at $69.05.
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Kirkland's Inc: Another Kick at the Can ($KIRK)
Monday, August 1, 2011 - 6:00am | 1835Kirkland's, Inc. (NASDAQ: KIRK) is a retailer of home decor, with 293 stores throughout the southeastern United States. I came across KIRK via Saj Karsan's blog back in November, and I agreed with his analysis and confirmed via my own valuation and research the opportunity that was presented at...