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Pioneer Drilling Announces Offering of 6,000,000 Shares of Common Stock
Tuesday, July 12, 2011 - 4:27pm | 182Pioneer Drilling Company (NYSE: PDC) today announced that it is publicly offering 6,000,000 shares of its common stock pursuant to the Company's effective shelf registration statement filed with the U.S. Securities and Exchange Commission. Goldman, Sachs & Co. and Jefferies & Company, Inc...
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Hottest and Coldest Sectors for Friday 7/8/11
Friday, July 8, 2011 - 5:24pm | 1918The S&P 500 lost 9.4 points, or 0.7%, in Friday's trading session, as a weaker-than-expected jobs report put an end to the recent market rally. The SPX is now 26.78 points lower than its 52-week high of 1370.58, which was set on May 2nd. The Sector breakdown for Friday's session is as follows...
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PBS Nightly Business Report Opens Phoenix Bureau
Friday, July 8, 2011 - 8:39am | 133NBR Worldwide LLC, the owner of PBS' Nightly Business Report (NBR), has announced the opening of a new Phoenix bureau as part of an agreement with Eight, Arizona PBS. The Phoenix bureau will cover stories about business and economic issues in Arizona and discuss and detail their national and global...
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Stocks to Watch for 07/8/11: Fresh 52 Week Highs and Lows
Friday, July 8, 2011 - 12:59am | 2553Stocks trading at or near 52-week highs and lows provide excellent trading opportunities, as volatility tends to increase at such levels. The following stocks hit new 52-week highs in Thursday's trading session (listed from highest total volume to lowest): 1) Shares of Level 3 Communications hit...
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Hottest and Coldest Sectors for Thursday 7/7/2011
Thursday, July 7, 2011 - 7:35pm | 1705The S&P 500 (SPX) gained 14 points, or 1%, in today's session to close at 1353.22. The index is nearing its 52-week high of 1370.58, which was set on May 2nd. The Sector breakdown for Thursday's session is as follows: The S&P 500 was led by the Basic Materials Sector in Thursday's session...
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Pritchard Capital Terminates Coverages
Thursday, July 7, 2011 - 4:41pm | 82Pritchard Capital terminated coverage of Cimarex Energy (NYSE: XEC), ultra Petroleum (NYSE: UPL), EOG Resources (NYSE: EOG), Murphy Oil (NYSE: MUR), Comstock Resources (NYSE: CRK), and Unit (NYSE: UNT) in research reports published today.
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Oil Prices: Looking Back One Year for Clues
Thursday, July 7, 2011 - 12:18pm | 633Last year at this time, I recommended one specific oil investment to buy in order to take advantage of rising prices. Before I review this investment, I'd like to discuss why this time of year might be the best time to add to or build a position in oil investments. As I noted this time last year...
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Gabelli Maintains Buy on Transocean
Thursday, July 7, 2011 - 9:07am | 71Gabelli is out with its report today on Transocean (NYSE: RIG), maintaining Buy. In a note to clients, Gabelli writes, "We continue to recommend purchasing Transocean shares and believe the stock is attractively valued trading at 9.5x our 2012 EPS estimate and 6x our 2012 EBITDA estimate of $4.6...
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Swing & Fade Traders Frustrated 07-06-2011
Wednesday, July 6, 2011 - 5:48pm | 827Cusick's Corner The market is in a light volume, range-bound environment that has no solid leadership across the board. We are seeing stocks and commodities that are trading now in a range to the upside but the huge trend, a break out or down, has not been confirmed. If you look at the S&Ps,...
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Transocean's Rig Troubles…Again!!!
Wednesday, July 6, 2011 - 3:59pm | 286Late in the afternoon, volatility hit Transocean's (RIG) stock price as the wires reported a possible water leak in the Mariana Rig off of the coast of Ghana. The rig is currently working for Eni who already has had supply disruptions due to the conflict in Libya. The original news came at 2:44pm...
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Transocean Says Rig Stable Now
Wednesday, July 6, 2011 - 2:58pm | 80Transocean (NYSE: RIG) just issued a report saying the rig in question is stable at this time. As such, shares are moving off the lows, with shares off $2.22 to $62.05, a loss of 3.45% after having been down much more than that after the rumor/news hit. In an interesting tidbit, John Paulson's...
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Transocean Dropping On Rig Evacuation
Wednesday, July 6, 2011 - 2:45pm | 51Shares of Transocean LTD (NYSE: RIG) just took a slight tinge down, and are now off more than 3% on reports that one of the company's rigs is being evacuated out of West Africa. At last check, shares were off $2.42 to $61.85, a loss of 3.77%.
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Duncan Williams Reiterates Noble Strong Buy, $61.50 PT
Wednesday, July 6, 2011 - 12:44pm | 89Duncan Williams reiterated its Noble (NYSE: NE) Strong Buy rating and $61.50 price target in a research report published today. In the report, Duncan Williams states, "Noble's fleet status indicates some revival in the jackup market as new contracts have been signed in the North Sea. The last...
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Pritchard Capital Provides Color on Oil Sector
Tuesday, July 5, 2011 - 6:51am | 168Pritchard Capital provided color on the oil sector. In a research report published today, Pritchard states, “The Oil Service Index (OSX-269.67) advanced 8.4% last week to outperform the S&P 500 (1,339.67) by 280 basis points. Oil service shares, at least within our coverage universe, largely...
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Duncan Williams Reiterates Atwood Oceanics Strong Buy, $60.75 PT
Friday, July 1, 2011 - 1:53pm | 87Duncan Williams reiterated its Atwood Oceanics (NYSE: ATW) Strong Buy rating and $60.75 price target in a research report published today. In the report, Duncan Williams states, "Atwood's fleet status had no new contracts, however, the Atwood Aurora has completed its enhancements in Italy. We have...