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How to Play a Possible Obama Oil Price Bump
Friday, July 1, 2011 - 1:46pm | 810It's only been a week since the Obama Administration announced it, along with many other nations, was releasing a total of 60 million barrels of crude oil, including 30 million alone from the US strategic oil reserves. The official reasoning was that the US reserves were at capacity and this...
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Citi Reiterates Rowan Hold
Thursday, June 30, 2011 - 2:11pm | 84Citi reiterated its Rowan (RDC) Hold rating in a research report published today. Citi has previously given Rowan a $45 price target. In the report, Citi states, "Near-term catalysts include securing three-year contracts with Saudi Aramco on 116-Cs in the Middle East and the divestiture of its 30...
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Mad Money Lightning Round: Cramer Advises Investors To Buy Illumina
Thursday, June 30, 2011 - 1:09am | 338On CNBC's Mad Money, Jim Cramer said during the Lightning Round that Hudson City Bancorp (NASDAQ: HCBK) "turned out to be far more controversial than I realized ... If you want a good regional, I suggest First Niagara Financial (NASDAQ: FNFG)." For Transocean (NYSE: RIG), he said, "I like it, a...
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Transocean Announces W. Richard Anderson to Leave Board of Directors
Wednesday, June 29, 2011 - 4:15pm | 43Transocean Ltd. (NYSE: RIG) announced today that W. Richard Anderson has resigned from its Board of Directors, effective immediately, due to the demands of his duties as Chief Financial Officer of Eurasia Drilling Company Limited.
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Calls Purchased on Patterson-UTI Energy
Tuesday, June 28, 2011 - 10:52am | 129Shares of Patterson-UTI Energy, Inc. (NASDAQ: PTEN) are higher on the session by 5.48%, currently trading at $29.24. The stock has been moving largely higher over the past five months and is currently trading above the 200-day moving average. Options traders are buying calls on the name today. A...
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Citi Raises Estimates On Rowan
Tuesday, June 28, 2011 - 8:41am | 52According to Citi, Rowan Companies (NYSE: RDC) estimates are raised. Citi said that it has raised its EPS estimates based on new contracts in today's fleet status report. “Of note, our 2Q11 EPS has increased to $0.46 from $0.42 vs. $0.43 consensus.” Rowan Companies closed yesterday at $36.09.
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Pritchard Capital Provides Color on Drilling
Tuesday, June 28, 2011 - 8:07am | 128Pritchard Capital provided color on the drilling sector. In a research report published today, Pritchard Capital states, “Land drilling stocks are leading the rally in the drilling industry. While we believe all the stocks are likely to see significant appreciation, we think Pioneer Drilling...
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Duncan Williams Upgrades Rowan Companies to Strong Buy, Raises PT to $50.25
Tuesday, June 28, 2011 - 6:45am | 52Duncan Williams upgraded its rating on Rowan Companies (NYSE: RDC) to Strong Buy from Buy. At the same time, the rating agency raised its price target on the company's stock from $46.50 to $50.25. On Monday, Rowan added 0.47% to its value to end the day at $36.09.
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Duncan Williams Upgrades Rowan Companies To Strong Buy, PT At $50.25
Tuesday, June 28, 2011 - 5:46am | 29Duncan Williams has upgraded Rowan Companies (NYSE: RDC) from Buy to Strong Buy and has raised the price target from $46.50 to $50.25.
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New investment in Facebook values it at $70 billion
Monday, June 27, 2011 - 2:42pm | 412Reuters is reporting that investment fund GSV Capital Corp has made a small investment in Facebook, the world's most popular social network. As a result of the deal, Facebook is now valued at an astonishing $70 billion. At $70 billion, Facebook is just below Amazon, Cisco, and Hewlett-Packard (HP...
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New investment in Facebook values it at $70 billion
Monday, June 27, 2011 - 2:42pm | 419Reuters is reporting that investment fund GSV Capital Corp has made a small investment in Facebook, the world's most popular social network. As a result of the deal, Facebook is now valued at an astonishing $70 billion. At $70 billion, Facebook is just below Amazon, Cisco, and Hewlett-Packard (HP...
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Dahlman Rose Comments on Nabors Industries
Monday, June 27, 2011 - 12:00pm | 139Dahlman Rose provided color on Nabors Industries (NYSE: NBR) in a research report published today. Dahlman Rose has previously given Nabors a Hold rating and left its Nabors price target unchanged at $33. In the report, Dahlman Rose states, "Lower-than-expected results from its Pressure Pumping,...
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Transocean study blames BP
Wednesday, June 22, 2011 - 7:19pm | 93The owner of the Deepwater Horizon rig that caught fire and exploded in the Gulf of Mexico last year largely blames oil giant BP (BP), which owned the well, for the disaster. Eleven rig workers died and an estimated 206 mil gallons of oil spewed into the Gulf. A Transocean (RIG) report said the...
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Transocean
Wednesday, June 22, 2011 - 7:19pm | 39Transocean (RIG) was charged by a Norwegian prosecutor with evading taxes worth $1.8 bil. The charges against Transocean and Transocean Offshore Deepwater Drilling are related to the sale of 12 oil rigs 10 years ago.
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Wednesday's S&P Sector Recap 6/22/11
Wednesday, June 22, 2011 - 5:44pm | 1502The S&P 500 traded in positive territory for most of session on Wednesday, but sellers came in around 2:25pm, as the index neared its intraday high of 1298.61. The S&P proceeded to drop 11.47 points to close at 1287.14 – down 8.38 on the day. The Sector Breakdown for Wednesday's session...