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Transocean Announces Release of Internal Investigation Report on Causes of Macondo Well Incident
Wednesday, June 22, 2011 - 7:27am | 201Transocean Ltd. (NYSE: RIG) today announced the release of an internal investigation report on the causes of the April 20, 2010, Macondo well incident in the Gulf of Mexico. Following the incident, Transocean commissioned an internal investigation team comprised of experts from relevant technical...
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Market Bubbles then Fizzes 06-21-2011
Tuesday, June 21, 2011 - 3:30pm | 1058Cusick's Corner Plop, Plop, Fizz, Fizz, - oh what a rally relief it is. The market has bubbled up and now pulled off the highs going into the Midday. The Housing data came in a little better than expected this morning but the market into the Midday hit resistance, 1291 on the S&P Continuous...
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Oil and Gas Sector Bouncing Back
Monday, June 20, 2011 - 3:04pm | 397The Oil and Gas Sector has been gaining strength over the past thirty minutes, after bouncing off of its lows of the day – currently up 0.61% on the session. The best performing stocks currently in the S&P 500 Oil & Gas Sector currently are: 1) Helmerich & Payne (NYSE: HP): Shares of...
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Duncan Williams Maintains Nabors Industries Buy, $37.50 PT
Monday, June 20, 2011 - 1:02pm | 103Duncan Williams maintained its Nabors Industries (NYSE: NBR) Buy rating and $37.50 price target in a research report published today. In the report, Duncan Williams states, "The company indicated weather delays in the Bakken and Marcellus areas had lowered revenues as well as late deliveries for...
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Market Roundup
Monday, June 20, 2011 - 10:42am | 217Shares of Carpenter Technology Corp (NYSE: CRS) surged about 10% after the company announced its plans to buy Latrobe Specialty Metals Inc for $558 million. Latrobe's shareholders will own around 15.5% of Carpenter's outstanding common stock. The deal is expected to close by September 30. Shares...
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Nabors Shares Drop 3.2% In Pre-Market Trading
Monday, June 20, 2011 - 8:51am | 58Shares of Nabors Industries Ltd (NYSE: NBR) dropped about 3.2% in pre-market trading after the company projected Q2 operating profit to be in the range of $165 million to $170 million. NBR shares fell 3.25% to $23.25 in pre-market trading. Read more from Benzinga's Company news.
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Nabors Issues Q2 Operating Profit Guidance
Monday, June 20, 2011 - 6:48am | 62Nabors Industries Ltd (NYSE: NBR) projects Q2 operating profit to be in the range of $165 million to $170 million, due to weaker-than-expected results from its pressure pumping, US offshore and international divisions. NBR shares dropped 3.69% to close at $24.03 on Friday. Read more from Benzinga...
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Citi Reiterates Buy on Transocean
Friday, June 17, 2011 - 9:07am | 124Citi is out with its report on Transocean (NYSE: RIG), reiterating Buy. In a note to clients, Citi writes, "The substantial downtime increases could pose a near-term risk to earnings this quarter. We may see a repeat of the 1Q11 earnings report in which analyst estimates failed to incorporate a...
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Duncan-Williams Reiterates Strong Buy on Transocean, Raises PT to $101.25
Friday, June 17, 2011 - 7:54am | 131Duncan-Williams reiterated its Strong Buy rating on Transocean (NYSE: RIG). At the same time, Duncan-Williams raised its price target on the company's stock to $101.25 from $97.50 after increasing its earnings per share estimates for the next two years. In a research report published today,...
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Jefferies Reiterates Buy on Ensco
Friday, June 17, 2011 - 7:37am | 100Jefferies is out with its report today on Ensco (NYSE: ESV), reiterating Buy. In a note to clients, Jefferies writes, "Overall, we believe that the ESV story and offshore drilling cycle remains firmly on track and expect upside surprises for both dayrates and utilization during the back half of...
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Oil & Gas Sector Bouncing Back
Thursday, June 16, 2011 - 12:56pm | 434The Oil & Gas Sector, which took a beating in yesterday's trading session, is leading the market in today's action, currently up 1% on the day. The best performing stocks in the S&P 500 Oil & Gas Sector currently are: 1) Cabot Oil & Gas (NYSE: COG): Shares of Cabot Oil & Gas...
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J.P. Morgan Maintains UW Rating on Diamond Offshore
Thursday, June 16, 2011 - 7:49am | 95J.P. Morgan is maintaining its Underweight rating on shares of Diamond Offshore (NYSE: DO). “We continue to rate Diamond Underweight with a year-end 2011 price target of $68,” J.P. Morgan writes. “Our price target assumes the shares trade roughly in line with our $71 DCF estimate. “Our price...
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Stock Trade Ideas for Tuesday, June 14
Monday, June 13, 2011 - 5:45pm | 1361( click to enlarge ) Zagg Inc (NASDAQ:ZAGG) rallied another 5% on heavy volume. The stock hit a high of $12.50, which is now resistance for Tuesday's continuation move. ( click to enlarge ) THQ Inc. (NASDAQ:THQI) held up well in the weak market. Short term, I'm looking for a bounce on THQI...
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Atwood Oceanics Announces Delay of Decision Deadline to Exercise Option to Construct Additional Jack-Up Drilling Unit
Monday, June 13, 2011 - 4:44pm | 82Atwood Oceanics (NYSE: ATW), announced today that on June 9, 2011, one of its subsidiaries had reached an agreement with the PPL Shipyard PTE LTD to delay the required commitment date for the next Pacific Class 400 jack-up drilling unit option until December 31, 2011, concurrent with the commitment...
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Sector Update: Oil & Gas Continues its Plunge
Monday, June 13, 2011 - 2:46pm | 318The Oil & Gas sector is the worst performing area of the market in today's trading session, currently down 1.2% on the day. The worst performing stocks in the Oil & Gas Sector currently are: 1) Nabors Industries (NYSE: NBR): Shares of Nabors Industries are currently trading down 4.3% from...