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Jefferies Comments on Ensco's Merger with Pride
Friday, June 3, 2011 - 7:37am | 83Jefferies is providing commentary on Ensco's (NYSE: ESV) merger. “With the Pride (NYSE: PDE) merger complete, ESV is now positioned as the 2nd largest offshore driller in the world, with significant leverage to improving UDW floater and jack-up fundamentals,” Jefferies writes. “ESV remains one of...
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A Peek Into The Market Before The Trading Starts
Friday, June 3, 2011 - 7:33am | 389Pre-open movers US stock futures are lower this morning, as investors are awaiting payrolls figures. Futures on the Dow Jones Industrial Average dropped 33 points to 12,205.00 and futures on the S&P 500 stock index fell 4 points to 1,308.40. Nasdaq 100 futures declined 8.50 points to 2,317.50...
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Duncan-Williams Reiterates Strong Buy on Atwood Oceanics
Friday, June 3, 2011 - 7:22am | 112Duncan-Williams is out with its report today on Atwood Oceanics (NYSE: ATW), reiterating Strong Buy. In a note to clients, Duncan-Williams writes, "After the close yesterday, Atwood announced a new contract for the Atwood Aurora, a jackup rig presently in the shipyard in Italy. The new contract is...
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The Good, The Bad & The Ugly 06-01-2011
Wednesday, June 1, 2011 - 6:51pm | 933Cusick's Corner To say that this was an ugly close is an understatement. Now here's the good and the bad. The good is that the day is over (especially if you were long). The bad is that the market was down (300 on the Dow). This was a solid distribution day with a close below the lows of yesterday...
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Feds Claim Anadarko Liable For Gulf Spill -- Bloomberg
Wednesday, June 1, 2011 - 5:11pm | 207Anadarko Petroleum (NYSE: APC), which held a 25% non-operating interest in the Macondo well project, is liable for damages under the Oil Pollution Act and Clean Water Act, the Justice Department claims, according to a report by Bloomberg News. Texas-based Anadarko asked a federal judge to dismiss...
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Technicians See Hanging Man 06-01-2011
Wednesday, June 1, 2011 - 3:50pm | 945Cusick's Corner This is not a healthy move in the market today -- the S&Ps broke Tuesday's lows. Technicians called yesterday's move a "hanging man" which is a confirmed bearish bar when the market the next day slices through the low of the previous day. The ISM could be the catalyst, showing...
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11 Energy Companies That Hedge Funds Are Buying Like Crazy
Wednesday, June 1, 2011 - 1:03pm | 724Insider Monkey follows hedge fund managers because they're the smartest investors around. They leave less to chance than most investors. They go great lengths to get an “edge” over ordinary investors. Hedge fund managers also have the resources to do extensive research on public companies and they...
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Royale Energy Attracting Activity
Wednesday, June 1, 2011 - 11:43am | 60Royale Energy (NASDAQ: ROYL) is attracting some activity on Wednesday. The shares have added 4.26% to $3.59. This is a very volatile penny stock that is prone to huge rises when oil is moving higher and energy stocks are hot. ROYL has a market cap of just $37.81 million. The stock's 52-week range...
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Options Brief: Ensco plc
Wednesday, June 1, 2011 - 10:18am | 82Shares of Ensco plc (NYSE: ESV) are higher on the session by 1.37%, trading at $54.05. Overall call volume is now running at 2.42x the daily average, with 3% of all calls traded being purchases on the offer. 6,324 contracts have traded on the session so far. Ensco plc, formerly Ensco...
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Rowan Announces Contracts to Build Two 12,000 Foot Drillships, Ships will Cost $605M Each
Wednesday, June 1, 2011 - 9:56am | 121Rowan Companies, Inc. (NYSE: RDC) announced today that a subsidiary has entered into turnkey contracts for the construction of two ultra-deepwater drillships with a cost of approximately $605 million each. The drillships will be constructed by Hyundai Heavy Industries Co., Ltd. at its Ulsan...
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Duncan-Williams Drops Coverage of Pride International
Wednesday, June 1, 2011 - 6:58am | 94Duncan-Williams dropped its coverage of Pride International (NYSE: PDE) after the company has been taken over by ENSCO (NYSE: ESV). In a research report published today, Duncan-Williams states, "We are dropping coverage of Pride International, Inc. ENSCO (NYSE : ESV : Strong Buy rating) announced...
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Chesapeake Energy Corporation and Bronco Drilling Company Announce Entry into an Agreement in Principle in Shareholder Lawsuit
Tuesday, May 31, 2011 - 4:02pm | 103Chesapeake Energy Corporation (NYSE: CHK) and Bronco Drilling Company, Inc. (NASDAQ: BRNC) today announced that they entered into an agreement in principle on May 27, 2011 as to the key terms of the settlement agreement in connection with the putative consolidated class action, captioned Shriver v...
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Long DO and ARR
Tuesday, May 31, 2011 - 3:03pm | 105Two new trades to speak of, beyond the trade in Bed Bath & Beyond this morning, with Diamond Offshore Drilling (DO) at $73.36 and Armour Residential at $7.70. I also picked up a couple of trades in SSO - the Ultra 2x Long of the S&P as I bought on extreme negative tick readings earlier this...
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Puts Purchased on Nabors Industries Ltd.
Tuesday, May 31, 2011 - 11:20am | 122Shares of Nabors Industries Ltd. (NYSE: NBR) are higher on the session by 1.12%, currently trading at $27.93. The stock has been moving largely higher over the past four months and is currently consolidating between the 50-day and 200-day moving averages. Options traders are buying puts on the...
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Top 4 Mid-Cap Stocks In The Oil & Gas Drilling & Exploration Industry With The Highest Cash
Tuesday, May 31, 2011 - 1:00am | 126Below are the top mid-cap oil & gas drilling & exploration stocks on the NYSE and NASDAQ in terms of cash. Ensco plc (NYSE: ESV) had $3.43 billion in total cash and $2.72 billion in total debt for the latest quarter. Seadrill Limited (NYSE: SDRL) had $1.35 billion in total cash and $9.78...