-
UPDATE: Global Hunter Raises PT on Ensco to $62 (ESV)
Wednesday, May 18, 2011 - 9:08am | 88Global Hunter is out with its report today on Ensco (NYSE: ESV), raising its PT from $61 to $62. In a note to clients, Global Hunter writes, "At 7.0x our 2012 EBITDA of $2.5 billion, we arrive at a $62 price target, which is up from our prior target of $61. The stock has solid upside to our $62...
-
Checking In: A Forgotten Global Oil Play
Tuesday, May 17, 2011 - 2:25pm | 459The universe of equity-based oil ETFs is now so expansive that it's not unheard of for a few funds to fall through the cracks. In particular, ETFs that focus on international oil companies seem to struggle to captivate investors here in the States as ETFs like the Energy Select Sector SPDR (NYSE:...
-
Duncan-Williams Reiterates Strong Buy and PT of $10.50 on Hercules Offshore (HERO)
Tuesday, May 17, 2011 - 8:20am | 200Duncan-Williams reiterated its Strong Buy rating on Hercules Offshore (NASDAQ: HERO). At the same time, Duncan-Williams left its price target unchanged at $10.50, even though it lowered its 2011 earnings per share forecast. In a research report published today, Duncan-Williams states, "HERO...
-
Duncan-Williams Reiterates Strong Buy and PT of $68 on Ensco (ESV)
Tuesday, May 17, 2011 - 8:14am | 147Duncan-Williams reiterated its Strong Buy rating on Ensco (NYSE: ESV). At the same time, it left its price target unchanged at $68. In a research report published today, Duncan-Williams states, "ENSCO released a fleet status with numerous changes. Three new contracts and one extension in Saudi...
-
Credit Suisse Reiterates Overweight on Ensco (ESV)
Tuesday, May 17, 2011 - 8:01am | 140Credit Suisse is out with its report today on Ensco (NYSE: ESV), reiterating Overweight. In a note to clients, Credit Suisse writes, "We maintain our 12-month target price of $71 per share, which is at parity with our DCF model, and reiterate our outperform rating on ESV shares on an attractive...
-
Global Hunter Maintains Neutral Rating, $41 PT on Rowan Companies
Tuesday, May 17, 2011 - 7:59am | 117Rowan Companies Inc. (NYSE: RDC) announced an agreement to sell LeTourneau manufacturing (LTI) to Joy Global (NASDAQ: JOYG) for $1.1 billion with expected deal closure possible in 2Q, Global Hunter reports. “The price seems reasonable for both sides, with RDC now having $875MM in after-tax...
-
Diamond Offshore Drilling Announces Two New-build Drillship Contarct Are Expected to Generate $1.8B in Revenue
Tuesday, May 17, 2011 - 7:01am | 81Diamond Offshore Drilling, Inc. (NYSE: DO) today announced that a subsidiary of the Company has entered into two term drilling contracts with Anadarko Petroleum Corporation. The contracts, which will utilize Diamond Offshore's two new-build drillships now on order, are expected to generate...
-
News Summary
Monday, May 16, 2011 - 9:38am | 215Shares of Rowan Companies Inc (NYSE: RDC) gained about 3.6% after Joy Global Inc (NASDAQ: JOYG) agreed to acquire LeTourneau Technologies Inc from Rowan Companies for $1.1 billion in cash. The deal has been approved by boards of directors of both the companies. Joy Global expects the deal to...
-
Stocks to watch on 5/16/11- VITA, LOW, NDAQ, ICE, NYX, PRM, JCP, JOYG, IRM, TCG, DISH, RDC, NFLX, SYK…
Monday, May 16, 2011 - 9:15am | 1372Orthovita Inc. (VITA) agreed to be acquired by Stryker Corp. (SYK) for a $3.85 a share in cash in a deal valued at $316 million. Lowe's Cos. (LOW) estimated that for the fiscal second quarter ending July 29, it would earn 65 cents to 69 cents a share on 4% higher total sales and 2% higher same-...
-
Rowan Announces Agreement to Sell LeTourneau Technologies for $1.1B
Monday, May 16, 2011 - 7:25am | 72Rowan Companies, Inc. (NYSE: RDC) announced today that it has entered into a share purchase agreement with Joy Global, Inc. (NASDAQ: JOYG) to sell all shares of common stock held by Rowan in LeTourneau Technologies, Inc. for $1.1 billion in cash. The Agreement is subject only to regulatory...
-
A Peek Into The Market Before The Trading Starts
Monday, May 16, 2011 - 7:23am | 393Pre-open movers US stock futures are lower this morning, after decline in global markets. Futures on the Dow Jones Industrial Average dipped 51 points to 12,505.00 and futures on the S&P 500 stock index fell 5.80 points to 1,328.00. Nasdaq 100 futures dropped 5.25 points to 2,364.75. A Peek...
-
Friday the 13th Somewhat Scary in the Markets 05-13-2011
Friday, May 13, 2011 - 6:23pm | 1039Cusick's Corner Here's something to look at over the weekend, check out options volatility ahead of earnings. Log into your optionsXpress account and check out the Volatility View chart, plus go to our Options Chains to see the Implied Volatility & Greeks on a strike-by-strike basis. Stocks...
-
Transocean Shareholders Approve Dividend; J. Michael Talbert Named Chairman
Friday, May 13, 2011 - 1:52pm | 71Transocean Ltd. (NYSE: RIG) announced that its shareholders approved a dividend of approximately U.S. $1 billion at the 2011 Annual General Meeting held today at Cham, Switzerland. In addition, the company's Board of Directors elected J. Michael Talbert as Chairman of the Board of Directors,...
-
Calls Purchased on Noble Corporation (NE)
Friday, May 13, 2011 - 10:22am | 138Shares of Noble Corporation (NYSE: NE) are higher on the session by 1.19%, currently trading at $40.04. The stock has been moving largely lower over the past two months and is currently trading between the 50-day and 200-day moving averages. Options traders are buying calls on the name today. A...
-
Bears Drilling Into Hercules Offshore (HERO)
Thursday, May 12, 2011 - 1:42pm | 135Shares of Hercules Offshore, Inc. (NASDAQ: HERO) are higher on the session by 1.69%, currently trading at $6.01. The stock has been moving largely higher over the past four months and is currently trading above the 50-day moving average. Options traders are buying puts on the name today. A short...