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Jefferies Forecasts Strong Improvement In Offshore Drilling; Favorites Include ESV And RDC
Tuesday, January 11, 2011 - 8:51am | 148Jefferies reports that although it forecasts a strong improvement in offshore drilling activity in 2011, “we believe the offshore drillers will have difficulty sustaining the recent rally due to various headwinds.” Conversely, Jefferies believes the OSV sector may be finally poised to outperform. “...
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Jefferies Upgrades HERO To Buy
Tuesday, January 11, 2011 - 7:46am | 50Analysts at Jefferies upgrade Hercules Offshore Inc (NASDAQ: HERO) from “hold” to “buy.” The target price for HERO has been raised from $3 to $4.50. HERO shares surged 5.44% to close at $3.49 yesterday. More Analyst Ratings here
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Oil Services Hammered Again (HAL, SLB, RIG, OIH)
Monday, January 10, 2011 - 12:48pm | 139The fallout from a Presidential panel which blamed a number of different oil service companies for the BP oil spill, including Transocean (NYSE: RIG) and Halliburton (NYSE: HAL), in addition to BP (NYSE: BP), is continuing to weigh on the sector. On Monday all of the major oil service names have...
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Oil Service Holders Trust Level To Watch
Monday, January 10, 2011 - 12:07pm | 108The Oil Service Holders Trust(NYSE: OIH) is declining sharply this morning. The OIH is trading lower by $2.70 to $136.55 a share. This comes on a day when many of the leading oil services stocks such as Halliburton Co.(NYSE: HAL), Transocean Ltd.(NYSE: RIG), and Schlumberger Ltd.(NYSE: SLB), are...
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Stock Market News for Jan 10, 2011 - Market News
Monday, January 10, 2011 - 10:31am | 890On Friday, the markets sunk to close in the red as financial stocks plunged following the court's ruling of two foreclosures as invalid. Disappointing jobs growth data also added to the concern of the nervy investors and led the indices down. The Dow Jones Industrial Average lost 0.19% and...
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Stock Market News for Jan 10, 2011 - Market News
Monday, January 10, 2011 - 10:07am | 890On Friday, the markets sunk to close in the red as financial stocks plunged following the court's ruling of two foreclosures as invalid. Disappointing jobs growth data also added to the concern of the nervy investors and led the indices down. The Dow Jones Industrial Average lost 0.19% and...
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U.S. kicks off 2011 with 1,700 Rigs - Analyst Blog
Monday, January 10, 2011 - 9:31am | 891In its weekly release, Houston-based oilfield services company Baker Hughes Inc. (BHI) reported a rise in the U.S. rig count (number of rigs searching for oil and gas in the country), primarily reflecting an increase in the number of land rigs. The Baker Hughes rig count, issued since 1944,...
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U.S. kicks off 2011 with 1,700 Rigs - Analyst Blog
Monday, January 10, 2011 - 9:00am | 891In its weekly release, Houston-based oilfield services company Baker Hughes Inc. (BHI) reported a rise in the U.S. rig count (number of rigs searching for oil and gas in the country), primarily reflecting an increase in the number of land rigs. The Baker Hughes rig count, issued since 1944,...
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Results of Vantage Drillings' Shareholder Meeting
Friday, January 7, 2011 - 5:15pm | 121Vantage Drilling Company (NYSE: VTG) today announced the results of its 2010 Annual Meeting of Shareholders, which was originally scheduled for November 30, 2010 and postponed until January 7, 2011. Based on the voting results from the meeting, shareholders re-elected all incumbent directors and...
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EIA: Natural Gas Reserves Fall - Analyst Blog
Friday, January 7, 2011 - 1:06pm | 811The U.S. Energy Department's weekly inventory release showed a larger-than-expected drop in natural gas supplies, attributable to cold weather conditions across much of the country that pushed up the winter heating demand. The ‘Weekly Natural Gas Storage Report' – as reported by the Energy...
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EIA: Natural Gas Reserves Fall - Analyst Blog
Friday, January 7, 2011 - 12:45pm | 793The U.S. Energy Department's weekly inventory release showed a larger-than-expected drop in natural gas supplies, attributable to cold weather conditions across much of the country that pushed up the winter heating demand. The ‘Weekly Natural Gas Storage Report' – as reported by the Energy...
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Company News for January 07, 2011 - Corporate Summary
Friday, January 7, 2011 - 11:03am | 716• Citigroup (NYSE:C) is reportedly looking for a buyer for its CitiFinancial Unit for as much as $1 billion • Goldman Sachs (NYSE:GS) has added Diamond Offshore (NYSE:DO) to its Conviction Buy List, upgrading the shares from a "selling" rating previously held, with a target price of $85 • Morgan...
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Company News for January 07, 2011 - Corporate Summary
Friday, January 7, 2011 - 10:35am | 716• Citigroup (NYSE:C) is reportedly looking for a buyer for its CitiFinancial Unit for as much as $1 billion • Goldman Sachs (NYSE:GS) has added Diamond Offshore (NYSE:DO) to its Conviction Buy List, upgrading the shares from a "selling" rating previously held, with a target price of $85 • Morgan...
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Energy Taking It On The Chin (XLE, OIH)
Thursday, January 6, 2011 - 1:43pm | 162Energy is significantly underperforming the broader market on Wednesday as a new Presidential panel report spread blame around for the BP oil spill to a number of different companies, including BP (NYSE: BP), Halliburton (NYSE: HAL) and Transocean (NYSE: RIG). Of these three, HAL is being punished...
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Pride Int'l Remains in Neutral Zone - Analyst Blog
Thursday, January 6, 2011 - 12:00pm | 444We remain Neutral on Pride International Inc. (PDE) shares based on our conservative outlook for midwater and deepwater dayrates. Like other deepwater players, Pride International also felt a downward pressure on utilization from newbuild capacity and weakness in the floater market. However, the...