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Do Oil Price Spikes Cause Recessions?
Wednesday, December 22, 2010 - 11:25am | 696Okay, I have to admit, I didn't come up with the theory that major recessions are, in part, caused by spikes in the price of oil. The idea as I originally heard it comes from Jeff Rubin, an energy analyst and former Canadian investment banker. I...
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JP Morgan On Offshore Drillers
Wednesday, December 22, 2010 - 9:53am | 208JP Morgan has published a research report on Offshore Drillers in the Oil Services & Equipment sector. In the report, JP Morgan writes "We believe this group will continue to underperform. After assessing the most current data on newbuilds, fixtures, the Gulf of Mexico, and dayrates, not a...
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Top 4 NASDAQ Stocks In The Oil & Gas Drilling & Exploration Industry With The Highest Cash (HERO, ATLS, PTEN, CTE)
Wednesday, December 22, 2010 - 4:38am | 136Below are the top oil & gas drilling & exploration stocks on the NASDAQ in terms of cash. Hercules Offshore Inc (NASDAQ: HERO) had $134.64 million in total cash and $879.32 million in total debt for the latest quarter. Atlas Energy Inc (NASDAQ: ATLS) had $79.94 million in total cash and $1....
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Transocean Vessel Starts Work - Analyst Blog
Tuesday, December 21, 2010 - 10:36am | 483World's largest offshore driller Transocean Inc. (RIG) notified that its newbuild ultra-deepwater drillship Discoverer India has started operations under a minimum five-year drilling contract with Reliance Industries. Reliance has the option – to be exercised by calendar year-end 2010 – to extend...
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RPM Business Acquires Pipeline & Drainage Systems Ltd.
Tuesday, December 21, 2010 - 10:30am | 64RPM International Inc. (NYSE: RPM) today announced that its RPM Performance Coatings Group has acquired Pipeline & Drainage Systems Ltd. (PDS). Based in Wakefield, England, PDS has annual sales of approximately $8 million. Terms of the transaction, which is expected to be accretive to...
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Transocean Vessel Starts Work - Analyst Blog
Tuesday, December 21, 2010 - 10:00am | 483World's largest offshore driller Transocean Inc. (RIG) notified that its newbuild ultra-deepwater drillship Discoverer India has started operations under a minimum five-year drilling contract with Reliance Industries. Reliance has the option – to be exercised by calendar year-end 2010 – to extend...
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Vantage Drilling Co. Director Buys 298,000 Shares of VTG
Monday, December 20, 2010 - 5:30pm | 51In a Form 4 filed earlier today, Vantage Drilling Co. (NYSE: VTG) Director, Hsin-Chi Su, reported that he bought 298,000 shares of VTG on December 7th for an average price of $1.71. The transaction totaled $510,951. Mr. Su owns 94,087,794 indirect shares of VTG. Source: The Washington Service
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Pride International (PDE) Traders Rolling a Risk Reversal
Monday, December 20, 2010 - 10:27am | 1761Offshore drilling contractor Pride International, Inc. (NYSE:PDE) has been consolidating north of the 30 level for the past six weeks or so, following a sharp uptrend in September and October. Based on some unusual options activity we saw Thursday midday, it looks as though a large-scale investor...
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U.S. Rig Count Slips - Analyst Blog
Monday, December 20, 2010 - 10:03am | 897In its weekly release, Houston-based oilfield services company Baker Hughes Inc. (BHI) reported a fall in the U.S. rig count (number of rigs searching for oil and gas in the country), primarily reflecting a decrease in the land rig count. The Baker Hughes rig count, issued since 1944, acts as...
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U.S. Rig Count Slips - Analyst Blog
Monday, December 20, 2010 - 9:30am | 897In its weekly release, Houston-based oilfield services company Baker Hughes Inc. (BHI) reported a fall in the U.S. rig count (number of rigs searching for oil and gas in the country), primarily reflecting a decrease in the land rig count. The Baker Hughes rig count, issued since 1944, acts as...
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Vantage Drilling Co. Director Buys 203,706 Shares of VTG
Friday, December 17, 2010 - 5:15pm | 51In a Form 4 filed earlier today, Vantage Drilling Co. (NYSE: VTG) Director, Hsin-Chi Su, reported that he bought 203,706 shares of VTG on December 15th for an average price of $2.20. The transaction totaled $448,153. Mr. Su owns 99,000,000 indirect shares of VTG. Source: The Washington Service
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Watching the Strength of this Uptrend 12-16-2010
Thursday, December 16, 2010 - 4:11pm | 904Cusick's Corner The market continues to rise in the face of the Dollar, DXH11, over .80 the Euro, FXE, hovering at 132 and the Volatility Index VIX is at 17.43, a level that we have not seen since April. I am watching the strength of this uptrend into the After Hours -- I want to see the market...
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Eleven For '11: Sector ETFs To Watch In The New Year
Thursday, December 16, 2010 - 3:47pm | 596Continuing with the theme of ETFs to watch in 2011, today the Professor is focussing on 11 non-leveraged sector ETFs that very well could be on the minds of traders in the new year. Some are dividend plays, others are plays on rising commodities prices, but each has a different reason for...
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Global Hunter Securities Downgrades DO To Accumulate
Thursday, December 16, 2010 - 9:27am | 53Analysts at Global Hunter Securities downgrade Diamond Offshore Drilling Inc (NYSE: DO) from "buy" to "accumulate." The target price for DO has been reduced from $74 to $69. DO's shares lost 2.24% to close at $63.39 yesterday. More Analyst Ratings here
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Transocean Falling In Pre-Market (RIG)
Thursday, December 16, 2010 - 9:10am | 114Transocean LTD (NYSE: RIG) is down sharply in pre-market trading, down more than 3% after the oil driller continues to see fall out from the BP (NYSE: BP) oil spill in the Gulf of Mexico. Yesterday, the U.S. government sued BP for the spill, and Transocean is seeing some blow-back from the lawsuit...