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Company News for November 18, 2010 - Corporate Summary
Thursday, November 18, 2010 - 5:08am | 527• GM (NYSE: GM) priced its IPO at the upper end of its range at $33 per share, and expanded the number of shares being offered to 478 million • Sears Holdings (NASDAQ: SHLD) reported a wider third quarter loss than expected at $1.98 versus the expected $1.07, on revenues of $9.68 billion, off...
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Morgan Stanley Moves Patterson-UTI To Underweight
Wednesday, November 17, 2010 - 12:44pm | 106Morgan Stanley is moving Patterson-UTI Energy, Inc. (NASDAQ: PTEN) to Underweight, saying that it estimates PTEN has significant downside if the domestic natural gas rig count were to roll over, given the company's high exposure to the spot market. “On the flip side, we believe PTEN has limited...
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Transocean to Pay $195M for New Rig - Analyst Blog
Wednesday, November 17, 2010 - 12:33pm | 507World's largest offshore driller Transocean Inc. (RIG) has agreed to buy a shallow water jackup rig being built by Singaporean outfit Sembcorp Marine's subsidiary, PPL Shipyard for $195 million. The high-specification jackup, which is scheduled for delivery in the fourth quarter of 2011, will be...
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Options Brief: Patterson-UTI Energy (PTEN)
Wednesday, November 17, 2010 - 11:58am | 93Shares of Patterson-UTI Energy (NASDAQ: PTEN) are lower on the session by 1.50%, trading at $19.75. Overall call volume is now running at 2.21x the daily average, with 3% of all calls traded being purchases on the offer. 1,124 contracts have traded on the session so far. Patterson-UTI Energy, Inc...
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Benzinga's Top Downgrades (PTEN, DKS, AMD, TSL)
Wednesday, November 17, 2010 - 9:17am | 150Patterson-UTI Energy Inc (NASDAQ: PTEN) was downgraded by Morgan Stanley from "equal weight" to "underweight." PTEN's shares closed at $20.05 yesterday. Patterson-UTI Energy's 52-week trading range is $11.77-$21.10. Dick's Sporting Goods Inc (NYSE: DKS) was downgraded by Needham & Co from "buy...
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Morgan Stanley Downgrades PTEN To Underweight
Wednesday, November 17, 2010 - 8:13am | 50Analysts at Morgan Stanley downgrade Patterson-UTI Energy Inc (NASDAQ: PTEN) from "equal weight" to "underweight." The target price for PTEN is set to $24. PTEN's shares lost 1.57% to close at $20.05 yesterday. More Analyst Ratings here
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Transocean to Pay $195M for New Rig - Analyst Blog
Wednesday, November 17, 2010 - 7:11am | 507World's largest offshore driller Transocean Inc. (RIG) has agreed to buy a shallow water jackup rig being built by Singaporean outfit Sembcorp Marine's subsidiary, PPL Shipyard for $195 million. The high-specification jackup, which is scheduled for delivery in the fourth quarter of 2011, will be...
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Estimates Raised for Noble Corporation and Global Geophysical Services
Tuesday, November 16, 2010 - 9:46am | 142Credit Suisse has released its Global Oil Daily this morning and has raised estimates on Noble Corp. (NYSE: NE) and Global Geophysical Services (NYSE: GGS). Credit Suisse raised EPS estimates for NE in 2011 and 2012 to $3.80/$4.40 from $3.70/$4.32. NE's price target has also been raised to $43 from...
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Carl Icahn Ups Stake In Lions Gate, Hain Celestial (LGF, HAIN, WEN, YHOO)
Monday, November 15, 2010 - 6:09pm | 139According to Carl Ichan's latest 13-F, the investing titan has dumped positions in Yahoo (NASDAQ: YHOO), Blockbuster (which has gone bankrupt) and Wendy's Arby's Group (NYSE: WEN). He also sold Ensco PLC (NYSE: ESV). Icahn reported a 9.6 million share position in Dynegy (NYSE: DYN), and a 2.5...
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Carl Icahn Ups Stake In Lions Gate, Hain Celestial (LGF, HAIN, WEN, YHOO)
Monday, November 15, 2010 - 6:08pm | 139According to Carl Ichan's latest 13-F, the investing titan has dumped positions in Yahoo (NASDAQ: YHOO), Blockbuster (which has gone bankrupt) and Wendy's Arby's Group (NYSE: WEN). He also sold Ensco PLC (NYSE: ESV). Icahn reported a 9.6 million share position in Dynegy (NYSE: DYN), and a 2.5...
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Oil Prices to Dip on Dollar's Rally
Monday, November 15, 2010 - 2:31pm | 1070Europe is broke So the dollar is rallying And some commodities are going on sale Ireland is broke and the long-term yields on the country's bonds are skyrocketing. I'm sure Portugal and Spain aren't far...
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Oppenheimer Reduces Ensco 2011 Estimates; Raises PT To $57
Monday, November 15, 2010 - 11:48am | 113Following a fleet status update by Ensco (NYSE: ESV), Oppenheimer is reducing its 2011 estimates on heightened concern that the ENSCO 8503 UDW new build (10,000' semi) may see delays in the start of its contract. “Additional shipyard days for high-spec jackups relative to our model also weigh on...
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Pride International Calls Active on M&A Speculation (PDE)
Friday, November 12, 2010 - 4:35pm | 85Offshore drilling service company Pride International (NYSE: PDE) saw its shares spike sharply this afternoon as takeover speculation resurfaced. Pride International shares traded as low as 31.63 before huge volume came in sending the price to 33.60 in minutes. Pride has already traded 3mil shares...
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A grip on the market: Stockopedia speaks to Graham Stevens of Plexus Holdings
Friday, November 12, 2010 - 6:14am | 3180When Plexus Hldgs (LON:POS) floated on AIM five years ago it set out to introduce new thinking on the safety and reliability of the designs used in making wellheads for the oil and gas industry through the deployment of its proprietary POS-GRIP ® friction grip method of engineering. Since then,...
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Don't Buy BP Plc (NYSE: BP)
Thursday, November 11, 2010 - 4:58pm | 1010Don't buy any blue chip oil company… A stock that rises with oil prices When to buy In the heat of the Deepwater-Horizon Gulf oil spill, I urged you to buy shares of BP Plc (NYSE: BP). On May 3, I wrote...