-
Goldman Sachs: Oil Services Face Pressure
Friday, October 22, 2010 - 8:38am | 241Diamond Offshore (NYSE: DO): Goldman remains Sell rated on Diamond (18% downside), given its high leverage to the midwater market, which it expects to remain under pressure through at least mid-2011 as newbuild deepwater rigs enter the market. It also sees the potential for Diamond to acquire or...
-
Diamond Offshore Surveying 8 Rigs In 2011
Friday, October 22, 2010 - 8:33am | 121Sterne Agee has published a research report on Diamond Offshore Drilling (NYSE: DO) as it crafts its weigh-in on 2012 EPS and adjusts estimates. In the report, Sterne Agee writes "4Q10 costs guidance of $380 – $390 million, largely due to deferred costs from 3Q10 guidance. Drilling costs came in at...
-
Dahlman Rose Raises Price Target on Ensco International (ESV)
Thursday, October 21, 2010 - 3:24pm | 176Dahlman Rose is out with a research report this afternoon, where it raises its price target on Ensco International (NYSE: ESV) to $56.00, from $52.00. It also reiterated its Buy rating on the stock. The DR analysts cited the company's recently announced Q3 earnings report, which beat estimates due...
-
Diamond Offshore Outperforms - Analyst Blog
Thursday, October 21, 2010 - 2:03pm | 442Diamond Offshore Drilling Inc. (DO) reported better-than-expected third quarter 2010 earnings of $1.43 per share, compared with the Zacks Consensus Estimate of $1.36. However, earnings were much below than the year-ago profit of $2.62. Total revenue was $799.7 million, compared with the Zacks...
-
Xerox Profit More than Doubles - Analyst Blog
Thursday, October 21, 2010 - 1:00pm | 521Xerox Corporation (XRX) reported a profit that more than doubled to $314 million in the third quarter of the year from $150 million in the same quarter a year ago. On earnings per share basis, the company has beaten the Zacks Consensus Estimate by a penny with a profit of 22 cents compared with...
-
Ensco Tops Zacks Estimate - Analyst Blog
Thursday, October 21, 2010 - 10:33am | 618Ensco plc (ESV) reported third quarter earnings from continuing operations of 92 cents per share, comfortably beating the Zacks Consensus Estimate of 89 cents. However, results were well below the year-ago quarter earnings of $1.01 per share. Results were better than expected although the...
-
Dahlman Rose & Co. Comments On Noble Corporation's Difficult Quarter
Thursday, October 21, 2010 - 10:03am | 132Noble Corporation (NYSE: NE) reported 3Q10 EPS of $0.34, in line with Dahlman Rose & Co.'s forecast and slightly below the consensus $0.35 estimate. As expected, based on its recent fleet status report, Noble was met with several challenges during the quarter. “Noble was forced to transfer the...
-
Noble Misses Amid GoM Disruption - Analyst Blog
Thursday, October 21, 2010 - 9:33am | 636Noble Corporation's (NE) third quarter 2010 earnings of 39 cents per share missed the Zacks Consensus Estimate of 42 cents and the year-earlier quarter's profit of $1.58 per share. Lower-than-expected results were mainly due to the impact of the Gulf of Mexico (GoM) drilling moratorium. We have...
-
Patterson-UTI Upped to Outperform - Analyst Blog
Wednesday, October 20, 2010 - 6:54pm | 307We have upgraded onshore contract driller Patterson-UTI Energy Inc. (PTEN) shares to Outperform from Neutral, reflecting its promising future prospects. The company, which had a heavy spot market exposure, was hit badly by the financial crisis with operators tending to release land rigs to...
-
Afternoon Market Update (MS, APC, ESV, WMB)
Wednesday, October 20, 2010 - 11:42am | 184The US dollar moved down as US stocks increased their gains today. Analysts at Action Economics said, "The firmer Wall Street open has weighed on the greenback, while talk of more 'open-ended' QE2 has perhaps weighed." The dollar index declined 1.34% to 77.13, down from 78.041 late Tuesday. Shares...
-
Noble Upped to Neutral - Analyst Blog
Monday, October 18, 2010 - 8:51am | 378We have recently upgraded our recommendation for Noble Corporation (NE) to Neutral from Underperform due to the impressive accretion from the Frontier acquisition and a strong cash value embedded in the backlog. On July 28, 2010, Noble closed the acquisition of its closely held rival, FDR...
-
Benzinga's Top Pre-Market NASDAQ Losers (PETS, CASH, HERO, LULU)
Monday, October 18, 2010 - 8:45am | 135PetMed Express Inc (NASDAQ: PETS) dipped 12.72% to $13.93 in the pre-market session. PETS has reported 20% y/y decline in its Q2 earnings. Meta Financial Group Inc (NASDAQ: CASH) lost 6.33% to $17.75 in the pre-market session. CASH's unit MetaBank has been temporarily restricted by the Office of...
-
Oppenheimer Lowers Transocean EPS Following Fleet Status Update
Friday, October 15, 2010 - 9:46am | 89Oppenheimer reports that it has lowered its EPS estimates for Transocean Ltd. (NYSE: RIG), specifically for 2010 (from $6.44 to $6.10) and for 2011 (from $7.46 to $7.18). “The idled rigs imply continued low utilization for low-end jackups and mid-water rigs,” Oppenheimer writes. “Another rig has...
-
Benzinga's Top Upgrades (PTEN, ESV, NVTL, GTE)
Friday, October 15, 2010 - 7:05am | 147Patterson-UTI Energy Inc (NASDAQ: PTEN) was upgraded by Weeden from “hold” to "buy." PTEN's shares closed at $18.50 yesterday. PTEN's quarterly earnings advanced 273.98% y/y. Wells Fargo Securities upgraded Ensco Plc (NYSE: ESV) from "market perform" to "outperform." ESV's shares closed at $47.50...
-
Wells Fargo Downs PDE To Market Perform
Friday, October 15, 2010 - 6:39am | 42Analysts at Wells Fargo Securities downgrade Pride International (NYSE: PDE) from "outperform" to "market perform." PDE's shares fell 0.06% to close at $31.80 yesterday. More Analyst Ratings here