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Dahlman Rose Out With An Update On Offshore Drilling (ATW, RIG, DO, ESV, NE, PDC, RIG, SDRL)
Monday, August 9, 2010 - 10:15am | 216Dahlman Rose & Co. is out with its weekly industry report this morning on the Offshore Drilling sector and has some positive things to say. In the report, Dahlman Rose states, "Transocean's earnings update was a mixed bag of good news and bad news. Management disclosed Swiss authorities are...
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Benzinga’s Top Pre-Market NASDAQ Gainers (SWSI, ATEC, CAGC, JASO)
Monday, August 9, 2010 - 8:39am | 154Superior Well Services Inc (NASDAQ: SWSI) rose 20.95% to $22.05 in the pre-market session. Nabors Industries (NYSE: NBR) has agreed to purchase SWSI for $22.12 per share in cash. Alphatec Holdings Inc (NASDAQ: ATEC) added 3.35% to $2.47 in pre-market trading. ATEC had narrowed its loss on year-over...
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Patterson-UTI Rig Count Up by 9 - Analyst Blog
Friday, August 6, 2010 - 3:35pm | 504Patterson-UTI Energy Inc. (PTEN), one of the largest onshore contract drillers in the U.S. , has declared its July 2010 drill rig count to average at 172, up from 163 in the previous month. The company operated 165 rigs in the U.S. and 7 in Canada in July, compared with 160 rigs in the U.S. and 3...
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Transocean Cut To Underweight At J.P. Morgan (RIG)
Friday, August 6, 2010 - 8:29am | 108J.P.Morgan Chase & Co is cutting its rating on shares of Transocean (NYSE: RIG) to Underweight from Neutral, after the rig operator's stock rallied sharply on the release of its contract with BP (NYSE: BP). J.P. Morgan has a price target of $55 on Transocean. In the report J.P. Morgan said, "...
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Market Technically Signaled a Potential Turn 08-05-2010
Thursday, August 5, 2010 - 2:58pm | 904Cusick’s Corner The market, while down, has still been able to hold its ground into the Midday. We continue to see minor new highs intra-day, only to have the market grind back to basically breakeven. While the trend to the upside is still intact, there needs to be some tighter risk management to...
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Anadarko And Transocean Still Look Undervalued (APC, RIG)
Thursday, August 5, 2010 - 1:52pm | 161Shares of Anadarko Petroleum (NYSE: APC) and Transocean (NYSE: RIG) have been surging over the last month as the BP oil spill appears close to a resolution. Anadarko (APC) owns a 25% non-operating stake in the Macondo well and Transocean (RIG) leased the Deepwater Horizon drilling rig to BP (NYSE:...
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Transocean Disappoints on GoM Spill - Analyst Blog
Thursday, August 5, 2010 - 1:26pm | 729Transocean Inc. (RIG) – the world’s largest offshore driller – reported weak second quarter 2010 results, primarily under the influence of increased expenses associated with the Gulf of Mexico accident. Earnings per share, excluding certain charges, came in at $1.66, failing to meet the Zacks...
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News Summary (RIG, BP, NWS, RIMM, AAPL)
Thursday, August 5, 2010 - 11:56am | 216Transocean (NYSE: RIG) said that it is protected against fines and lawsuits related to the Deepwater Horizon incident due to its contract with BP (NYSE: BP). Under the contract signed by both companies for the use of the Deepwater Horizon drilling rig, BP had agreed to bear most of the legal burden...
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Thursday’s Mid-day Options Volume Leaders (C, RIG, SD, BP, POT, SPY)
Thursday, August 5, 2010 - 11:26am | 132The overall market is taking a breather this morning; currently the S&P 500 (NYSE: SPY) is off by 5 points, currently trading at 1,122. Retailers are posting relatively strong gains (+0.2%) considering the market is lower on the session and the mediocre same-store-sales released this morning....
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Dahlman Rose Reiterates Buy Rating on Atwood Oceanics (ATW)
Thursday, August 5, 2010 - 11:09am | 148Dahlman Rose is out with a research report this morning, where it reiterates its Buy rating on Atwood Oceanics (NYSE: ATW); it has a $40.00 price target on the stock. The Dahlman analysts cited the company’s recent earnings report, which was below estimates. The company generated $85.3 million of...
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Transocean (RIG) Beats Earnings For Quarter
Wednesday, August 4, 2010 - 11:42pm | 374Transocean (RIG) Beats Earnings For Quarter Transocean (RIG) announced their earnings for the quarter ending in June after-hours tonight and beat analyst estimates depending on considerations. The consensus estimate was $1.68 per share while the company actually earned $2.22 a share. Revenue was...
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Cameron Tops, Overcomes GoM Crisis - Analyst Blog
Wednesday, August 4, 2010 - 5:28pm | 739Oil drilling equipment maker Cameron International Corp. (CAM) reported second quarter earnings per share (excluding special items) of 58 cents, surpassing the Zacks Consensus Estimate of 55 cents. The better-than-expected results were mainly driven by solid performance in the execution of project-...
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Transocean Shares Surging Ahead Of Earnings Report (RIG)
Wednesday, August 4, 2010 - 11:32am | 101Shares of Transocean Ltd. (NYSE: RIG) have gained 7.26% to $54.04 on Wednesday as the oil-services company prepares to report its quarterly earnings after the bell. Consensus expectations call for EPS of $1.71 versus the $2.79 the company reported in the year-ago quarter. Transocean (RIG) shares...
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Jefferies Neutral On Hercules OffShore (HERO)
Wednesday, August 4, 2010 - 10:19am | 139Jefferies & Co. is remaining Neutral on shares of Hercules Offshore (NASDAQ: HERO) after the rig operator reported quarterly earnings. It has a $3 price target on shares. In the report Jefferies & Co. writes, "Given the lack of visibility in the GOM due to permitting delays and weak...
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Pritchard Equity Has $31 Target, Buy Rating On Rowan (RDC)
Tuesday, August 3, 2010 - 3:41pm | 122Pritchard Equity Research is raising its price target on shares of Rowan Companies (NYSE: RDC) to $31 from $27 after the driller reported better than expected earnings yesterday. Pritchard rates shares as a Buy. In the report Pritchard Equity notes, "RDC reported $0.79 vs. our $0.66 and consensus...