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The 5 Dumbest Things on Wall Street: Sept. 24
Friday, September 24, 2010 - 8:38am | 2005. BP Oil Spill? Hey, No Big Deal. It's All Cool. Here's a pop quiz for you: Do you remember, a few months ago, when a little company called BP (NYSE: BP) spilled some oil in the Gulf of Mexico? Not too much. Only about 205 million gallons. Made the news for a few months. You might have heard of...
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Trader's Market 09-23-2010
Thursday, September 23, 2010 - 7:58pm | 881Cusick's Corner This was an ideal day for traders -- break on the open, push to the upside (a little choppy, keeping everyone nervous) and then a decent pullback towards the lows. (The S&P Dec E-minis had a range of 1117.25-1134.50.) While volatility continues to creep into the market, VIX +6.8...
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FMC Technologies Inc. Chairman Sells 30,000 Shares of FTI
Thursday, September 23, 2010 - 3:47pm | 57In a Form 4 filed earlier today, FMC Technologies Inc. (NYSE: FTI) Chairman of the Board, Peter Kinnear, reported that he sold 30,000 shares of FTI on September 21st for an average price of $66.16. The transaction totaled $1,984,848. Mr. Kinnear owns 489,536 direct shares and 5,229 indirect shares...
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Halliburton Acquires Permedia Research Group (HAL)
Thursday, September 23, 2010 - 3:18pm | 71Halliburton (NYSE: HAL) announced today that it has acquired The Permedia Research Group: industry leading suppliers of petroleum systems modeling software and services. Permedia's tools and expertise enable oil and gas companies to better assess exploration risk and manage the cost of developing...
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PHI Completes Offering of $300 Million 8.625% Senior Notes
Thursday, September 23, 2010 - 12:23pm | 167PHI, Inc. (NASDAQ: PHII) announced today that it had completed its previously announced private offering of $300 million 8.625% Senior Notes due 2018. PHI also announced that it had accepted for purchase and payment all of the approximately $189.5 million of its $200.0 million outstanding aggregate...
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Weatherford Announces Results to Date of Cash Tender Offers
Thursday, September 23, 2010 - 9:32am | 245Weatherford International Ltd., a Swiss joint-stock corporation (NYSE: WFT), announced today that approximately $167,066,000 in aggregate principal amount of notes were tendered prior to 11:59 p.m., New York City time, on September 22, 2010 pursuant to the previously announced cash tender offer by...
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Benzinga's Top Downgrades (TIF, CGV, FRX, MERC)
Thursday, September 23, 2010 - 8:10am | 150Tiffany & Co (NYSE: TIF) was downgraded by Goldman from “neutral” to "sell." TIF's shares closed at $45.56 yesterday. Tiffany's 52-week trading range is $34.95-$51.60. JP Morgan downgraded CGG Veritas (NYSE: CGV) from "overweight" to "neutral." CGV's shares closed at $22.19 yesterday. CGV's...
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3Q Revenues In-Line For IHS
Thursday, September 23, 2010 - 7:53am | 134JP Morgan writes "[We're] maintaining our Neutral rating on IHS, Inc. (NYSE: IHS) shares. In FQ310 (ended August), revenues rose 14%, “adjusted” EBITDA grew 16%, and EPS of $0.76 exceeded our $0.74 estimate. Organic growth was 10% (~7% ex 300bp benefit from the tri-annual Boiler Plate Vessel Code...
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Piper Jaffray Raises Price Target On IHS Inc. (IHS)
Thursday, September 23, 2010 - 7:35am | 129Piper Jaffray raised its price target on IHS Inc. (NYSE: IHS) to $71 from $68, after the company reported strong quarterly earnings. It still rates shares at Overweight. In the research note, Piper Jaffray writes, "As in prior quarters, IHS delivered impressive results across the board, with...
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Statoil Awards $75 Million Katla Project to FMC Technologies (FTI, STO)
Wednesday, September 22, 2010 - 4:34pm | 60FMC Technologies, Inc. (NYSE: FTI) announced today that it has signed an agreement with Statoil (NYSE: STO) for the manufacture and supply of subsea production equipment to support the Katla development. The award has a value of approximately $75 million in revenue to FMC Technologies.
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IHS Inc. Beats on Top and Bottom Lines (IHS)
Wednesday, September 22, 2010 - 4:21pm | 175IHS Inc. (NYSE: IHS) reports Q3 earnings of $0.76 versus consensus of $0.73. IHS Inc. reports revenues of $272 million versus consensus of $265.52 million. Revenues increased 14% year over year. "We were very pleased to see the results of our efforts translate into improving organic revenue...
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IHS Inc. Reports Third Quarter 2010 Results; Adjusted EPS $.76
Wednesday, September 22, 2010 - 4:17pm | 46IHS Inc. (NYSE: IHS) today reported results for the third quarter ended August 31, 2010. --Record quarterly revenue of $272 million, up 14% --Higher rate of organic revenue growth --Adjusted EBITDA of $82.2 million, or 30.2% of revenue --EPS of $0.53 and adjusted EPS of $0.76
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IHS Acquires Two Environmental Health and Safety Information Companies for $80M
Wednesday, September 22, 2010 - 4:08pm | 40IHS Inc. (NYSE: IHS) today announced the acquisition of two environmental health and safety information companies, Atrion International Inc., and Syntex Management Systems Inc., for a combined purchase price of approximately $80 million.
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Weatherford Announces the Total Consideration for Tender Offer
Wednesday, September 22, 2010 - 2:57pm | 115Weatherford International Ltd. (NYSE: WFT) announced today the reference yield and the total consideration for its previously announced Any and All Offer, whereby Weatherford International, Inc. is offering, under certain conditions, to purchase any and all of its outstanding 6 5/8% Senior Notes...
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Bulls Return to Baker Hughes (BHI)
Wednesday, September 22, 2010 - 11:53am | 201Shares of Baker Hughes Incorporated (NYSE: BHI) are lower on the session by 0.42%, currently trading art $40.09. The stock has been moving largely lower over the past six moths, albeit in a volatile fashion, but appears to have found a firm bottom around $37.50. One options trader is making a large...