LONDON, June 9- Nothing about the narrow cream-coloured lobby at 160 Aldersgate Street in the City of London financial district gives a hint of its role at the centre of the offshore oil industry. In 2012, Rowan, which has a market value of $4 billion, shifted its legal and tax base from the United States to Britain.
*EU puts pressure on Switzerland to change rules. Inc is shifting its main European tax base to Ireland from Switzerland, a Reuters examination of company statements and accounts shows, as pressure mounts on the Alpine nation to abolish some corporate tax incentives.
OSLO, Feb 6- Drillers face a year of pain as they take delivery of a slew of new vessels ordered during boom times just as oil companies ruthlessly tighten spending on offshore exploration. Drilling stocks are already down by 20 percent since late last year but analysts at Barclays estimate that there is another 35 percent downside, even under a base case.
An important catalyst is unfolding in the energy trade right now. What must you know?
With a deadline hanging over Congress, stocks could be whipped by headlines from Washington but should ultimately be able to limp through the drama.
Some of the names on the move ahead of the open.
CNBC’s Analytics team looked at the stocks that have average consensus estimates farthest above their current stock prices. Here's what they found.
In a note to clients, Goldman Sachs strategist David J. Kostin on Wednesday identified what he thinks are the top 40 most undervalued stocks.
Check out which companies are making headlines after the bell Tuesday:
Check out which companies are making headlines after the bell Wednesday:
Earnings season kicks into high gear in the week ahead. Plus, at least 10 Fed speeches. How risk-averse are investors? Oh, this is going to put them to the test. Rest up.
First, a soft ISM, now a soft ADP and soft ISM Services. Weaker economic data and global growth fears weigh on markets.
A flood of earnings reports, including major technology and industrial companies, could make or break the stock market’s surprise January rally in the week ahead.
Noble has performed well, and yesterday option traders were targeting the offshore-drilling contractor.
Shell may have moved an oil rig that ran aground off Alaska last week partly to avoid millions of dollars in taxes, U.S. Rep. Ed Markey said, raising even more questions about the oil company's decision on the timing of the move.
An oil drilling rig owned by Royal Dutch Shell ran aground in Alaska after drifting in stormy weather, highlighting the serious risks of working in an offshore region where some in the industry see huge potential.
Third-quarter net income for the offshore drilling contractor fell to $114.8 million, or 45 cents per share, from $135.3 million, or 53 cents per share, in the year-ago quarter. Jud Bailey, an analyst with International Strategy and Investment Group LLC, said operating costs of $449 million were above his estimates.
Offshore drilling contractor Noble Corp. said Wednesday that its third-quarter net income fell 15 percent because of delays for ships and rigs in the Gulf of Mexico and offshore Brazil. The Zug, Switzerland, company's net income totaled $114.8 million, or 45 cents per share, in the three-month period that ended Sept. 30.
*FBR cuts Noble Corp price target to $48 from $55. Reuters Station users, click. 1568. Reuters Station users, click. 4899.
*FBR cuts Diamond Offshore Drilling Inc to market perform from. *FBR cuts Rowan Companies PLC to market perform from outperform; price. *FBR raises Hercules Offshore Inc price target to $5.25 from $4.40;.