Falling oil stocks and distressed oil company bonds point to the sector's struggles continuing, a credit analyst said.» Read More
*Takes asset impairment charge of $438.4 mln. Feb 27- Rowan Cos Plc said state-owned oil company Saudi Aramco was likely to continue employing about a third of the company's 28 contracted rigs, sending the offshore driller's shares up as much as 5.5 percent on Friday. Rival Hercules Offshore Inc said on Thursday that Saudi Aramco had terminated a drilling...
WASHINGTON- U.S. economic growth brakes more sharply than initially thought in the fourth quarter as businesses slow their pace of stock accumulation and the trade deficit widens, but the underlying fundamentals remain solid. CHICAGO- Moody's Investors Service cuts Chicago's already-weak credit rating one notch to Baa2, citing the city's growing costs...
Feb 27- Contract driller Rowan Cos Plc wrote down the value of 12 of its oldest jack-up rigs by $438.4 million, joining rivals such as Transocean Ltd in recording big asset impairment charges. Rowan swung to a quarterly loss on the impairment charge, although the company's revenue rose 41 percent to $556.2 million due to two ultra-deepwater rigs coming into...
Feb 27- Contract driller Rowan Cos Plc reported a quarterly loss compared with a profit a year earlier, as it wrote down the value of 12 of its oldest jack-up rigs by $438.4 million. The company reported a net loss from continuing operations of $326.9 million, or $2.63 per share, for the quarter ended Dec. 31, compared with a profit of $49.7 million, or 40 cents per share, a...
Nov 5- Contract driller Rowan Cos Plc reported better-than-expected quarterly revenue and profit, helped by higher rates for its jackup rigs. The average daily rate for Rowan's jackup rigs rose to $174,300 in the third quarter from $169,200, a year earlier, while the rate for its drillship rose to $660,200 from $605,000. Rowan's net income rose to $119.6 million,...
Nov 5- Contract driller Rowan Companies Plc's third-quarter profit more than doubled, helped by higher rates for its rigs and an income tax benefit. The company's net income rose to $119.6 million, or 96 cents per share, in the quarter ended Sept. 30, from $51.9 million, or 42 cents per share, a year earlier. Revenue rose about 22 percent to $467.7 million.
Establishing a tax domicile abroad to avoid taxes is popular, but many US companies have failed to produce strong returns for investors.
Some of the names on the move ahead of the open.
The bond market is giving the stock market angst.
Talking Squawk, the official "Squawk Box" blog, provides tidbits, insights, and some sarcastic reflections on the WEEK THAT WAS and the WEEK TO COME.
The "Fast Money" traders share their final trades of the day.
Investors looking to catch a ride with companies that have high-flying earnings projections should be wary before hopping aboard.
Yellen testifies before the Senate Banking Committee Thursday and if she decides to stop using the weather as an excuse for a down economy, watch out.
These five stocks trade below tangible book value. TheStreet.com reports.
*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;.
*Global hunter raises Baker Hughes Inc price target to $49 from $42. *Global hunter raises Ensco PLC price target to $69 from $67. *Global hunter cuts Flotek Industries Inc price target to $16 from $18.
At least 20 multinationals are drawing up plans to move their regional or global headquarters to Britain over the next year after government efforts to increase the competitiveness of the UK’s business tax regime.
Oct 5- Rowan Companies PLC:. *Raymond James cuts Rowan Companies to market perform from outperform. Reuters Station users, click. 1568.
*JP Morgan cuts Rowan Companies PLC to underweight from neutral. *JP Morgan raises Rowan Companies PLC price target to $39 from $38. *JP Morgan cuts Schlumberger price target to $83 from $84; rating overweight.
Money managers say take tax losses in cyclical sectors that suffer the most in a bear market and invest the proceeds in more defensive sectors, such as health care and consumer staples.