Some of Wednesday's midday movers:» Read More
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.
WASHINGTON, August 18- Establishing a tax domicile abroad to avoid U.S. taxes is a hot strategy in corporate America, but many companies that have done such "inversion" deals have failed to produce above-average returns for investors, a Reuters analysis has found.
*Berkshire Hathaway shares up after results. NEW YORK, Aug 4- U.S. stocks were little changed in volatile trading Monday as earnings, including those of Warren Buffett's Berkshire Hathaway, were partly offset by drops in high-yielding dividend stocks in the utilities sector.
*Berkshire Hathaway shares up after results. *Michael Kors shares reverse premarket move, fall 5.5 pct. NEW YORK, Aug 4- U.S. stocks rose in morning trading on Monday, lifted by earnings including those of Warren Buffett's Berkshire Hathaway, with gains partly offset by drops in high-yielding dividend stocks in the utilities sector.
*Berkshire Hathaway shares up after results. *Diamond Offshore weighs on Loews earnings. *Portugal will spend 4.9 billion euros to rescue Banco Espirito Santo, its largest listed lender, testing the euro zone's resilience to another banking crisis just months after Lisbon exited an international bailout.
*Michael Kors shares rise as revenue soars. *Diamond Offshore weighs on Loews earnings. *Portugal will spend 4.9 billion euros to rescue Banco Espirito Santo, its largest listed lender, testing the euro zone's resilience to another banking crisis just months after Lisbon exited an international bailout.
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.
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.