UBS Raises Price Target on Halliburton (HAL) to $50 Following 1Q Earnings

U.S. energy CEOs ready for new drilling as oil prices plot upward path

May 4, 2016 1:55 AM EDT

By Ernest Scheyder

HOUSTON (Reuters) - After cutting spending and staff levels to the bone, U.S. oil executives say they are getting ready for new drilling projects as a 50 percent increase in crude prices since February leads them to believe the worst of the downturn may be over.

Any price rise above $50 per barrel could fuel a resurgence in the U.S. shale industry, which saw drilling and fracking of new wells put on hold over the past year as oil prices plumbed near $25 per barrel.

But prices have steadily risen to around $44 per barrel,... More

M&A slowdown clouds Wall Street view on stocks

May 3, 2016 4:20 PM EDT

By Rodrigo Campos

NEW YORK (Reuters) - Worldwide merger deals have declined sharply from the frenetic pace that pushed them to record levels in 2015, a sign that could reflect broader weakness in the U.S. economy and vulnerability for U.S. stocks.

Previous merger and acquisition activity bursts peaked in 2000 and 2007 and preceded big stock sell-offs. During frothy markets, M&A activity tends to accelerate because companies see opportunity in purchasing growth rather than creating it from within. Investors reward them for their risk taking.

But as bull markets weaken, companies start to look too expensive... More

Halliburton aims to boost weak businesses after failed Baker Hughes deal

May 3, 2016 6:59 AM EDT

By Amrutha Gayathri

(Reuters) - Halliburton Co (NYSE: HAL) said it would consider acquisitions to bolster its weaker businesses as the world's No. 2 oilfield services company looked to move on after abandoning a deal to buy smaller rival Baker Hughes Inc (NYSE: BHI).

The deal would have helped Halliburton better compete with market-leader Schlumberger (NYSE: SLB) for the dwindling number of contracts from oil producers as crude prices stay stubbornly low.

While Halliburton is the market-leader in fracturing, cementing, and... More

Halliburton (HAL) Tops Q1 EPS by 3c

May 3, 2016 6:51 AM EDT

Halliburton (NYSE: HAL) reported Q1 EPS of $0.07, $0.03 better than the analyst estimate of $0.04. Revenue for the quarter came in at $4.2 billion versus the consensus estimate of $4.17 billion.

For earnings history and earnings-related data on Halliburton (HAL) click here.

... More

Trading Radar for 5/3: CBS (CBS), GrubHub (GRUB), Etsy (ETSY), USANA (USNA), WellCare (WCG) Report

May 2, 2016 2:24 PM EDT

The Trading Radar highlights key earnings and economic announcements for the next trading session:

Before Markets Open:
Earnings:

ALLETE, Inc. (NYSE: ALE) - consensus EPS $0.94
Allot Communications (Nasdaq: ALLT) - consensus EPS $0.00
AmTrust Financial (Nasdaq: AFSI) - consensus EPS $0.73
America First Multifamily Investors (Nasdaq: ATAX) - consensus EPS $0.08
Armada Hoffler Properties (NYSE: AHH) - consensus EPS $0.22
Arrow Electronics (NYSE:... More

Baker Hughes (BHI), Halliburton Ratings Remain on Review for Downgrade at Moody's

May 2, 2016 2:03 PM EDT

Moody's Investors Service ("Moody's") will continue its reviews for downgrade of Baker Hughes Incorporated and Halliburton Company (both A2, under review downgrade) following the announcement today that the two companies have terminated the merger agreement they entered into in November 2014, effective April 30, 2016. Moody's expects to conclude both the Baker... More

Notable Mergers and Acquisitions 5/2: (BCE) (ORCL)/(OPWR) (APOL) (WY)/(IP) (BHI)/(HAL)

May 2, 2016 9:49 AM EDT

*** BCE Inc. (NYSE: BCE) announced that it will acquire all of the issued and outstanding common shares of Manitoba Telecom Services Inc. (MTS) in a transaction valued at approximately $3.9 billion.

"Welcoming MTS to the Bell group of companies opens new opportunities for unprecedented broadband communications investment, innovation and growth for urban and rural Manitoba locations alike. Bell is excited to be part of the clear growth opportunities in Manitoba, and we plan to contribute new communications infrastructure and technologies that deliver the latest wireless, Internet, TV and media services to residents and... More

Pre-Open Stock Movers 05/02: (PTX) (OPWR) (OREX) (APOL) Higher; (NRX) (BIND) (UPL) (BIDU) Lower (more...)

May 2, 2016 9:27 AM EDT

Pernix Therapeutics (NASDAQ: PTX) 72% HIGHER; a disclosure after the close Friday that Steven Cohen's Point72 Asset Management, L.P. built up a 5.8% stake in the company.

NephroGenex, Inc. (NYSE: NRX) 65% LOWER; files Chapter 11

BIND Therapeutics, Inc. (NASDAQ: BIND) 61.4% LOWER; files Chapter 11.

Ultra Petroleum Corp. (NYSE: UPL) 58.4% LOWER; files Chapter 11.

Opower (NYSE:... More

Wall St. rebounds; Nasdaq breaks seven-day losing run

May 2, 2016 9:05 AM EDT

By Caroline Valetkevitch

(Reuters) - U.S. stocks rose on Monday, rebounding from losses last week, as financials gained with Berkshire Hathaway and weakness in the dollar eased worries about earnings for multinationals.

The Nasdaq snapped a seven-session losing streak, though Apple (NASDAQ: AAPL) fell for an eighth straight session, its longest run of losses since mid-1998.

Gains in consumer shares also lifted stocks, which on Friday had posted their largest weekly drop in more than two months. Amazon shares (NASDAQ: AMZN) jumped 3.7 percent to... More

Baker Hughes (BHI), Halliburton (HAL) Confirm Merger Termination

May 2, 2016 6:18 AM EDT

Halliburton Company (NYSE: HAL) and Baker Hughes Incorporated (NYSE: BHI) confirmed that the companies have terminated the merger agreement they entered into in November 2014, effective April 30, 2016.

While both companies expected the proposed merger to result in compelling benefits to shareholders, customers and other stakeholders, challenges in obtaining remaining regulatory approvals and general industry conditions that severely damaged deal economics led to the... More