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Fly News Breaks for December 30, 2015
NOV
Dec 30, 2015 | 08:03 EDT
JPMorgan analyst Sean Meakim says National Oilwell Varco's settlement with EAS in Brazil removes an impairment overhang and could provide "some near term relief" for the shares. Since National remains cash ahead on its contracts, it won't take a charge in Q4, though its Rig Systems backlog will be reduced by $1.1B, Meakim tells investors in a research note. He keeps a Neutral rating on the stock.
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