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MDR

McDermott

$19.89

0.135 (0.68%)

, RDS.A

Royal Dutch Shell

$66.19

-0.13 (-0.20%)

07:22
08/07/18
08/07
07:22
08/07/18
07:22

McDermott announces contract from Shell Exploration and Production

McDermott International announced a contract from Shell Exploration and Production Company, a subsidiary of Royal Dutch Shell (RDS-a), for subsea umbilical and flowline installation at the Perdido development, located 230 miles south of Galveston, Texas, in the Gulf of Mexico. The scope of work includes project management of engineering and installation of a flexible flowline from the well to a pipeline end termination; installation of an umbilical; installation of four electrical flying leads and pre-commissioning. The contract award is reflected in McDermott's Q2 backlog.

MDR

McDermott

$19.89

0.135 (0.68%)

RDS.A

Royal Dutch Shell

$66.19

-0.13 (-0.20%)

MDR McDermott
$19.89

0.135 (0.68%)

12/20/17
MSCO
12/20/17
NO CHANGE
MSCO
Underweight
McDermott may have hard time recognizing CB&I synergies, says Morgan Stanley
Morgan Stanley analyst Ole Slorer said he sees room for concern over McDermott's (MDR) deal to combine in an all-stock transaction with CB&I (CBI). McDermott's "pristine" balance sheet and improved execution could be hurt by CBI's recent execution challenges and "higher than optimal" debt, while synergies from the merger may be difficult to realize, contends Slorer, who keeps an Underweight rating on McDermott shares.
01/23/18
KEYB
01/23/18
UPGRADE
KEYB
Overweight
McDermott upgraded to Overweight from Sector Weight at KeyBanc
01/24/18
KEYB
01/24/18
UPGRADE
Target $14
KEYB
Overweight
McDermott upgraded to Overweight with $14 target at KeyBanc
KeyBanc analyst Tahira Afzal upgraded McDermott (MDR) to Overweight from Sector Weight with a $14 price target. The analyst expects a "step-up in execution" at CB&I (CBI) following the merger and has confidence in a sustained improvement in the energy macro environment. He believes the deal will create value.
04/23/18
SBSH
04/23/18
NO CHANGE
SBSH
McDermott bid would need to be closer to $10/share to break CB&I deal, says Citi
Citi said Subsea 7's hostile bid for McDermott (MDR) for $7 per share was an interesting and unexpected move, but the firm believes any proposal would have to be closer to $10 per share to disrupt the current terms of the deal with CB&I (CBI), which it notes is well down the road toward closing. Citi's "strong sense" is that McDermott, with the support of a majority of its board, is intent on staying the course in closing the deal with CB&I, adding that it thinks McDermott is buying CB&I at or near the bottom of a backlog cycle.
RDS.A Royal Dutch Shell
$66.19

-0.13 (-0.20%)

07/19/18
RAJA
07/19/18
UPGRADE
RAJA
Outperform
Royal Dutch Shell upgraded to Outperform from Market Perform at Raymond James
07/19/18
RAJA
07/19/18
UPGRADE
RAJA
Outperform
Royal Dutch Shell upgraded to Outperform on yield at Raymond James
As previously reported, Royal Dutch Shell upgraded Royal Dutch Shell to Outperform from Market Perform. Analyst Jean-Pierre Dmirdjian said the macro backdrop remains supportive of Brent pricing and Royal Dutch Shell shares are attractive with a 5.5% dividend yield. Dmirdjian comments the BG Group acquisition is paying off, capax has decreased commensurately with reserves replacement cost, and has exhibited the lowest FD&A cost in the sector.
08/01/18
MSCO
08/01/18
DOWNGRADE
MSCO
Equal Weight
Royal Dutch Shell downgraded to Equal Weight from Overweight at Morgan Stanley
08/02/18
08/02/18
DOWNGRADE

On The Fly: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Hanesbrands (HBI) downgraded to Equal Weight from Overweight at Barclays with analyst Chethan Mallela saying he sees a lack of visibility into the second half of the year following the company's Q2 results. 2. Royal Dutch Shell (RDS.A) downgraded to Equal Weight from Overweight at Morgan Stanley. 3. Verisk Analytics (VRSK) downgraded to Market Perform from Outperform at Keefe Bruyette with analyst Arash Soleimani citing valuation. 4. People's Utah Bancorp (PUB) downgraded to Market Perform at Raymond James with analyst David Long citing valuation. 5. Wendy's (WEN) downgraded to Neutral ahead of Q2 report at Kalinowski with analyst Mark Kalinowski saying his checks indicate July same-store-sales are trending below the +1.5% level and were the worst checks since February 2012. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.

TODAY'S FREE FLY STORIES

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LITE

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VERI

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CBTX

CBTX

$33.14

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XBI

SPDR S&P BIOTECH

$78.80

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KEP

Korea Electric Power

$12.00

0.06 (0.50%)

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TIF

Tiffany

$109.48

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, SIG

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TSLA

Tesla

$337.76

6.61 (2.00%)

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SRCL

Stericycle

$47.11

0.07 (0.15%)

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HD

Home Depot

$177.04

-2.47 (-1.38%)

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ROST

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T

AT&T

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NVDA

Nvidia

$194.00

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$NSD

NASDAQ Market Internals

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AMAG

Amag Pharmaceuticals

$18.04

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$NYE

NYSE Market Internals

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AMAG

Amag Pharmaceuticals

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0.07 (0.39%)

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AAL

American Airlines

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0.85 (2.31%)

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10:02
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GEOS

Geospace

$14.58

(0.00%)

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