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ESV

Ensco Rowan

$4.40

-0.09 (-2.00%)

, RDC

Rowan Companies

$12.06

-0.32 (-2.58%)

11:45
02/08/19
02/08
11:45
02/08/19
11:45

Ensco says ISS, Glass Lewis, Egan-Jones recommend vote for Rowan merger

Ensco (ESV) announced that Institutional Shareholder Services, Glass, Lewis & Co. and Egan-Jones Proxy Services recommend that Ensco shareholders vote "FOR" the Company's pending combination with Rowan (RDC). As announced on January 29, 2019, Ensco entered into an amendment to the transaction agreement with Rowan under which the companies will combine in an all-stock transaction. Under the terms of the amended transaction agreement, upon closing, Rowan shareholders will receive 2.750 Ensco shares for each Rowan share. All other terms and conditions of the transaction agreement that Ensco and Rowan entered into on October 7, 2018 remain the same. In its February 4, 2019 report, ISS concluded: "In light of the reasonable valuation, the compelling strategic rationale of the proposed transaction, and the positive impact to Ensco's balance sheet, support FOR the proposed merger remains warranted." Ensco's Board of Directors unanimously recommends that Ensco shareholders vote "FOR" the proposal to combine with Rowan in an all-stock transaction at the upcoming Ensco General Meeting, which is necessary to complete the merger.

ESV

Ensco Rowan

$4.40

-0.09 (-2.00%)

RDC

Rowan Companies

$12.06

-0.32 (-2.58%)

ESV Ensco Rowan
$4.40

-0.09 (-2.00%)

12/20/18
BTIG
12/20/18
NO CHANGE
BTIG
Transocean, Ensco price targets lowered at BTIG
BTIG analyst Gregory Lewis lowered his price target on Transocean (RIG) to $14 from $18 and Ensco (ESV) to $8 from $14 as part his broader research note on Offshore Drilling partially titled "Some Coal for the Stocking". The analyst notes that the decline in the oil price has driven offshore drilling stocks down by about 55% quarter-to-date on average, with expectations of activity also being pushed out for the sector. Lewis further states that expectations for an offshore recovery in 2019 were already low, however the market appears to be increasingly more concerned with the possibility of a recession risk. Longer term, Lewis rates both stocks at a Buy and notes some "positive momentum" in the "on-contracted jackup fleet at 314 rigs, which is 3% above the 2018 average and 6% above the 2017 average."
12/20/18
12/20/18
DOWNGRADE

Fly Intel: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Macerich (MAC) downgraded to Sector Weight from Overweight at KeyBanc. 2. Eventbrite (EB) downgraded to Hold from Buy at Stifel with analyst Scott Devitt citing valuation. 3. HSBC (HSBC) downgraded to Sell from Hold at Edward Jones. 4. Noble Corp (NE) and Ensco (ESV) were downgraded to Hold from Buy at Societe Generale. 5. Greif (GEF) downgraded to Underperform from Outperform at BMO Capital. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
12/28/18
WELS
12/28/18
NO CHANGE
WELS
Wells sees 'rocky times ahead' for Oil Services and Equipment market
Emerging data points suggest "rocky times ahead" for the North American Oil Services and Equipment market in early 2019, Wells Fargo analyst Judson Bailey tells investors in a research note. As oil prices and macro conditions have weakened to end 2018, a number of recent conversations suggest a "quickly deteriorating" outlook for exploration and production budgets, activity levels and pricing over the first few months of 2019, adds the analyst. He believes the case for "much needed consolidation" across the U.S. oilfield services landscape "has never been greater."
01/09/19
DNBM
01/09/19
UPGRADE
DNBM
Buy
Ensco upgraded to Buy from Hold at DNB Markets
RDC Rowan Companies
$12.06

-0.32 (-2.58%)

12/19/18
FBCO
12/19/18
DOWNGRADE
Target $10
FBCO
Neutral
Rowan Companies downgraded to Neutral at Credit Suisse
As previously reported, Credit Suisse analyst James Wicklund downgraded Rowan Companies to Neutral from Outperform as he updates his sector-wide macro forecasts for a lower expected oil price. In 2019, the analyst sees the overall U.S. rig count declining by about 5%, a 5% decline in completions and a 3% decline in pressure pumping horsepower needed. Wicklund also lowered his price target on the shares to $10 from $20.
12/20/18
SOCG
12/20/18
DOWNGRADE
SOCG
Rowan Companies downgraded to Hold from Buy at Societe Generale
Societe Generale analyst Edward Muztafago downgraded Rowan Companies to Hold from Buy and lowered his price target to $10 from $24.
01/09/19
DNBM
01/09/19
UPGRADE
DNBM
Buy
Rowan Companies upgraded to Buy from Hold at DNB Markets

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POST

Post Holdings

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Post Holdings rating change at Piper Jaffray »

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VMW

VMware

$174.34

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VMware to acquire Bitfusion, terms not disclosed »

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Fly Intel: After Hours Movers »

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Microsoft

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Chewy

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RRGB

Red Robin

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Gannett

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IFRX

InflaRx

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BA

Boeing

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MVIS

MicroVision

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OZK

Bank OZK

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ISRG

Intuitive Surgical

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13.25 (2.53%)

AA

Alcoa

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MGM

MGM Resorts

$28.75

-0.095 (-0.33%)

, MGP

MGM Growth

$30.00

-0.06 (-0.20%)

18:50
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Periodicals
MGM said to consider sale-leaseback of Bellagio, MGM Grand, Bloomberg says »

The report states the…

MGM

MGM Resorts

$28.75

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MGM Growth

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AAL

American Airlines

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0.5 (1.50%)

, UAL

United Continental

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0.44 (0.46%)

18:49
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Periodicals
POTUS meets with U.S. airlines over Qatar subsidy accusations, Reuters says »

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AAL

American Airlines

$33.75

0.5 (1.50%)

UAL

United Continental

$95.27

0.44 (0.46%)

JBLU

JetBlue

$19.23

0.14 (0.73%)

FDX

FedEx

$165.39

0.375 (0.23%)

AAWW

Atlas Air

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0.79 (1.89%)

BA

Boeing

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NUE

Nucor

$54.68

-0.03 (-0.05%)

18:44
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Hot Stocks
Nucor CEO: We are very pleased with the results from the tariffs »

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NABZY

National Australia Bank

$0.00

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Hot Stocks
National Australia Bank names Ross McEwan as new CEO »

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BAC

Bank of America

$29.48

0.3 (1.03%)

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Bank of America CEO: Millennials are a huge customer base for us »

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TAP

Molson Coors

$54.37

0.08 (0.15%)

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Hot Stocks
Molson Coors raises quarterly dividend to 57c from 41c per share »

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MSFT

Microsoft

$136.29

0.06 (0.04%)

18:04
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Hot Stocks
Breaking Hot Stocks news story on Microsoft »

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BAS

Basic Energy

$1.81

-0.1 (-5.24%)

18:02
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Hot Stocks
Basic Energy announces record setting lateral completion in Permian Basin »

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MSFT

Microsoft

$136.29

0.06 (0.04%)

18:02
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Hot Stocks
Microsoft CFO continues to expect double digit revenue growth in FY20 »

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QTRH

Quarterhill

$1.23

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18:02
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Hot Stocks
WiLAN unit acquires patent portfolio from Vidiator »

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MSFT

Microsoft

$136.29

0.06 (0.04%)

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Earnings
Microsoft sees total Q1 revenue at implied $31.7B-$32.4B, consensus $32.0B »

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RRGB

Red Robin

$30.58

0.32 (1.06%)

18:00
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Red Robin up 17% after confirming $40.00 per share offer from Vintage Capital »

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T

AT&T

$33.09

-0.17 (-0.51%)

17:54
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Periodicals
AT&T mulls sale of Puerto Rican business to pay down debt, Bloomberg says »

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RRGB

Red Robin

$30.58

0.32 (1.06%)

17:53
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Hot Stocks
Red Robin confirms $40.00 per share cash buyout proposal from Vintage Capital »

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MSFT

Microsoft

$136.29

0.06 (0.04%)

17:50
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Hot Stocks
Microsoft CFO: Q4 another quarter of double-digit top and bottom line growth »

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HBIO

Harvard Bioscience

$1.78

0.03 (1.71%)

17:46
07/18/19
07/18
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17:46
Hot Stocks
Harvard Bioscience names Michael Rossi CFO »

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MSFT

Microsoft

$136.29

0.06 (0.04%)

17:43
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Hot Stocks
Microsoft CEO seeing growing momentum across every layer of its stack »

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ISRG

Intuitive Surgical

$536.44

13.25 (2.53%)

17:38
07/18/19
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17:38
Hot Stocks
Intuitive Surgical falls after Q2 report, despite earnings beat »

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GLD

SPDR Gold Shares

$136.44

1.85 (1.37%)

17:33
07/18/19
07/18
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Hot Stocks
SPDR Gold Shares holdings rise to 814.62MT from 803.18MT »

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WAL

Western Alliance

$44.45

0.74 (1.69%)

17:29
07/18/19
07/18
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Earnings
Western Alliance reports Q2 EPS 1.19, consensus $1.16 »

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