AOL Money & Finance

RIG posts

Feed

Earnings highlights: AIG, Caterpillar, Cisco, News Corp., Procter & Gamble ...

Here are some highlights from last week's earnings coverage from BloggingStocks:

Continue reading Earnings highlights: AIG, Caterpillar, Cisco, News Corp., Procter & Gamble ...

Transocean (RIG) falls on Q2 earnings release

RIG logoTransocean Ltd. (NYSE: RIG - option chain) stock is falling today after the company reported a second-quarter profit this morning of $806 million, or $2.49 per share. Excluding one-time items, Transocean earned $2.79 per share on revenue of $2.88 billion, missing analysts' projections of $3.03 per share on revenue of $2.94 billion. If you think this stock won't be rising too far in the coming months, then it could be a good time to look at a bearish hedged play on RIG.

This morning, RIG opened at $77.96. So far today the stock has hit a low of $76.90 and a high of $78.91. As of 11:15, RIG is trading at $77.20, down $3.13 (-3.9%). The chart for RIG looks bullish and S&P gives RIG a positive 5 STARS (out of 5) strong buy ranking.

Continue reading Transocean (RIG) falls on Q2 earnings release

Cramer on BloggingStocks: You can't afford to be certain

TheStreet.com's Jim Cramer says if you wait for market conditions to reach perfection, you'll be waiting a long time.

You know what? I am going to wait until I am sure housing has turned before I buy the homebuilders like Lennar (NYSE: LEN) (Cramer's Take) and Pulte (NYSE: PHM) (Cramer's Take). I am going to wait until the foreclosures peak before I buy Bank of America (NYSE: BAC) (Cramer's Take) and Wells Fargo (NYSE: WFC) (Cramer's Take).

I am going to wait until unemployment goes down before I buy 3M (NYSE: MMM) (Cramer's Take) and Disney (NYSE: DIS) (Cramer's Take) and IBM (NYSE: IBM) (Cramer's Take) and Caterpillar (NYSE: CAT) (Cramer's Take).

Continue reading Cramer on BloggingStocks: You can't afford to be certain

Drill Baby Drill? Maybe not really

Oil driller stocks have long been a favorite of hedge funds (and Karen Finerman of "Fast Money") and something of a proxy for expected movements in oil prices. During the huge oil spike last year, the Oil Service HOLDRs (ETF) (NYSE: OIH) Oil Services ETF shot the moon. Buyers bid up issues of the underlying companies based on expectations that persistent oil prices in excess of $100 per barrel would make exploration and extraction of hard to reach deposits financially viable.

Continue reading Drill Baby Drill? Maybe not really

Cramer on BloggingStocks: Irrational energy moves

Why does the market just go straight down whenever the oil futures go lower? TheStreet.com's Jim Cramer says.

A market driven by the price of oil -- good when it goes up and bad when it goes down -- is way too binary to profit from. Yet that's where we find ourselves and it is so counterintuitive as to be unnerving.

I think the fact that oil is struggling and failing to take out $60 is a good sign. The purchasing power of Americans is dependent upon jobs, expenses, psyche, interest rates and the stock market. We know that the stock market isn't our friend or our enemy, interest rates are still our friend, jobs are awful, and psyche seems like a push because the love for President Obama is still in the air.

Continue reading Cramer on BloggingStocks: Irrational energy moves

Cramer on BloggingStocks: 'Due' for a pullback ... but so what?

Yes, we've sprinted for the past several weeks, but the bulls can catch their breath yet again.

The too-far-too-fast police are out in full force today. Commodities have moved up too far too fast considering economic activity. Banks have moved up too much vs. nonperforming loans. Houses have moved up too fast considering foreclosures. And most important, stocks have moved up too fast vs. the fundamentals.

All of these, every one of these, are right. The problem is that they have been right for months. They were right when Bank of America (NYSE: BAC) (Cramer's Take) went from $3 to $6. They were right when BAC went from $6 to $9. And they were right again when, in a slew of upgrades, BAC went to $14.

Continue reading Cramer on BloggingStocks: 'Due' for a pullback ... but so what?

Cramer on BloggingStocks: The pain of being rational

TheStreet.com's Jim Cramer says it's hard not to capitulate when your clients demand irrationality.

When I was weighted short and we would have these seemingly endless days of rallying, it was the mornings that would get me. The mark-ups of the futures, the refusal of Asia or Europe to go down, the "tone." It was relentless.

Then I would get to the office and, after a long period in which all I heard were downgrades, I would be greeted by upgrades, where I would always scream, "Now? Now they upgrade Intel (NASDAQ: INTC) (Cramer's Take)?" Or, "He's putting Research In Motion (NASDAQ: RIMM) (Cramer's Take) on the list now, after this run?" Or, "Wells Fargo (NYSE: WFC) (Cramer's Take) goes from hold to buy? After it ran up 4 points? What is he thinking?"

Continue reading Cramer on BloggingStocks: The pain of being rational

Transocean (RIG): Drilling for deepwater gains

Energy sector specialist Elliott Gue sees opportunity in Transocean (NYSE: RIG), a leadin player in the deepwater drilling area. Here's the latest advice from The Energy Strategist.

"The market for deepwater rigs, however, has remained resilient and one drilling with direct leverage to deepwater rigs is US giant, Transocean, the world's largest offshore drilling company, with 136 rigs as well as ten under construction.

"Roughly 68 of those rigs are 'semisubmersibles,' and 39 are ultra-deepwater or deepwater rigs capable of drilling many of the complex plays being targeted around the world today.

Continue reading Transocean (RIG): Drilling for deepwater gains

Analyst upgrades, downgrades and initiations: AMZN, RS, JNJ, NFLX ...

Analyst upgrades:
  • Citigroup upgraded Amazon.com (NASDAQ: AMZN) to Buy from Hold on expectations the company's top-line growth rate could be more sustainable than expected and its operating margins could recover given due to less retail discounting. The firm raised its price target on shares to $97 from $65.
  • UBS upgraded King Pharmaceuticals (NYSE: KG) to Buy from Sell based on expectations that Sandoz will settle patent litigation regarding Skelaxin after last weeks settlement of Clarinex with Schering-Plough (SGP).
  • Jefferies upgraded Reliance Steel (NYSE: RS) to Buy from Hold as it believes steel prices and demand are close to near-term bottoms. The firm raised its target on the stock to $44 from $25.
  • Palm (NASDAQ: PALM) was raised to Buy from Neutral at Banc of America/Merrill.
  • Nestle (OTC: NSRGY) was lifted to Neutral from Underweight at JP Morgan.
  • Johnson & Johnson (NYSE: JNJ) was upgraded at Wachovia to Outperform from Market Perform.

Continue reading Analyst upgrades, downgrades and initiations: AMZN, RS, JNJ, NFLX ...

Transocean: Perhaps the most frustrating stock in the world

Of all the massive stock sell-offs during the financial crisis and recession, perhaps none has been more exasperating than Transocean (NYSE: RIG), the world's largest off-shore drilling company.

Go figure RIG. Here was a company that had every fundamental running in its favor: demonstrated business model, competitive advantage in established and emerging markets, global trend as a support, large-cap operation.

Continue reading Transocean: Perhaps the most frustrating stock in the world

Cramer on BloggingStocks: Skeptical of oil drillers

TheStreet.com's Jim Cramer says the price of crude isn't high enough to reignite the oil drilling companies.

Crude's awesome and it's really pushing up the whole complex. The stocks of the oils and the oil drillers are powering higher even as drilling is going down hard. Is it possible that the integrateds are right and the drilling stocks are wrong? Or should they both be going up together?

I wrestle over this issue every day because one of the main reasons why oil is going up, besides the endless "dollar-going-down-oil-safe-haven" trade that the media loves to go out with in order to sound smart, is that the drilling around the world has been cut back dramatically. I think that a deal like Suncor (NYSE: SU) (Cramer's Take) and Petro-Canada (NYSE: PCZ) (Cramer's Take) is great for the oils. It makes me recognize that there is value here in the group. I also believe the demand is real.

Continue reading Cramer on BloggingStocks: Skeptical of oil drillers

Earnings highlights: Walmart, Comcast, CVS, Sprint, Hormel, Priceline and more

Here are some highlights from this past week's earnings coverage from BloggingStocks:

Continue reading Earnings highlights: Walmart, Comcast, CVS, Sprint, Hormel, Priceline and more

Diamond Offshore Drilling (DO) to be added to S&P 500

DO logoDiamond Offshore Drilling (NYSE: DO - option chain) shares have been just about flat today after Standard & Poor's (NYSE: MHP) announced that the company will be added to the S&P 500 Index on a date still to be determined, replacing Weatherford International Ltd. (NYSE: WFT). This usually causes a surge in stock value as all the ETFs that track the S&P 500 now have to rush to add DO positions.

While DO is not rising today, it is also not falling sharply like the rest of the market, especially when compared to its peers like Transocean (NYSE: RIG), which just reported slowing earnings today and is down by more than 5%. If you think that DO won't fall by too much in the coming months, then now could be a good time to look at a bullish hedged trade on that stock.

Continue reading Diamond Offshore Drilling (DO) to be added to S&P 500

Cramer on BloggingStocks: This time around, bad is just bad

TheStreet.com's Jim Cramer says picking stocks -- or worse, picking a bottom -- remains a dangerous activity.

Sometimes it is so bad that it is BAD! Don't laugh at that seeming bit of counterintuitive logic. Every investment professional knows that because of the way economic cycles and central banks work, you are often looking for signs of such stress and negativity that it is so bad it is GOOD because of what the banks can do and what a bottom looks like.

This time it hasn't worked out that way. This time, what's bad is bad and getting worse. This weekend, David Carr in The New York Times wrote an excellent piece about the mistake of looking for a silver lining, something that news media does.

Continue reading Cramer on BloggingStocks: This time around, bad is just bad

Stock picks and pans for troubled times: CAT, MON, EL, ISRG, NTT, RIG, SIRI ...

Amazingly, this week is about to end with stock markets logging gains. Not grim earnings, not glum retail sales, not dismal car sales, nor even weaker-than-expected jobs report seemed able to put a dent in investors' hopes the stimulus bill would pass.

And it's not even the Dow stocks that are leading the advances. As of noon today, the Dow was up about 3% for the week, while the S&P 500 gained about 4.5% and the Nasdaq composite soared some 7%. If you're sorry you didn't take part of this rally, and think perhaps there's more to come after the Senate finally approves the stimulus plan, then BloggingStocks contributors have some ideas for long-term holdings, as well as a few warnings:

Continue reading Stock picks and pans for troubled times: CAT, MON, EL, ISRG, NTT, RIG, SIRI ...

Next Page >

Symbol Lookup
IndexesChangePrice
DJIA+17.4610,023.42
NASDAQ+7.122,112.44
S&P 500+2.671,069.30

Last updated: November 08, 2009: 09:52 PM

BloggingStocks Exclusives

Hot Stocks

DailyFinance Headlines

Latest from BloggingBuyouts

WalletPop Headlines

AOL Business News

BioHealth Investor Headlines

Sponsored Links

My Portfolios

Track your stocks here!

Find out why more people track their portfolios on AOL Money & Finance then anywhere else.

BloggingStocks Partners

More from AOL Money & Finance