Scott Gruber News
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Billionaire investor Carl Icahn proposed three new Transocean Ltd. board candidates and said he’d push for a higher dividend after the world’s largest rig contractor offered what he termed a “meager” shareholder payout. The company called his plan “overly aggressive.”
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Patterson-UTI Energy Inc. climbed the most in more than three years after reporting sales from hydraulic fracturing work that surpassed analysts’ expectations.
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Activist investors from Carl Icahn to Daniel Loeb are amassing stakes in energy companies to replace directors and spin off assets dragging down valuations amid record oil prices.
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Carl Icahn’s new stake in Transocean Ltd. may raise pressure on the world’s largest offshore driller to put some of its rigs into a tax-advantaged partnership as the billionaire seeks to boost his investment’s value.
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Cameron International Corp., the second-largest oilfield-equipment maker in the U.S., rose after orders for new gear almost doubled.
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Halliburton Co., the world’s largest provider of hydraulic-fracturing services, said North American profit margins this quarter will shrink more than previously forecast because of higher material costs.
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Pride International Inc. and Rowan Cos. are “attractive” merger and acquisition candidates, Scott Gruber, an analyst with Sanford Bernstein & Co., wrote in a report today.
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Transocean Ltd., the deep-water rig owner that’s trailed competitors in the stock market since its equipment burned and sank in the 2010 Gulf of Mexico oil spill, is set to benefit the most this year from a surge in demand.
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Motorola Mobility Holdings Inc. had rallied 40 percent from its spinoff when Adnaan Ahmad started covering the stock with a “sell” rating. The mobile-phone maker has lost nearly all its gain since his Jan. 21 report.
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Baker Hughes Inc., the world’s third-largest oilfield services provider, rose the most in more than three months after beating analysts’ estimates on improved performance in North America.
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