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Tag: Earnings

Ahead of earnings, Weatherford sells off Middle East rigs

Ahead of earnings, Weatherford sells off Middle East rigs

Business
July 12 (UPI) -- Ahead of its second quarter earnings report, drilling services company Weatherford said it sold off Middle East assets for $ 287.5 million. A regional subsidiary of Weatherford International sold off its drilling operations in Algeria, Kuwait and Saudi Arabia, along with two idled land rigs in Iraq, to regional services provider ADES International Holding for $ 287.5 million. Through the agreement, ADES more than doubles its payroll count and adds 31 rigs and related contracts to its portfolio. "This landmark transaction significantly expands ADES' total fleet and more than doubles its operational fleet, in line with our strategy of executing smart acquisitions, alongside building our backlog and participation in tenders," ADES CEO Mohamed Farouk said in a statement. ADE...
Value investor Bob Olstein: Quarterly earnings estimates by companies should be 'illegal'

Value investor Bob Olstein: Quarterly earnings estimates by companies should be 'illegal'

Finance
Noted value investor Bob Olstein is 100 percent behind the call by Warren Buffett and Jamie Dimon to end quarterly earnings guidance by companies. "They should make it illegal to make specific quarterly earnings estimates. It leads to nothing that is good. They manipulate earnings to reach it. They take their eye off the football," the chairman and chief investment officer at The Olstein Funds said Thursday on "Closing Bell." Buffett, chairman and CEO of Berkshire Hathaway, and Dimon, chairman and CEO of J.P. Morgan Chase, teamed up in a rare joint interview that aired on CNBC earlier in the day to explain their stance. ...

The Earnings Beat: Four Stocks To Watch For the Coming Week (HD, CSCO, WMT, DE)

Finance
[unable to retrieve full-text content]Thanks to a resurgence in oil prices, which closed above $ 70 per barrel, equities booked another solid week of solid gains. But can it continue, particularly with the oil prices now at four-year highs ? Led by energy stocks, the Dow Jones industrial average added 91 points on Friday to extend a seven-day winning Latest Articles in
Watch the Fed's GDP tracker for signs stock earnings growth is about to peak

Watch the Fed's GDP tracker for signs stock earnings growth is about to peak

Finance
Weighing the good news versus the bad news issuing from the economy is one of the most critical things investors do, but human biases get in the way. That's a simple way of saying that people believe what they believe, even in the face of contradictions.We have a massive jump in stock buybacks, courtesy of the tax law that was passed last December. Corporate earnings continue to come in stronger than expected. The labor market is healthy, consumer confidence is high and investors added a record amount of money to U.S. stock funds over the past week.It's hard to envision a slowdown in global economic growth on the horizon unless we get into a trade war with China. That could happen, but the current betting on Wall Street is that cooler heads will prevail. With this good news at investors' b...