Services

Subsea 7 Says Could Change Offer If McDermott Cooperates

Norwegian offshore oil services firm Subsea 7 is open to potentially sweetening its $2 billion offer for McDermott (NYSE: MDR) if the U.S. company would work with it to identify additional benefits of a deal, Subsea said on April 25. The Norwegian firm’s comments come a week before McDermott’s s ...

McDermott Loan Slides As Investors Digest Subsea 7’s Hostile Bid

U.S. engineering firm McDermott’s US$2.26 billion term loan fell in the secondary loan market on April 24 after a US$2 billion unsolicited bid from offshore oil services firm Subsea 7 threatened to break up McDermott’s agreed bid for onshore engineering firm Chicago Bridge & Iron (CB&I). McDermo ...

Saipem Scouting Around As Subsea 7 Bid Makes Waves

Italian oil services group Saipem is looking round for growth opportunities after a bid by rival Subsea 7 for U.S. contractor McDermott sent waves through the sector. "The bid is a sign of consolidation in the sector that needs to be monitored closely," Saipem CEO Stefano Cao said on April 24 in a c ...

Subsea 7 Makes $2 Billion Hostile Bid To Break Up McDermott's US Deal

Offshore oil services firm Subsea 7 SA has made an unsolicited offer for U.S. rival McDermott International Inc. (NYSE: MDR) for about $2 billion, potentially breaking up the U.S. company's agreed deal with Chicago Bridge & Iron Co., also known as CB&I (NYSE: CBI). Subsea said McDermott's board had ...

Tech Talk for Monday April 23rd 2018

Pre-opening Comments for Monday April 23rd U.S. equity index futures were higher this morning. S&P 500 futures were up 6 points in pre-opening trade. First quarter reports continue to pour in. Companies that reported this morning included Alaska Airlines, Kimberly Clark, Halliburton and Hasbro. K ...

Tech Talk for Thursday April 19th 2018

  Observation The CRB Index broke above 201.19 to reach a 30 month high.   StockTwits Released Yesterday @EquityClock Technical action by S&P 500 stocks to 10:30: Bullish. Breakouts: $CMG $KMX $SLB $BSX $ISRG $CSX $TXT $EXC $NEE $EXPD. No breakdowns. Editor’s Note: After 10:30 AM EDT, breakout ...

Tech Talk for Wednesday April 18th 2018

Pre-opening Comments for Wednesday April 18th U.S .equity index futures were higher this morning. S&P 500 futures were up 9 points in pre-opening trade. First quarter reports continue to pour in. Companies that reported overnight included IBM, United Continental, Intuitive Surgical, CSX, Abbott La ...

Tech Talk for Monday April 16th 2018

Pre-opening Comments for Monday April 16th U.S. equity index futures were higher this morning. S&P 500 futures were up 15 points in pre-opening trade. Index futures were virtually unchanged following release of economic news released at 8:30 AM EDT. Consensus for March Retail Sales was an increase ...

Tech Talk for Thursday April 12th 2018

Pre-opening Comments for Thursday April 12th U.S. equity index futures were higher this morning. S&P 500 futures were up 13 points in pre-opening trade. Index futures were virtually unchanged following release of the Weekly Jobless Report at 8:30 AM EDT. Consensus was 230,000 versus 242,000 last w ...

Tech Talk for Monday April 9th 2018

Pre-opening Comments for Monday April 9th 2018 U.S. equity index futures were higher this morning. S&P 500 futures were up 11 points in pre-opening trade. Early strength is attributed to downplay on a potential trade war with China by White House officials over the weekend. Merck gained $1.34 to $ ...