Seadrill (SDRL -1.9%) is cut to Neutral at HSBC Securities, which notes industry fundamentals...
Monday, September 10, 2012, 10:43 AM ETSeadrill (SDRL -1.9%) is cut to Neutral at HSBC Securities, which notes industry fundamentals remain strong but the surprise factor is limited. The firm says $4B of ultra-deepwater contracts in July are a clear sign of drilling market momentum, but upside to market expectations is more limited vs. elsewhere in oil services. Also, SDRL plans to sell $1B in unsecured notes via a private offering for institutional investors.
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