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RDC

Rowan Companies Inc.

5/21/2013, 6:09 AM ET

Quote & Headlines Market Currents StockTalk

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| Earnings
| Dividends
| M&A
| On the move

Friday, May 3, 11:46 AM Rowan Companies (RDC +3.7%) is upgraded to Buy from Hold at Jefferies, which sees a better handle on operations and its review of possible rig projects suggests downtime risk is manageable and 2014 estimates are achievable. As such, the firm says it can refocus on "peer-leading growth prospects" for 2016. Comment! [Energy, Quick Ideas, On the Move]
Wednesday, May 1, 8:22 AM Rowan Cos (RDC): Q1 EPS of $0.55 beats by $0.03. Revenue of $394.2M (+18% Y/Y) beats by $7.71M. (PR) 1 Comment [Earnings, Breaking News]
Wednesday, May 1, 12:05 AM Notable earnings before Wednesday’ s open: AB, ADT, AFAM, AFSI, AGN, AH, AMT, ARW, AVA, CCJ, CHK, CLH, CLX, CMCSA, CVH, CVS, DLPH, DVN, ENR, EXAS, EXC,GRMN, GWR, H, HSP, HUM, ICE, IPGP, IQNT, IRM, JRCC, KCG, KFN, MA, MKL, MRK, NVO, PDCE, PKD, POR, PSX, RDC, RDN, SEE, SPW, TLM, TWX, VG, VIAB, VPHM Comment! [Earnings]
Tuesday, April 30, 5:30 PM Notable earnings before Wednesday’ s open: AB, ADT, AFAM, AFSI, AGN, AH, AMT, ARW, AVA, CCJ, CHK, CLH, CLX, CMCSA, CVH, CVS, DLPH, DVN, ENR, EXAS, EXC,GRMN, GWR, H, HSP, HUM, ICE, IPGP, IQNT, IRM, JRCC, KCG, KFN, MA, MKL, MRK, NVO, PDCE, PKD, POR, PSX, RDC, RDN, SEE, SPW, TLM, TWX, VG, VIAB, VPHM Comment! [Earnings]
Tuesday, March 19, 12:35 PM Rowan (RDC -3%) says it's open to forming a tax-advantaged partnership for some of its rigs, CEO Matt Ralls says, but will let another rig contractor such as Transocean (RIG) prove the effectiveness of the MLP structure first. “The jury’s still out" on the Seadrill (SDRL) partnership, Ralls says: “When you look at the way their stock trades, it’s not clear they’ve improved." Comment! [Energy, On the Move]
Thursday, March 7, 5:34 PM Rowan Cos. (RDC) appoints Tom Burke as President in addition to his current duties as COO, lining him up as the likely successor to CEO Matt Ralls, who will retire in mid-2014. Comment! [Energy]
Thursday, February 28, 8:37 AM Rowan (RDC): Q4 EPS of $0.63 beats by $0.14. Revenue of $354.2M (+29% Y/Y) misses by $2.08M. (PR) Comment! [Earnings, Breaking News]
Thursday, February 28, 12:05 AM Notable earnings before Thursday’s open: AIXG, AWR, BDBD, BKS, BRLI, BRY, CHS, CTRX, CVC, DANG, DPZ, GMXR, GTLS, HK, IRDM, IRM, ISIS, KSS, LKQ, MCGC, MTG, NIHD, OCN, PKT, RDC, RNO, SDRL, SHLD, TD, TTI, VRX, WNR, WPX, WWE Comment! [Earnings]
Wednesday, February 27, 5:30 PM Notable earnings before Thursday’s open: AIXG, AWR, BDBD, BKS, BRLI, BRY, CHS, CTRX, CVC, DANG, DPZ, GMXR, GTLS, HK, IRDM, IRM, ISIS, KSS, LKQ, MCGC, MTG, NIHD, OCN, PKT, RDC, RNO, SDRL, SHLD, TD, TTI, VRX, WNR, WPX, WWE Comment! [Earnings]
Thursday, February 21, 12:15 PM Rowan (RDC -2.6%) secures a three-year charter from Maersk for a jack-up to work in Qatar at a dayrate in the low $140Ks, near double the mid $70Ks the Rowan California rig had been garnering. Also, RDC secures short-term contracts for its Rowan Louisiana and EXL III jack-ups at day rates in the low $120Ks and the low $160Ks, higher than previous rates. Comment! [Energy, On the Move]
Thursday, February 7, 3:23 PM Barclays analysts downplay the impact of the safety notice on offshore drillers ordering inspection of subsea equipment on some Gulf of Mexico drilling rigs for faulty bolts. "While this event poses additional downtime risk for these drillers, we believe the downtime would be limited and can be often mitigated through the course of normal operations," the firm says. 7 Comments [Energy]
Wednesday, February 6, 3:17 PM Shares of oil and gas drillers slide to session lows following a Bloomberg report that drilling regulators had directed offshore operators to halt work on some oil and gas wells in the Gulf of Mexico after discovering faulty bolts on equipment used to prevent blowouts. Replacing all bolts on blowout preventers could cost millions, Rowan (RDC) CEO Matt Ralls says. 12 Comments [Energy]
Tuesday, December 4, 2012, 12:35 PM Oilfield activity outside North America will drive a 7% rise in 2013 global energy E&P spending to a record $644B, Barclays projects while recommending buying oilfield services stocks. The sector's big four - SLB, HAL, BHI, WFT - are trading below their historical levels on most measures, it says, while RDC and Noble NBL are the best value among offshore drillers. 1 Comment [Energy, Global & FX, Quick Ideas]
Tuesday, November 27, 2012, 12:49 PM Rowan's (RDC -3.3%) new fleet contract status update includes a contract awarded to J.P. Bussell for work in Malaysia at a day rate in the high $130s, above its previous rate in the $120s. RDC will record a reduction in revenue of ~$7M, offset by a $2M reduction in costs, in Q4 to defer previously recognized amounts due to Ralph Coffman's ~60 days of compensated shipyard time. Comment! [Energy, On the Move]
Wednesday, October 31, 2012, 11:43 AM Rowan (RDC): Q3 EPS of $0.21 may not be comparable to consensus estimate of $0.48. Revenue of $354M (+50.8% Y/Y) beats by $13M. RDC says it has nine jack-ups in its active fleet with contract expirations in the next three quarters, and expects all those rigs to move to contracts at higher dayrates. Shares -3.3%. (PR) Comment! [Energy, Earnings, On the Move]
Wednesday, October 31, 2012, 12:05 AM Notable earnings before Wednesday’s open: AGCO, AMT, BWA, CAM, CKSW, CLX, CMI, CNH, COCO, ETN, GM, GRMN, IPGP, IRM, MA, MGM, MSCI, MT, NUS, NVO, PSX, PWR, RDC, SO, STX, UMC, VG, WEC, WM Comment! [Earnings]