: iStockAnalyst.com Symbols Feed

Is Bad News Good Again?

Mon, 09 Nov 2009 13:29:08 GMT

There are times in the market when the action make little sense. For example, most investors probably expected the market to decline when the Labor Dept. reported that the Unemployment Rate hit the highest level since 1983. However, we just might be ent[More...]

Daily Highlights: Sept 24, 2009

Thu, 24 Sep 2009 13:05:03 GMT

Crude Oil drops nearer to $68 after unexpected US supply gain.EU raids cement makers, Holcim & Cemex in Spain, as part of a price-fixing probe.Euro falls from one-year high versus Dollar before meeting of G-20 leaders.European Commission proposed new bloc-wide regulatory bodies to supervise banks.Fed highlighted signs of recovery as it left rates steady.[More...]

Offshore Drilling Stocks: HERO, ATW, NE

Thu, 17 Sep 2009 17:52:20 GMT

Over the next few years, you will come across news of the discovery of one new giant oil field or another. It's inevitable.[More...]

June Phoenix update

Mon, 01 Jun 2009 13:28:04 GMT

By request, here is the latest update on the Phoenix list: ACCO Brands Corp (ABD), American Axle & Manufacturing Holdings I (AXL), ArvinMeritor Inc (ARM), Belo Corp (BLC), Clear Channel Outdoor Holdings Inc (CCO), Crosstex Energy Inc (XTXI), Dana Holding Corp (DAN), Delta Petroleum Corp (DPTR), Developers Diversified Realty Corp (DDR), Eastman Kodak Co (EK), Emcore Corp (EMKR), EW Scripps Co (SSP), FCStone Group Inc (FCSX), Ferro Corp (FOE), First Industrial Realty Trust Inc (FR), Gannett Co Inc (GCI), Great Atlantic & Pacific Tea Co (GAP), Hercules Offshore Inc (HERO), ION Geophysical Corp (IO), iStar Financial Inc (SFI), Phoenix Cos Inc/The (PNX), Sunrise Senior Living Inc (SRZ), Technitrol Inc (TNL), Warren Resources Inc (WRES), YRC Worldwide Inc (YRCW) and Zale Corp (ZLC).There are 26[More...]

Does Precision Drilling Belong In Your Portfolio? (Part II)

Mon, 09 Mar 2009 02:36:00 GMT

Here in Part II we will analyze the not so great part of Precision's business, the part that has driven its stock price down nearly 90%.[More...]

Phoenix Rising?

Tue, 24 Feb 2009 04:47:00 GMT

With the US equity market averages either probing or breaking down through their November lows, is it time to buy Phoenix stocks? Others have picked up on that theme, with the latest being a Minyanville article on buying beaten up stocks. With that in mind, I screened the US market for stocks with the following characteristics: Stock price between $1 and $5 (low-priced stocks)Down at least 80% from a year ago (beaten up)Market cap of $100 million or more (were once "real" companies)Net insider buying in the last six months (some downside protection from insider activity) This screen gives us a list of low-priced[More...]

The Strongest Jackup Play: Hercules Offshore

Mon, 10 Nov 2008 15:34:00 GMT

As a younger investor, I am extremely interested in many of the smaller companies because of their potential for extremely high returns. Obviously these returns come with much higher risks, but for young investors it is generally more prudent to take these types of risks when you have your whole life ahead of you and you are not trying to save. Hercules Offshore (HERO: 6.63, +0.31 (+4.91%)) is a company that fits this description perfectly due to their outstanding fundamentals and growth prospects as well as their track record [More...]

Oil Drillers: Ludicrous Selling leads to Terrific Value?

Tue, 16 Sep 2008 18:42:00 GMT

“Prices for energy stocks, including the drillers, are bombed-out and should be aggressively accumulated now,” says resource expert Eric Roseman.Here, the editor of The Commodity Trend Alert explains, “The absolute worst thing we can do is sell now.” Here’s his outlook on energy and drilling and a trio of buys.“The pain felt by commodity bulls[More...]

Today's Winners - It's All the Same Trade/Stock

Fri, 12 Sep 2008 20:09:00 GMT

Today's winner list is an example of why this is not a stock pickers market but a sector allocation market or as I like to say "It's all the same stock" Below is a list of 73 winners returning 6% or more. Instead of highlighting the commodity or global gr[More...]

A List of Best Performing Stocks Year to Date

Tue, 27 May 2008 01:16:00 GMT

Since we have a break in the action here, instead of doing our normal best performing stocks of the week (not many made the list this week due to a poor market), this is a good time to look at what is performing best so far this year. Further, due the composition of the list and with many of these stocks due for a correction it's probably worthwhile to take a look now, as things might change relatively soon. We looked at a similar list in early November (Nov 4: How to Make 75% in 3 Months) when the list was dominated by large cap Chinese stocks, a few big cap tech stocks, Indian stocks, and fertilizer. Except for fertilizer most of those groups stunk for the better part of the following 5 months, and hence "returned to the mean". However, the list did turn out a few gems we jumped on, so looking at such lists helps us to identify what has been working and what other[More...]

Red Hat, AnnTaylor, Nomura are among big movers

Thu, 24 Sep 2009 21:48:00 GMT

NEW YORK - The following stocks were among those that moved substantially or traded heavily Wednesday on the New York Stock Exchange and Nasdaq Stock Market:
Shares of the low-cost Linux software distributor hit a 12-month high after a jump in subscription revenue boosted quarterly earnings.
AnnTaylor Stores Corp., down 72 cents to $15.56.

[More...]

Hercules Offshore Announces Second Quarter 2009 Results and Credit Facility Amendment

Thu, 23 Jul 2009 18:53:00 GMT

(Logo: www.newscom.com/cgi-bin/prnh/20050601/DAW092LOGO)
When including the effect of non-recurring items, the Company reported a loss from continuing operations of $11.8 million, or $0.13 per diluted share for the second quarter 2009, compared with income from continuing operations of $16.4 million, or $0.18 per diluted share for the second quarter 2008.
The second quarter 2009 results include a non-cash charge of $26.9 million to reflect the impairment of the Hercules 110 and a $13.7 million gain on the retirement of $65.8 million aggregate principal amount of our 3.375% Convertible Senior Notes, net of the related write-off of unamortized issuance cost.

[More...]

Hercules Offshore Announces Second Quarter 2009 Results and Credit Facility Amendment

Thu, 23 Jul 2009 10:57:00 GMT

Hercules Offshore, Inc. today reported a loss from continuing operations of $7.6 million, or $0.09 per diluted share, on revenues of $183.7 million for the second quarter 2009, excluding the effects of non-recurring items, compared with income from continuing operations of $20.0 million, or $0.22 per diluted share, on revenues of $270.1 million for the second quarter 2008, also excluding non-recurring items.When including the effect of non-recurring items, the Company reported a loss from continuing operations of $11.8 million, or $0.13 per diluted share for the second quarter 2009, compared with income from continuing operations of $16.4 million, or $0.18 per diluted share for the second quarter 2008. The second quarter 2009 results include a non-cash charge of $26.9 million to reflect the impairment of the Hercules 110 and a $13.7 million gain on the retirement of $65.8 million aggregate principal amount of our 3.375% Convertible Senior Notes, net of the related write-off of unamortized issuance cost. On an after-tax basis, these adjustments approximated $4.2 million, or $0.04 per share. The second quarter 2008 results include $5.5 million of separation and benefit related costs associated with the Company's executive management changes, or $3.6 million on an after-tax basis.John T. Rynd, Chief Executive Officer and President of Hercules Offshore, stated, 'While nearly every facet of our business has been impacted by the cyclical downturn in our industry, we have acted quickly and broadly to mitigate its effects. Since late 2008, we have taken numerous actions to dramatically reduce our cost structure and improve our cash flow, including cold stacking idle rigs and reducing capital spending. Our opportunistic retirement of debt at a discount to par, and the sale of non-core assets are recent measures that exemplify our commitment to strengthening our capital structure.'Mr Rynd continued, 'Further, today we are pleased to announce that we have reached an agreement with our lenders to amend our senior secured credit facility to provide the financial covenant relief that we believe will provide us with the flexibility needed to operate through the trough of this business cycle.'Mr. Rynd added, 'We remain confident in the industry's positive long-term fundamentals; however, we do not anticipate a meaningful upswing in the near-term. Jackup demand in the U.S. Gulf of Mexico is weak, with current demand running at approximately half that of previous historical lows. International demand and pricing are largely still showing signs of slowing; however, we were recently able to extend our contracts on Platform 3 and Hercules 206 in Mexico. These additional contract days add to our solid international backlog which will also help us weather this downturn.'CREDIT FACILITY AMENDMENTOn July 22, 2009, the Company received the lender consents necessary to amend its Credit Agreement related to its $882.0 million term loan and $250.0 million revolving credit facility. The Amendment is subject to certain closing conditions, including a reduction of the revolving credit facility, which is currently unfunded, to $175 million, but is expected to close within the next few business days.The Amendment modifies certain covenants of the Credit Agreement to, among other things:Eliminate the total leverage ratio financial covenant for the nine month period commencing October 1, 2009 and ending on June 30, 2010 and increase the total leverage ratio that we must maintain following the expiration of the nine month period to 8.0x for the quarter ended September 30, 2010, with step-downs thereafter,Revise the fixed charge coverage ratio definition and the minimum ratio that we must maintain to be more favorable to the Company,Add a minimum liquidity covenant, requiring the Company to maintain the sum of unrestricted cash and equivalents and revolving credit availability of at least $100 million through December 31, 2010, declining to $75 million through December 31, 2011, and declining to $50 million thereafter.The initial interest rate of the amended facility will be 6.5% over LIBOR, with a 2.0% floor on LIBOR. The interest rate on the facility will decline by 1.5%, to 5.0% over LIBOR once the principal on the term loan is reduced by approximately $200.0 million to $684.3 million or less. The interest rate will decline further by an additional 1.0%, to 4.0% over LIBOR as the principal on the term loan is reduced by an additional $200.0 million to $484.3 million or less.OPERATING RESULTS DISCUSSIONOffshoreDuring the second quarter 2009, Domestic Offshore revenues decreased to $37.0 million from $97.4 million during the corresponding quarter of 2008, largely as a result of weak demand and lower average dayrates stemming from a steep reduction in exploration and production spending. Second quarter 2009 average revenue per day per rig decreased to $52,365 from $60,445 in the second quarter 2008, while operating days declined to 706 from 1,612 in the same periods, respectively. Domestic Offshore recorded an operating loss of $20.2 million for the second quarter 2009 compared to operating income of $23.6 million in the second quarter 2008.International Offshore revenues increased by 37% to $101.8 million in the second quarter 2009 compared to $74.2 million for the same period of the previous year. The increase was due primarily to the commencement of operations on the Hercules 208, Hercules 261 and Hercules 262, which also helped to generate an increase in average revenue per day per rig to $129,133 from $115,556 in the same period a year ago. Utilization for International Offshore decreased slightly in the second quarter 2009 to 86.6% versus 87.7% in the second quarter 2008; however operating days increased to 788 from 642 in the same periods, respectively, as a result of the aforementioned incremental capacity. Average operating expense per day per rig decreased to $42,998 in the second quarter 2009 from $50,967 in the prior year period due to the warm stacking of the Hercules 156 and initial start-up costs incurred in the prior year related to our India operations. Including a $26.9 million non-cash impairment charge on Hercules 110, second quarter 2009 operating income was $17.2 million versus second quarter 2008 operating income of $27.4 million.InlandAs a result of extremely weak demand, the Company's fleet of inland barges was not active during the second quarter 2009. Inland generated revenue of $40.3 million in the second quarter 2008. Cost reduction efforts led to a $22.4 million reduction in operating costs to $8.9 million in the second quarter 2009 relative to the year-ago quarter. The segment recorded an operating loss of $17.4 million during the second quarter 2009 versus an operating loss of $2.9 million during the corresponding quarter of 2008.LiftboatsDomestic Liftboats recorded revenue of $18.9 million during the second quarter 2009 compared to $22.3 million in the second quarter 2008. As a result of increased shipyard time on larger vessels, the fleet mix in the second quarter of 2009 adversely impacted average revenue per vessel per day which declined to $7,727 in the second quarter 2009 from $9,030 in the same period of 2008. Utilization for the segment remained relatively flat at 63.6% in the second quarter 2009. The decline in revenue led to a reduction in operating income to $0.2 million for the second quarter 2009, from $3.0 million in the second quarter of the previous year.International Liftboats revenues increased slightly in the second quarter 2009 to $20.7 million compared to $20.3 million in the second quarter 2008. Average revenue per vessel per day increased to $20,644 in the second quarter 2009 from $15,255 in the year-ago quarter, partly resulting from the commencement of operations of the Amberjack in the Middle East. Partially offsetting the higher revenue per vessel per day was a reduction in utilization to 58.1% from 83.7% in the same respective periods as a result of lower capital spending by our customers. Operating income increased by $1.6 million in the second quarter 2009 to $8.4 million.Liquidity and CapitalizationAt June 30, 2009, the Company had cash and cash equivalents totaling $129.9 million and total debt of $969.2 million. In April 2009, the Company purchased $20.0 million in notional amount of the Company's 3.375% Convertible Senior Notes for $6.1 million in cash, and in June 2009 the Company acquired and retired $45.8 million in notional amount of its 3.375% Convertible Senior Notes in exchange for the issuance of 7,755,440 shares of common stock. Since September 30, 2008, the Company has retired approximately $171.7 million of notional amount of debt for total cash of $68.6 million and equity consideration of $34.0 million.NON-GAAPCertain non-GAAP performance measures and corresponding reconciliations to GAAP financial measures for the company have been provided for meaningful comparisons between current results and prior operating periods. Generally, a non-GAAP financial measure is a numerical measure of a company's performance, financial position, or cash flows that excludes or includes amounts that are not normally excluded or included in the most directly comparable measure calculated and presented in accordance with generally accepted accounting principles. In order to fully assess the financial operating results, management believes that the adjusted income from continuing operations and adjusted diluted earnings per share figures included in this release are appropriate measures of the continuing and normal operations of the Company. However, these measures should be considered in addition to, and not as a substitute, or superior to, income from continuing operations, earnings per share, operating income, cash flows from operations, or other measures of financial performance prepared in accordance with GAAP. The non-GAAP measures included in this press release have been reconciled to the nearest GAAP measure in the table that follows the financial statements.CONFERENCE CALL INFORMATIONHercules Offshore will conduct a conference call at 11:00 a.m. CDT on Thursday, July 23, 2009, to discuss its second quarter 2009 financial results. To participate in the call, dial 866-713-8564 or 617-597-5312 and reference access code 93692483 approximately 10 minutes prior to the start of the call. The conference call will also be broadcast live via the Internet at http://www.herculesoffshore.com.A replay of the conference call will be available by telephone on Thursday, July 23, 2009, beginning at 2:00 p.m. CDT , through Thursday, July 30, 2009. The phone number for the conference call replay is 888-286-8010 or 617-801-6888 with reference code 34066950. Additionally, the recorded conference call will be accessible through our Web site at http://www.herculesoffshore.com for 28 days after the conference call. ADDITIONAL INFORMATIONHeadquartered in Houston, Hercules Offshore, Inc. operates a fleet of 31 jackup rigs, 17 barge rigs, 65 liftboats, three submersible rigs, one platform rig and a fleet of marine support vessels, and has operations in ten different countries on four continents. The Company offers a range of services to oil and gas producers to meet their needs during drilling, well service, platform inspection, maintenance, and decommissioning operations in shallow waters.For more information, please visit our Web site at http://www.herculesoffshore.com.The news release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Such statements are subject to a number of risks, uncertainties and assumptions, including the factors described in Hercules Offshore's most recent periodic reports and other documents filed with the Securities and Exchange Commission, which are available free of charge at the SEC's Web site at http://www.sec.gov or the Company's Web site at http://www.herculesoffshore.com. Hercules Offshore cautions you that forward-looking statements are not guarantees of future performance and that actual results or developments may differ materially from those projected or implied in these statements. HERCULES OFFSHORE, INC. AND SUBSIDIARIES[More...]

Hercules Offshore, Inc. Announces Second-Quarter 2009 Earnings Release Date and Conference Call Information

Mon, 13 Jul 2009 20:26:00 GMT

Hercules Offshore, Inc. announced today that it has scheduled a conference call to discuss its second-quarter 2009 financial results on July 23, 2009. The call will take place at 11:00 a.m. CDT . The financial results are scheduled to be released publicly prior to market opening in the United States on that same day. To participate in the conference call by telephone, please call 10 minutes prior to the scheduled start time, one of the following telephone numbers:866.713.8564 617.597.5312 The access or confirmation code is 93692483.The conference call will also be broadcast live via the Internet. You may listen by accessing Hercules Offshore's Web site at http://www.herculesoffshore.com. You should connect to our Web site at least 15 minutes prior to the conference call to register, download and install any necessary audio software. If you are unable to participate, a replay of the conference call will be available on July 23, 2009, beginning at 2:00 p.m. CDT , through July 30, 2009. The phone number for the conference call replay is 888-286-8010 or internationally 617-801-6888. The access code is 34066950. Additionally, the recorded conference call will be accessible through our Web site at http://www.herculesoffshore.com for 28 days after the conference call.All individuals listening to the conference call or the replay are reminded that all conference call material is copyrighted by the Company and cannot be recorded or rebroadcast without the Company's expressed written consent.Headquartered in Houston, Hercules Offshore, Inc. operates a fleet of 31 jackup rigs, 17 barge rigs, 65 liftboats, three submersible rigs, one platform rig and a fleet of marine support vessels, and has operations in ten different countries on four continents. The company offers a range of services to oil and gas producers to meet their needs during drilling, well service, platform inspection, maintenance, and decommissioning operations in shallow waters.[More...]

Hercules Offshore Announces Exchange of $45.8 Million of Convertible Senior Notes for Common Stock and Sale of Two Jackup Rigs

Thu, 18 Jun 2009 14:20:00 GMT

Hercules Offshore, Inc. announced today that it entered into separate exchange agreements whereby it will acquire and retire $45.8 million aggregate principal amount of its 3.375% Convertible Senior Notes due 2038 in exchange for the issuance of 7,755,440 shares of its common stock and the payment of accrued interest. Approximately $95.9 million of the Convertible Senior Notes will remain outstanding after the closing of the exchange, which is expected to occur on June 23, 2009.[More...]

Hercules Offshore to Present at the UBS Global Oil & Gas Conference

Tue, 19 May 2009 11:56:00 GMT

Hercules Offshore, Inc. announced today that Stephen Butz, Vice President Finance and Treasurer, and Troy Carson, Vice President and Corporate Controller, will present at the UBS Global Oil & Gas Conference in Austin, TX, on Wednesday, May 20, 2009, at 10:25 a.m. EDT .[More...]

Hercules Offshore Announces First Quarter 2009 Results

Tue, 28 Apr 2009 11:50:00 GMT

John T. Rynd, Chief Executive Officer and President of Hercules Offshore stated, "As expected, we experienced a significant retrenchment in our sequential quarterly revenues during the first quarter due to deteriorating industry fundamentals.
While the results were disappointing, they were not unexpected; however, I am proud of how quickly our management team and employees moved to reduce our cost structure in such a meaningful manner as we entered this historic slowdown in our business.
Despite having additional international capacity coming on line during the last two quarters, our reported operating expenses declined by over $30 million in the first quarter 2009 relative to the third quarter 2008 when the financial crisis began in earnest.

[More...]

Hercules Offshore, Inc. Announces First-Quarter 2009 Earnings Release Date and Conference Call Information

Wed, 08 Apr 2009 16:34:00 GMT

Hercules Offshore, Inc. announced today that it has scheduled a conference call to discuss its first-quarter 2009 financial results on April 28, 2009. The call will take place at 10:00 a.m. CDT . The financial results are scheduled to be released publicly prior to market opening in the United States on that same day.[More...]

TheFortuneFinancial.Com Initializes Free Analyst Research on SE, CENX, HERO and SPWRA

Mon, 30 Mar 2009 15:30:00 GMT

TheFortuneFinancial.com provides the highest level of independent research and investment strategies with the sole purpose of consistently identifying stocks that provide the biggest return on investment for our subscribers.
Investors seeking free and unbiased analyst opinions on the companies mentioned in this release are encouraged to register at http://www.thefortunefinancial.com/index.php?id=78 for a free subscription to access these reports.
Today, we have asked some of the top analysts worldwide to give us their updated feedback regarding the current market activity and position on Spectra Energy Corp. (NYSE: SE), Century Aluminum Company (NASDAQ: CENX), Hercules Offshore Inc. (NASDAQ: HERO) and SunPower Corporation (NASDAQ: SPWRA).

[More...]

Hercules Offshore to Present at the Howard Weil 37th Annual Energy Conference

Wed, 18 Mar 2009 17:15:00 GMT

Hercules Offshore, Inc. announced today that John T. Rynd, Chief Executive Officer and President, will present at the Howard Weil 37th Annual Energy Conference in New Orleans, LA, on Wednesday, March 25, 2009, at 11:20 a.m. EDT .[More...]

Hercules Offshore Announces Fourth Quarter and Full Year 2008 Results

Tue, 10 Feb 2009 10:55:00 GMT

Hercules Offshore, Inc. today reported income from continuing operations of $37.4 million, or $0.42 per diluted share, on revenues of $313.5 million for the fourth quarter 2008, excluding the effects of non-recurring items, compared with income from continuing operations of $32.8 million, or $0.37 per diluted share, on revenues of $244.2 million for the fourth quarter 2007.[More...]