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Tag: FTI

  • Despite Large EPCI Contract share of TechnipFMC PLC (FTI) Plunged Deep After Hours

    On January 24, TechnipFMC PLC (FTI) announced a large EPCI contract by Petrobas for Búzios 6 field. Following the announcement, shares of the company continued their downtrend into the after hours.

    During the regular trading session, FTI suffered a mild loss of 0.62% at its closing price of $6.44. The stock fell by a further 6.83% in the after-hours to trade at $6.00 per share.

    The energy service company, TechnipFMC PLC was founded in 1884. Currently, its 450.7 million outstanding shares trade at a market capitalization of $2.92 billion.

    The EPCI Contract

    On Monday, the company announced being awarded a large subsea Engineering, Procurement, Constructions, and Installation (EPCI) contract by Petrobas. The contract has been awarded for FTI’s Búzios 6 field (module 7) which is a greenfield development in the pre-salt area.

    Moreover, flexible and rigid pipes, umbilicals, pipeline end terminals, rigid jumpers, umbilical termination assemblies, and a mooring system are included in the contract.

    Additionally, the company plans to manufacture flexible pipes, umbilicals, and subsea structures along with some of the rigid pipes in Brazil. Hence, minimizing transportation and installation-related carbon footprint. Also, the project will use the company’s established and qualified Brazilian supply chain.

    FTI’s Recent Developments

    On January 18, FTI and Magnora ASA announced that their partnership, Magnora Offshore Wind AS has been offered a new opportunity. The Crown Estate Scotland had offered Magnora Offshore to enter into an Options Agreement for the N3 area in ScotWind leasing round. Furthermore, the expected capacity of the planned development is 500 megawatts (MW) approx. Therefore, would be able to power over 600,000 homes in the United Kingdom.

    Magnora Offshore Wind combines the FTI’s offshore projects experience  & technologies with Magnora’s renewable & offshore project development expertise.

    Q3 2021 Earnings

    On October 20, 2021, the company announced its financial results for the third quarter of 2021.

    In the third quarter of 2021, the company had total revenue of $1,579.4 million.

    Additionally, FTI suffered from a loss of $40.6 million from continuing operations in Q3 of 2021. Resultantly, the loss from operations per diluted share was $0.09 in the quarter.

    Upcoming Earnings

    The company is set to declare its financial results for Q4 2021, after the close of the NYSE on February 23, 2022. In addition, FTI will host the earnings conference call on February 24, 2022.

  • Early Morning Vibes: Don’t Miss On These 4 Growth Stocks

    Early Morning Vibes: Don’t Miss On These 4 Growth Stocks

    In the recent times, Aviation stocks have suffered a serious crash. Covid-19 shut down the entire business. But US aviation stocks, such as United Airlines and Delta Airlines, are on the rise again. European aviation stocks are also doing well. Air France-KLM ended 2020 with a loss of €7.1 billion, but the share is rising again. And one of the best airline stocks is Ryanair. The Irish airline’s share is already above pre-corona levels. The optimism of investors must be sought in the rollout of the vaccinations and also the introduction of a kind of vaccine passport, which apparently more and more politicians are in favor.If vaccinations gain speed and everyone who wants to go on holiday by plane must be able to present proof of vaccination, more people will be triggered to actually get vaccinated.

    For Bank of America, an oil price of $100 is realistic within this and a few years. The drivers would be better fundamentals and monetary policy. Futures prices in the future are priced considerably more dearly and open interest has also risen sharply for options with a strike $100. Open interest has increased from 500 to 3,950 option contracts in one week.The rising open interest indicates an increasing number of open option contracts, a significant increase and interest from market participants. In the meantime, there are voices that OPEC + must increase production to meet (future) demand.

    It looks like Warren Buffett has been busy last year. On the one hand, Berkshire Hathaway has more than double the volume (purchases and sales) compared to 2019. This will likely have been mainly due to sector rotation, as Warren Buffett is known for its long-term investing. Unless he has suddenly become a day trader. But let’s not assume this. Berkshire Hathaway further repurchased $24.7 billion of its own shares.In the newsletter sent out by Berkshire Hathaway this weekend, it is also noticeable that the amount of cash has increased quarter after quarter in recent years. In Q4 2020, Berkshire Hathaway was on a cash mountain of $138.3 billion. In 2020, the share of financial institutions in the holding decreased their portfolio from 41% to 24%. Warren Buffett and his partner Charly Munger appear to be seeing something in the energy and telecommunications sector. A large interest was taken in Chevron and Verizon Communications.

    Today Top Movers

    NIO Limited (NIO) stock soared 5.9% to $48.48 in the pre-market trading.

    SOS Limited (NYSE: SOS) shares are trading up 28.3% at $6.12 at the time of writing.

    electroCore Inc. (ECOR) grew over 58.06% at $3.43 in pre-market trading today after declaring an exclusive distribution agreement with Medistar following regulatory approval in Australia.

    Socket Mobile Inc. (SCKT), a Computer Hardware company, rose about 42.72% at $15.0 in pre-market trading Monday. The firm today reported it has licensed SpringCard SAS core contactless technology.

    Top Upgrades & Downgrades

    JP Morgan turned bullish on Plug Power Inc. (PLUG), upgrading the stock to “Overweight” and assigning a $65.0 price target, representing a potential upside of 34.35% from Friday’s close. 

    CME Group Inc. (CME) has won the favor of Keefe Bruyette’s equity research team. The firm upgraded the shares from Underperform to Market Perform and moved their price target to $197. 

    Spirit AeroSystems Holdings Inc. (SPR) received an upgrade from analysts at Morgan Stanley, who also set their one-year price target on the stock to $50. They changed their rating on SPR to Overweight from Equal Weight in a recently issued research note. 

    Earlier Monday JP Morgan reduced its rating on Agios Pharmaceuticals Inc. (AGIO) stock to Neutral from Overweight and assigned the price target to $54. 

    Morgan Stanley analysts reduced their investment ratings, saying in research reports covered by the media that it’s rating for TechnipFMC plc (FTI) has been changed to Equal-Weight from Overweight and the new price target is set at $8.8. 

    Analysts at RBC Capital downgraded Pactiv Evergreen Inc. (PTVE)’s stock to Sector Perform from Outperform Monday.

    Latest Insider Activity

    ContextLogic Inc. (WISH) Chief Accounting Officer Just Brett announced the sale of shares taking place on Feb 24 at $19.65 for some 36,901 shares. The total came to more than $0.73 million. 

    Walmart Inc. (WMT) Director WALTON S ROBSON sold on Feb 26 a total of 356,175,368 shares at $130.64 on average. The insider’s sale generated proceeds of almost $92.81 million. 

    Macy’s Inc. (M) Director VARGA PAUL C declared the purchase of shares taking place on Feb 26 at $15.25 for some 13,115 shares. The transaction amount was around $0.2 million. 

    Coeur Mining Inc. (CDE) Chairman (non-executive) MELLOR ROBERT E bought on Feb 24 a total 185,233 shares at $10.53 on average. The purchase cost the insider an estimated $10,530.

    Important Earnings

    Top US earnings releases scheduled for today include Workhorse Group Inc. (NASDAQ: WKHS). It will announce its Dec 2020 financial results. The company is expected to report earnings of -$0.13 per share from revenues of $1.32M in the three-month period. 

    Analysts expect Perrigo Company plc (PRGO) to report a net income (adjusted) of $1.00 per share when the company releases its quarterly results shortly. Revenue for the fiscal quarter ended Dec 2020 is predicted to come in at $1.32B. 

    Inovio Pharmaceuticals, Inc. (INO), due to announce earnings after the market closes today, is expected to report earnings of -$0.22 per share from revenues of $1.11M recently concluded in a three-month period.

  • Early Morning Vibes: Don’t Miss On These 4 Growth Stocks

    Early Morning Vibes: Don’t Miss On These 4 Growth Stocks

    On February 17, American stock exchanges closed in different directions. The S&P 500 index dropped by a purely symbolic 0.03%, to 3931 points, the NASDAQ lost 0.58%, and the Dow Jones added 0.29%. Retail sales rose sharply in January thanks to direct payments to the public, which supported the bullish sentiment. The market saw a capital flow from growth stocks to value stocks, which made the IT sector an outsider, losing 1.03%. The energy sector remained among the leaders and grew by 1.45% amid rising oil prices.

    Company news

    QuantumScape (QS: + 31.4%) announced a breakthrough in the development of next generation solid state batteries.

    Popular website builder Wix.com’s quarterly results (WIX: + 8.1%) exceeded expectations, as did the company’s forecasts for 2021.

    Shopify’s (SHOP: -3.3%) revenue and operating numbers were above consensus, but the stock is up more than 25% YTD, so investors have taken profits.

    Today, global stock exchanges are showing mostly negative dynamics. The published minutes of the FRS meeting, held on January 26-27, fully coincided with the expectations of investors. The meeting participants did not discuss the reduction of the asset purchase program, since macroeconomic indicators do not allow even considering such a possibility. The factor of ultra-soft monetary policy has been in the field of view of investors for a long time, so the degree of its influence is gradually decreasing.

    Note that positive data on retail sales in January (+ 5.3% mom) confirmed the effectiveness of fiscal stimulation by direct payments to the population. The stimulus package currently under discussion includes direct payments of $ 1,400, more than double the previous subsidy. In this regard, a similar increase in consumer spending can be expected in April and May.

    In the short term, a correction in the S&P 500 index is not ruled out, since a sharp rise in bond yields and the prospects for an early opening of the economy may lead to some capital outflow from the US tech sector. Cyclical sectors can look stronger than the market.

    The data on the issued building permits for January will be published today. A slight decrease is expected compared to the previous month, when the highest level in more than 10 years was recorded (forecast: 1.678 million, previous value: 1.704 million). The real estate market remains in excellent shape, so a slight slowdown in construction growth will only protect it from overheating.

    The Freedom Finance Sentiment Index remains at 78 out of 100. The indicator reflects the hope of market participants for a recovery in the global economy in 2021. Concerns about the negative impact of the coronavirus pandemic are gradually diminishing thanks to the prospects for mass vaccinations.

    Technically, the S&P 500 is still in an uptrend. The upper limit of this trend still limits the growth potential of the broad market index. On the eve of the “bulls” showed weakness, which, however, turned out to be short-lived. In the short term, a correction or consolidation is likely, as the RSI indicator is forming a bearish divergence near the overbought zone.

    Today Top Movers

    Tilray Inc (TLRY) stock ascended 8.19% at $34.09 in the pre-market trading today after the company declared financial results for the full fiscal year and fourth quarter ended December 31, 2020.

    Avinger Inc (AVGR) gained over 58.58% at $2.68 in pre-market ‎trading on Thursday.‎‎ Avinger, Inc. to be issued US Patent No. 10,932,670 by the US Patent and Trademark Office on 3/2, titled: OPTICAL PRESSURE SENSOR ASSEMBLY.

    Onconova Therapeutics Inc (ONTX) grew over 15.23% at $1.74 in pre-market trading ‎today following the closing of a $28.75 million public offering of common stock.

    Luokung Technology Corp (LKCO) stock moved up 14.02 percent to $2.52 in the pre-market ‎trading. The firm recently declared a $100 million registered direct offering priced at the market under Nasdaq Rules.‎

    Top Upgrades & Downgrades

    Berenberg turned bullish on STMicroelectronics N.V. (STM), upgrading the stock to “Hold”. 

    Mohawk Industries Inc. (MHK) has won the favor of Credit Suisse’s equity research team. The firm upgraded the shares from Underperform to Neutral and moved their price target to $180. 

    Wells Fargo & Company (WFC) received an upgrade from analysts at JPMorgan, who also set their one-year price target on the stock to $37. They changed their rating on WFC to Neutral from Underweight in a recently issued research note. 

    Earlier Thursday Kepler Cheuvreux reduced its rating on TechnipFMC plc (FTI) stock to Hold from Buy and assigned the price target to 8.21. 

    Credit Suisse analysts reduced their investment ratings, saying in research reports covered by the media that it’s rating for Noble Midstream Partners LP (NBLX) has been changed to Neutral from Outperform and the new price target is set at $13.5. 

    Analysts at Baird downgraded Kratos Defense & Security Solutions Inc. (KTOS)’s stock to Neutral from Outperform Thursday.

    Latest Insider Activity

    Freeport-McMoRan Inc. (FCX) VP Controller & Financial Rptg WHITMIRE C DONALD JR announced the sale of shares taking place on Feb 12 at $30.84 for some 48,240 shares. The total came to more than $1.49 million. 

    Marvell Technology Group Ltd. (MRVL) CEO and President MURPHY MATTHEW J sold on Feb 16 a total of 282,328 shares at $53.20 on average. The insider’s sale generated proceeds of almost $0.4 million. 

    New York Community Bancorp, Inc. (NYCB) Director Rosenfeld Ronald A. declared the purchase of shares taking place on Feb 09 at $10.63 for some 5,000 shares. The transaction amount was around $53,169. 

    CVS Health Corporation (CVS) Director LUDWIG EDWARD J bought on Feb 17 a total 14,334 shares at $72.00 on average. The purchase cost the insider an estimated $216,000.

    Important Earnings

    Top US earnings releases scheduled for today include Barrick Gold Corporation (NYSE: GOLD). It will announce its Dec 2020 financial results. The company is expected to report earnings of $0.31 per share from revenues of $3.27B in the three-month period. 

    Analysts expect Walmart Inc. (NYSE: WMT) to report a net income (adjusted) of $1.51 per share when the company releases its quarterly results shortly. Revenue for the fiscal quarter ended Jan 2021 is predicted to come in at $148.47B. 

    Host Hotels & Resorts Inc. (HST), due to announce earnings after the market closes today, is expected to report earnings of -$0.42 per share from revenues of $243.28M recently concluded three-month period.

  • 15 Key Players from OIL Sector

    15 Key Players from OIL Sector

    For the first time since March, Brent crude topped $50 a barrel last week, a landmark for an oil market that has been working its way back out of a severe recession for months.

    Things are not quite back to usual, but there are gaining traction optimistic signs. The immense fuel surplus that accrued on anything from tiny barges to gigantic supertankers is continuously being drained.

    While the coronavirus pandemic is stronger than ever in the U.S., as the second round of lockdowns eases, demand in Europe is roaring back, and Asia continues to take in big volumes of oil.

    Cabot Oil & Gas Corporation (NYSE:COG) shares were trading down -3.68% at $17.00 at the time of writing on Friday.

    Cabot Oil & Gas Corporation (NYSE:COG) share price went from a low point around $13.06 to briefly over $22.67 in past 52 weeks, though shares have since pulled back to $17.00. COG market cap has remained high, hitting $7.03B at the time of writing, giving it price-to-sales ratio of more than 4.

    If we look at the recent analyst rating COG, Siebert Williams Shank upgraded coverage on COG shares with a Buy rating and a $22.16 price target, which implies room for 5.16% upside momentum this year.

    Tellurian Inc. (TELL) last closed at $1.30, in a 52-week range of $0.67 to $8.69. The company on November 30, 2020 announced the appointments of Octávio Simões as President and Chief Executive Officer (CEO), and Jonathan Gross and Jean Abiteboul as new independent Board members.

    Cenovus Energy Inc. (CVE) stock soar by 0.16% to $6.21. On December 2, 2020, the company and Headwater Exploration Inc. (TSX:HWX) declared the closing of the acquisition by Headwater of Cenovus’s assets in the Marten Hills area of Alberta. The most recent rating by Morgan Stanley, on December 11, 2020, is at an Equal-weight.

    Suncor Energy Inc. (NYSE:SU) Shares headed falling, lower as much as -1.01%. The firm on December 1, 2020 released its 2021 corporate guidance. The most recent rating by CIBC, on October 26, 2020, is at a Sector outperform.

    PBF Energy Inc. (NYSE:PBF) fall -7.36% after losing more than -$0.65 on Friday.

    Devon Energy Corporation (DVN) last closed at $16.16, in a 52-week range of $4.60 to $26.42. On December 2, 2020, Devon Energy revealed that its board of directors has declared a quarterly cash dividend on Devon’s common stock for the first quarter of 2021. Analysts have a consensus price target of $17.07.

    Plains All American Pipeline L.P. (PAA) stock drop by -1.13% to $8.76. Plains All American Pipeline L.P. (PAA) and Plains GP Holdings reported on December 2, 2020, transfer of stock exchange listings to Nasdaq. The most recent rating by Morgan Stanley, on September 25, 2020, is at an Overweight.

    Baker Hughes Company (NYSE:BKR) Shares headed falling, lower as much as -1.95%. On December 8. 2020, Aramco and Baker Hughes announced the commencement of construction on non-metallics joint venture in Saudi Arabia. The most recent rating by HSBC Securities, on December 10, 2020, is at a Hold.

    EnLink Midstream LLC (NYSE:ENLC) fall -6.50% after losing more than -$0.26 on Friday.

    Antero Midstream Corporation (AM) last closed at $8.42, in a 52-week range of $1.69 to $8.43. Analysts have a consensus price target of $6.45.

    TechnipFMC plc (FTI) stock drop by -3.59% to $9.67. The most recent rating by HSBC Securities, on December 10, 2020, is at a Hold.

    Amplify Energy Corp. (NYSE:AMPY) Shares headed falling, lower as much as -20.67% after declaration of pricing of secondary public offering of common stock for selling stockholders. The most recent rating by ROTH Capital, on November 22, 2019, is at a Buy.

    National Oilwell Varco Inc. (NYSE:NOV) fall -2.32% after losing more than -$0.34 on Friday.

    Equinor ASA (EQNR) last closed at $16.87, in a 52-week range of $8.41 to $21.04. On behalf of Equinor, DNB has on 10 December 2020 purchased 734,253 shares for use in the group’s Share saving plan. Analysts have a consensus price target of $19.26.

    Ovintiv Inc. (OVV) stock soar by 0.92% to $15.38. The firm on November 19, 2020, declared that Meg A. Gentle has been named as an independent member of its board of directors, effective December 16, 2020. The most recent rating by CIBC, on October 26, 2020, is at a Sector underperform.

  • Pre-Market Cues: 29 Stocks Roaring for Change On December 7th

    Pre-Market Cues: 29 Stocks Roaring for Change On December 7th

    HL Acquisitions Corp. (HCCH) is up more than 5.38% at $25.25 in pre-market hours Monday December 07, 2020. The firm recently reported that that the shareholders of HL have approved the business combination between HL and Fusion Fuel at an annual general meeting of shareholders. The stock had jumped over 27.65% to $23.96 in the last trading session.
    China HGS Real Estate Inc. (NASDAQ: HGSH) shares are trading down -17.83% at $2.12 at the time of writing. Company’s 52-week ranged between $0.48 to $4.40.
    Cinedigm Corp. (CIDM) grew over 4.07% at $0.7269 in pre-market trading today after announcing eight additional linear streaming channels are now available on Rad’s fast-growing global streaming platform.
    Before the trading started on December 07, 2020, PDS Biotechnology Corporation (PDSB) is down -7.49% to reach $2.47. It has been trading in a 52-week range of $0.62 to $4.98.
    Pioneer Power Solutions Inc. (PPSI), a Electrical Equipment & Parts company, dropped about -6.59% at $4.11 in pre-market trading Monday. The company lately declared that it has finalized a conclusive settlement with Myers Power Products, Inc., a specialty electrical products manufacturer.
    Castor Maritime Inc. (NASDAQ: CTRM) shares are trading down -3.25% at $0.1935 at the time of writing. Company’s 52-week ranged between $0.11 to $2.60.
    RMG Acquisition Corp. (RMG) is down more than -5.62% at $17.31 in pre-market hours Monday December 07, 2020. The firm recently announced the nomination of Paul Williams to serve on the board of directors of Romeo Power upon consummation of merger. The stock had jumped over 19.95% to $18.34 in the last trading session.
    Before the trading started on December 07, 2020, Energy Fuels Inc. (UUUU) is up 6.2% to reach $2.74. It has been trading in a 52-week range of $0.78 to $2.42.
    Safe-T Group Ltd (SFET) stock soared 20.49% to $1.47 in the pre-market trading. The technology firm recently declared that it will hold a virtual event – webinar with Fujitsu, a global information and communication technology (ICT) company, on December 10, 2020.
    Before the trading started on December 07, 2020, ENGlobal Corporation (ENG) is up 4.42% to reach $1.89. It has been trading in a 52-week range of $0.46 to $4.32.
    Foresight Autonomous Holdings Ltd. (NASDAQ: FRSX) shares are trading down -6.96% at $1.47 at the time of writing after reporting that it will provide its QuadSight® multispectral vision solution, and is expected to receive approximately one million USD from the European Commission through the Horizon 2020 framework program. Company’s 52-week ranged between $0.46 to $1.95. Analysts have a consensus price target of $16.
    Hennessy Capital Acquisition Corp. IV (HCAC) is up more than 16.13% at $15.62 in pre-market hours Monday December 07, 2020. The stock had jumped over 10.52% to $13.45 in the last trading session.
    Sesen Bio Inc. (SESN) is up more than 4.58% at $1.6 in pre-market hours Monday December 07, 2020. The firm recently revealed partnership with Hikma Pharmaceuticals for the commercialization of Vicineum™ in the Middle East and North Africa. The stock had jumped over 15.04% to $1.53 in the last trading session.
    Before the trading started on December 07, 2020, Apache Corporation (APA) is down -2.5% to reach $14.8. It has been trading in a 52-week range of $3.80 to $33.77.
    BlackBerry Limited (NYSE: BB) shares are trading down -2.7% at $8.29 at the time of writing after declaring that it will report results for the third quarter of fiscal year 2021 at 5:30 p.m. ET on Thursday, December 17, 2020. Company’s 52-week ranged between $2.70 to $9.69.
    TechnipFMC plc (NYSE: FTI) shares are trading down -3.41% at $9.92 at the time of writing. Company’s 52-week ranged between $4.49 to $21.84.
    Nesco Holdings Inc. (NSCO) tumbled over -12.41% at $5.86 in pre-market trading today as the firm revealed that it has entered into a definitive agreement to acquire Custom Truck One Source (“CTOS”) for a purchase price of $1.475 billion.
    Penn Virginia Corporation (PVAC) is down more than -2.05% at $9.55 in pre-market hours Monday December 07, 2020. The stock had jumped over 7.50% to $9.75 in the last trading session.
    Uranium Energy Corp. (UEC) stock soared 11.57% to $1.35 in the pre-market trading after reporting that the U.S. Senate Committee on Environment and Public Works (EPW) has approved a bipartisan bill entitled the American Nuclear Infrastructure Act (ANIA). The most recent rating by Canaccord Genuity, on October 14, 2020, is a Speculative buy.
    Lyft Inc. (NASDAQ: LYFT) shares are trading up 2.67% at $47.33 at the time of writing. Company’s 52-week ranged between $14.56 to $54.50.
    Verb Technology Company Inc. (VERB) grew over 2.46% at $1.25 in pre-market trading today. The firm lately revealed that it will deliver a presentation at the Benzinga Global Small Cap Conference being held December 8-9, 2020.
    TransEnterix Inc. (TRXC) is down more than -7.22% at $0.47 in pre-market hours Monday December 07, 2020. The stock had jumped over 6.63% to $0.51 in the last trading session.
    FuelCell Energy Inc. (FCEL), a Electrical Equipment & Parts company, rose about 3.77% at $8.25 in pre-market trading Monday following the closing of public offering of 39,696,320 shares of common stock.
    Before the trading started on December 07, 2020, Senseonics Holdings Inc. (SENS) is up 9.28% to reach $0.4699. It has been trading in a 52-week range of $0.35 to $1.78.
    Before the trading started on December 07, 2020, The Macerich Company (MAC) is down -2.44% to reach $11.6 after declaring that the Company has earned Bureau Veritas SafeGuard™ Hygiene Excellence and Safety Certification for key properties. It has been trading in a 52-week range of $4.56 to $26.20.
    Southwestern Energy Company (SWN) stock plunged -2.33% to $2.93 in the pre-market trading. The most recent rating by UBS, on December 01, 2020, is a Sell.
    Gamida Cell Ltd. (GMDA) is up more than 7.6% at $7.5 in pre-market hours Monday December 07, 2020 after reporting in an oral presentation the updated and expanded results from a Phase 1 clinical study of GDA-201. The stock had jumped over 5.61% to $6.97 in the last trading session.
    Sintx Technologies Inc. (NASDAQ: SINT) shares are trading up 2.45% at $2.09 at the time of writing. Company’s 52-week ranged between $0.28 to $3.30.
    Matinas BioPharma Holdings Inc. (MTNB) grew over 12.84% at $1.23 in pre-market trading today after announcing collaboration with the National Institute of Allergy and Infectious Diseases to evaluate oral formulations of Gilead’s antiviral remdesivir utilizing Matinas’ LNC Platform delivery technology.