During Monday’s current trade, FMC Technologies, Inc. (NYSE:FTI)’s shares decline -0.98% to $42.36.
FMC Technologies, Inc. (FTI) declared the completion of the formation of a joint venture (JV) – Forsys Subsea – wherein the oilfield equipment manufacturer and Technip SA have 50% ownership each. The JV started operations from Jun 1, 2015. By combining the technology and expertise of the two subsea industry leaders, the joint venture company will be capable of assisting the upstream energy players in efficiently getting their first oil at a minimum cost.
After using Forsys Subsea’s new technology, the upstream players can enhance their profits by lowering operating costs in this weak crude pricing environment. FMC Technologies added that the newly formed company has its headquarters in London and is predictable to have a headcount of 320.
FMC Technologies added that the newly formed company has its headquarters in London and is predictable to have a headcount of 320.
Houston, TX-based FMC Technologies is a leading manufacturer and supplier of technology solutions for the energy industry. The company presently carries a Zacks Rank #3 (Hold), implying that the stock will perform in line with the broader U.S. equity market over the next one to three months.
FMC Technologies, Inc. provides technology solutions for the energy industry worldwide. The company operates through Subsea Technologies, Surface Technologies, and Energy Infrastructure segments. The Subsea Technologies segment offers subsea systems for the offshore production of crude oil and natural gas; and well access and flow administration services, counting installation and workover tools, service technicians for installation assistance, and field support services.
Commscope Holding Company Inc (NASDAQ:COMM)‘s shares drop -0.14% to $31.08, during the current trading session Monday’s, hitting its highest level.
Commscope Holding Company Inc (COMM) has declared the sale of 20,000,000 shares of its common stock on an underwritten basis by an associate of The Carlyle Group. In addition, the underwriter will have an option to purchase up to 3,000,000 additional shares from Carlyle. CommScope will not receive any of the proceeds from the offering of shares by Carlyle. Closing of the offering is predictable to occur on or about June 16, 2015, subject to customary closing conditions.
J.P. Morgan Securities LLC is acting as the sole underwriter for the offering. J.P. Morgan Securities LLC proposes to offer the shares of common stock from time to time to purchasers directly or through agents, or through brokers in brokerage transactions on the Nasdaq Global Select Market, or to dealers in negotiated transactions or in a combination of such methods of sale, at a fixed price or prices, which may be changed, or at market prices prevailing at the time of sale, at prices related to such prevailing market prices or at negotiated prices.
CommScope Holding Company, Inc., together with its auxiliaries, provides connectivity and infrastructure solutions for wireless, business enterprise, and residential broadband networks worldwide. The company operates through three segments: Wireless, Enterprise, and Broadband.
In an afternoon trade, Lululemon Athletica inc. (NASDAQ:LULU)‘s shares surge 0.69% to $66.95.
Lululemon Athletica inc. (LULU) declared that the Company will be presenting at the Jefferies 2015 Consumer Conference held at the White Elephant in Nantucket, Massachusetts on Tuesday, June 23, 2015 at 9:00 am Eastern Daylight Time. Stuart Haselden, Chief Financial Officer will host the presentation.
lululemon athletica inc., together with its auxiliaries, designs, manufactures, and distributes athletic apparel and accessories for women, men, and female youth. It operates through two segments, Corporate-Owned Stores and Direct To Consumer. The company offers pants, shorts, tops, and jackets for healthy lifestyle activities and athletic pursuits, such as yoga, running, and general fitness; and dance-inspired apparel for female youth. It also provides fitness-related accessories, counting bags, socks, underwear, yoga mats, and water bottles.
Patterson-UTI Energy, Inc. (NASDAQ:PTEN), during its Monday’s current trading session -1.91% loss and closed at $20.56.
Patterson-UTI Energy, Inc. (PTEN) declared that its May 2015 drill rig count averaged at 123–122 rigs in the U.S. and 1 in Canada. This marks a steep decline from 133 rigs operational in April.
Patterson-UTI further added that for the two months ending May 31, its rig count averaged 126 in the U.S. and 2 in Canada.
The weak crude pricing environment has forced most drillers to cut back on the number of rigs. Also, fewer new contracts and declining day rates have made maintaining profitability a challenge. Retiring rigs is therefore an effective way to curb operating expenses.
Moreover, Patterson-UTI has been undertaking other measures like lowering capital spending to tackle the pricing woes. The company has declared a 29% cut in its 2015 spending.
Patterson-UTI is a major onshore contract driller in the U.S. with over 239 land-based rigs that operate primarily in the oil and natural gas producing regions of North America.
Patterson-UTI Energy, Inc., through its auxiliaries, provides onshore contract drilling services to major and independent oil and natural gas operators in the United States and Canada. The company operates through three segments: Contract Drilling, Pressure Pumping, and Oil and Natural Gas.
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