During Tuesday’s Afternoon trade, Shares of Standard Pacific Corp. (NYSE:SPF), lost -0.74% to $8.77.
Credit Suisse downgraded Standard Pacific Corp., to “neutral” from “outperform” on Tuesday.
The analyst firm maintained its price target of $9.50 for the homebuilder.
Credit Suisse said it recognizes the “planned reasoning” behind Standard Pacific’s acquisition of Ryland (RYL), and appreciates “administration’s track record of execution.” The firm’s analysts wrote, “We believe that integration risk in combination with a relatively full valuation based on our initial pro-forma projections for earnings and book value create a less favorable risk/reward profile.”
Standard Pacific Corp. operates as a builder of single-family attached and detached homes in the United States. It constructs homes for various homebuyers primarily move-up buyers in metropolitan markets in California, Florida, the Carolinas, Texas, Arizona, and Colorado.
Shares of Transocean Ltd. (NYSE:RIG), inclined 0.60% to $17.72, during its current trading session, as U.S. oil prices climbed Tuesday on strong demand for crude and the threat of a tropical storm along the Gulf Coast.
Light, sweet crude for July delivery, the U.S. benchmark, was up 28 cents, or 0.5%, at $59.80 a barrel on the New York Mercantile Exchange.
The global Brent crude contract for August eased five cents, or 0.1%, to $63.90 a barrel on the ICE Futures Europe exchange. WSJ Reports.
Transocean Ltd., together with its auxiliaries, provides offshore contract drilling services for oil and gas wells worldwide. The company primarily offers deepwater and harsh environment drilling services. As of February 17, 2015, it owned or had partial ownership interests in, and operated 71 mobile offshore drilling units that comprise of 44 high-specification floaters, 17 midwater floaters, and 10 high-specification jackups.
Finally, CVS Health Corporation (NYSE:CVS), gained 0.33%, and is now trading at $102.92.
CVS Health Corporation, declared that Helena Foulkes, executive vice president and president of CVS/pharmacy, will be speaking to investors at the Jefferies 2015 Global Consumer Conference on June 23, 2015, at about 10:30 a.m. EDT.
CVS Health Corporation, together with its auxiliaries, provides integrated pharmacy health care services in the United States. The company operates through Pharmacy Services and Retail Pharmacy segments.
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