reports
SLB OneSubsea and Subsea7 Sign Long-Term Strategic Collaboration Agree...
HOUSTON--(BUSINESS WIRE)-- SLB (NYSE: SLB) has announced the signing of a new long-term strategic collaboration agreement between Equinor ASA and the Subsea Integration Alliance (which comprises OneSubsea™ and Subsea7). The agreement paves the way for exploratory work to begin on two projects: the Wisting field offshore Norway and Bay Du Nord, off Newfoundland and Labrador, Canada. This press release features multimedia. View the full release here: The strategic collaboration agreement enables early information sharing, technology innovation and other collaborative benefits critical to unlock...
New Mountain Finance Corporation Announces Financial Results for the Q...
NEW YORK--(BUSINESS WIRE)-- New Mountain Finance Corporation (NASDAQ: NMFC) (“New Mountain,” “New Mountain Finance” or the “Company”) today announced its financial results for the quarter ended March 31, 2024. First Quarter Highlights1 Net investment income of $37.3 million, or $0.36 per weighted average share Net asset value of $12.77 per share compared to $12.87 per share as of December 31, 2023. The 0.8% decline is driven by stable core credit performance, offset by a decrease in value in one of the Company's equity positions Internal risk rating improved with 96.5% of the portfo...
- Benoit Valleaux
- Bruno Cavalier
- Steven Gould
- Thomas Zlowodzki
ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 04/22/2024
EPS growth prospects are brighter in the US than in Europe, which is justified given the differential in the growth and inflation outlook between the two regions. However, the adjustment that has taken place on EPS in Europe is a positive factor: we are now "at the price" ahead of the cyclical recovery that is taking shape for the rest of 2024. Sector-wise, the ongoing upward revision of EPS in travel & leisure, banks and media is expected to continue apace and provide support for sec...
GALP GALP ENERGIA SGPS SA CLASS B
SLB.N SCHLUMBERGER NV
MC LVMH MOET HENNESSY LOUIS VUITTON SE
UHR SWATCH GROUP LTD. BEARER
RMS HERMES INTERNATIONAL SCA
SW SODEXO SA
EL ESSILORLUXOTTICA SA
BRBY BURBERRY GROUP PLC
KER KERING SA
ALO ALSTOM SA
01913 PRADA S.P.A.
ASM ASM INTERNATIONAL N.V.
MONC MONCLER SPA
BC BRUNELLO CUCINELLI S.P.A.
CFR COMPAGNIE FINANCIERE RICHEMONT SA
HFG HELLOFRESH SE
KBX KNORR-BREMSE AG
- Benoit Valleaux
- Bruno Cavalier
- Steven Gould
- Thomas Zlowodzki
ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 22/04/2024
Les perspectives de croissance des BPA sont supérieures aux Etats-Unis qu’en Europe, ce qui est justifié étant donné le différentiel de perspectives de croissance et d’inflation entre les deux zones. L’ajustement qui a eu lieu sur les BPA en Europe est toutefois un facteur positif : nous sommes désormais « au prix » avant la reprise cyclique qui se dessine pour la suite de 2024. Sectoriellement, la révision à la hausse en cours des BPA sur le Travel & Leisure, les banques et les Media...
GALP GALP ENERGIA SGPS SA CLASS B
SLB.N SCHLUMBERGER NV
MC LVMH MOET HENNESSY LOUIS VUITTON SE
UHR SWATCH GROUP LTD. BEARER
RMS HERMES INTERNATIONAL SCA
SW SODEXO SA
EL ESSILORLUXOTTICA SA
BRBY BURBERRY GROUP PLC
KER KERING SA
ALO ALSTOM SA
01913 PRADA S.P.A.
ASM ASM INTERNATIONAL N.V.
MONC MONCLER SPA
BC BRUNELLO CUCINELLI S.P.A.
CFR COMPAGNIE FINANCIERE RICHEMONT SA
HFG HELLOFRESH SE
KBX KNORR-BREMSE AG
- Baptiste Lebacq
SLB : Confidence on the sustainability of the cycle = cash returns
>Outperform recommendation confirmed and target price unchanged at $ 70 - We reiterate our Outperform rating as well as our target price of $ 70 (based on an 12-mth fwd P/E multiple of 16x). In light of the publication, we have marginally adjusted our forecasts in order to factor in the acquisition of ChampionX (paid in SLB shares and just factored in for H2 2024). The deal is slightly dilutive for the first year, although it becomes accretive as of 2025.SLB wil...
- Baptiste Lebacq
SLB : Sérénité sur la pérennité du cycle = retour de cash
>Opinion Surperformance maintenue et OC inchangé à 70 $ - Nous réitérons notre recommandation Surperformance ainsi que notre OC de 70 $ (basé sur un multiple de PE 12 mois fwd de 16x). Post publication, nous avons marginalement ajusté nos attentes afin d’intégrer l’acquisition de ChampionX (payé en action SLB, nous l’intégrons sur le S2 24 uniquement). L’opération est légèrement dilutive la première année, cependant elle devient relutive dès 2025.SLB retournera ...
SLB Announces First-Quarter 2024 Results, Targeting to Return $7 Billi...
KUALA LUMPUR, Malaysia--(BUSINESS WIRE)-- SLB (NYSE: SLB) today announced results for the first-quarter 2024. This press release features multimedia. View the full release here: The exterior of the SLB headquarters in Houston, Texas (Photo: Business Wire) First-Quarter Results (Stated in millions, except per share amounts) Three Months Ended Change Mar. 31,2024 Dec. 31,2023 Mar. 31,2023 Sequential Year-on-year Revenue $8,707 $8,990 $7,736 -3% 13% Income before taxes - GAAP basis $1,357 $1,433 $1,161 ...
Kandi Technologies Group, Inc. Completes Redomicile Merger
Kandi Technologies Group, Inc. Completes Redomicile Merger Jinhua, China, April 16, 2024 (GLOBE NEWSWIRE) -- Kandi Technologies Group, Inc. (NASDAQ GS: KNDI) (“Kandi” or the “Company”), a leading distributor of all-electric personal transportation and utility vehicles, today announced that the reincorporation merger to redomicile the Company as a British Virgin Islands company (the “Merger”) has been completed on April 16, 2024. Pursuant to the Merger, each outstanding share of the common stock of the Company is converted into the right to receive one ordinary share of Kandi Technologie...
SLB Awarded Three Completion Contracts for Petrobras’ Buzios Field
HOUSTON--(BUSINESS WIRE)-- SLB (NYSE: SLB) has been awarded three contracts by Petrobras (NYSE: PBR) for completion hardware and services for up to 35 subsea wells in the development of Petrobras’ offshore Buzios Wave II oilfield. The scope of the contract includes SLB’s full bore electric interval control valves and electric subsurface safety valves. The award is a catalyst toward full production system electrification for Petrobras, improving production availability via more reliable completions. This press release features multimedia. View the full release here: Much of the technology to b...
- Baptiste Lebacq
- Jean-François Granjon
ODDO : What if the water deficit undermined energy security?
>Alberta: drought in Canada’s leading oil province - The province of Alberta (Canada) is in a situation of water stress for the fourth consecutive year. On a scale of 1 to 5, the region is currently at stage 4 and if stage 5 were reached the government would be obliged to use directives in order to manage the situation. This province generates significant revenues from the oil and gas industry (around 15% of GDP) and agriculture (wheat, beef, etc.) which are extr...
- Baptiste Lebacq
- Jean-François Granjon
ODDO : Et si le déficit en eau mettait à mal l’Energy Security ?
>L’Alberta : sécheresse dans la principale province pétrolière canadienne - La province de l’Alberta (Canada) fait face à un stress hydrique pour la 4ème année consécutive. Sur une échelle de 1 à 5, la région est actuellement au stade 4 et si le stade 5 était atteint, le gouvernement serait alors amené à gérer par des directives. Cette province bénéficie de revenus importants en provenance de l’industrie du Oil&Gas (environ 15% du PIB) et de l’agriculture (blé, b...
Moody's says all-stock acquisition of ChampionX will add to SLB's posi...
Moody's Ratings (Moody's) said Schlumberger Ltd's (SLB) all-stock acquisition of ChampionX Corporation (ChampionX) is credit positive. It will boost SLB's competitive position in the margin and free cash flow accretive production chemicals technologies service line and will also complement the compa...
SLB Announces Agreement to Acquire ChampionX in an All-Stock Transacti...
HOUSTON--(BUSINESS WIRE)-- SLB (NYSE: SLB) and ChampionX Corporation (NASDAQ: CHX) today announced a definitive agreement for SLB to purchase ChampionX in an all-stock transaction. The agreement was unanimously approved by the ChampionX board of directors. This press release features multimedia. View the full release here: An SLB employee at work in one of the global technology company's production chemistry labs (Photo: Business Wire) Under the terms of the agreement, ChampionX shareholders will receive 0.735 shares of SLB common stock in exchange for each ChampionX share. At the closing of ...
SLB Announces Agreement to Acquire Majority Ownership in Aker Carbon C...
HOUSTON--(BUSINESS WIRE)-- SLB (NYSE: SLB) today announced an agreement to combine its carbon capture business with Aker Carbon Capture (ACC) to support accelerated industrial decarbonization at scale. Bringing together complementary technology portfolios, leading process design expertise and an established project delivery platform, the combination will leverage ACC’s commercial carbon capture product offering and SLB’s new technology developments and industrialization capability. It will create a vehicle for accelerating the introduction of disruptive early-stage technology into the global...
SLB Announces First-Quarter 2024 Results Conference Call
HOUSTON--(BUSINESS WIRE)-- SLB (NYSE:SLB) will hold a conference call on April 19, 2024 to discuss the results for the first quarter ending March 31, 2024. The conference call is scheduled to begin at 9:30 am US Eastern time and a press release regarding the results will be issued at 7:00 am US Eastern time. To access the conference call, listeners should contact the Conference Call Operator at +1 (844) 721-7241 within North America or +1 (409) 207-6955 outside of North America approximately 10 minutes prior to the start of the call and the access code is 8858313. A webcast of the confer...
Moody's downgrades Calumet Specialty Products' CFR to Caa1; negative o...
Moody's Ratings ("Moody's") downgraded the ratings of Calumet Specialty Products Partners, L.P.'s (Calumet), including the Corporate Family Rating (CFR) to Caa1 from B3, Probability of Default Rating (PDR) to Caa1-PD from B3-PD and ratings on the senior unsecured notes to Caa2 from Caa1 and changed ...
- Baptiste Lebacq
- Jean-François Granjon
ODDO : Shareholder returns gearing up
>Supercycle and shareholder returns in the oil & gas sector - After several challenging years in which a number of players were in survival mode, the start of a supercycle signals an acceleration in free cash flow generation for certain players and thus in shareholder returns. This is particularly justified as the groups boast strengthened financial situations as well as good visibility thanks to their backlogs. Sector companies are not yet facing a problem of ab...
- Baptiste Lebacq
- Jean-François Granjon
ODDO : Des retours aux actionnaires qui s’enclenchent
>Supercycle et retours à l’actionnaire dans le secteur du Oil&Gas - Après plusieurs années difficiles dans un mode « survival » pour de nombreux acteurs, l’entrée dans un mouvement de supercycle est pour certains acteurs synonymes d’accélération de la génération de free cash-flow et in-extenso du retour aux actionnaires. Ceci est d’autant plus justifié que les groupes disposent d’une situation financière renforcée ainsi que d’une bonne visibilité via leurs carnets d...
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