Hottest Stocks Now: SeaDrill Limited, (NYSE:SDRL), Computer Sciences Corporation, (NYSE:CSC), Ericsson, (NASDAQ:ERIC)

Today, U.S. Markets are closed for Thanksgiving Day.

On Wednesday, Shares of SeaDrill Limited (NYSE:SDRL), lost -1.70% to $6.37.

Seadrill Limited, Declares Third Quarter 2015 Results.

Highlights

  • Revenue of $985 million
  • EBITDA1 of US$546 million
  • 92% economic utilization2
  • Not Taking Into Account non-recurring items and non-cash mark to market movements on derivatives, Net Income3 of $136 million and earnings per share of $0.21
  • Stated Net loss of $1.9 billion and diluted loss per share of $3.70, primarily due to $1.8 billion of non-cash impairment charges to investments and goodwill. $1.1 billion relates to the write-down to fair value of investments in Seadrill Partners, the initial recognition of which resulted in a non-cash gain on deconsolidation of $2.3 billion in January 2014.
  • The Seadrill Group achieved 93% economic utilization
  • Seadrill Group orderbacklog of about $12.0 billion

Commenting recently, Per Wullf, CEO and President of Seadrill Administration Ltd., said:  We have had a strong operating quarter and we continue to make good progress on our cost savings program.  Our negotiations with the shipyards continue to be constructive regarding deferrals.     We believe that market conditions are likely to remain challenging through 2016 and the coming quarters will provide insight into the 2017 environment.  It is important to recognize that we are in a cyclical business.  The longer this downturn lasts, the more robust the recovery will be when it happens.  Seadrill is in a position to capitalize on the upturn with the the most modern fleet and world class operations.

Seadrill Limited, an offshore drilling contractor, provides offshore drilling services to the oil and gas industry worldwide. The company operates through Floaters and Jack-up Rigs segments. The Floaters segment provides drilling, completion, and maintenance services for offshore exploration and production wells. Its drilling contracts regarding semi-submersible rigs and drillships for harsh and benign environments in mid, deep, and ultra-deep waters.

Shares of Computer Sciences Corporation (NYSE:CSC), declined -0.14% to $69.46, during its last trading session.

Computer Sciences Corporation confirmed that it has reached a binding Scheme of Implementation agreement to acquire the shares of UXC Limited (UXC.AX), a leading IT services company based in Australia.

CSC will acquire 100 percent of the issued capital of UXC for a cash consideration of A$1.22 per share. In addition, UXC will pay a franked dividend of A$0.02 cash per share for the half year ending Dec. 31, 2015. The news follows a period of due diligence that began with an declaration by the two companies in early October.

Based on 345 million shares of UXC outstanding, the total value of the transaction would be about A$427.6 million (US$307.9 million) upon completion. The transaction is subject to approval by UXC shareholders, followed by the customary regulatory and court approvals for transactions of this type in Australia. The transaction timeline is predictable to conclude by February 2016.

Computer Sciences Corporation provides information technology (IT) and professional services and solutions primarily in North America, Europe, Asia, and Australia. The company operates through Global Business Services, Global Infrastructure Services, and North American Public Sector segments.

Finally, Shares of Ericsson (NASDAQ:ERIC), ended its last trade with -0.53% loss, and closed at $9.43.

Ericsson and Orange recently declared a trial of optimized, low-cost, low-complexity devices and improved network capabilities for Cellular IoT over GSM and LTE.

IoT is a rapidly growing segment and, according to the Ericsson Mobility Report, there will be 28 billion connected devices by 2021. Cellular is a great foundation for IoT uptake given its advantages of global reach, reliability and security using licensed spectrum. It also needs to be evolved to meet particular requirements brought on by massive IoT deployments.

Cellular network and device capability enhancements are being driven through the standardization process at 3GPP to meet emerging requirements of ubiquitous coverage, long battery life and low-cost devices, enabled through software upgrades of existing networks. This is a key enabler in Orange`s strategy to become a major player in the Internet of Things.

Ericsson provides communications technology and services worldwide. The company’s Networks segment delivers products and solutions for mobile access, Internet protocol (IP) and transmission networks, core networks, and cloud. This segment offers radio access solutions; IP routing and transport solutions; transmission/backhaul solutions comprising microwave and optical transmission solutions for mobile and fixed networks; IP multimedia subsystem solutions; and operations support systems, in addition to supports operators’ administration of existing networks.

About Travis Garlick 1742 Articles
Been writing about and trading stocks since 2013. Manage a group of micro-cap investors on Facebook with over 15,000 members. Turned $8,500 into 185k the first year I started trading stocks and haven't looked back.