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McDermott International stock price
McDermott International latest news:
SAP talks up cloud business, buys $2.4 billion U.S. sales software firm
WALLDORF, Germany (Reuters) - SAP posted 2017 results on the lower side of market expectations after Chief Executive Bill McDermott had promised a "dynamite" final quarter in its cloud business, as Europe's top technology company announced a $2.4 billion U.S. acquisition.
SAP talks up cloud business, buys $2.4 bln sales software firm
WALLDORF, Germany, Jan 30 (Reuters) - Germany's SAP
posted 2017 results on the lower side of market
expectations after Chief Executive Bill McDermott had promised a
"dynamite" final quarter in its cloud business, as Europe's top
technology company announced a $2.4 billion U.S. acquisition.
McDermott's stock jumps toward 3 1/2-year high after raised profit outlook
Shares of McDermott International Inc. surged 6.9% toward a 3 1/2-year high in premarket trade Wednesday, after the oil services company raised its 2017 profit expectations and provided an upbeat 2018 outlook. The company said it now expects 2017 earnings per share of 60 cents to 63 cents, compared with guidance provided on Nov. 1 of about 53 cents, while the revenue outlook remains at $3.0 billion. McDermott said the raised profit outlook is a result of "strong operational performance, cost savings and better-than-anticipated weather and change orders" during the fourth quarter. For 2018, the company expects EPS of 42 cents to 52 cents, above the FactSet consensus of 40 cents, and projects revenue of $3.1 billion to $3.3 billion, which is above expectations of $3.0 billion. The stock was on track to open at the highest price seen during regular session hours since June 19, 2014. It has slipped 0.3% over the past 12 months through Tuesday, while the VanEck Vectors Oil Services ETF has tumbled 14.3% and the S&P 500 has gained 24.5%.Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
McDermott and Microsoft skid; Tenet and Darden rise
Stocks that moved substantially or traded heavily on Tuesday: Carnival Corp., up $1.53 to $68.13
Why McDermott International Shares Dropped 11% This Morning
McDermott appears to be getting a good price on a bad company.
Oil-focused engineering firms McDermott, Chicago Bridge to merge
Oil-focused construction and engineering firms McDermott International Inc (MDR) and Chicago Bridge and Iron NV said they would combine to create a new company that would offer a range of services from engineering to procurement.
UPDATE 1-Oil-focused engineering firms McDermott, Chicago Bridge to merge
Dec 18 (Reuters) - Oil-focused construction and engineering
firms McDermott International Inc and Chicago Bridge and
Iron NV (CB&I) said they would combine to create a new
company that would offer a range of services from engineering to
McDermott, CB&I to merge in deal valued at $6 billion
McDermott International Inc. and Chicago Bridge & Iron Co. NV , which provide infrastructure and other products for the oil and gas industries, announced Monday afternoon that they plan to merge in an all-stock transaction. The companies estimated the enterprise value of the transaction at $6 billion, with McDermott investors owning about 53% of the combined company and CB&I the other 47%, and expect annualized cost savings of about $250 million by 2019. McDermott Chief Executive David Dickson will remain in charge, and the company will retain McDermott's headquarters in Houston, Texas. "Together, we will have a broadened reach across the entire energy industry that addresses evolving customer needs, along with a much stronger and more flexible financial profile than CB&I would independently," said CB&I CEO Patrick Mullen, who will remain with the company through a transition period. The board will include five directors from each company, along with Dickson. When the transaction is complete, CB&I shareholders will receive 2.47221 shares of McDermott for each CB&I share they own, unless McDermott completes a planned 3-to-1 reverse stock split ahead of the closing, which would reduce that number to 0.82407 shares. The companies' stocks bounced around in late trading after the announcement, initially adding more than 1% apiece but then falling back, with McDermott suffering a 0.5% decline and CB&I gaining 0.2%.Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
BRIEF-Mcdermott And CB&I To Combine In Transaction Valued At $6 BLN
Mcdermott International Inc(MDR): * MCDERMOTT AND CB&I TO COMBINE IN TRANSACTION VALUED AT $6 BILLION. * Mcdermott International Inc(MDR) - MCDERMOTT SHAREHOLDERS TO OWN 53% AND CB&I SHAREHOLDERS TO OWN 47% OF COMBINED COMPANY. * MCDERMOTT INTERNATIONAL (MDR) - COMBINED CO TO HAVE COMBINED REVENUES OF APPROXIMATELY $10 BILLION AND BACKLOG OF APPROXIMATELY $14.5 BILLION.
McDermott to merge with Chicago Bridge in $6 bln deal
Dec 18 (Reuters) - Oilfield equipment and services provider
McDermott International Inc and Chicago Bridge and Iron
NV (CB&I) said they agreed to an all-stock merger that
would create a company with an enterprise value of about $6
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