In August 2016, BlackBerry Ltd. (NYSE:BB) filed suit against Avaya Inc. (OTCQX:AVYA) for patent infringement. BlackBerry stated that Avaya was infringing on eight BlackBerry held patents in multiple products.
In January 2017, Avaya filed for Chapter 11 bankruptcy protection, putting a halt to the lawsuit. However, the alleged products were still being sold by the company.
In February 2017, BlackBerry requested that the court lift the stay on the patent suit and the shield of Avaya’s bankruptcy has been cracked in April 2017, granting BB’s application.
On December 15th, few days ago, Avaya emerged from Chapter 11 after completing its debt restructuring, and it is now publicly quoted on OTCMKTS with a market cap of around $8B.
What will it imply for BlackBerry’s lawsuit? Apparently not much: it will keep its ordinary court path, which was allowed to continue in April 2017, after a New York bankruptcy court cracked the protection shield of Avaya’s Chapter 11.
Top Bank Stocks To Own Right Now: Old Point Financial Corporation(OPOF)
- [By Lisa Levin]
In trading on Wednesday, financial shares fell 0.13 percent. Meanwhile, top losers in the sector included Adams Natural Resources Fund Inc (NYSE: PEO), down 4 percent, and Old Point Financial Corporation (NASDAQ: OPOF) down 3 percent.
Top Bank Stocks To Own Right Now: Halliburton Company(HAL)
- [By WWW.THESTREET.COM]
Halliburton (HAL) : “I liked Halliburton’s analyst day, but I think Schlumberger (SLB) is even better.”
Noble Energy (NBL) : “Noble’s good. It’s a very well-run, conservative company. It should do well in this environment.”
- [By Ben Levisohn]
Halliburton (HAL) has gotten beaten up this year…and even today’s earnings beat doesn’t capable of reversing its fortunes.
Halliburton reported a profit of 4 cents, beating forecasts for 3 cents, on sales of $4.28 billion, narrowly edging expectations for $4.27 billion. Halliburton’s shares were trading higher before the market opened, but have declined have declined 0.3% to $46.90 at 1:56 p.m. today.
Evercore ISI’s James West sees a “margin explosion” coming for Halliburton during the second half of the year, while comparing the oil-services giant to LeBron:
With the start of the year already regarded as a transition period, we view the companys decision to sacrifice near term margins in order to accelerate long-term profitability and revenue growth as a defensive, yet calculated, and preemptive maneuver. Execution does remain a risk but naysayers seem to utter similar indecencies about LeBron James each year as the playoffs arrive. You dont doubt the king, and HAL is the clear market leader when it comes to NAM completions, in our view. The change in HALs reporting format makes syncing HALs commentary with its financials more difficult, but NAM comprised 68% and 61% of C&P revenues in 2014 and 2015, respectively (71% and 21% of EBIT). As such, the broader segment should be a good proxy for the region. Abatement of cost inflation, or at least a deceleration as we progress beyond the first step-change in activity of the cycle should serve as an additional tailwind for margins. The most likely benefit will come from proppant costs as sand mines resume processing finer mesh grades following the winter hiatus. Additional frac capacity is being reactivated at leading edge prices, evidenced by the fact that incremental margins improved throughout the first quarter, and the company continues to repair legacy contracts and commitments. The improvement of the broader po
- [By Lisa Levin]
Halliburton Company (NYSE: HAL) reported better-than-expected earnings for its first quarter on Monday.
Halliburton posted adjusted earnings of $0.04 per share in the quarter on revenue of $4.28 billion; Analysts were expecting the company to earn $0.03 per share on revenue of $4.26 billion.
- [By Matthew DiLallo]
Following a series of M&A announcements in the oilfield-services sector since the onset of the oil market downturn, French oil-field service company Technip and U.S. oilfield equipment company FMC Technologies (NYSE:FTI) hooked up in an all-stock deal valuing the combined company at $13 billion. Shareholders of each company will own 50% of the combined entity, to be named TechnipFMC, which implies a roughly $6.5 billion acquisition valuation for each entity. The transaction, which should close early next year, will “combine Technip’s innovative systems and solutions, state-of-the-art assets, engineering strengths, and project management capabilities with FMC Technologies’ leading technology, manufacturing, and service capabilities.” Further, it should save $400 million in annual costs by 2019. Moreover, it will enable the combined company to compete better against larger oil-field service rivals Baker Hughes (NYSE:BHI), Halliburton (NYSE:HAL), and Schlumberger (NYSE:SLB), which have all gained strength during the downturn either through M&A activities or cost savings initiatives.
- [By Lee Jackson]
These companies also reported insider buying last week: Apache Corp. (NYSE: APA), Halliburton Co. (NYSE: HAL), Revlon Inc. (NYSE: REV), Valeant Pharmaceuticals International Inc. (NYSE: VRX) and U.S. Steel Corp. (NYSE: X).
Top Bank Stocks To Own Right Now: TransUnion(TRU)
- [By JJ Kinahan]
Ready To Shop? A highlight this coming week is Black Friday, and recent data hint that shoppers might be ready. A record 195.9 million consumers now have access to revolving credit such as bank-issued and private label credit cards, TransUnion (NYSE: TRU) said in a recent press release. This is the highest level of revolving credit access since TRU began measuring the variable and is greater than the 192.6 million consumers who had access to such credit products in Q3 2016. “The third quarter of 2017 exhibited a lending market that continued to operate in a stable manner, with consumers continuing to gain access to credit and take advantage of that access,” said Ezra Becker, senior vice president and head of research and consulting for TransUnion, in the press release. “However, we are beginning to see a slowdown in originations, which may be a signal of saturation in the lower-risk credit tiers and some pull-back in lender risk appetite in the higher-risk tiers.” Still, Becker predicted a “robust holiday shopping season.”
Top Bank Stocks To Own Right Now: Orexigen Therapeutics, Inc.(OREX)
- [By Peter Graham]
A long term chart shows Arena Pharmaceuticals along with its small capobesitytreatmentpeers EnteroMedics Inc (NASDAQ: ETRM), Orexigen Therapeutics, Inc (NASDAQ: OREX) and VIVUS, Inc (NASDAQ: VVUS) all causing severe weight loss for investor portfolios:
- [By Cameron Saucier]
Orexigen Therapeutics (Nasdaq: OREX) is a biopharmaceutical company that aims to treat obesity. The company’s flagship drug, Contrave, is approved by the Food and Drug Administration (FDA) in the United States. The drug regulates appetite, energy use, and the central nervous system. OREX rose 63% last month after it announced a new commercial and distribution agreement with Biologix FZCO. The agreement will cover 10 countries in the Middle East. OREX is currently trading at $3.30 per share and is down 79% as of Jan. 9 year over year (YOY).
- [By Keith Speights]
Arena is out of the obesity drug business, but what about Orexigen Therapeutics (NASDAQ:OREX) or VIVUS (NASDAQ:VVUS)? The problem is that they’re both too dependent on their respective obesity drugs, Contrave and Qsymia. Neither of the drugs have performed up to expectations.
Top Bank Stocks To Own Right Now: Piedmont Natural Gas Company Inc.(PNY)
- [By WWW.KIPLINGER.COM]
Duke also recently has expanded on its natural gas efforts, and will add numerous more natural gas customers when its buy-out of Piedmont Natural Gas Company, Inc. (PNY) goes through.