| Diamond Offshore profts dip on reduced Gulf activity
Diamond Offshore Drilling, the operator of the world's second-largest fleet of deepwater rigs, said fourth-quarter profit fell 25 percent on one-time tax costs and reduced drilling in shallow waters of the Gulf of Mexico. Net income fell to $164.9 million, or $1.19 a share, from $221.4 million, or $1.60, a year earlier, Houston-based Diamond said today in a statement. Excluding the tax costs, the profit missed by 6 cents the average of 16 analyst estimates compiled by Bloomberg. The company declared a special dividend of $1.25 a share. The company's shares rebounded from a drop of as much as 6 percent after President Lawrence Dickerson told analysts on a conference call that there is a "modest recovery or stabilization" of rig demand in the Gulf's shallow waters.
Australian stockmarket down on Wall St, BHP fears
THE Australian sharemarket has closed weaker amid fresh jitters over a massive drop on Wall Street and BHP Billiton's first-half profit slump. At 4.15pm (Sydney time) the benchmark S&P/ASX200 was down 183.5 points or 3.17 per cent to 5609.4, while the broader All Ordinaries was down 174.5 points or 2.98 per cent at 5677.6. On the Sydney Futures Exchange, the March share price index futures contract was down 214 points or 3.71 per cent to 5576 points on a volume of 28,669 contracts. Investors punished BHP, which posted a dip in first-half net profit, after exchange rate movements and higher input costs affected its bottom line. BHP's result was overshadowed by the company's announcement of a formal $US147.4 billion ($A164.5 billion) 3.4-to-one share bid for rival Rio Tinto Ltd.
Sensex slips in early trade
At 10:05 am, the Bombay Stock Exchange's Sensex was down 216 points or 1.19 per cent at 17,859.92
Bharti Airtel (down 2.53%), BHEL (2.48%), ICICI Bank (2.2%), HDFC (2.08%) and NTPC (1.91%) were the biggest index losers. Bajaj Auto (up 1.61%), Satyam Computer (1.61%), Infosys Technologies (1.17%), Wipro (1.02%) and Tata Consultancy Services (0.47%) were the major gainers. The National Stock Exchange's Nifty was down 61 points or 1.15 per cent at 5220.25.
“We had a gap up opening Tuesday, but lost around 1 per cent from the day's high. The discount in the Nifty February futures also widened to 20 points from 4 points. We will see profit booking coming at these levels, but Nifty might find support at 5150 levels," UTI Securities said in a note.
The brokerage recommends buying HCL Tech, Mphasis, Sasken, and Tech Mahindra expecting them to outperform the market in the near term.
Van Horn latest to cash in on NBA's trade provisions
Don't look for P.J. Brown to join the list of players making a brief comeback for an easy payday.
The 38-year-old power forward, who has not played since helping the Bulls reach the second round of last year's Eastern Conference playoffs, has no interest in returning to the NBA, according to his agent, Mark Bartelstein.
"He's happy with his family, just enjoying being retired and living in Louisiana," Bartelstein said. "I've had a lot of calls for him, [but] he's shown no interest."
Brown's reluctance to play is bad news for Chicago, which still owns his rights and thus could potentially use him in a sign-and-trade. The Bulls are said to be one of the more active teams in this year's trade market. Unfortunately for them, they don't have any players with significant expiring contracts.
Councilman MikeK Recalls Knievel Action Figure
It is hard to see any other alternatives now that U.S. Magistrate Mikel Williams has found Beck, of Boise, and his 71 fellow plaintiffs lack standing to challenge the state's primary election law in court. Only the party can do that, Williams ruled/Jim Fisher, Lewiston Tribune. Full editorial here. Question: If disgruntled Republicans succeed in closing Idaho's primaries, will you be more/less likely to vote Republican?
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MONDAY, FEB. 12
The operator of American Airlines put a damper on buoyant expectations late last month by warning that weather-related flight cancellations had driven up its unit costs, leading analysts to predict a quarterly loss. That said, AMR is still likely to post its first annual profit in six years amid improving industry fundamentals. See article. Earnings Outlook: Analysts polled by Thomson First Call forecast a loss of seven cents a share; before AMR's update, it was expected to turn a profit of 53 cents a share. In 2005's fourth quarter, the company posted a loss of $3.49 a share, including more than $1 a share in one-time charges. Revenue Outlook: Analysts expect $5.5 billion, up from $5.17 billion a year earlier. Key Issues: • Cancellations: Snow in Denver and fog in London hampered airlines late in the quarter.
January 2006
It'll make his posts here more enjoyable in the future because I do. So, I'm going to lay down this challenge to the rest of you totally anonymous blurkers. I'd like to know who you are (via private e-mail, of course). It increases your standing on the blog in my eyes. And makes my blogging experience richer. Question: Are you ready to come in from the cold? .
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