I think that tax deal only affected SDRL and NADL and since we may never know how much the settlement was the share price on NADL should tell the tale as NADL should be responsible for the first $63 million of the settlement, if the settlement is that high. Read the rest of the article in SDRL news, seeking alpha article yesterday.
Seadrill has been disputing a retroactive capital gains tax imposed on it by the Norwegian authorities for the past few years.
This dispute was resolved earlier this month in a secret deal.
The company estimated its maximum exposure at $263 million, $63 million of which would be paid by North Atlantic Drilling.
This deal could have either a one-time negative impact on both companies' results or a recurring one, depending on the terms.
As this deal was resolved in secret, we do not know any details about the consequences
Kee: I'm also under a few bucks on LNCO but in LINE at about $17 so I have a nice cushion and hold them both as very long term. The monthly $500 income certainly makes it easy to hold.
Check closing news. Did a land swap with Exxon which looks to be very well received. After hours both up well over a buck. Good luck tomorrow. Maybe we can get a short squeeze on the Hedgeye #$%$.
No, I now remember the Bimini episode very well and if these guys are connected, as they say, they're bad news. They were all over the news years ago. Those fish don't change their stripes. GLTU. Plenty of other places to get good yield that let me sleep at night.
Update: Re: ORC. Article came out this morning on S/A VERRRY negative. When I did some DD a couple of months ago one of the affiliated companies mentioned rang a bell with me but I just passed over it. Turns out to be Bimini Capital, which has had major lawsuits and troubles. If you own ORC read today's article I just sold my position. Stock was $13.08 when I earlier posted, now $12.79. Caution.
Sarge: Funny the BDI is showing no reaction to such a glowing report. On another stock, ORC (Orchid Island Capital) jumping well over $13 this morning on no news. Yield now over 16% and pays .18 monthly. LONG ORC.
Russell elimination, missed earnings by .01, flash crash sent shares down to $9.17 briefly, the wormy lawyers are fishing for a lead plaintiff (never happen).... Anything Else???? LOL. I added 3k shares this week on the downdraft......What me worry???
Stagg, their "yields are strong" because the share prices have declined. I'd much rather have a 10% yield on PSEC and a $13.00 share price.
Mark. PSEC was taken out of the S&P back in Feb and the stock actually held it's own afterwards. Had a 43 million share sell off at the end but didn't affect the price more than pennies. Now will also be taken out of the Russell indices due to an SEC regulation. I don't think this will even be as big a deal as the S&P as there are much fewer shares involved. Price currently is part "flash crash" this week and the "request" from the SEC for a restatement, which the company says will not affect anything, and may even increase their earnings. The shorts are all over it, as you might expect and, as with LINE, the legal snakes are looking for plaintiffs for a class action., which I'm sure will go nowhere.
Wed. turbofever mentioned it was an opportune time for you to switch out of NATDF to NADL as the prices were within pennies, and unfortunately you missed it. Gets worse..........today NADL is UP .40 and NATDF is down .02. Coulda, Woulda, Shoulda.
mark, I bought 3k shares of those Grammercy preferreds at $3.00 and sold them for $13.00. Helped me get all my losings back on the common. GPT still going nowhere. How disappointing.
Statoil boss cancels Putin conference
Published: 15 May 2014 22:25 GMT+02:00
Updated: 15 May 2014 22:25 GMT+02:00
Statoil's chief executive Helge Lund has cancelled a planned visit to a Russian investment conference headlined by President Vladimir Putin after the US asked business heads not to attend.
"Statoil confirms CEO Helge Lund will not attend the St. Petersburg International Economic Forum next week. Statoil's delegation at the summit will be led by Executive Vice President Tim Dodson," Knut Rostad, a company spokesman, told Norway's Dagens Næringsliv newspaper.
The US government at the end of this month began pressing business leaders to stay away from the conference, which has long been Russia's most important investment event.
"The understanding is that those that choose to go will be on the Obama administration’s dog list,” a participant of a closed meeting of the American Chamber of Commerce’s in Moscow told the New York Times.
Alcoa, Pepsico, ConocoPhillips, Exxon Mobil, Citigroup and Morgan Stanley have all confirmed that their chief executives will no longer be attending the conference, all though all have been replaced by senior figures