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The Dow Jones Industrial Average ends Monday in the red, its eighth day of losses in a row and its longest losing streak since August 2011.
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Stocks are mixed on Monday as Wall Street shakes off worries over the way forward for the Trump White House.
- Barrons.com•13 hours ago
Weatherford International (WFT) By Guggenheim Securities ($5.89, March 26, 2017) After the market close on Friday, Weatherford International and Schlumberger announced an agreement to merge their North American onshore completions businesses into a new joint venture called OneStim, which will be 70% owned, operated, and consolidated by Schlumberger. Schlumberger (SLB) will also pay Weatherford (WFT) $535 million upon closing, which we expect will be in the fourth quarter. Given the asset-contribution ratio of 60/40 [Schlumberger/Weatherford, respectively], the $535 million that Schlumberger has agreed to pay for what is effectively an incremental 10% stake in the venture implies an enterprise value (EV)/hydraulic horsepower (hhp) of $2,140 for OneStim -- a 13% premium to the EV/hhp multiples of OneStim’s public frac peers and about 3 times the value we thought Weatherford would get for its business.
SLB : Summary for Schlumberger N.V. Common Stock - Yahoo Finance
Schlumberger Limited (SLB)
NYSE - NYSE Delayed Price. Currency in USD
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|Day's Range||76.14 - 77.18|
|52 Week Range||71.34 - 87.84|
Trade prices are not sourced from all markets
|PE Ratio (TTM)||-61.96|
|Dividend & Yield||N/A (N/A)|
|1y Target Est||N/A|