|Bid||24.28 x 2200|
|Ask||24.29 x 1000|
|Day's Range||24.12 - 24.57|
|52 Week Range||18.20 - 32.91|
|Beta (3Y Monthly)||1.66|
|PE Ratio (TTM)||N/A|
|Earnings Date||Oct 23, 2019|
|Forward Dividend & Yield||0.52 (2.14%)|
|1y Target Est||31.01|
McDermott's (MDR) joint venture with China Shipbuidling Industry Corporation will execute fabrication along with partial procurement, construction and pre-commissioning scope.
TechnipFMC (FTI) plans to spin off its engineering and construction business to create two independent companies, while Kinder Morgan (KMI) will sell its Canadian unit and portion of a pipeline.
Oil prices rallied slightly at the start of the week on the back of what many consider false hope of a trade war de-escalation and a thawing of tensions between the U.S. and Iran.
Stocks bounced back from Friday's misery to start the new trading week on renewed hopes for some sort of trade deal with China. But, given the scope of Friday's meltdown, a bounce was nearly inevitable. Even with Monday's gain of 1.1%, the S&P 500 is still down 1.5% from Thursday's close.Source: Shutterstock Teva Pharmaceutical (NYSE:TEVA) led the way with its 5.2% gain during regular-hours action, followed by more than a 2% pop in after-hours trading on a small wave of encouraging news that emerged for the struggling company last week. Roku (NASDAQ:ROKU) wasn't far behind though, rallying nearly 4% as investors continue to chase its move into record-high territory.Holding the market back more than any other name was Philip Morris (NYSE:PM), down more than 4% on rumors it may merge with Altria Group (NYSE:MO).InvestorPlace - Stock Market News, Stock Advice & Trading Tips * 10 Companies Using AI to Grow As for names worth a look headed into today's action, take a look at the stock charts of TechnipFMC PLC (NYSE:FTI), Constellation Brands (NYSE:STZ) and Vertex Pharmaceuticals (NASDAQ:VRTX). Here's why. Constellation Brands (STZ)Constellation Brands shares, like most other stocks, snapped out of their late-2018 funk with a clear rebound. The effort since April, however, has been choppy at best and ineffective at worst. The end result is the formation of a converging wedge pattern that's still got STZ stock contained.There's solid bullish work still being done within that containment though, that's worth noting because it could be setting up a breakout thrust. With four months' worth of pent-up energy ready to unleash, that move could be a very tradeworthy one. Click to Enlarge * The wedge is plotted on both stock charts, with the upper boundary marked by a yellow line and the lower boundary marked by a blue line. Constellation Brands is one good day away from breaking above the ceiling. * Another technical ceiling has also taken shape since last month. STZ shares have peaked twice around $206, marked in red on both stock charts. * We've not seen it happen yet, but for any breakout to be truly healthy, support has to start materializing at one or more of the moving average lines. Most are right around $196 now. Vertex Pharmaceuticals (VRTX)The past several months haven't been easy ones for Vertex Pharmaceuticals shareholders. The stock has gone nowhere, but it has still been sea-sickeningly volatile. A key support as well as a key resistance line have both been breached, but in both cases, it's only temporarily.These past few months haven't been pointless though. They've helped define how and where traders are drawing their mental lines in the sand. And, with one more good "oomph" to get VRTX shares above the ceiling -- the stock couldn't hold above earlier in the month -- shares could finally breakout out of their rut. * 7 5G Stocks to Connect Your Portfolio To Click to Enlarge * It's plotted on both stock charts. That is, Vertex shares have been squeezed toward the tip of a converging wedge shape that materialized at the beginning of this year. * The upper boundary, marked in yellow, failed to keep the rally effort in check earlier this month, though VRTX fell back under it last week. A second wind, however, could get and keep it above that ceiling. * It would be easy to miss given the sheer number of moving average crosses since late last year, but as of last week, we're now in the shadow of a so-called golden cross, where the purple 50-day line is above the white 200-day line. TechnipFMC PLC (FTI)Even though it's an S&P 500 component, most investors have likely never heard of TechnipFMC PLC. Don't let its obscurity or relatively small size mislead you though. Even with a market cap of a modest $10 billion, the oil and gas technology stock can move and shake things up within the industry. And, like most other energy names, FTI was hit pretty hard in the last quarter of last year.Things have been different this year though … not necessarily for the better, but moving in that direction. Even though the bulk of Monday's intraday gain was given back, the bulls once again tipped their hand to say they're increasingly interested in owning this name. * Click to EnlargeOnce again, the stock in question is framed by a yellow resistance line and blue support line on both stock charts. But, this time, those lines are part of a diverging wedge, rather than converging one. * At the very least, the kiss of the lower boundary of the trading range in mid-August sets the stage for a move to the upper boundary, to repeat the pattern that has been in place since early this year. * As was the case with Constellation Brands, the key from here will be finding support at the moving average lines. None appeared to be support on Monday, though it's likely the bulls will try again this week.As of this writing, James Brumley did not hold a position in any of the aforementioned securities. You can learn more about him at his website jamesbrumley.com, or follow him on Twitter, at @jbrumley. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 10 Companies Using AI to Grow * The 10 Biggest Winners From Second-Quarter Earnings * 7 Marijuana Penny Stocks to Consider for Those Who Can Handle Risk The post 3 Big Stock Charts for Tuesday: TechnipFMC PLC, Vertex Pharmaceuticals and Constellation Brands appeared first on InvestorPlace.
Moody's Investors Service ("Moody's") placed TechnipFMC plc's (TechnipFMC) ratings under review for downgrade following the company's announcement on August 26, 2019 that it will spin-off its Onshore/Offshore segment into a standalone public company. The ratings under review include TechnipFMC's Baa2 issuer rating, Baa2 rating on the EUR 450 million unsecured convertible bonds due 2021 as well as $500 million senior unsecured notes due 2022.
"The exceptional performance of TechnipFMC since the merger has made the proposed spinoff possible and, when completed, will enable the two companies to unlock additional value," a press release states.
TechnipFMC shares rose about 5% Monday, after the oil-services company said it is planning to split into two publicly traded companies by spinning off its onshore/offshore business. The company, which was created by the January 2017 merger of France's Technip S.A. with Houston's FMC Technologies Inc., said it expects to complete the split in the first half of 2020. The engineering and construction spinoff is expected to have about 15,000 employees and to be based in Paris. The remaining entity will have about 22,000 employees and will be headquartered in Houston. TechnipFMC shares have gained 24% in 2019, while the S&P 500 has gained 15%.
The separation would enhance both RemainCo’s and SpinCo’s focus on their respective strategies and provide improved flexibility and growth opportunities. The transaction is expected to be structured as a spin-off of TechnipFMC’s Onshore/Offshore segment to be headquartered in Paris, France. The separation is expected to be completed in the first half of 2020, subject to customary conditions, consultations and regulatory approvals, at which time all outstanding shares of SpinCo will be distributed to existing TechnipFMC shareholders.
TechnipFMC will split into a fully-integrated technology and services provider in the energy space, and an engineering and construction firm.
FMC Technologies (FTI) reported earnings 30 days ago. What's next for the stock? We take a look at earnings estimates for some clues.
TechnipFMC (FTI) will work on Shell's PowerNap project which entails integrated engineering, procurement, construction and installation.
TechnipFMC (FTI) (FTI) has been awarded a significant(1) integrated Engineering, Procurement, Construction and Installation (iEPCI™) contract by Shell for the PowerNap project, located in the Gulf of Mexico. TechnipFMC will design, manufacture and install subsea hardware, including subsea tree systems, subsea distribution controls, topside controls, flying leads and connectors for three wells, in addition to the supply of 20 miles of production umbilical and flowlines. Arnaud Pieton, President Subsea at TechnipFMC, commented: “We are very pleased to have been awarded this iEPCITM contract for the Shell PowerNap project.
After losing one of its largest tenants last year, one of the Energy Corridor’s most prominent office towers is back to being 100 percent occupied.
Patterson-UTI's (PTEN) contract drilling segment recorded operating income of $16.5 million, turning around from the loss of $251,000 in the year-earlier quarter.
The bottom line fell from the year-ago period as North American drillers scale back their production growth plans, leaving less work for the likes of National Oilwell Varco (NOV).
The energy sector's second-quarter 2019 earnings and revenues are expected to decline 17.6% and 2.6%, respectively, from the year-ago period.