Streetbeat News

DO

Diamond Offshore Drilling, Inc.

https://www.diamondoffshore.com

Industry

Oil & Gas Drilling

Diamond Offshore Drilling, Inc. provides contract drilling services to the energy industry worldwide. As of December 31, 2021, the company operated a fleet of 12 offshore drilling rigs, including four drillships and eight semisubmersible rigs. It serves independent oil and gas companies, and government-owned oil companies. The company was founded in 1953 and is headquartered in Houston, Texas.

Open

14.24

Mkt cap

1.4B

Volume

5.6M

High

14.36

P/E Ratio

-5.24

52-wk high

16.80

Low

13.97

Div yield

N/A

52-wk low

11.02

Noble Corporation and Diamond Offshore Drilling have received clearance from the Australia Competition & Consumer Commission for their pending transaction. The deal is expected to close on September 4th, 2024.

Portfolio Pulse from Benzinga Newsdesk

August 30, 2024 | 8:03 pm

Diamond Offshore Drilling (NYSE:DO) reported Q2 2024 adjusted EPS of $0.12, beating the $0.09 estimate, but sales of $252.886M missed the $257.150M estimate. EPS increased by 400% year-over-year, while sales decreased by 10.18%.

Portfolio Pulse from Benzinga Newsdesk

August 06, 2024 | 9:53 pm

Investor optimism has improved, with the S&P 500 closing at a record high. Diamond Offshore Drilling shares surged 11% after announcing an acquisition by Noble Corporation, while Perion Network shares fell 30% due to a revenue outlook cut. Investors are awaiting the Federal Reserve's interest-rate decision and consumer price index.

Portfolio Pulse from Avi Kapoor

June 11, 2024 | 1:03 pm

Crude oil prices rose sharply, and ICC Holdings shares spiked higher. The Dow and S&P 500 saw slight gains, while the Nasdaq Composite edged lower. Notable stock movements included Diamond Offshore Drilling's acquisition by Noble Corporation, Big Tree Cloud Holdings' significant rise, and ICC Holdings' surge following an acquisition announcement. Perion Network and Sify Technologies saw substantial declines.

Portfolio Pulse from Avi Kapoor

June 10, 2024 | 6:37 pm

Shares of Skye Bioscience, Inc. (NASDAQ:SKYE) fell sharply by 19% after the company announced the discontinuation of its SBI-100 Ophthalmic Emulsion Phase 2a trial. Other notable movers include Big Tree Cloud Holdings Limited (NASDAQ:DSY) which jumped 123% following a business combination, and KWESST Micro Systems Inc. (NASDAQ:KWE) which gained 79.8% after being awarded a significant sub-contract. Several other stocks experienced significant gains or losses during Monday's mid-day session.

Portfolio Pulse from Avi Kapoor

June 10, 2024 | 6:10 pm

U.S. stocks traded mixed with the Dow Jones falling slightly while the NASDAQ and S&P 500 rose. Energy shares climbed, and financial shares fell. Diamond Offshore Drilling will be acquired by Noble Corporation. KWESST Micro Systems shares surged after a significant contract award. Big Tree Cloud Holdings, ICC Holdings, and KWESST Micro Systems saw significant gains, while Perion Network, Sify Technologies, and Enservco Corporation experienced notable declines.

Portfolio Pulse from Avi Kapoor

June 10, 2024 | 4:02 pm

U.S. stocks were mixed on Monday, with the Dow Jones index falling around 0.2%. ICC Holdings, Inc. (NASDAQ:ICCH) saw a significant rise of 43% after Mutual Capital Group announced plans to acquire the company for $23.50 per share. Other notable gainers included QXO, Inc. (NASDAQ:QXO), Opera Limited (NASDAQ:OPRA), Ivanhoe Electric Inc. (NYSE:IE), and several others.

Portfolio Pulse from Avi Kapoor

June 10, 2024 | 3:25 pm

Diamond Offshore Drilling shares are trading higher after Noble announced an agreement to acquire the company.

Portfolio Pulse from Benzinga Newsdesk

June 10, 2024 | 12:26 pm

Noble Corporation (NYSE: NE) is set to acquire Diamond Offshore Drilling (NYSE: DO) in a stock-plus-cash deal valued at $15.52 per share, representing an 11.4% premium over Diamond's closing price on June 7, 2024. The transaction is expected to close by Q1 2025. Noble will also increase its quarterly dividend by 25% to $0.50 per share starting Q3 2024. The deal is anticipated to generate $100 million in annual pre-tax cost synergies and boost Noble's free cash flow per share.

Portfolio Pulse from Lekha Gupta

June 10, 2024 | 11:31 am

Noble Corporation (NE) is set to acquire Diamond Offshore (DO) in a cash and stock transaction valued at $600 million, representing an 11.4% premium. Diamond shareholders will receive 0.2316 Noble shares and $5.65 per share in cash for each Diamond share. The transaction is expected to close by Q1 2025, pending regulatory and shareholder approvals.

Portfolio Pulse from Benzinga Newsdesk

June 10, 2024 | 7:05 am

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