NEW YORK, July 21, 2016 /PRNewswire/ --
Stock-Callers.com today takes a look at the Services sector, which posted a weak second quarter in June 2016. Global economic anxieties continue to slow down industry growth and activities, resulting to a decline in business confidence and momentum. Let us review the performances of the following equities and see if growth opportunities are present: Golar LNG Ltd (NASDAQ: GLNG), Teekay Corp. (NYSE: TK), Ship Finance International Ltd (NYSE: SFL), and Allegion PLC (NYSE: ALLE). Know more about the trends and challenges impacting firms in this space by signing up for our free notes and much more at:
On Wednesday, Hamilton, Bermuda headquartered Golar LNG Ltd's stock recorded a trading volume of 1.99 million shares and ended the session 2.23% higher at $16.03. The Company's shares have gained 2.08% since the start of this year. The stock is trading 4.15% below its 50-day moving average. Moreover, shares of Golar, which engages in the transportation, regasification, liquefaction, and trading of LNG, have a Relative Strength Index (RSI) of 47.79.
On June 30th, 2016, research firm ABN Amro downgraded the Company's stock rating from 'Buy' to 'Sell'.
On July 06th, 2016, Golar announced that it has completed the transaction announced on June 20th, 2016, under which it has entered into a 50/50 joint venture with Stonepeak Infrastructure Partners. The joint venture company, Golar Power Ltd, will offer integrated LNG based downstream solutions, through the ownership and operation of floating storage and regasification units and associated terminal and power generation infrastructure. Golar Power has received the proceeds of a $100 million preferred note from Stonepeak and Golar LNG Limited has received $116 million in respect of its sale of 50% of the shares in Golar Power. After settlement of transaction related fees and Golar's contribution to the working capital of Golar Power, approximately $104 million will be added to Golar LNG Limited's liquidity. See our complete notes on GLNG at:
Hamilton, Bermuda-based Teekay Corp.'s stock closed the day flat at $6.92 and with a total volume of 1.13 million shares traded. Shares of the Company, which primarily provides crude oil and gas marine transportation services in Bermuda and internationally, are trading 18.39% below their 50-day moving average. The stock traded at a PE ratio of 11.87 and has an RSI of 42.32.
On June 29th, 2016, Teekay Corp. and Teekay Offshore Partners L.P. announced that they have completed and closed their previously announced financing initiatives. "I am pleased to announce the completion of Teekay's financing initiatives, which include $350 million in bank financings and $100 million in equity capital," commented Peter Evensen, Teekay Corp.'s President and CEO. Mr. Evensen also stated, "Teekay Offshore has also completed its financing initiatives, which include $400 million in bank financings, $200 million of equity capital, and the deferral of certain bond maturities. These financing initiatives, together with cash flow from operations and previously secured debt facilities, are expected to cover all of its medium-term liquidity requirements and fully finance Teekay Offshore's $1.6 billion of committed growth projects scheduled to deliver through 2018." TK free notes are just a click away at:
Ship Finance Intl.
Shares in Hamilton, Bermuda-based Ship Finance International Ltd recorded a trading volume of 519,198 shares and ended yesterday's trading session 0.61% higher at $14.89. The stock has advanced 4.00% in the previous three months. The Company's shares are trading above their 50-day and 200-day moving averages by 0.06% and 4.08%, respectively. Furthermore, shares of Ship Finance International, which operates in various sectors of the shipping and offshore industry, including oil transportation, dry bulk shipments, chemical transportation, oil product transportation, container transportation, car transportation, drilling rigs, and offshore supply vessels, traded at a PE ratio of 7.26 and have an RSI of 52.18. Sign up for your complimentary notes on SFL at:
Dublin, Ireland headquartered Allegion PLC's stock finished Wednesday's session 0.13% higher at $71.93 with a total volume of 317,890 shares traded. The Company's shares have advanced 4.32% in the last one month, 12.75% over the previous three months, and 9.52% since the start of this year. The stock is trading above its 50-day and 200-day moving averages by 5.66% and 12.18%, respectively. Additionally, shares of Allegion, which manufactures and sells mechanical and electronic security products and solutions worldwide, have an RSI of 65.64.
On July 01st, 2016, Allegion announced that it has completed, through one of its subsidiaries, the acquisition of Trelock GmbH and related companies announced on May 18th, 2016. For the fiscal year ending June 30th, 2015, Trelock generated nearly €20 million in net revenue. Financial terms of the deal were not disclosed. Register for free on Stock-Callers.com and access the latest notes on ALLE at:
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