Claire Poole is a senior writer based in Houston covering energy and utilities. In her time at The Deal, Poole has written stories analyzing the how and why of energy deals and speculating on upcoming activity. She has also conducted insightful interviews with leading energy dealmakers and is often the first to reveal groundbreaking energy news. Before joining The Deal in 2000, Poole worked as a reporter and staff writer at Forbes, was editor-in-chief of El Financiero International and Mexico Business and was a contributing editor at Latin Trade. She also contributed articles to Money, Worth, Businessweek and Texas Monthly.
The Columbus, Ohio, utility's earnings were down 20% over the same period last year and sales slid 13%, mostly due to the "warm winter blues."
The oilfield services giant didn't shed light on any progress regarding its $35 billion acquisition by Halliburton.
The move could also mean that it's buying time to round up a buyer for some of the companies' assets before the April 30 merger deadline, analysts say.
CEO Paal Kibsgaard thinks a tightening in the supply-and-demand balance could prompt a recovery in the second half.
The company cancelled a $3.3 billion pipeline that would have fed natural gas to New England utilities.
The buyer plans to pay for the cash portion of the $303 million deal with cash on hand, borrowings under its revolving credit facility and proceeds from a stock offering.
With more negative developments, analysts expect the buyer will eventually pay the target a $1 billion to $2 billion breakup fee.
There is no correlation between getting oil to a point of equilibrium and the current S&P 500 index, Cramer says.
RBC Capital Markets analyst anticipates lower sales and margins for the oilfield services giant across all geographies.
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