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Patterson-UTI Energy Sees Q4 Net Income Exceeding $100 Mln
(RTTNews) - Providing an update on the fourth quarter results on Wednesday, oilfield services provider Patterson-UTI Energy, Inc. (PTEN) announced that it expects its net income for the fourth quarter of 2022 to exceed $100 million and its adjusted EBITDA for the fourth quarter of 2022 to surpass $230 million, based on current projections.
In aggregate, the Company has returned $74.3 million to shareholders in the fourth quarter through its regularly scheduled dividend and the purchase of approximately 3.3 million shares of its common stock for $57.2 million. The Company also repurchased $22.4 million of its long-term indebtedness during the fourth quarter.
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Swiss Franc Rises Against Majors
The Swiss franc advanced against its major counterparts in the New York session on Friday.
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Swiss Market Ends On Positive Note
Despite a couple of setbacks during the day's session, the Switzerland market managed to close modestly higher on Friday thanks to a few frontline stocks finding good support towards the closing minutes.
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European Stocks Close On Mixed Note
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TSX Retreats After Hitting New High
The Canadian market is down in negative territory in early afternoon trades on Friday, with stocks from communications, industrials and consumer discretionary sectors under pressure.
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U.S. Consumer Sentiment Reaches Five-Month High In July
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Bay Street Likely To Open Higher On Firm Commodities, Trade Deal Hopes
Higher U.S. and Canadian futures, firm commodity prices, and fairly encouraging U.S. economic data point to a positive start for the Canadian market Friday morning.
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U.S. Housing Starts Surge 4.6% In June, More Than Expected
New residential construction in the U.S. rebounded by more than expected in the month of June, according to a report released by the Commerce Department on Friday.
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