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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 Stocks Slip On Late Selling; SMI Ends 0.34% Down
The Switzerland market closed weak on Monday as a few stocks tumbled on selling pressure in the final hour of the day's session.
The market got off to a firm start, in line with markets across Europe, as news about the U.S. and European Union agreed on a trade deal over the weekend. However, the mood turned cautious as the day progressed, and the market eventually closed on a weak note.
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29 minuter sedan
European Markets Fail To Hold Gains, Settle Weak
Despite opening on a bright note, European stocks retreated and settled mostly lower on Monday, as initial buoyancy over an EU-US trade deal faded and investors looked ahead to earnings updates, some crucial economic data and policy announcements from the Federal Reserve and the Bank of Japan this week.
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55 minuter sedan
Canadian Market Modestly Lower; Materials Stocks Decline
Despite the U.S.-European Union agreeing on a trade deal over the weekend, the mood in the market remains cautious.
The market slipped after opening flat Monday morning, and despite staging a recovery subsequently, remains in negative territory, weighed down by losses in materials sector due to weak metal prices.
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2h 8minuter sedan
Safe-haven Dollar Drops Amidst Trade Deal With Japan
The Dollar recorded a massive decline during the week ended July 25 amidst the announcement of the trade deal between the U.S. and Japan.
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3h 24minuter sedan
Tesla, Samsung Sign $16.54 Bln Chip Deal; Shares Gain
EV major Tesla Inc. and South Korean chip maker Samsung Electronics Co. Ltd. have entered into a contract worth around 22.76 trillion Korean Won or $16.54 billion for semiconductor contract manufacturing. Tesla founder and CEO Elon Musk in a post on the social media platform confirmed that Samsung will be making Tesla's next-generation AI6 chip.
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4h 18minuter sedan
Bay Street Likely To Open Higher
Canadian shares may open on a positive note Monday morning following the U.S. and European Union agreeing on a trade deal.
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5h 35minuter sedan
FTSE 100 Retreats After Positive Start, Down Marginally
The U.K. market is down slightly a little past noon on Monday, having shed early gains, as investors await a slew of corporate earnings announcements due this week.
Reports about the EU and U.S. arriving at a trade deal lifted sentiment in European markets this morning, but most of the major markets are off early highs with the focus shifting to earnings and economic data.
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6h 34minuter sedan
CAC 40 Up Over 0.5% As Trade Tensions Ease
After opening on a firm note, French stocks gave up some gains Monday morning as investors turned a bit cautious, looking ahead to some crucial earnings and economic data due this week.
The positive start came amid easing concerns over tariff as the U.S. and EU arrived at a trade deal over the weekend.
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6h 53minuter sedan
