News review: Nabors Industries Ltd. (NYSE:NBR), Atwood Oceanics, Inc. (NYSE:ATW), Cowen Group Inc (NASDAQ:COWN)

On Tuesday, Shares of Nabors Industries Ltd. (NYSE:NBR), added 5.79% and closed at $13.53 in the last trading session. The last trading range of the stock ranges between $13.07 and $13.64. Nabors Industries Ltd., together with its auxiliaries, provides drilling and rig services. It offers equipment manufacturing, rig instrumentation, optimization software, and directional drilling services; and patented steering systems and rig instrumentation software systems, counting ROCKIT directional drilling system that provides data collection services to oil and gas exploration and service companies, and RIGWATCH software, which monitors a rig’s real-time performance and daily reporting for drilling operations. The company also manufactures and sells top drives, catwalks, wrenches, draw works, and other drilling related equipment; and offers well-site services, such as engineering, transportation and disposal, construction, maintenance, well logging, directional drilling, data collection, and other support services. As of December 31, 2015, it marketed about 430 rigs for land-based drilling operations in the United States, Canada, and about 20 other countries worldwide; 42 rigs for offshore drilling operations in the United States and internationally; and 6 jackup units.

Atwood Oceanics, Inc. (NYSE:ATW), dropped -1.43% and closed at $7.94 in the last trading session. The last trading range of the stock ranges between $7.88 and $8.52. The company’s Market capitalization is $544.22 million with the total Outstanding Shares of 64.80 million. Atwood Oceanics, Inc. (ATW) (“Company”), declared recently that it had earned net income of $4.2 million or $0.07 per diluted share, on revenues of $188.7 million for the quarter ended September 30, 2016, contrast to net income of $99.5 million or $1.53 per diluted share on revenues of $227.8 million for the quarter ended June 30, 2016 and contrast to net income of $150.7 million or $2.32 per diluted share, on revenues of $363.2 million for the quarter ended September 30, 2015.  During the three months ended September 30, 2016, the Company:

Recorded a non-cash impairment charge of $38.6 million ($38.6 million, net of tax, or $0.60 per diluted share) in Asset Impairment related to our fleet wide drilling equipment

Recorded a non-cash charge of $3.9 million ($3.9 million, net of tax, or $0.06 per diluted share) in Drilling Costs to increase our reserve for excessive and/or obsolete materials and supplies, and

Recognized a gain on the purchase of debt of $10.2 million ($6.6 million, net of tax, or $0.10 per diluted share) in Gains on Extinguishment of Debt related to consummation of our modified “Dutch Auction” on July 25, 2016 whereby we attained $42.0 million aggregate principal amount of the Senior Notes.

Cowen Group Inc (NASDAQ:COWN), remained flat and closed at $3.10 in the last trading session. The last trading range of the stock ranges between $3.00 and $3.30. During the 52-week trading session the minimum price at which share price traded, registered at $2.46 and reached to max level of $4.82. Caerus Investors, a New York City-based asset management firm focused on investing in consumer-related equities has sent a constructive letter to Nancy Karch, Chairman of the Board of Directors of Kate Spade (KATE) urging the Board to take steps to realize shareholder value by pursuing a sale of the company.

We are deeply concerned about the precipitous decline in the share price of Kate Spade over the last two and a half years brought about by administration’s inability to meet their own stated aims. The stock has now fully retraced the entire gains from when the former Fifth and Pacific first declared its intention to isolate Kate Spade as a stand-alone entity in early 2013. While we have long admired the growth prospects for the Kate Spade brand, we have become increasingly frustrated by administration’s inability to achieve profit margins comparable to industry peers. Given the market’s lack of faith in the current administration team, as evidenced by the 63% decline in the shares since the intraday high on August 11th, 2014, we believe the best path for enhancing shareholder value is to pursue a sale of the company. We strongly believe that a planned, industry player would be willing to pay a substantial premium to add this growth business to their portfolio.

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