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Gold/Mining/Energy : Strictly: Drilling and oil-field services -- Ignore unavailable to you. Want to Upgrade?

To: upanddown who wrote (27948)	8/18/1998 4:37:00 PM
From: Snowshoe	Respond to of 95453

From Briefing.com: 15:00 -- 16:00 ET ****** Transocean Offshore Inc. (RIG) 30 3/8 +5/8: ING Baring Furman Selz initiates coverage of deepwater semi-submersible and drill ships concern with "buy" and a 12-18 month price target of $45 a share; company has excellent portfolio of long-term contracts providing good earnings visibility in 1999 and 2000..... Rowan Cos. (RDC) 12 5/16 -1/8: ING Baring Furman Selz initiates coverage of offshore and land drilling contractor with "hold" due to harsh environment for jackup rates; based on Gulf of Mexico rig business, estimates that for every $1,000 decrease in day rates, earnings per share affected by $0.04 to $0.05 a share..... Noble Drilling Corp. (NE) 15 1/8 +5/8: ING Baring Furman Selz initiates coverage of diversified oil services concern with "hold" due to concerns about its core jackup business; there appears to be more downside than upside to earnings numbers as day rates for jackups continue to fall; believes that fluctuations in day rates will continue to impact earnings..... Marine Drilling Inc. (MRL) 11 3/4 +1/8: ING Baring Furman Selz initiates coverage of offshore drilling contractor with "hold" as firm is pessimistic about the day rate trends in the market; believes stock presents a good buying opportunity at some point over the next six months, but currently there is no near term catalyst..... Global Marine Inc. (GLM) 12 9/16 +1/2: ING Baring Furman Selz initiates coverage of offshore drilling services company with "hold" due to exposure to the soft jackup market; believes that softness in the Gulf of Mexico could spill over into the international areas; also suspects that earnings surprises could be on the downside; recommends accumulating shares in the $9-$10 range..... R&B Falcon Corp. (FLC) 11 7/8 -1/16: ING Baring Furman Selz initiates coverage of offshore oil drilling concern with "hold" due to too much exposure to the short-term weakness in Gulf of Mexico market; also views the acquisition of Cliffs Drilling (CDG) as a negative; believes that FLC provides an excellent buying opportunity within the next six to nine months..... ENSCO International Inc. (ESV) 12 5/16 +5/16: ING Baring Furman Selz initiates coverage of offshore contract drilling and marine transportations concern with "hold" due to the large fleet of jackups it operates in the Gulf of Mexico; company has significant exposure to falling day rates with each $5,00 change prompting earnings per share to drop by $0.16 to $0.17 a share..... Cliffs Drilling Co. (CDG) 19 3/4 +7/16: ING Baring Furman Selz initiates coverage of oil drilling services concern with "hold" due to dependence on the Gulf of Mexico jackup market; company has yet to experience significant rate pressures, but anticipates that earnings per share will fall by $0.70 to $0.75 for every $5,00 drop in day rates.....