Happy Halloween everybody. Just a couple of rapid fire notes.
First, ABC ("easy as 1,2,3") reported earnings this morning. So far as I can tell, they were solid. Good news, hooray! FLR reports tonight after the close, but before trick or treating starts.
I saw where GS downgraded RIG to a "sell". That is pretty strong. They think macro demand for off shore drilling is weak and that RIG faces significant contract renewal risk. They also comment that RIG has a relatively old fleet and will need to start reinvesting. These all strike me as relevant comments. I am not going to run out and sell my RIG tomorrow, but will be watching with a closer eye and may sell some at the margins.
QCOR crashed over 10% yesterday when the mentioned the dreaded phrase "SEC Investigation". It is ironic, that was the reason I sold QCOR in the low 20s in October 2012. Scary stuff.
WTW appears to not be worth the wait, they are down 17% this morning with their dividend slimmed down to zero.
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