NOV Inc. (NYSE: NOV)’s stock price increased to 14.88(April 28, market close) from the previous closing price of 13.58, which shows a hike of 1.30(9.57%). The day’s range was 13.58 – 15.07 and the volume was 9,364,144. The closing price of April 28 is the highest since March 22. The highest price in the same period being 15.08, also came on April 28. The current price as of 10:44AM EDT, April 29 stands at 15.15.
NOV Inc. (NYSE: NOV) today reported first quarter 2021 revenues of $1.25 billion, a decrease of six percent compared to the fourth quarter of 2020 and a decrease of 34 percent compared to the first quarter of 2020. Net loss for the first quarter of 2021 was $115 million, or 9.2 percent of sales, which included non-cash, pre-tax charges (“other items”, see Other Corporate Items for additional detail) of $9 million. Adjusted EBITDA (operating profit excluding depreciation, amortization, and other items) decreased $17 million sequentially to $0.
“We are encouraged by signs of an emerging global recovery for our industry,” stated Clay Williams, Chairman, President and CEO. “However, NOV’s weak first quarter results reflect the extreme austerity that descended on the oilfield following the economic shutdown of 2020, as our oilfield service customers preserved cash by cannibalizing idle equipment rather than buying new. Severe winter weather in Texas and Oklahoma, additional COVID lockdown measures in Asia, and supply chain disruptions further impacted first quarter results.
“Higher rig activity in North America and certain international markets, resulting from stronger oil prices, is leading to tangible improvements. We are seeing better volume and pricing for our products and services tied to activity, including drill bits, downhole tools, oilfield pipe inspection and wellsite services. Additionally, improving tendering activity is expected to drive additional capital equipment orders in the second half of 2021.
“NOV has undertaken extraordinary cost reduction measures over the past several quarters while continuing to invest in its next generation of products, leaving the Company well-positioned for a recovery. Global economic growth, shrinking crude inventories, stronger oil and gas prices, and recovering oilfield activity are expected to provide the foundation for a meaningful improvement in financial results as the year progresses,” concluded Williams.
As of 10:44AM EDT. Market open.
Meme Crypto Coin That’s Transforming Multiple Indians into Crorepatis Overnight
Meme crypto assets are clouding the crypto space for quite a while. However, as more and more Indians are getting fascinated with memes, it seems that the market is fortunate for them. Mumbai: Vinod Kumar, 36, a Bengaluru-based venture broker at a private value firm, has seen his “risk portfolio” interest in Shiba Inu coin bounce multiple times in the past two days. Kumar had put twice in the meme crypto coin – when it was valued at ₹0.001215 and afterward when it was at ₹0.002039 half a month prior. After the spray over the most recent two days, Shiba Inu exchanged at around ₹0.005848 Saturday on some crypto trades.
Numerous financial backers worldwide and in India have seen their risk portfolios rise, riding on the meme coin – a sort of digital money – that bounced 70% on Wednesday and 40% on Thursday, said trades.
“We have seen around 35,000 clients purchasing Shiba Inu as of late, which represents a 385% increment in Shiba Inu financial backers. Additionally, the Shiba Inu INR markets saw 5x expansion in return volume,” said Shivam Thakral, CEO at digital currency exchange BuyUcoin. BuyUcoin clients have put $58 million in Shiba Inu since the start of the current convention.
On the whole, trading volumes were fixed at about $600 million across stages in India, said industry trackers. Top reporters let us know that, not at all like prior, when Indians would possibly begin purchasing when worldwide assemblies were concluding, many kept buying the digital currency all through September and October. Jokes ordinarily rouse image coins via web-based media, similar to the case with Dogecoin. Presently Shiba Inu has become one of the most famous crypto resources globally.” Meme coins and altcoins could acquire financial backers’ advantage on the off chance that they keep on conveying attractive returns,” said Jay Hao, CEO, OKEx.com, a cryptographic money trade.
“Simultaneously, clients ought to be exceptionally cautious while putting resources into such cryptos and not set up their resources in one place and consistently enhance their portfolio across different crypto resources,” he said. “Shiba Inu, inferable from the new meeting, has turned into the eighth-biggest crypto on the planet by market cap. At OKEx, we have seen a 5x expansion in Shiba Inu exchanging since the start of the value flood.”
The top trading platform said that Indians kept on purchasing Shiba Inu on Friday. Information from the trades demonstrates that most of the financial backers who brought in cash, as Kumar, haven’t sold their ventures yet, are placing in more money and expecting other highs.
“I will stand firm on the footholds long haul,” said Kumar, who didn’t tell ET the absolute worth of his “hazard portfolio” after the leap in the image coin.
With Bitcoin, Etherum, Solana, and Cardano displaying instability and interest for Shiba Inu expanding on Wednesday, WazirX’s administrations were disturbed for some time on Thursday amid a surge of requests. The exchange said trading volume reached a record of $566 million. Moreover, there are near 15 million crypto-financial supporters in India, holding digital assets worth ₹15,000 crores, as indicated by figures ordered by Indian digital currency trading platforms. All the enormous cryptographic money trades have seen somewhere at the lowest a multiplied worth in trading and speculation beyond a couple of months.
Apart From Bitcoin: AMC Theatres to Announces Allow ETH, LTC, and BCH as Payments, CEO Speaks
America’s largest cinema chain, AMC theatres, says that it will accept payments in more crypto assets except for just BTC. The entertainment giant originally announced that it would accept Bitcoin payments on August 9. In a statement on September 15, Adam Aron, the AMC Chief Executive, said the corporation would be extending the number of cryptocurrencies it would allow as payment methods. Aron affirmed that by the time BTC payments are billowed out ere the point of the year, AMC would also expect to accept Litecoin, Ethereum, and Bitcoin Cash. Adam tweeted that –
“Cryptocurrency enthusiasts: you likely know @AMCTheatres has announced we will accept Bitcoin for online ticket and concession payments by year-end 2021. I can confirm today that when we do so, we also expect that we similarly will accept Ethereum, Litecoin, and Bitcoin Cash.“
While the company’s August wages call, Aron also asserted that clients would also pay through Apple Pay and Google Pay by year’s end. However, neither of the tech oligopolies promotes crypto. At the time, he noted that many of the firm’s new retail investors were highly passionate about cryptocurrency. AMC shares mounted when they became a meme stock supported by retail traders on Reddit’s disgraceful WallStreetBets forum fresh this year. Share values were up a mountainous 2,242% since the year’s inception when they swapped at just 2 dollars. Over the former month, AMC stock has grown 37% to touch 46.86 dollars milestone as of the market close past, according to Yahoo! Finance. AMC stock mounted to an all-time high of 62.55 dollars before departing 25% to current levels in preceding June.
Furthermore, crypto-asset businesses have climbed higher throughout the morning’s Asian trading gathering. CoinGecko is inscribing a 3% increase in cumulative market capitalization, which has developed by 50 dollars billion to touch 2.26 trillion dollars at writing. Ethereum is presently influencing the high cap pack with a profit of 8% on the heyday, forging prices to record a weekly high of 3,675 dollars. ETH requires apparent permanence at the 3,900 dollar level to secure further meaningful gains, while on the downside, they must look for assistance at 3,200 dollars. Bitcoin has calculated 3% on the day to relinquish 48,260 dollars at the time of writing, following a precious cross and negotiating at its most precious level since the September 7 business depreciation.
Bitcoin and the entire crypto market seem unstoppable. As needless to say, Bitcoin was later adopted as legal tender shortly this month by the nation El Salvador. In any case, the world-first move was assailed by early-stage troubles, similar to a furious dissent by suspicious residents, innovative errors, and a dunk in the digital money obfuscated the rollout. The striking examination got off to a rough beginning when soon after midnight, Salvadoran President Nayib Bukele whined the public authority upheld Bitcoin application was not accessible on different Internet stages, including Apple and Huawei.
Top 5 Stock Price Gainers of May 17: US Stock Market
Consumer Automotive Finance, Inc. (OTCMKTS: NWAU)
Consumer Automotive Finance, Inc. (OTCMKTS: NWAU)’s stock price increased by 22.50%. The closing price as of May 16 was $0.0400, over which, the price increased by $0.0090 on May 17. The closing price as of May 17 stands at $0.0490. The opening price was $0.0625, the range was 0.0400 – 0.0625 and the volume was 199,804.
Apellis Pharmaceuticals, Inc. (NASDAQ: APLS)
The stock price of Apellis Pharmaceuticals, Inc. (NASDAQ: APLS) stands at $53.60 as of May 17. The price shows a growth of $8.80(19.88%) over the previous ( May 16) closing price of $44.26. The opening price as of May 17 was $49.01; the day’s range was 48.96 – 54.25. The volume was above average, being 6,234,624.
Globalstar, Inc. (NYSE: GSAT)
Globalstar, Inc. (NYSE: GSAT)’s closing stock as of May 17 stands at $1.3600. The price shows a growth of $0.2200 (19.30%) over the previous ( May 16) closing price of $1.1400. May 17’s opening price was $1.1000 and the day’s range was 1.1000 – 1.3800. The volume was 24,374,234, slightly above average.
Hecla Mining Company (NYSE: HL)
Hecla Mining Company (NYSE: HL)’s stock price increased by a huge amount of 16.53%. The previous price, i.e, May 16’s price was $7.56. The current price as of May 17, is $8.81 which is $1.25 more than the previous closing price. The opening price of May 17 was $7.73. The price range for the day was 7.65 – 8.88; the volume was 23,888,169.
Discovery, Inc. (NASDAQ: DISCB)
$80.18 is the current( as of May 17) stock price of Discovery, Inc. (NASDAQ: DISCB). The price shows a growth of $9.67 (13.71%) over the previous (May 16) closing price of $70.51. The pre-market price as of 4:04AM EDT, May 18 remains the same as the closing price of May 17, $80.18 .
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