Schlumberger says its starting to feel the pain of the U.S. and European Union’s sanctions on Russia. The world’s largest oilfield services provider said third-quarter earnings could be lower by as much as three cents. That’s because penalties are restricting the engagement of people and equipment in its Russian operations, according to the company. That sent shares down one percent to $107.87.
Boeing & United Technologies
Boeing has been selected with United Technologies Sikorsky unit to build prototypes of helicopters for the U.S. Army. The first flight of the helicopter is expected in 2017. The value of the contract wasn’t disclosed. Shares of Boeing were down slightly, despite the news, to $120.47. Shares of United Technologies also fell a fraction to $104.91.
Mortgage servicer, Ocwen Financial, warned that it might have uncovered material weakness in its accounting methods. In a regulatory filing, the company said it would restate financial statements for the last year and the first quarter because of the issues. The stock tumbled about five percent to $25.16.
Dendreon tumbled to its lowest level ever after it warned that there is a significant risk that it will not be able to repay debt that’s maturing in 2016. The drug developer said ts considering alternatives to repaying the debt, including options that leave shareholders with little or no ownership in the company. Shares of the small-cap stock plunged about 34 percent to $1.40.
Insys Therapeutics saw its shares climb on better-than-expected second-quarter earnings. The drug company said its cancer pain treatment helped bolster the results. The stock was up nearly five percent to $31.85.
Exact Sciences got the okay from the Food and Drug Administration to sell its home colon cancer test, the first of its kind to be cleared by regulators. Colon cancer is one of the most common forms of cancer in the U.S. and this test gives patients another options for screening. The stock popped two percent to $17.46.
King Digital, the maker of popular Candy Crush Saga game got crushed in after-hours trading. The social and mobile game maker reported earnings that met forecasts, but sales were below estimates and the company lowered its full-year outlook. It blamed weakness in Candy Crush sales. After the bell, shares initially plunged by more than 20 percent. During regular trading, shares were up slightly to $18.20.