Pritchard Capital's Morning Intelligence (ELON HAL ITRI RIG SDRL)
Pritchard Capital is out with its daily Morning Intelligence report. In today's report, Pritchard covers Echelon Corporation (NASDAQ: ELON), Halliburton Company (NYSE: HAL), Itron, Inc. (NASDAQ: ITRI), Transocean LTD (NYSE: RIG), and Seadrill Limited Ordinary Shares (Bermuda) (NYSE: SDRL).
In the report, Pritchard notes that Seadrill reported in line earnings and raised its dividend to a 10.3% yield.
On Transocean, there is a report from an industry source that Eni (NYSE: E) ($39.30-NR) is moving the Transocean Marianas, a 7,000’ moored 4th gen. semi, out of the GOM to Nigeria under its existing charter.
Halliburton was awarded another contract by Eni for integrated services in the Zubair field in southern Iraq.
With regards to Itron and Echelon, Pritchard writes, "It is a very large U.S. market for smart meters and ITRI ($54.25-B-$76) and ELON ($7.62-B-$12) are also focused on Europe, but Silver Spring appears to be a very formidable competitor in the U.S. In our opinion, an economic recovery in Europe would boost ITRI shares and another win in the U.S. is the catalyst ELON needs."
