Duncan-Williams Drops Coverage of Pride International

Duncan-Williams dropped its coverage of Pride International (NYSE: PDE) after the company has been taken over by ENSCO (NYSE: ESV).

In a research report published today, Duncan-Williams states, "We are dropping coverage of Pride International, Inc. ENSCO (NYSE : ESV : Strong Buy rating) announced the closing of the acquisition of Pride on May 31, 2011."

On Tuesday, ENSCO lost 1.24% of its value to close the day at $53.32. Its shares regained some of Tuesday's losses in today's pre-market trading, however, rising 0.79% to $53.74.