Stock News Buzz: Rowan Companies plc (NYSE: RDC)

Rowan Companies plc (NYSE: RDC) reported change of -0.95% to $11.45 with the recent traded volume of 2337422 shares in most recent trading session compared to an average volume of 2772.88K. The stock was changed with -1.04% over last five days period.

 The one month performance of stock was noted at 43.66%. RDC’s shares are moving at -36.21% for the quarter and managed a -29.32% return over the course of the past year and is now at 36.47% since this point in 2018. 

Rowan Companies plc (NYSE: RDC) publicized that it has convened and adjourned the Company’s Court and General Meetings. The meetings were previously scheduled to approve resolutions relating to the transaction with Ensco plc (NYSE: ESV) (“Ensco”) entered into on October 7, 2018.

As previously announced, in consultation with its financial and legal advisors, the Rowan Board of Directors continues to review Ensco’s revised proposal received on January 14, 2019. The Board intends to take the time it needs to determine the course of action that it believes is in the best interest of Rowan and its shareholders. The Rowan Board will respond to Ensco’s proposal in due course following its review.

Following the completion of the Board’s review, the Company will announce the date and times at which the Court and General Meetings will be reconvened in order to provide Rowan shareholders with sufficient time to make an informed decision.

Goldman Sachs & Co. LLC is serving as financial advisor and Kirkland & Ellis LLP is serving as legal advisor to the Company.

 The stock beta value is 2.45. RDC stock changed at -21.90% distance from its 200-day moving average. On a similar note, the stock marked distance of -3.66% from its 50-day moving average and moved 14.43% away from its 20-day moving average. The average volatility for the week and month was at 4.37% and 6.46% respectively. Its quarter to quarter sales remained -33.80% and sales observed at -1.60% over past 5 years. The company holds 127.1 million shares outstanding and 124.75 million shares are floated in market.

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