Petrobras Awards 3 Contracts to Subsea 7 and 2 More Heavily Traded Stocks To Follow

Petroleo Brasileiro – Petrobras (NYSE:PBR): Current price $12.29

Brazil’s state-run energy major has awarded three contracts to the Norwegian oilfield services firm Subsea 7 SA. Through the terms of the approximately $1.6 billion deal, Subsea 7 will build and operate three new-build flexible pipe-lay support vessels. Included in the operations will be engineering and project management services, and also the installation of flowlines, umbilicals, and tools. The contract period for each of the three developments will last five years. The three PLSVs are planned for construction at the IHC Merwede shipyard in Holland, and should be delivered by the third quarter of 2016, fourth quarter of 2016, and second quarter of 2017, respectively.

PBR

Micron Technology, Inc. (NASDAQ:MU): Current price $12.55

The provider of advanced semiconductor solutions announced Wednesday an upcoming webcast that will give an update on growth at its solid state drive division. Vice President Glen Hawk of Micron’s NAND Solutions Group will talk about the firm’s position and view of the market. Also speaking are Vice President Allen Holmes of NAND Solutions Group Marketing, and Vice President and Chief Memory Systems Architect Edward Doller, who will both comment on Micron’s SSD engineering and marketing roadmap on Thursday, July 18, at 3:00 p.m. Eastern Time.

MU

Bank of America Corp. (NYSE:BAC): Current price $13.37

The State of Massachusetts has sent subpoenas to 15 brokerages — which include divisions of Bank of America Corp., Morgan Stanley and Wells Fargo & Co. –  as part of its inquiry into alternative-investment sales to seniors. The investigation will look at how investments like oil and gas partnerships, real-estate investment trusts, private placements, and structured products are marketed to seniors, according to Secretary of the Commonwealth William Galvin in a Wednesday statement. Galvin also commented that “While these products are not unsuitable in and of themselves, they are accidents waiting to happen when they are sold to inexperienced investors by untrained agents who push the products to score the large commissions.”

BAC

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