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News Review: Flextronics International Ltd (FLEX), Nabors Industries Ltd (NBR), Noble Corp (NE)

A quiet day for U.S. equities, with the market closing little changed and traders and technicians under the general assumption that the market is taking a breather after the spunky run-up of the previous three weeks.

On the U.S. economic front, the Commerce Department released a report showing that housing starts rose more than expected in September.

The report said housing starts climbed 6.5 percent to an annual rate of 1.206 million in September from the revised August estimate of 1.132 million. Economists had expected housing starts to rise to a rate of 1.147 million.

At the same time, the Commerce Department said building permits tumbled 5.0 percent to an annual rate of 1.103 million in September from 1.161 million in the previous month.

The major averages bounced back and forth across the unchanged line before finishing the day in the red. The Dow edged down 13.43 points or 0.1 percent to 17.217.11, the Nasdaq slid 24.50 points or 0.5 percent to 4,880.97 and the S&P 500 dipped 2.89 points or 0.1 percent to 2,030.77.

The choppy trading on Wall Street came as traders seemed uncertain about the near-term direction of the markets following recent volatility.

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Flextronics International Ltd (NASDAQ:FLEX) showed bullish movement during previous trade, has ended its day with a gain of +5.27% to $11.79, after opening at $12.00. A total of 10.23 million shares was exchanged during its last trading session, as compared to its average volume of 3.09 million shares. During the previous session, the company’s minimum price was $11.75, while it touched its highest price for the day at $12.10. Flextronics International Ltd (NASDAQ:FLEX) on October 19 declared results for its second quarter ended September 25, 2015. Flex’s net sales for the second quarter ended September 25, 2015 were just over $6.3 billion, above the mid-point of its previously provided revenue guidance of $5.9 billion to $6.5 billion. The Company’s adjusted earnings per diluted share of $0.27 was towards the high-end of the Company’s previously provided guidance of $0.22 to $0.28. Second quarter adjusted operating income increased 7% year-over-year to $196 million and was above the midpoint of the guidance range of $165 to $205 million. Adjusted operating margin expanded 30 basis points year-over-year to 3.1%.

What was the Moving Force behind FLEX On Bullish Run? Read This Research Report on FLEX

Nabors Industries Ltd (NYSE:NBR) added +5.16%, to close at $10.60, with the overall traded volume of 10.34 million shares. During last trade, the company’s minimum price was $9.91, while it touched its highest price of $10.68. Its market capitalization was $3.50 billion. Its beta value stands at 2.54 times. The stock has the total of 330.63 million outstanding shares. Nabors Industries Ltd (NYSE:NBR) invited you to join Anthony G. Petrello, Chairman and Chief Executive Officer and William Restrepo, Chief Financial Officer, Wednesday, October 28, 2015 at 10:00 a.m. Central Time for a discussion of operating results for the third quarter 2015.  Nabors will release earnings after the market closes on October 27, 2015. Nabors will have a live audio webcast of the conference call available on its website at www.nabors.com. Navigate to the Investor Relations page and then select Events Calendar to join the webcast.

For How Long NBR will Fight for Profitability? Read This Trend Analysis report

Noble Corp (NYSE:NE) moved +5.00% up during prior trade and closed at the price of $13.02, after opening at $12.41. Stock traded during its last trading session with the total volume of 10.21 million shares, as compared to its average volume of 10.31 million shares. During the previous session, the company’s minimum price was $12.36, while it touched its highest price for the day at $13.18. Noble Corp (NYSE:NE) on October 15 stated that its report of drilling rig status and contract information has been updated as of October 15, 2015.  The report, titled “Fleet Status Report,” can be found on the Company’s Web site www.noblecorp.com, under the “Investor Relations” section of the Web site.

For How Long NE’s Gloss will Attract Investors ? Find out via this report

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