McDermott International News

AT&T Solutions announced last week that it has been granted a 10-year managed services contract from global energy concern McDermott International, marking the first time the carrier will bundle computing services into its outsourcing package.

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MDR ) received a major subsea contract from Murphy Sabah Oil Co., Ltd. Although none of the companies disclosed the financial terms of the deal, McDermott has included the contract's value in its first quarter 2012 backlog.

Morgan Stanley JPMorgan's trading loss troubles, which brought the shares down nearly 10.0% this morning, weighed heavily on Morgan Stanley as well.

NEW YORK - Stocks that moved substantially or traded heavily Friday on the New York Stock Exchange and Nasdaq Stock Market: NYSE JPMorgan Chase & Co., down $3.78 at $36.96 The bank said that it lost $2 billion in a trading portfolio designed to hedge against risks the firm takes with its own money.

McDermott International reports feeling "comfortable" that FY revenue will come in in the mid-$3B range .

The 10-second takeaway For the quarter ended March 31 , McDermott International whiffed on revenues and beat expectations on earnings per share.

MDR ) closed the previous trading session at $9.89, gapping up to open at $10.88 today.

The Dow Jones Industrial Average is up 53 points, or 0.4%, as the University of Michigan/Thomson Reuters consumer sentiment index notched its best reading since January 2008.

McDermott International shares topped out at around $15 in early March, but the European debt crisis and declining oil prices have sent this stock sharply lower.

McDermott International Inc's first-quarter profit handily beat analysts' estimates on lower costs and the engineering company said backlog increased by a fifth, sending its shares up 8 percent in extended trade.

Babcock & Wilcox has reported mixed results since it spun off from McDermott International Inc.

McDermott International, Inc. announced that its Malaysian affiliate Berlian McDermott Sdn.

The firm currently has a $16.00 target price on the stock. Shares of McDermott International traded up 1.20% during mid-day trading on Monday, hitting $10.09. McDermott International has a one year low of $9.34 and a one year high of $23.56. The company has a market cap of $2.372 billion and a P/E ratio of 17.01. McDermott International last ... (more)

The value size of the contract will be disclosed in the Houston-based energy service company's second quarter 2012 backlog, the company said.