Aug 1, 2013

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Investors Watch List: Omnicom Group Inc (NYSE:OMC) and Hercules Offshore (NASDAQ:HERO)

Investors Watch List: Omnicom Group Inc (NYSE:OMC) and Hercules Offshore (NASDAQ:HERO)

French finance minister, Pierre Moscovici, reported on Wednesday that Publicis Groupe SA and Omnicom Group Inc (NYSE:OMC) primarily intended to have a single headquarters in New York as an element of their mega-merger, a move that would have taken away the center of one of France’s biggest firms.

The plan was to have a headquarters in the US, but that was turned down, Mr. Moscovici reported on French radio RTL.

Hercules Offshore Inc. (NASDAQ:HERO) reported that second-quarter loss declined, as the oil rig firm declared robust revenue amid dayrate enhancement, though again witnessed critical one-time costs that pushed down results.

Hercules declared a loss of $27.4 million, or 17 cents per share, in contrast with a year-ago loss of $55.1 million, or 35 cents per share.

Experts polled by Thomson Reuters lately estimated a revised profit of five cents per share on revenue of $225 million.

Domestic offshore revenue increased 41%, to $127 million, as dayrates enhanced. Utilization plunged to 88.8%, from 90.5%. International offshore revenue jumped 62%, to $48.8 million, as both utilization and dayrates enhanced. The utilization rate climbed to 78.1%, as compared to 51.6%.

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