I’m long Pride (PDE), Transocean (RIG) and Flowserve (FLS), says Finerman.

From a recent Mad Money show:

"There is so much drilling going on; I want to own a contract driller. We will see some pain now, but the gains will be coming."

From a recent Mad Money show:

"There is so much drilling going on; I want to own a contract driller. We will see some pain now, but the gains will be coming."

Pride International (PDE) was upgraded from Underperform to Buy at Merrill Lynch. $44-$55 price target. PDE's transition to a pure deepwater play is commanding a premium multiple and upside M&A potential.

Pride International (PDE) was downgraded from Market Perform to Underperform at Wachovia. Pride will most likely underperform the mean return of covered offshore drillers in either direction, and could depreciate even if the universe trades up.

Deutsche downgraded seven offshore drillers. RIG and ESV were downgraded to Sell, Deutsche Bank said. Ratings on DO, HERO, NE, PDE and RDC were also cut to Hold, as the stocks are already pricing in several quarters of strong results.

excellent growth story

50 shares at 36.55

0.37

Activist investing--already had interest

Icahn dumped it