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Parker Drilling Q4 Loss Widens

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Parker Drilling Co. (PKD: Quote) reported that its fourth-quarter loss widened to $90.2 million or $0.77 per share from $13.4 million or $0.12 per share in the same quarter a year earlier.

Revenue rose 4.5% to $181.1 million from the year-earlier quarter.

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by RTT Staff Writer

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While buying interest has remained somewhat subdued, stocks are seeing modest strength in mid-day trading on Thursday. The slim gains on the day have lifted the S&P 500 to a new record intraday high above the 1,990 level. New home sales in the U.S. showed a notable decrease in the month of June, according to a report released by the Commerce Department on Thursday, with the steep drop offsetting the jump seen in the previous month. After reporting a modest drop in first-time claims for U.S. unemployment benefits in the previous week, the Labor Department released a report on Thursday showing that initial jobless claims unexpectedly fell to their lowest level in over eight years in the week ended July 19th.
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