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$DO said that it expects 2016 rig operating costs to decline and 1Q16 contract drilling expense to be $205-225MM. Full-year 2016 depreciation expense is estimated to be $420-440MM, down vs. 2Q15, mainly due to the sale of a number of rigs in 2015 and the impairment charges taken in 1Q15 & 4Q15. 1Q16 depreciation cost is expected to be $100-110MM.
What will be an ideal EPS range for $PZZA in its earnings today?
The U.S. Treasury will be receiving $10 billion as dividends from the combined government-backed mortgage giants Fannie Mae and Freddie Mac. This is a sign that a recovered housing market is allowing the once-ailing firms to subsidize federal government spending.