Noble: No notable corporate news on the outperformance recently. We note that substantial shareholders, Invesco and Orbis, raised their stakes over the open market between $1.16-$1.19 per share, recently.
Strong 4Q results expected, which will be released on 26 Feb, against last year’s low base (est. net profit of US$150m, vs 3Q13: US$23m, 2Q14: US$66m).
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