GO TO MY PAST POST THE DATE OF EARNINGS I TOLD YOU TO GET OUT. DO YOU PEOPLE LISTEN TO THE CONFRENCE CALL
The call had a lot of negativity. North american drilling is bad and near future desnt look good. Reason is low nat gas prices. Demand for nat gas has to pick up for fracking to get better. I was in at 68 and sold at 72.50. May start a small position at 66 and cost average in.
Was the sell off due more to earnings and future growth/earnings or the lawsuit. The lawsuit if true would have a major impact on the bottom line. Competitors will use this against NOV and customers will negotiate better prices.