|Bid||32.30 x 1100|
|Ask||32.34 x 4000|
|Day's Range||32.09 - 33.20|
|52 Week Range||30.65 - 58.61|
|Beta (3Y Monthly)||1.97|
|PE Ratio (TTM)||21.68|
|Earnings Date||Jan 16, 2020 - Jan 20, 2020|
|Forward Dividend & Yield||2.00 (6.47%)|
|1y Target Est||45.08|
Boeing Co and Johnson & Johnson shares led both the S&P 500's and the Dow's declines. Today's market weakness "has to do with (GDP) news out of China, Boeing and Johnson & Johnson," Cardillo added, saying "market sentiment in terms of earnings is positive."
Boeing Co and Johnson & Johnson shares led the blue-chip Dow's decline. Third-quarter earnings season has hit full stride, with 73 companies in the S&P 500 having reported.
Schlumberger, the big oil-services company, disclosed a major write-down of assets, but its operating earnings came in higher than Wall Street expected.
(Bloomberg) -- Wall Street guessed that writedowns from Schlumberger Ltd. were coming, but some analysts were taken aback by the sheer size of the $12.7 billion in pretax charges reported by the oil services company on Friday.The company’s earnings report was its first since Chief Executive Officer Olivier Le Peuch took the reins in August. The writedowns led the company to post its largest net quarterly loss in at least a decade. Schlumberger said on its earnings conference call that the writedowns were part of the new CEO’s strategy.The size of the charges was “eyebrow-raising,” analysts at Tudor, Pickering, Holt & Co. said in a note after the report was released. “Better to rip Band-Aid off sooner vs. later.”Nonetheless, net income excluding one-time items was 43 cents a share, exceeding all 27 estimates from analysts in a Bloomberg survey. Schlumberger’s stock climbed as much as 4.1% in New York trading and was up 2.3% to $32.62 at 11:39 a.m. Eastern time. Most of the charges -- $8.8 billion -- comprised writedowns on goodwill, the intangible asset on a corporate balance sheet that typically arises after the acquisition of another company. Schlumberger cited its 2010 purchase of Smith International Inc. and its takeover of Cameron International Corp. in 2016, and the subsequent deterioration in market conditions.Schlumberger also reported a $1.58 billion charge related to its pressure-pumping business in North America, where the fracking industry is slowing. Citing “ongoing economic challenges in Argentina,” it recorded $127 million of charges due to its activities in the country. It also had $62 million of severance costs in the quarter.(Adds comparison to estimates and share price in fourth paragraph)To contact the reporters on this story: Simon Casey in New York at email@example.com;David Wethe in Houston at firstname.lastname@example.orgTo contact the editors responsible for this story: Simon Casey at email@example.com, Joe Carroll, Christine BuurmaFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
Wall Street struggled for direction on Friday as upbeat earnings reports calmed nerves about the global economy after China expanded at its weakest pace in almost 30 years, with Johnson & Johnson also weighing on the blue-chip Dow index. While global equities fell on the third-quarter data, a raft of robust earnings from Coca-Cola Co and Schlumberger NV lifted the mood.
Schlumberger stock is having trouble holding onto its post-earnings gains. But as long as it doesn't hit new lows, the stock may have bottomed.
Wall Street was set to open flat on Friday, as upbeat earnings reports calmed nerves about the global economy after China expanded at its weakest pace in almost 30 years. While global equities fell on the third-quarter report, a raft of robust earnings from Coca-Cola Co, American Express Co and Schlumberger NV lifted the mood.
Schlumberger (SLB) delivered earnings and revenue surprises of 7.50% and 0.67%, respectively, for the quarter ended September 2019. Do the numbers hold clues to what lies ahead for the stock?
Schlumberger NV beat Wall Street estimates for profit on Friday, in the first quarter under Olivier Le Peuch, as higher international drilling activity boosted demand for its equipment and services and helped counter weakness in North America. The international business has been a bright spot for the world's largest oilfield services provider since last year as investor pressure to improve returns has forced North American oil and gas producers to rein in drilling new wells in a volatile price environment. Le Peuch, who took charge in July, has outlined plans to accelerate digital investments, restructure his predecessor Paal Kibsgaard's major initiatives and resize the company's North American onshore operations.
Shares of Schlumberger Ltd. rallied 1.3% in premarket trading Friday, after the oil services company reported a large third-quarter net loss, but an adjusted profit and revenue that beat expectations. The net loss was $11.97 billion, or $8.22 a share, after income of $787 million, or 46 cents a share, in the year-earlier period. Excluding non-recurring items, such as a $12.7 billion charge related to goodwill, intangible assets and fixed assets as a result of "market conditions, adjusted earnings per share came to 43 cents, above the FactSet consensus of 40 cents. Revenue was edged up to $8.54 billion from $8.50 billion, just above the FactSet consensus of $8.50 billion, as an 11% drop in North America revenue was offset by 8% growth in international revenue. "This quarter's results reflected a macro environment of slowing production growth rate in North America land as operators maintained capital discipline, reducing drilling and frac activity," said Chief Executive Olivier Le Peuch. Although international revenue continues to be underpinned by international investment levels, Le Peuch said "market uncertainty" is weighing on the future oil demand outlook " in a climate where trade concerns are seen as challenging global economic growth." The stock has tumbled 17.8% over the past three months, while the VanEck Vectors Oil Services ETF has dropped 19.0% and the S&P 500 has ticked up 0.1%.
Oilfield services provider Schlumberger NV on Friday reported a quarterly loss, compared with a profit a year earlier, as it recorded a goodwill impairment charge of over $12 billion. The company reported net loss of $11.38 billion, or $8.22 per share, in the third quarter ended Sept. 30, compared with a net profit of $644 million, or 46 cents per share, a year earlier. This is the company's first report under new boss Olivier Le Peuch, who last month vowed to exit unprofitable businesses, restructure some units and focus on returns.
HOUSTON-- -- Worldwide revenue of $8.5 billion increased 3% sequentially International revenue of $5.6 billion increased 3% sequentially North America revenue of $2.8 billion increased 2% sequentially GAAP loss per share, including charges of $8.65 per share, was $8.22 EPS, excluding charges, was $0.43 representing a 23% sequential increase Cash flow from operations was $1.7 billion and free cash flow ...
Schlumberger Ltd. reported Q3 Non-GAAP EPS of $0.43 this morning which beat by $.03 and revenue came in at of $8.54 billion (+0.5% Y/Y), also better than expected according to media reports. The energy sector has been beaten down the past several months as crude oil prices have been weak. In this daily bar chart of SLB, below, we can see bottoming price action with SLB holding in August and October.
Some oil wells come up bone dry. Schlumberger’s foray into US onshore oil services did just that. The Houston oilfield services giant has announced a $12.7bn charge for the third quarter partly for past acquisitions. As a result, Schlumberger plunged to a $11.4bn net loss for the period, its biggest in over a decade.
Schlumberger reports third-quarter adjusted earnings that top analysts' estimates as international growth offsets weakness in North America.
Despite its No. 1 spot on the Houston Business Journal's 2019 Largest Houston-Area Energy Employers List, Irving, Texas-based Exxon Mobil Corp. (NYSE: XOM) has seen a large drop off in global revenue since 2014. The company reported a global revenue of $279.33 billion in 2018, a 32 percent decrease since 2014, when it reported $421.11 billion in global revenue. The company’s lowest reported revenue was in 2016, when it reported $218.61 billion.
Investing.com -- China's economy grew at its slowest rate in nearly 30 years in the third quarter, and Boris Johnson is battling to get his Brexit deal through a recalcitrant House of Commons, while Saudi Arabia has postponed the IPO of national company Saudi Aramco - again. Here's what you need to know in financial markets on Friday, 18th October.
Schlumberger took a $12.7bn impairment, mostly related to its 2010 takeover of drilling equipment maker Smith International, driving the world’s biggest oilfields services group to a reported net loss in a third quarter characterised by increased market uncertainty. The pre-tax charge, which had been previously flagged, comes as chief executive Olivier Le Peuch attempts to steer the company through a divergence in the global oil industry this year between solid growth in international markets and a more uncertain outlook for North America as the shale boom cools.
Wall Street guessed that writedowns from Schlumberger were coming, but some analysts were taken aback by the sheer size of the $12.7B in pretax charges reported.
Wood, a Scotland-based provider of project, engineering and technical services for the energy sector and other industries, has named a new CEO of its Americas business. Stephanie Cox has been named to the position, which is based in Houston, according to a press release. A 28-year veteran of Schlumberger Ltd. (NYSE: SLB), Cox most recently served as president of Schlumberger's North America land drilling business.