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Stock Market & Financial Investment News

News Breaks
July 23, 2014
09:11 EDTFIFrank's International downgraded to Accumulate from Buy at Tudor Pickering
News For FI From The Last 14 Days
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September 29, 2015
11:52 EDTFICore Labs drops 8% after outlining impact of lower activity on Q4 view
Shares of Core Laboratories (CLB) are moving lower after the oil services and equipment company disclosed that its Chairman and CEO will address Q4 industry activity and its possible impact on our previously given guidance while presenting at a conference. According to the company, Core Laboratories CEO David Demshur plans to state that Core is now seeing a weakening environment in Q3 industry activity, but no change to its Q3 EPS guidance. Core now projects a significant decrease in Q4 operating activities, especially in North American tight oil plays due to E&P budget constraints and lower free cash flow levels for E&P companies due to low commodity prices, Demshur will add. Core now projects U.S. production to fall more than 700k bopd by year-end 2015, the executive will state. Demshur also plans to state: "Should oilfield activity levels head lower in Q4, especially in North America, Core may need to right size its cost base once again. The slowing activity level is anticipated to be significant, so the Company is currently reducing cost levels to maintain operating margins and returns on invested capital going into 2016." In late morning trading, Core Laboratories dropped 8% to $93 per share. Peer Franks International (FI) is also down 1.4% in late morning trading.
September 28, 2015
07:25 EDTFIJohnson Rice to hold a conference
2015 Johnson Rice Energy Conference is being held in New Orleans, Louisiana on September 28-30.

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