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November 12, 2012
17:47 EDTWFTWeatherford: Income tax adjustments for prior years subject to change
Until the restatement is completed, the company's estimates of the expected income tax accounting adjustments for 2011 through 2008 and prior years, and the nine months ended September 30, 2012, are subject to change. There can be no assurance that additional income tax accounting issues will not be identified during the course of the review and audit process and, therefore, these results should be considered preliminary until the company files its Form 10-K/A for the year ended December 31, 2011, Form 10-Q/A for the quarter ended March 31, 2012, and Form 10-Q for the quarters ended June 30 and September 30, 2012. Any changes to the preliminary, unaudited estimated results provided, as well as additional items that may be identified during the completion of the review and audit processes, could be material to the company's financial condition and results of operations for the prior periods identified. Management continues to assess the effect of the restatement on the company's internal control over financial reporting for income taxes and its related disclosure controls and procedures. Management will report its final conclusion on internal control over financial reporting for income taxes and related disclosure controls and procedures upon completion of the restatement process.
News For WFT From The Last 14 Days
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April 24, 2015
10:00 EDTWFTOn The Fly: Analyst Downgrade Summary
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09:01 EDTWFTWeatherford downgraded at Sterne Agee
As noted earlier, Sterne Agee downgraded Weatherford to Neutral from Buy. The firm downgraded the stock on valuation. Target $15.
08:14 EDTWFTWeatherford shares should be bought on weakness, says Oppenheimer
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06:56 EDTWFTWeatherford downgraded to Neutral from Buy at Sterne Agee
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April 23, 2015
10:25 EDTWFTWeatherford trades up after results
Shares are up over 6% to $14.22 at time of writing. At that price next resistance is at $14.75, a recent pivot high. Support is at $13.80.
09:22 EDTWFTWeatherford says planning to build 'talent bench' during downturn
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09:04 EDTWFTWeatherford expects to return to profitability for North America in 2H
08:59 EDTWFTWeatherford sees positive cash flow in Q2, FY15
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April 22, 2015
19:00 EDTWFTWeatherford reports increased cost reduction initiatives
Weatherford's headcount at the end of Q1 dropped to 49K from 56K at the start of the year. The company's current 18% headcount reduction goal for the year will leave it with about 39K employees in its core businesses and 6K rig employees. The company has increased its 2015 reduction in force exercise to target 10K positions, in place of the previously announced 8K, with the bulk of the increase coming in North America. By the end of Q1, 6,449 terminations had been completed resulting in expected annualized savings of over $422M. The company expects to complete the entire revised program of 10K terminations by the end of Q2 generating expected annualized savings of $640M. The company had also planned to shut down seven manufacturing facilities during the year. Of these, two were closed in Q1 with four more planned for Q2 and the seventh being targeted for closure in Q3. Separately, the company plans to shut down and consolidate 60 operating facilities across North America by the end of the year. The procurement savings initiative is on track.
18:54 EDTWFTWeatherford reports Q1 non-GAAP EPS (4c), consensus 1c
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15:30 EDTWFTNotable companies reporting after market close
Notable companies reporting after the market close, with earnings consensus, include eBay (EBAY), consensus 70c... Facebook (FB), consensus 40c... Texas Instruments (TXN), consensus 62c... Las Vegas Sands (LVS), consensus 72c... Qualcomm (QCOM), consensus $1.33... AT&T (T), consensus 62c... F5 Networks (FFIV), consensus $1.50... Plexus (PLXS), consensus 69c... Skechers (SKX), consensus $1.01... Select Comfort (SCSS), consensus 41c... Tractor Supply (TSCO), consensus 41c... Covanta (CVA), consensus (8c)... Crown Castle (CCI), consensus $1.09... Torchmark (TMK), consensus $1.05... Ameriprise (AMP), consensus $2.33... Polycom (PLCM), consensus 21c... Citrix (CTXS), consensus 65c... Core Laboratories (CLB), consensus 85c... Graco (GGG), consensus 78c... Cheesecake Factory (CAKE), consensus 48c... Equifax (EFX), consensus $1.02... SLM (SLM), consensus 7c... Xilinx (XLNX), consensus 50c... O'Reilly Automotive (ORLY), consensus $1.94... Susquehanna (SUSQ), consensus 18c... Raymond James (RJF), consensus 83c... SL Green Realty (SLG), consensus $1.49... CoreLogic (CLGX), consensus 31c... Oceaneering (OII), consensus 62c... Valmont (VMI), consensus $1.49... Brandywine Realty (BDN), consensus 32c... Weatherford (WFT), consensus 1c.
April 17, 2015
08:29 EDTWFTU.S. may be at, or near, peak oil output, WSJ says
New data and forecasts suggest lower crude prices are finally prompting U.S. energy companies to cut back their crude output, according to The Wall Street Journal, citing reports from OPEC, the DOE and North Dakota. Publicly traded oil majors include BP (BP), Chevron (CVX), ConocoPhillips (COP), Exxon Mobil (XOM), Royal Dutch Shell (RDS.A) and Total (TOT). Publicly traded drillers and oil services companies include Baker Hughes (BHI), Diamond Offshore (DO), Halliburton (HAL), Nabors Industries (NBR), Noble Corp. (NE), Rowan Companies (RDC), Schlumberger (SLB), Transocean (RIG) and Weatherford (WFT). Reference Link
April 16, 2015
09:34 EDTWFTWeatherford downgraded to Neutral from Accumulate at Global Hunter
April 15, 2015
08:58 EDTWFTOil services stocks should be bought on dips, says BMO Capital
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06:16 EDTWFTOil layoffs reach 100,000 and still going, WSJ reports
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