- Schlumberger (SLB -0.6%) kicked off Q2 oil service earnings, beating expectations with a generally positive take on the domestic and international markets, but it is not enough to provide a boost in trading for the broader sector as investors focus on the macro environment.
- Piper Jaffray analyst Bill Herbert sees Q2 results as "considerably better" than expectations but free cash flow was the "lone blemish" in the quarter.
- Wells Fargo (NYSE:WFC)'s Jud Bailey says SLB’s strong North American results are positive for peers including Halliburton (HAL -1.6%), as well as small-cap servicers such as C&J Energy (CJ -5.3%), RPC Inc. (RES -2.9%), Superior Energy Services (SPN -6.4%) and Keane Group (FRAC -3.8%).
- Seaport Global's Mike Urban thinks SLB's signs of life in international markets are a very positive read-through for HAL, but SLB is being "mum on the macro," which investors could interpret negatively.
- Source: Bloomberg First Word
- Now read: Schlumberger: I Am Pretty Amazed
Original article