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SLB - Core Labs' Problems Could Metastasize To Oil States International
Schlumberger N.V.
Oil States CEO Cindy Taylor. Source: Tudor Pickering
I have been bearish on the U.S. economy and cyclical names like Oil States International (OIS) for a while now. Sometimes it has come at my own detriment. Things could be changing. Core Labs (CLB) recently cut its Q4 earnings forecast. Its comments on the "near-term continued volatility in the U.S. land market" could be of interest to OIS bulls:
Blaming declines in the U.S. rig count and slower-than-expected progress in client discussions for large international and offshore projects, Core Labs said it