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Forest Oil (FST -6.5%) slumps after providing announcing Q2 sales volumes and issuing 2H...

Forest Oil (FST -6.5%) slumps after providing announcing Q2 sales volumes and issuing 2H production and capex guidance. 2H net sales volumes are expected to decline 2%-5%, as declining natural gas production offsets increasing crude production. Capex is expected to drop 52%-56% to $190M-$210M, as Forest dials back its Eagle Ford shale investments. RBC is downgrading shares to Sector Perform in response. (PR)
Comments (2)
  • Will FST regain some respect?
    10 Jul 2012, 02:03 PM Reply Like
  • It has hit the rock bottom today. Expect it to fluctuate over 6.20 for a while but I am expecting it to get to 6.70 range tomorrow. I expect it to more than double its value in December. I have been buying in large quantities in the last couple of days to recover my losses elsewhere.
    11 Jul 2012, 12:25 AM Reply Like
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