Nabors Industries (NBR +3.9%) powers higher, as its warning of weaker than expected Q2 earnings...

|About: Nabors Industries Ltd. (NBR)|By:, SA News Editor

Nabors Industries (NBR +3.9%) powers higher, as its warning of weaker than expected Q2 earnings is not a surprise. "E&P companies are extracting significant pricing concessions to the detriment of oilfield services companies," Simmons analyst Bill Herbert says, citing a "significant compression" in oil prices threatening the oil drilling boom that has buoyed the entire industry.