Oil equipment suppliers Schlumberger (SLB +2.2%) and Lufkin (LUFK +3.3%) are advancing after...

|About: Schlumberger Limited (SLB)|By:, SA News Editor

Oil equipment suppliers Schlumberger (SLB +2.2%) and Lufkin (LUFK +3.3%) are advancing after Howard Weil upgrades their shares (I, II). While land drilling servicers have seen earnings numbers adjusted lower over the last month, the firm thinks the earnings picture looks brighter in oilfield equipment and offshore drilling, where fundamentals continue to improve.