National Oilwell Varco (NOV -4.1%) posted better than expected Q3 profits and enjoyed solid...

National Oilwell Varco (NOV -4.1%) posted better than expected Q3 profits and enjoyed solid demand for deepwater equipment, but shares are down sharply on worries about the stalled U.S. land drilling market. Demand for NOV's products and services continued to grow in international markets, but softened in North America, which accounts for half its revenue.

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Comments (4)
  • dunnhaupt
    , contributor
    Comments (1523) | Send Message
    NOV just made several profitable acquisitions. I used this as buying opportunity and bought even more NOV this morning. NOV is still rated "strong buy".
    25 Oct 2012, 01:01 PM Reply Like
  • Momintn
    , contributor
    Comments (5690) | Send Message
    NOV sitting on 200 dma. Strange that today Bloomberg keeps repeating a negative news article on Novo that shows up on other sites for NOV. Hope some computer didn't stuff sell orders on the wrong stock. Seems like NOV went down on a previous ER that was also good. Someone needs to look into this.
    25 Oct 2012, 05:32 PM Reply Like
  • Likely Gaseseses
    , contributor
    Comments (251) | Send Message
    It seems, as usual, Wall Street over-reacted and under-thought. As Momintn says, when Mr. Market throws a hissy-fit (probably magnified by traders using scare tactics) you get a buying opportunity.


    I also added as it dropped more than $3. It's good either for a short term trade as Mr. Market regains his senses or as a nice entry point for a longer term investment.


    The options were slower to react and you can increase your trade profit by waiting for more of price recovery and then selling calls, in, at or out of the money depending on your interest in a quick profit or adding to long term gains.


    Volatility can be your friend.
    25 Oct 2012, 07:28 PM Reply Like
  • Klimbim
    , contributor
    Comments (127) | Send Message
    Interesting to note, that while the vast majority of US oil requirements are imported, the North American land drilling industry represents
    50% of their turnover. Does this mean that NOV has a poor presence overseas, or are the Canadians huge customers?
    25 Oct 2012, 11:11 PM Reply Like
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