National Oilwell Varco (NOV -4%) slides despite beating Street numbers for Q4 earnings and...

|About: National Oilwell Varco, Inc. (NOV)|By:, SA News Editor

National Oilwell Varco (NOV -4%) slides despite beating Street numbers for Q4 earnings and revenues, as weaker operating margins in the rig technology segment, NOV's largest, eliminated some of the revenue strength. COO Clay Williams says in the conference call that competitive forces have kept prices for new drilling equipment packages "stubbornly" 8%-10% below 2007-08 prices.