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Weatherford International Ltd.

5/23/2013, 8:24 PM ET

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Friday, May 3, 3:37 PM Shares of Weatherford (WFT +8%), which reported mixed Q1 results, surge after analysts are told in today's conference call that H2 should show modest growth in North America revenues and operating income, and plans to improve profitability are taking hold. WFT "did a good job of putting away concerns” such as costs, one analyst says, as it cut capex guidance to 8%-10% of total revenue, down from 8%-12%. 1 Comment [Energy, On the Move]
Thursday, May 2, 5:42 PM More on Weatherford's (WFT) Q1 results: Took a $61M charge due to foreign exchange losses from the devaluation of the Venezuelan bolivar. Operating margin narrowed to 7.3% from 10.3%. North America revenues were $1.69B, -4% Y/Y; international revenues were $2.14B, +17%. Expects H2 2013 to show modest growth in North America revenues and operating income. Shares -2.2% AH. Comment! [Energy, Earnings, On the Move]
Thursday, May 2, 5:22 PM Weatherford (WFT): Q1 EPS of $0.15 in-line. Revenue of $3.84B (+6.9% Y/Y) misses by $60M. Shares -1.8% AH. (PR) Comment! [Earnings, Energy, Breaking News, On the Move]
Thursday, April 18, 5:14 PM Despite the weak YTD start in oil service companies Baker Hughes (BHI), Halliburton (HAL), Schlumberger (SLB) and Weatherford (WFT), Barclays analyst James West makes a strong case for all four in the months ahead. The group trades at 13.2x forward earnings, ~20% less than the 10-year average, and shares also are cheap relative to commodity prices, West says. Comment! [Energy, Quick Ideas]
Tuesday, April 9, 11:47 AM GE's planned purchase of pump maker Lufkin (LUFK) at the industry’s most expensive price tag highlights demand for oilfield equipment that may spark takeover interest from large-cap oilfield servicers for Weatherford (WFT), Flotek (FTK) and Tesco (TESO), Bloomberg writes. Even after WFT surged yesterday on the Lufkin news, its $18B enterprise value still equals just 7.3x trailing 12-month EBITDA. Comment! [Energy, M&A]
Monday, April 8, 3:19 PM GE's "stunning" $3.3B purchase price for Lufkin (LUFK +37.5%) means Weatherford's (WFT +3.5%) similar business could be worth even more, given its size and global scale, Cowen says. Credit Suisse says the deal reflects the increasing importance of artificial-lift technology as firms pursue oil using unconventional methods. Dover (DOV +1.5%), a third company in the sector, also is up. Comment! [Energy, M&A, On the Move]
Monday, April 8, 8:04 AM Lufkin Industries (LUFK) zooms 37% higher to $87.78, just under GE's (GE +0.4%) acquisition offer of $88.50/share, which represents a 38% premium to Lufkin's close on Friday. "GE (is) putting together (a) soup to nuts oil service company now because of U.S. drilling," Jim Cramer tweets. Shares in Lufkin's main rival, Weatherford International (WFT), +4.15%. 3 Comments [On the Move, M&A, Energy]
Monday, April 8, 2:00 AM General Electric (GE) is reportedly closing in on a deal to acquire Lufkin Industries (LUFK), a provider of pumps and other equipment to the oil and gas industry. There's no word on price, although Lufkin has a market cap of $2.15B. While the company's shares are sure to attract attention, also on watch are those of rival Weatherford International (WFT). Comment! [M&A, Top Stories]
Wednesday, March 27, 2:48 PM For investors interested in oilfield services companies, Simmons analysts provide their share-price entry points for the sector's top names - SLB, HAL, BHI, WFT, CAM, FTI, NOV - and finds all look fairly valued with 2013 likely to be a murky year. But "most of these names are good solid buys on weakness," the firm says, and that’s where the entry points help. Comment! [Energy, Quick Ideas]
Wednesday, March 20, 3:32 PM Drillers are little more than range-bound trading vehicles for now, Dan Dicker says in urging investors to avoid the group. Despite excitement over new U.S. finds, the weak price of natural gas will continue to stifle drilling growth until some price recovery past $3.50/mcf arrives. SLB and others have done a good job squeezing growth from international markets, but a robust U.S. market is key for their stocks to take off. 4 Comments [Energy, Quick Ideas]
Tuesday, March 19, 3:19 PM Despite Schlumberger's near-term concerns, Credit Suisse is convinced the U.S. rig count is going higher and thinks investors should be overweight in U.S.-focused companies leveraged to the rig count or completions. CS likes manufacturers HAL, SPN and FET that supply equipment for drilling and producing the tight reservoirs, plus BHI, WFT, NOV and FTI. 1 Comment [Energy, Quick Ideas]
Monday, March 18, 10:23 AM Schlumberger (SLB -2.4%) warns that North American activity is coming in weaker than expected in Q1, with fewer rigs going back to work. Asset utilization has recovered from a holiday slowdown and lower cost for guar, a key ingredient used in fracking, is providing some relief, but pricing remains the fundamental issue, CEO Paul Kibsgaard tells an energy conference. HAL -1.5%, BHI -2%, WFT -1.9%. Comment! [Energy, On the Move]
Tuesday, March 5, 2:45 PM The State Department report finding little environmental cause not to build the Keystone pipeline (TRP) is viewed by Jefferies analysts as an important step toward the project's ultimate approval. The firm believes North American Energy Partners (NOA), whose earnings have been pressured by excess oil sands capacity, has significant leverage to the news. Other key beneficiaries: PDS, WFT, BHI. 3 Comments [Energy, Quick Ideas]
Monday, March 4, 2:42 AM As expected, Swiss voters have approved an "anti-fat cat" initiative that allows investors to hold binding votes every year on executive pay at listed companies, and enable them to block large payouts at the start and end of a manager's employment. Executives who break the new law could face hefty fines and up to three years in jail. 5 Comments [Global & FX, Top Stories]
Sunday, March 3, 3:47 AM The Swiss are voting in a referendum today on an "anti-fat cat" initiative that would allow investors to hold binding votes on executive pay at listed companies and allow them to block large payouts at the start or end of a manager's employment. The measure is expected to pass. Companies that will be affected include Novartis (NVS), Nestle, UBS, Credit Suisse (CS), ABB, Roche, Transocean (RIG) and Weatherford (WFT). 13 Comments [Financials, Healthcare, Consumer, Top Stories]
Wednesday, February 27, 10:10 AM Weatherford International (WFT -2.8%) slips after reporting a better-than-expected Q4, with total sales topping consensus estimates. Despite that, net losses widened as the oilfield-services company posted $122M in special charges related to its South American operations, which offset record revenue for the period. The company also gave a tepid view for FY13, maintaining a neutral outlook for its North American business and expecting only modest revenue and operating income growth. 1 Comment [Energy, Earnings, On the Move]