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Technology Stocks : Investing in Exponential Growth

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From: Paul H. Christiansen	7/22/2016 10:27:00 AM
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Schlumberger Joins Halliburton in Calling Bottom of Oil Downturn The world’s two largest providers of oilfield drilling and fracking services have now declared that the worst may be over in the two-year-old oil market crash. Schlumberger Ltd. said Thursday that the oil industry appears to have reached the bottom of the cycle, echoing smaller rival Halliburton Co., which on Wednesday said the North American market reached its lowest point in the second quarter and is poised for modest growth the rest of this year. "They’re the two dominant players in the market, both of whom just called the bottom," James West, an analyst at Evercore-ISI in New York, said Thursday in an interview. "It’s a positive. Calling the bottom in the market sends the right signal and Schlumberger has a ton of credibility." bloomberg.com

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