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Gold/Mining/Energy : Big Dog's Boom Boom Room -- Ignore unavailable to you. Want to Upgrade?

To: Broken_Clock who wrote (99430)	4/18/2008 9:24:37 PM
From: profile_14	Read Replies (1) \| Respond to of 206084

It missed reduced estimates by 6 cents. I want to read the Q but I won't be able to for another 45 days. I suspect costs are increasing faster than rates. I see solid support, but not a wedge. It is near the year-end highs, but still 10 points away from its all-time high. It is now priced at 15.6x 2008 estimated cash flow and 13.1x 2009 cash flow, which is not inexpensive by any measure. Today no misses or multibillion dollar losses could bring the market down. Some of that will carry through, but soon greed will set in. Sooner I suspect than most anticipate. Below find estimate and ratios and earnings by quarter. Notice the apparent beginning of a slowdown in earnings and possibly sales. And the ensuing ratios

To: Broken_Clock who wrote (99430)	4/18/2008 10:24:54 PM
From: tom pope	Respond to of 206084

I looked at Profile's chart and am glad that my trading accounts (not my portfolio) are flat going into the weekend, except for 2k QID. Maybe this time things are growing to the skies forever. But I'd rather just sit back and marvel.

To: Broken_Clock who wrote (99430)	4/19/2008 8:13:07 AM
From: Dennis Roth	Respond to of 206084

Schlumberger, Ltd. (SLB): First Take: 1Q2008 misses by $0.05, but announces $8 bn buyback Goldman Sachs Note Stock rating: Buy Coverage view: Neutral Price: US$95.30 April 18, 2008 United States News This morning, SLB reported 1Q2008 EPS from continuing ops of $1.06, which was $0.05 below ours and the Street estimate of $1.11. There was also an additional $0.03 from discontinued ops bringing total EPS to $1.09. A lower tax rate helped EPS by $0.02. Overall, the Street had widely been expecting a miss given management's recent comments that weather delays in North Sea, startup costs in Mexico and timing delays of seismic sales would impact 1Q2008. While we believe these issues are largely non-recurring, the stock likely underperforms today, especially given its recent run (up 18% since March 20). This should be tempered by SLB's announcement that it would buyback $8 bn of stock before 2011 and its comments that growth should strengthen as the year progresses. Revenues of $6.29 billion were 0.7% below our $6.33 billion estimate. SLB reported 2% better than expected revenues in Oilfield services, highlighted by 5% and 7% better in North America and Europe/CIS/W. Africa. WesternGeco revenues were 18% below our expectations, mainly due to timing delays associated with new multi-client sales. Operating income was 8% below expectations, mainly due to the temporary weakness in WesternGeco, where operating income fell 36%. Our 12-month price target is under review. Analysis It had been widely expected that SLB would have a weak 1Q2008, but it is appears that the underlying business remains quite strong and we expect a bullish outlook from management on North America and International business on the conference call. Investors will likely focus most on Western Geco backlog (down 17%) and margins (down 500 bps). Implications While a SLB miss is probably not great for the sector, overall North America was better than expected, which is positive for HAL, BJS, WFT and OIS. Most of the shortfall was related to the seismic business which is not as impactful to most other companies in the space.