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Gold/Mining/Energy : Strictly: Drilling and oil-field services -- Ignore unavailable to you. Want to Upgrade?

To: Lucretius who wrote (9215)	1/22/1998 1:02:00 PM
From: Chunsheng Zhou	Respond to of 95453

Thursday January 22, 12:34 pm Eastern Time Oil prices, Schlumberger report hurt service cos NEW YORK, Jan 22 (Reuters) - Schlumberger Ltd (SLB - news) was among several oil service stocks down sharply on Thursday, dragged lower by the falling price of oil and by concerns sparked by Schlumberger's fourth-quarter results. Schlumberger was off 8-7/8 at 72-5/8 at midday after reporting fourth-quarter diluted earnings of $0.72 per share, up from $0.50 a year ago but below the consensus Wall Street estimate of $0.76. Diamond Offshore Drilling Inc (DO - news) was off five at 39-13/16 after reporting fourth-quarter basic earnings of $0.57 per share and diluted earnings of $0.55, compared with $0.41 a year ago. The diluted number fell just short of the consensus of $0.56 compiled by First Call. ''Both (Schlumberger) and Diamond missed their numbers a little bit,'' said Sanford Bernstein analyst John Mahedy, and that fact combined with the decline in crude oil prices brought these stocks sharply lower as a group. ''Those two factors are causing all of these energy stocks to come back down,'' said First Albany analyst Michael Smolinski. Mahedy said another factor in the decline was a statement released by Schlumberger that said its clients plan to increase exploration and development spending by 10 percent this year, but that these plans may be modified when the impact of Asia's economic problems on oil demand becomes more clear. ****************************************************************** ''This is a very nervous market,'' said Smolinski, who added that he expects these stocks to bounce back relatively quickly. ****************************************************************** Among other oil service stocks sharply lower in high-volume midday trading were Halliburton Co (HAL - news), off 4-13/16 at 43-9/16; Parker Drilling Co (PKD - news), off 15/16 at 12; and Global Marine (GLM - news), off 1-13/16 at 22-3/4. Smith International Inc (SII - news) was off 6-7/16 at 50-1/4, and Cliffs Drilling (CDG - news) was off 5-3/16 at 40-13/16.

To: Lucretius who wrote (9215)	1/22/1998 1:24:00 PM
From: TREND1	Respond to of 95453

taurus Yesterday SLB was above it's 200 Day Moving average. Today SLB is below.(see .99 number in col 4) For the non Ta'ers (1) Above 200DMA = bull market (2) Below 200dma = bear market Value Line has rated Drillers 1 out of 90 for some time now, but earnings like these will change that! Question: Is this "correction" turning into a "bear" ?? Larry dudash DATE= 01-22-1998 TIME= 10:15:59 FILTER USED IN THIS STUDY IS........ PRINT ALL THIS DATA IS SORTED BY CODE......... 4 SORT CODE 1 2 3 4 5 STUDY STOCK DATE SYM CLOSE 21DMA 50DMA 200DMA 21R 50R 200R GROUP 1 01/22/98 DJ-30 7764.26 7792.56 7814.84 7684.31 1.00 0.99 1.01 ZINDEX 1.01 2 01/22/98 SLB 72.75 75.37 79.71 73.32 0.97 0.91 0.99 DRILLERS 0.99 3 01/22/98 OSX 97.47 101.73 112.24 104.80 0.96 0.87 0.93 DRILLERS 0.93 4 01/22/98 TXN 47.25 45.58 46.68 52.05 1.04 1.01 0.91 MEMORY-DSP 0.91 5 01/22/98 MU 31.50 28.08 26.20 36.54 1.12 1.20 0.86 MEMORY 0.86 6 01/22/98 GLM 22.69 22.56 25.44 26.68 1.01 0.89 0.85 DRILLERS 0.85 7 01/22/98 SOX--X 270.73 264.53 275.93 322.42 1.02 0.98 0.84 ZINDEX 0.84 8 01/22/98 RDC 25.25 27.18 31.83 30.15 0.93 0.79 0.84 DRILLERS 0.84 9 01/22/98 QNTM 21.13 20.35 23.07 27.36 1.04 0.92 0.77 DISK DRIVES 0.77 10 01/22/98 WDC 18.38 16.28 18.04 32.49 1.13 1.02 0.57 DISK DRIVES 0.57 11 01/22/98 SEG 20.13 19.79 21.44 35.03 1.02 0.94 0.57 DISK DRIVES 0.57 LARRY DUDASH