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

To: John Carpenter who wrote (9308)	1/22/1998 7:29:00 PM
From: The Perfect Hedge	Read Replies (4) \| Respond to of 95453

ALL:I'M PISSED READ THIS: > Oilfield services giant Schlumberger (NYSE:SLB - news) fell $9 5/8 to $71 7/8 after reporting Q4 EPS of $0.75, up 44% from last year. The company commented in its press release that oil companies may re-evaluate exploration and production (E&P) plans depending on the effects macroeconomic dislocations in developing Asian nations have on the balance of supply and demand for crude products. Investors took that to mean that the company's projection of a 10% increase in client E&P spending may be revised downward, but it could also be taken that clients will revise upward their spending plans after reviewing the situation. With May 1999 oil futures down more than 20% over the last few months, investors are only considering the negative side of that statement, which in the absence of a conference call is a sentiment that builds upon itself. The company confirmed this afternoon that its clients could move either way, and not just down. << I hope none on the thread works for SLB but man what a bunch of idiots.Don't they understand that with the beating these stocks have been taking that clarity is needed when reporting earnings? That stinks! What about the post from Greenman stating that SLB's should have been comparing their basic eps #'s to Zack's est and not their diluted.They missed by .01 not .04! Murphy's Law with this sector for the last 2 months. GD