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

To: JHR who wrote (9381)	1/23/1998 8:38:00 AM
From: Ditchdigger	Respond to of 95453

Hal..02 ahead..DD

To: JHR who wrote (9381)	1/23/1998 9:01:00 AM
From: Teddy	Respond to of 95453

Long article in TSC this morning. Mostly a recap of resent earning anouncements and stuff. Mostly says there is a lot of uncertenty out there. A snip: ..."Euan Baird, Schlumberger's chairman and CEO, surely did not imagine that the market would seize his seemingly innocuous statement of the obvious and turn it into a rallying cry for the day. He merely put in SLB's earnings release what investors as well as analysts have been saying for months -- that if oil prices stay depressed for an extended period, then SLB's customers may re-evaluate future spending plans. But the market took that statement as a doomsday call. SLB closed at 71 9/16, down an astonishing 9 15/16, or 12.2%.... ...Investors took no chances waiting for Halliburton (HAL:NYSE) to report after the close. The stock fell 9.6%, or 4 5/8, to close at 43 1/2. Halliburton, which had all of Thursday to view the decimation in the sector, may have heeded what happened to Schlumberger. There was no warning in its earnings release; instead, an optimistic statement from Dick Cheney, chairman and CEO: "I am optimistic about the coming year based on discussions with our petroleum industry customers and their plans for 1998." For the quarter HAL reported net income of $148.4 million, or 56 cents per diluted share, on revenue of $2.4 billion, compared with net income of $107.6 million, or earnings per share of 43 cents, on revenue of $2 billion. That beat the First Call consensus of 54 cents. Not everyone is irked by weak oil prices and tough sledding in the services sector. Nikos Monoyios, vice president of equity securities for Guardian Life Insurance, which manages the Guardian Park Avenue fund, says, "We like them at higher prices and we love them at lower prices." Monoyios declined to discuss specific stocks, but he was busy buying big and small oil service and drilling companies Thursday." full story: thestreet.com