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

To: VLAD who wrote (27787)	8/14/1998 8:33:00 PM
From: cherrypitter	Read Replies (3) \| Respond to of 95453

All: >>. Simmons & Co. Cuts Estimates for EVI Weatherford NEW YORK, Aug. 14 (Standard & Poor's) EVI Weatherford (EVI 19 DOWN 4) said it will disclose that demand for its products and services is expected to decline during the rest of 1998. Simmons & Co. cut its 1998 and 1999 estimates. Analyst Roger Read told Standard & Poor's the cut in his earnings estimates is based on the company's weak business outlook. He noted the company's plans to reduce the volume of its tubular products, particularly its drill pipe, is due to a substantial backlog. Thus, he expects earnings and revenues to decrease. He noted that the rental tool and completion businesses are experiencing general weakness in the U.S. and Canadian markets. Read cuts his 1998 earnings estimate from $2.69 per share to a preliminary number of $2.25 per share and his 1999 estimate from $3.45 per share to a preliminary estimate of $2.00 per share.<<<<< Yikes!!!! '99 forcast est. earnings less than '98