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Weatherford: Bottoming Process

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Weatherford International (WFT) reported some horrible Q3 numbers, but the stock rebounded solidly on the news. The daily low of $5.26 test the lows for the last few months to only see the stock rebound near the highs of the day.



The interesting part of the story is that the industry sees the market bottoming out. Maybe even more important, a competitor like Halliburton (HAL) is shifting back towards focusing on profits over market share. This should help reduce some pressure on the bottom line at Weatherford.

More research:
Halliburton: Some Perspective


Disclosure: No position. Please review the disclaimer page for more details. 


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