NEW YORK ( TheStreet) -- The oil-service company that can't seem to find an accountant who can keep the beans counted, Weatherford International (WFT), gave investors one more reason for frustration on Monday.
Weatherford said concurrent with its fourth-quarter earnings that it still hasn't remedied an accounting situation that it revealed about a year ago, in March 2011, and its previously reported financial results for the 2008 through 2011 period are still subject to restatement.
Even though Weatherford released the earnings on Monday, shares were down by 12% on Tuesday after the Presidents' Day holiday on Monday.
The Weatherford trading chart has been so choppy that the stock has been good for a short-term trade from time to time, but for long-term investors it remains the least reliable of oil-service large-cap stocks.The
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