NEW YORK ( TheStreet) -- General Electric's (GE - Get Report) buy of Lufkin Industries (LUFK) doesn't strike me as a reason to get enthusiastic about oil drilling services. In fact, it's doing a bit of the opposite for me.That's because oil services stocks in general, and Lufkin in particular, have been a very bad place to be invested in the past 18 months, greatly underperforming the rest of the energy sector and the S&P index at large. While there is a certain value in paying out a premium and buying a company when its shares are at a relative low, there is also the question of why it is GE that is paying it.
Dicker: Not Excited by GE-Lufkin Deal
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