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DENVER (AP) — Shares of oilfield-services companies fell Friday after an analyst predicted a drop in activity due to the recession will hurt first-quarter performances.
Many companies have already lowered their earnings forecasts, but those adjustments failed to account for a sharp drop in activity and pricing during the first quarter, Citi Investment Research analyst Robin Shoemaker wrote in a research note.
The analyst also expects some companies to announce that first-quarter and full-year earnings will miss Wall Street expectations. ...
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| Dow Jones | S&P 500 | NASDAQ | 10-Year Note | |
|---|---|---|---|---|
| 10,426.38 | 1,108.67 | 2,196.11 | 34.35 |
Oil *
76.99
|
|
UP
37.48
|
UP
2.69
|
UP
1.76
|
DOWN
0.48
|
10 Yr
3.44%
SPDR Gold
113.70
|
|
+0.36%
|
+0.24%
|
+0.08%
|
-1.38%
|
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