Schlumberger  (SLB) shares were down more than 0.5% premarket after the oilfield services company reported first quarter revenue below analyst expectations for the period. 

The company reported earnings of a quarter per share, matching Wall Street's expectations for the period, but revenue of $6.89 billion missed analysts' $6.98 billion forecasts. 

"In the first quarter, the North America land market continued to strengthen in terms of both activity and pricing, leading us to begin accelerating deployment of idle capacity for multiple product lines," CEO Paal Kibsgaard said.

(What will move markets this quarter and how should investors position themselves ahead of time? Jim Cramer sat down with four of TheStreet's top columnists recently to get their views. Click here to listen to his latest Trading Strategies roundtable with them and read their advice for stocks, bonds, forex and gold.)

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