What makes today’s lowered guidance so bearish is that CLB lowered full-year guidance for 2014 by 200 basis points only three weeks ago when reporting 1Q14 results (#msg-101014003).
CLB is now trading 24% below its 12-month high of $221 set less than one month ago.
p.s. I’ll bet Charlie is skeptical of the claim cited above that CLB has not lost any market share.
“The efficient-market hypothesis may be the foremost piece of B.S. ever promulgated in any area of human knowledge!”
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