The Rising Influence of Rising Affluence

[DewDiligence]

Here's the explanation for CLB's weakness today:

http://blogs.barrons.com/stockstowatchtoday/2011/09/14/core-labs-shouldnt-be-a-core-holding-analyst

Bank of America/Merrill Lynch analyst Douglas Becker downgraded oil service company Core Laboratories (CLB) to Underperform from Buy today, arguing that much of the stock’s recent strength is due to short covering.
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Becker writes that Core Labs is now trading at 24 times forward earnings, above the high end of its traditional trading range. And the stock’s momentum could slow as a program to settle warrants goes away.

“Since May CLB has entered four accelerated programs to settle roughly 6.6 million warrants originally scheduled to settle over a 20 day period ending in Jan. 2012. We believe shares have been shorted against these warrants, resulting in short covering when the warrants are settled, driving volume – and arguably the shares – higher.”

FWIW