I figured CLB would be hit hard today, but not 17%. It might have been better if CLB had simply given explicit guidance for 4Q12 instead of the very weak implicit guidance outlined in #msg-80106286. The implicit 4Q12 guidance leaves a lingering suspicion that 4Q12 might end up being even worse than the company is letting on.
“The efficient-market hypothesis may be the foremost piece of B.S. ever promulgated in any area of human knowledge!”
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