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Provider of components for oil & gas production $NOV said that 2Q16 revenues were $1.7Bil, down 21% from 1Q16 and down 56% from 2Q15. Revenues declined more than expected due mostly to offshore drilling contractors further delaying acceptance of newbuilds. The $26 crude oil prices of Feb. put expenditures down & drove US rig counts to record lows.
Visa ($V) set to release it earning after market close today. With new CEO resigning so close to the earnings, should we expect to see any surprises? Visa has been making strong moves with Visa Europe acquisition, partnership with PayPal and a 15% increase if quarterly dividends.
Kimberly Clark Corp ($KMB) has been in decline for most of the year, the stock has also not been getting any analyst love. Will today’s earnings break the trend? Revenue has been up and down in the last four quarters, let us see what this quarter brings.
$KMB down close to 4% after it misses on earnings and revenue. Forecasts are lower for the year.