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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.
$MON shares dip slightly; I wonder this is because of the environmental lawsuit filed by the Washington state against the production of PCBs.
My bet is that $FR will reach $32 in the short term. It’s time it broke the 52-week high and had its fair share of growth.
$WYNN got bruised up by China after its decision to cut withdrawal limit in Macau ATMs. Wynn Resorts shares went down by more than 11%! Well who could have guessed that right?