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Weakness Seen in Core Laboratories (CLB): Stock Tanks 10.1%
July 25, 2014

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Core Laboratories NV (CLB - Free Report) saw a big move last session, as the company’s shares fell over 10% on the day. The move came on pretty good volume too with far more shares changing hands than in a normal session. This breaks the recent trend of the company, as CLB is now trading below the volatile price range of $159.7 to $167.1 in the past one-month time frame.
This Oil company has seen a flat track record when it comes to current year estimate revisions, as there has been no revision on either side over the past few weeks. The consensus for earnings estimate hasn’t been in a trend either. This recent price action is discouraging, so make sure to keep a close watch on this firm in the near future, and especially on earnings estimates following the recent slump.
CLB currently has a Zacks Rank #4 (Sell).
Investors interested in the Oil Field Services industry may consider better-ranked stocks like Newpark Resources Inc. (NR - Free Report) , Flotek Industries Inc. (FTK - Free Report) and Unit Corporation (UNT - Free Report) . All these stocks carry a Zacks Rank #1 (Strong Buy).
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