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Stock impact report

Why Shares of National Oilwell Varco Dropped 20% in December [The Motley Fool]

NOV Inc. (NOV) 
Last nov inc. earnings: 4/27 06:45 pm Check Earnings Report
US:NYSE Investor Relations: nov.com
Company Research Source: The Motley Fool
Why Shares of National Oilwell Varco Dropped 20% in December Tyler Crowe ( TMFDirtyBird Jan , 09 at :9PM What happened Shares of oil equipment manufacturer National Oilwell Varco NYSE:NOV Global Market Intelligence So what National Oilwell Varco makes its hay from oil producers' capital expenditure budgets. Any piece of equipment a producer needs for extracting oil and gas -- from drill bits to floating production storage and offloading vessels -- chances are National Oilwell Varco makes it. Even though it has a dominant market share in big-ticket items like offshore drilling rig packages, its prospects will still wax and wane based on how much money producers are putting into new production. Image source: Getty Images. That hasn't been the best business to be in over the past several years because, well, producers haven't been spending money. Either they drastically cut their budgets, or they opted to improve the performance at existing sources rather than develop new reservoirs. Na Show less Read more
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