Friday, April 13, 2007

UPDATE 1-Oil service company stocks rise may be ending

(Reuters) - HOUSTON, April 13 - Investors betting on the long-term outlook for oil services companies have pushed those stocks to their highest in nearly a year, but upcoming quarterly earnings reports may cut the rally short.

"The near-term threat here is that earnings are going to be sloppy," said Bill Herbert, an analyst at Simmons & Co., adding that the run of tremendous growth in North American drilling over the last three years may be over.


Read more at Reuters.com Market News

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