Weatherford International Results are Better than Expected and Cytokinetics Plummets on Negative Tirasemtiv Results
Weatherford International Ltd. (NYSE: WFT) shares climbed higher after reporting earnings. The company's revenue for the first quarter was down 6.3% from a year ago, to $3.6 billion, which also came in below estimates of $3.7 billion from Wall Street. Weatherford International also reported a net loss of $41 million, but on an adjusted basis, earnings were $0.13 per share, $0.02 ahead of estimates. Results were less bad than expected. Weatherford International Ltd. provides equipment and services used in the drilling, evaluation, completion, production, and intervention of oil and