BREAKING NEWS...NOV is set to have another terrible Q2 earnings. No orders booked with less than 2 weeks in the quarter. Higher losses expected

With less than 2 weeks to go in Q2-2016 NOV has booked no meaningful new orders again for the 4th straight quarter. Yes NOV is trouble, they are going to have another horrific earnings call. And our CEO Clay Williams and his minion CFO Jose will get on the Wall Street call next month and bull#$@t once again because they are the spin masters. They will tell a story, no matter how bad things really are, and make it sound like NOV is in good shape. Clay’s famous words “I have to thank my fantastic management team for their effort”…. “We’re controlling what we can cost” Really?? why don’t you talk about your great sales force that lost that a big order to GE for Statoil??? Can you control that?

But the reality is Backlog will be reduced significantly, Cash will be down, product base margins %’s will be down again on reduced sales volumes, and net income....I mean "Net Loss" will be recorded again for the 9th straight month because the sales volumes are too low to support current fixed cost. NOV continues to be too top heavy and they are not cutting cost fast enough where it matter most with their highly paid executives who are sitting around doing very little. But the Wall Street analyst will just listen or ask easy questions because they are a bunch of pussies and are in bed with NOV management. They won't dare ask the tough questions or challenge Clay. But have faith the day of reckoning is coming.

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Not as small as my ahem...well.

Yeah, really really Small, smaller than Trump's fingers.

There has been close to a 75% reduction in the engineering department at Eldridge since the layoffs began two years ago. Do not dare to say that office personnel are somehow above the quay. Quit blaming everyone else and try to contribute effectively instead of tearing individuals down to no effect. The business climate can be blamed on overproduction and over regulation pure and simple.

To many plants loosing hundreds of thousands a month. Until corporate does something with these plants we're screwed. Amazing how office personnel are mostly above layoffs, they don't produce 1 part.

We really need to be bought out by the likes of GE. NOV is going to be a smaller player in this industry when the dust settles from this down turn, regardless of the current management team or any other that would be brought in to replace them.

Go apply for that CEO job. With your confidence and vision they'd be crazy not to take you

You disappoint me son

For the last two posters that's fine if you want the stock to continue to languish. Investors as a rule tend to back confidence with a vision and a clear resolve to executing strategy which grows value. On the strength of current performance by the executive team short of a dead cat bounce from a takeover rumour NOV stock is going to continue to disappoint

Realllllllly small

If you don't like it, go back to school get an applicable degree, work you're way up, spend a few years as CFO, get the CEO gig and then do it differently.

To "You sound small". I guess you must be one of Clay's bi$###@ because the author is kinda telling it likes like it is. Numbers were crap in Q1 and looks like Q2 is going to be worse.

That's his job.. Here is here to guide the company and keep investor informed about what is going on. Of course he doesn't talk about all the bad stuff and tries to look for the positive. Every CEO or coach does. His job isn't to get up there and say the ship is on fire. What would happen to a head coach if he did that at the press conference?

Grow up

You sound small

Thread regarding National Oilwell Varco Inc. layoffs

BREAKING NEWS...NOV is set to have another terrible Q2 earnings. No orders booked with less than 2 weeks in the quarter. Higher losses expected

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