Search for WFD 2019 Proxy statement. Seems they have agreed to a reverse stock split to be approved & executed on April 26th 2019. ....20-1 split
2020 WFD will be part of Halliburton.
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Share price getting hammered today apparently as a result of the reverse split vote being announced.
https://www.houstonchronicle.com/business/energy/amp/Weatherford-proposes-reverse-stock-split-to-13808238.php
You are so full of c-ap. Shareholders to vote on reverse split at the June 25th shareholders meeting.
Earnings will be released on May 8th.
Split is approved and coming at quarterly earnings (or lack of there of) report on the 5th of May. It will be announced then.
Doesn’t look like the reverse split happened on 4/26. Next guess?
I can assure you Halliburton is not worried or wanting Weatherford.
The only reason the SEC would block a sale to the competition is that they wouldn’t want WFT to bring down the new owners and wreck two companies. WFT has zero value! It’s been four years of a $hi7 $how. There’s no real tech that’s worth buying a whole company for. Best to let the division fizzle out and then buy the sc-aps. There’s no manufacturing worth buying and you can always buy their equipment at auction for 1/3 the price or less than they want for it. There’s next to no good management, most have left and look at the inexperienced peeps they’ve moved into management.
One can Google Reverse Stock Split: A higher share price is usually good, but the increase that comes from a reverse split is mostly an accounting trick. The company isn't any more valuable than it was before the reverse split. Whatever value it has is just distributed over fewer shares of stock, thus increasing the price
The number one reason for a reverse stock split is because the stock exchanges—like the NYSE or Nasdaq—set minimum price requirements for shares that trade on their exchanges.
Weatherford is cooking the books, trying to pay more bonus to the upper management, that is it.
SEC wouldn't block sale of Weatherford with Baker Hughes and Schlumberger preventing dominance in the market.
When the Q1 results become public, this outfit is going out of business. There ain’t no reverse stock split or any other measures that can save Weatherford now.
Why don’t I get involved with a hot woman with three kids, barely making more than min wages and racked up credit cards? Too much debt and baggage.... That’s WFT. The hot woman.
The SEC won't approve that sale, but NOV would be the best option. They are big in all product lines we don't offer so a sale would be approved since they cant monopolize the industry. Too much streamlining and 5s to not look like we doing what they do