Weatherford International Tanks After Stephens Downgrade

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Weatherford International Plc WFT shares are trading lower by $1.88 (25 percent) at $5.60 in Thursday's session. One day after its Q1 EPS of $0.03 with a slight miss for revenues, Stephens & Co. downgraded the issue from Equal-Weight to Underperform.

The selloff from the pre-market has carried over into the regular session. So far, it has reached $5.55 and is not far off that level.

That is just above its January 21 low ($5.42) and its 16-year low that was made in October 1999 at $4.71.

Posted In: TechnicalsIntraday UpdateMoversTrading Ideas
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