Core Labs CEO on Third Quarter
Oil-service company Core Labs reported a solid quarter after Wednesday’s closing bell, beating the Street’s earnings estimates by a penny on better-then-anticipated revenues. The “fly in the soup,” so to speak, was the roughly inline guidance that was a bit light on revenues, Cramer said, which has him predicting a sell-off in the stock as a result.
That comes after Halliburton’s legitimately disappointing quarter, reported Monday, which took down the whole oil-service sector. Then Cramer fave Weatherford International announced numbers that the Street disliked as well. With so many seeming negatives, the “Mad Money” host was forced to question his original reasons for liking group.
Now Cramer’s still bullish on Core Labs , and he thinks this weakness is a chance to buy. But to find out for sure, he invited CEO David Demshur onto the show. Watch the video for the full interview.
When this story published, Cramer's charitable trust owned Weatherford International.
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