10/24/12: Sell Weatherford International
Weatherford International (NYSE: WFT) has been one of the poorer performers among the oilfield services companies, in part due to the global economic slowdown of recent years and in part because investor confidence was shaken when the company announced that they would need to restate their financial statements for several prior years. Weatherford is a solid company with an admirable diversified portfolio, and it will likely bounce back in the coming years. But after closely examining the company’s financials, we believe better opportunities lie elsewhere at present. Sell Weatherford International.