Weatherford International is a manufacturer and supplier of oilfield equipment & contract drilling services.For the FY ended 12/31/00, revenues increased 46% to $1.81B. Net loss from continuing operations totalled $44.8M vs. an income of $16.2M. Revenues reflect improved rig count and impact of the late 1999 acquisition. Net lossreflects charges related to the disposal of compression operations.

March 6, 2001

Weatherford International. is a leading provider of oil and natural gas drilling and production equipment and related services. WFT has gained over 78% after hitting a relative low of $31.75 on November 30th. The stock hit its all-time high on Tuesday, and we believe that it could be ready to move even higher. The oil drilling equipment sector currently has strong momentum and WFT should continue to move with the rest of the group. We are also looking for a split announcement with the April earnings release or out of its next BoD meeting. The company has enough shares for a split, with 250 million shares authorized and 110 million shares outstanding, and the stock is currently trading at historic split levels. The company's last split was a 3:2 when the stock was trading in the $45-$50 range. Going forward, WFT has support at Tuesday’s intra-day low of $55.50 with stronger support at $54.15, the 5-dma. There is light resistance at Tuesday’s intra-day high of $57.20. A move above $57.20 could send the stock up to $58 or $60. Traders should be looking for a bounce off of $55.50 or a breakout above $57.20 on midday volume of at least 750,000 shares before opening new positions. We plan to place stops at $52 to limit potential losses.

Picked on March 6th @ $56.80
Change since picked +0.00
Stop Loss @ $52.00

March 13, 2001

Weatherford International announced that it has acquired Tesco Corporation's underbalanced drilling (UBD) business for $33 million on Monday. Although the deal is not very large, the news had a negative effect on the stock. WFT traded as low as $54.64 during Tuesday’s session. Our stops were triggered at $55, so we are removing WFT from our Current Play list.

Picked on March 6th @ $56.80
Profit/Loss = -1.80 (-3%) (Stopped Tuesday @ $55.00)
Best Profit = +2.15 (+4%)

March 11, 2001

Weatherford International, a leading provider of oil and natural gas drilling equipment, set a new high in every session last week. On Friday, shares of WFT traded to an all-time of $58.95 early in the session. However, the stock ended the day at $58.01 on volume of 1.66 million shares, as general market malaise pulled the stock down. WFT has lost some of its momentum over the past two days so the stock may need to test support before it breaks out to new highs. The company is expected to report earnings in April and we are looking for a split announcement with the earnings release or out of the next BoD meeting. WFT already has enough shares for a split, with 250 million shares authorized and 110 million shares outstanding and the stock is currently trading within its historic split range. Going forward, support is the 5-dma at $57.39 with stronger support at $55.96, Monday’s intra-day high. Resistance has moved up to Friday’s intra-day high of $58.95 followed by $60. A bounce off of $57.39 or a breakout above $58.95 on midday volume greater than 750,000 shares may be possible entry points. We are leaving our stops at $55 to limit potential losses.

Picked on March 6th @ $56.80
Change since picked +1.21
Stop Loss @ $55.00