Why Core Laboratories Stock Tumbled 14% in December
Shares of Core Laboratories (NYSE: CLB) slumped 14% in December, according to data provided by S&P Global Market Intelligence. Two issues weighed on the energy company last month. Not only did it revise its fourth-quarter guidance, but it also slashed its dividend.
Core Labs stock followed the price of oil higher for most of December. However, shares of the oil-field services company cratered at the end when it updated investors on its fourth-quarter outlook. Management noted that well-completion activity in the U.S was much weaker than it had expected, while discussions with clients on large international projects were slower than anticipated.
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Source Fool.com
