Oil-Gear Maker NOV Cuts Earnings Guidance as Iran War Hikes Costs and Snarls Deliveries

By Emma Sanchez NOV Inc., one of the biggest US makers of oilfield gear, slashed its earnings guidance for the first quarter as the war in the Middle East raises costs and snarls equipment deliveries. Safety and logistical problems from the conflict dented revenue by about $54 million and adjusted earnings by around $32 million, … Read more