Weatherford International Plc (NYSE:WFT) is up by 9.78% after the oil services company reported a net loss of $0.05 per share on revenues of $2.24 billion, beating analyst expectations by $0.06 per share, but missing estimates by $80 million. Revenue was weaker-than-expected due to the strong dollar and weak crude prices. Management is controlling costs, as they announced the company will layoff another 3,000 employees by year’s end. Given the recent mergers in the industry, some investors wonder if Weatherford International Plc (NYSE:WFT) should just sell itself or merge with another oil services company to unlock shareholder value. Although shares are down by 12% year-to-date, we think Weatherford’s shares are a good long-term holding. Crude prices can’t stay low forever, and oil services demand will increase once crude prices normalize.
Shares of Citrix Systems, Inc. (NASDAQ:CTXS) have rallied by 11% today after the company reported third quarter earnings of $1.04 per share on revenues of $113.3 million, beating estimates by $0.20 and $27.28 million respectively. Guidance is strong, with management expecting 2015 revenue of $3.24 billion-to-$3.25 billion and EPS of $3.85-to-$3.90 versus estimates of $3.23 billion in revenue and $3.71 in EPS. Apparently, Paul Singer of Elliott Management’s request that management pay more attention to costs is working, as the company’s expenses as a percentage of total revenues is trending lower. Elliot Management would be happier if management leveraged its balance sheet more to repurchase more shares but for now the stock is heading in the right direction. Elliot Management believes Citrix Systems, Inc. (NASDAQ:CTXS) could trade for $90.00-to-$103.75 per share by the end of 2016.