Sterne Agee CRT cut its Q4 EPS estimates for Schlumberger (SLB) and Halliburton (HAL), along with its 2016-2017 estimates for Baker Hughes (BHI), Halliburton, Schlumberger, and Weatherford (WFT). The firm explains that it reduced its outlook for upstream capital spending, and now predicts that such spending will drop 25%-30% in North America and 10%-15% globally. Nonetheless, the firm still advocates owning the highest quality oil services stocks and identifies Halliburton and Schlumberger as its favorite names.

Unusual total active option classes on open include: ImmunityBio (IBRX), Halliburton (HAL), Redfin (RDFN), Nokia (NOK), Matterport (MTTR), General Motors (GM), UPS (UPS), Philip Morris (PM), PepsiCo (PEP), and General Electric (GE).

Reports Q1 revenue $5.8B, consensus $5.67B. "Halliburton delivered solid first quarter results that again demonstrated the power of our strategy and the strength of our execution. Activity in North America recovered from fourth-quarter lows, and our international business delivered its 11th consecutive quarter of year-on-year growth," commented Jeff Miller, Chairman, President and CEO. "Our customers' multi-year activity plans across markets and asset types confirms my confidence in the strength and duration of this upcycle. Halliburton demonstrated its commitment to shareholder returns in the first quarter and repurchased $250 million of common stock - a solid start to the year and a good benchmark for our expectations going forward," concluded Miller.