Bernstein initiated coverage of Nabors Industries with an Underperform rating and $1.50 price target.

Check out this evening's top movers from around Wall Street, compiled by The Fly. UP AFTER EARNINGSUpwork... To see the rest of the story go to thefly.com. See Story Here

Reports Q4 revenue $443M, consensus $418.41M. The Q4 included $162M of pretax gains from debt exchanges and repurchases, partially offset by charges of $71M mainly from asset impairments, for a net after-tax gain of $52M. Anthony G. Petrello, Nabors Chairman, CEO and President, commented, "Our Q4 were stronger than we expected. Once again, we executed well across our portfolio of businesses. We benefitted from activity increases in our North American markets. Margins were better than we projected in our Lower 48 and International rig markets, as well as in Drilling Solutions."