🔴 NOV is trading 12% down in pre-market as investors focus on softer order momentum

NOV is trading 12.36% down at $18.01 after reporting third-quarter results on October 27; investors appear focused on softer order momentum despite the revenue beat.

• Revenue was $2.23 billion, exceeding expectations; bookings totaled $577 million, a 91% book-to-bill ratio.
• The move is company-specific; the broader pre-market index picture is mixed and does not clearly explain NOV’s decline.
• NOV’s earnings call is scheduled for October 28 at 11:00 a.m. ET.