EOG Resources Cratering (EOG)

EOG Resources, Inc. EOG is cratering in pre-market, losing nearly 9%, after the company swung to a quarterly loss and cut its production outlook for the rest of the year. EOG reported a loss of 28 cents a share for the third quarter. Excluding items, EOG Resources earned $46.6 million, or 18 cents a share, matching Wall Street estimates. Revenue was $1.6 billion, up nearly 60% from a year ago, and better than the $1.4 billion analysts' were expecting. Despite this, EOG said it was reducing its full-year organic production growth forecast from 13% to 9%. At last check, shares were down $8.74 to $89.00, a loss of 8.9%.