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SLB Limited (NYSE:SLB) reported that Mamatha Chamarthi resigned from its Board of Directors on Sunday. According to the company’s statement in a Securities and Exchange Commission filing, Chamarthi’s resignation was not the result of any disagreement with SLB.
The announcement did not specify a successor or outline any changes to board composition following Chamarthi’s departure. SLB, formerly known as Schlumberger Limited, is listed on the New York Stock Exchange.
These facts are based on a press release statement contained in the company’s SEC filing.
In other recent news, SLB Limited has made several noteworthy announcements. The company has elected Mamatha Chamarthi to its board of directors, where she will also join the Audit Committee and the Energy Innovation and Technology Committee. In a significant corporate move, SLB shareholders have approved a name change from Schlumberger N.V. to SLB N.V., with the amendment becoming effective following a special general meeting. Analyst firms have been active in their assessments of SLB, with SocGen Group lowering the stock’s price target to $47.60 while maintaining an Outperform rating, citing lower free cash flow projections. Meanwhile, UBS has reiterated its Buy rating with a price target of $44, anticipating some volatility in the upcoming third-quarter results due to a recent acquisition and business re-segmentation. Stifel also maintained its Buy rating, praising SLB’s strong performance in a recent industry survey, particularly in international markets. These developments provide a range of insights into SLB’s strategic and financial outlook.
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