'Don't shut colleges unilaterally'

KPCC president R V Deshpande is not happy with higher education minister Aravind Limbavali's threat to close down 35 educational institutions for violating norms.

It detailed last week non-cash charges, including $178million in asset impairments and $62 million related to astock-option expense. Analysts had expected a profit of 28 cents per share on revenueof $945 million, according to the averages on Reuters Estimates. "I believe that the third quarter will likely represent a bottomin all of our operations, although it remains difficult to predictthe timing and pace of the eventual upturn in natural gas drivenactivity," Chief Executive Gene Isenberg said in a statement. The Bermuda-based company made a second-quarter net loss of $193million.

But he believed investors would be encouraged by Nabors stickingwith its forecast of $300 million in 2009 free cash flow. Nabors, before accounting for non-cash charges, made asecond-quarter profit of $90.9 million, or 32 cents per share, downfrom $176.4 million, or 60 cents a share, a year before Revenuedropped 33 percent to $878 million. [ID:nN20487851] Brown also noted a Nabors forecast that operating income fromnon-Alaska U.S. land drilling, which makes up more than a quarter ofits business, could fall as much as another 50 percent in the thirdquarter. "And theoilfield service bellwethers have echoed that theme." On Monday, along with their quarterly results, Halliburton Co(HAL.N) and Weatherford International Ltd (WFT.N) gave outlooks forNorth America that were steady, but with few signs of an imminentpricing recovery.

"They're approaching stability in the second half of the year,"said Mark Brown, an analyst at Pritchard Capital Partners. The company's outlook for the return of growth was uncertain,however, as weak natural gas prices continue to suppress activityamong North American energy producers. * Q2 EPS 32 cts excl charges, vs 28 cts view of Wall St Stocks  |  France * Shares steady after-hours (Adds analyst comment, details) By Braden Reddall SAN FRANCISCO, July 21 (Reuters) - Oil and gas rig contractorNabors Industries Ltd (NBR.N) reported on Tuesday a sharp drop inearnings before charges, hit by an industrywide decline in drillingthat Nabors said was bottoming out. We undertakeno obligation to update or revise forward-looking statements to reflectchanged assumptions, the occurrence of unanticipated events or changes tofuture operating results over time. Internationalparticipants should dial 617-614-3922 and enter the participant passcode94451563.ABOUT RENASANT CORPORATION: Renasant Corporation is the parent of Renasant Bank and Renasant Insurance.