HOUSTON (AP) — Schlumberger Ltd. said Friday that drilling slowdowns and price cuts will hurt its fourth-quarter earnings, and investors responded by driving shares down more than 4 percent.

Weaker than expected land drilling in the U.S. and Western Canada, combined with contractual delays and slowdowns overseas, are expected to cut earnings in the current quarter by 5 to 7 cents per share, the company predicts. It hasn’t issued a fourth-quarter forecast and a spokesman wasn’t immediately available Friday morning.