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Stock Market & Financial Investment News

News Breaks
April 21, 2014
11:53 EDTBHI, HAL, SLB, WFTHalliburton hits 52-week high after results top expectations
Shares of oilfield services company Halliburton (HAL) hit a new 52-week high after the company's first quarter results topped analysts' consensus estimates. WHAT'S NEW: This morning, Halliburton reported Q1 continuing operating earnings per share of 73c and revenue of $7.3B, topping expectations of 71c and $7.24B, respectively. The company forecast its Q2 EPS to be up approximately 25%, compared to consensus of 91c, and said "further increases" will follow. For Q2, the company expects low double-digit percentage revenue improvement and margins to move solidly into the mid-teens. On its conference call, management said that 2014 will be a transitional year for Latin America. The company said that constitutional changes in Mexico seem to be progressing as planned and it believes foreign investment in the market will be beneficial to the company beginning in 2015. Halliburton also said it is starting to "feel a momentum swing" in North America. OTHERS TO WATCH: Other companies in the oil services space space include Schlumberger (SLB), Baker Hughes (BHI), and Weatherford (WFT). PRICE ACTION: In late morning trading, Halliburton rose $1.93, or about 3.2%, to $62.83 on heavy trading volume. Earlier in the session, the stock hit a fresh 52-week high of $63.88. Weatherford (WFT), which is scheduled to report on its quarter this Friday, April 25, is up 0.7% to $18.34. Meanwhile, Schlumberger (SLB), which reported Thursday morning, is up 1.7% today to $101.56 and Baker Hughes (BHI), which also reported Thursday before the open, is up 1.8% to $69.57.
News For HAL;WFT;SLB;BHI From The Last 14 Days
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January 21, 2015
09:12 EDTWFTWeatherford downgraded to Neutral from Buy at BofA/Merrill
January 20, 2015
10:17 EDTHALHalliburton, KBR appeals won't be heard by Supreme Court, Reuters reports
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09:32 EDTHALHalliburton to continue to focus on cash flows in FY15
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09:22 EDTHAL, BHIHalliburton sees restructuring charge in Q1
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09:20 EDTHALHalliburton CEO expects to protect market share during downturn
Management stated that the company has historically outperformed market during downturns and is confident in ability to continue to do so.
09:16 EDTHALHalliburton says the company needs several quarters to see effect of price cuts
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09:12 EDTHALHalliburton sees activity declines in North America accelerating in Q1
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09:11 EDTBHI, HALOn The Fly: Pre-market Movers
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08:30 EDTBHIBaker Hughes to cut 7K jobs in Q1 amid low oil prices
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08:27 EDTSLBSchlumberger price target cut to $121 from $145 at Argus
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07:51 EDTSLBSchlumberger price target lowered to $80 from $89 at Jefferies
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07:45 EDTSLBSchlumberger price target lowered to $95 from $105 at UBS
UBS lowered its price target on Schlumberger to $95 from $105 following limited comments from the company on the industry's downturn. The company, however, believes its revenues will decline less than E&P spending. UBS reiterated its Buy rating on Schlumberger shares.
07:39 EDTBHIBaker Hughes sees FY15 interest expense approx. $240M
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07:17 EDTSLBSchlumberger outlook positive, says RBC Capital
RBC Capital believes that Schlumberger will be a defensive name if oil weakness continues longer than expected, and could deliver a benchmark return if prices rally. The firm cut its price target on the name to $96 from $101 but keeps an Outperform rating on the shares.
07:04 EDTHALHalliburton says took $129M restructuring charge in Q4
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07:02 EDTHAL, BHIHalliburton reports Q4 C&P revenue $5.5B, D&E revenue $3.3B
During the fourth quarter of 2014, Halliburton (HAL) incurred $19M for costs related to the pending Baker Hughes (BHI) acquisition.
07:01 EDTHALHalliburton reports Q4 EPS $1.19 ex-items, consensus $1.10
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06:26 EDTSLBSchlumberger to take 45.65% stake in Eurasia Drilling
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06:01 EDTBHIBaker Hughes reports Q4 adj. EPS $1.44, consensus $1.07
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January 18, 2015
14:22 EDTSLB, BHISchlumberger boss says oil price to challenge land producers, WSJ says
Paal Kibsgaard, CEO of Schlumberger, said U.S. energy producers are not done with work force reductions and that because of high costs, producers that focus on shale fields are worse off than rivals, says the Wall Street Journal. Publicly traded companies in the space include BP (BP), Chevron (CVX), ConocoPhillips (COP), Exxon Mobil (XOM), Royal Dutch Shell (RDS.A), Total (TOT), Schlumberger (SLB) and Baker Hughes (BHI). Reference Link
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