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Stock Market & Financial Investment News

News Breaks
April 21, 2014
11:53 EDTWFT, BHI, HAL, SLBHalliburton 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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July 21, 2015
08:08 EDTBHIBaker Hughes says Q2 negatively impacted by deteriorating pricing, currency
CEO Martin Craighead commented, "Even though the severity of the revenue decline has compressed our margins, we have minimized the impact by aggressively reducing costs and rightsizing our operational footprint. These actions have resulted in decremental margins of 35% compared to the prior year, a significant improvement from the prior industry downturn. Furthermore, earnings for the quarter were impacted by an unfavorable tax rate which resulted primarily from a change in the geographic mix of earnings."
08:07 EDTBHIBaker Hughes reports Q2 adjusted EPS (14c), consensus (13c)
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07:47 EDTHALHalliburton price target lowered to $55 from $61 at Susquehanna
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07:20 EDTBHI, HALHalliburton has 90% upside potential over 3 years, says Citi
Citi analyst Scott Gruber believes regulatory approval for Halliburton's (HAL) proposed acquisition of Baker Hughes (BHI) is a "high probability event." Halliburton's buyback potential post-acquisition looks significant, Gruber tells investors in a research note. He estimates $5.00 of pro forma earnings per share for Halliburton in 2018, suggesting 90% upside potential for shares over the next three years. The analyst notes that applying a 16 times earnings multiple yields a $78 share price. He keeps a Buy rating on Halliburton with a $54 price target. The oil services company closed yesterday up 75c to $40.74 after reporting Q2 results.
July 20, 2015
15:01 EDTBHINotable companies reporting before tomorrow's open
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11:12 EDTSLBSchlumberger downgraded to Neutral from Buy at Tigress Financial
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10:00 EDTSLBOn The Fly: Analyst Upgrade Summary
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09:34 EDTHALHalliburton CEO says 'this is a damn tough market'
09:34 EDTHALHalliburton sees significant runway for refrack in the future
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09:31 EDTSLBSchlumberger upgraded to Buy from Neutral at Global Hunter
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09:25 EDTHALHalliburton sees lower revenue and margins in Q3
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09:12 EDTHALHalliburton says Q2 was challenging due to lower activity, pricing pressure
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08:00 EDTSLBSchlumberger outlook remains favorable, says Oppenheimer
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07:05 EDTHALHalliburton says Q2 Eastern Hemisphere revenues declined 'modestly' vs. Q1
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07:04 EDTHAL, BHIHalliburton incurred $67M after-tax for costs related to Baker Hughes deal in Q2
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07:03 EDTBHI, HALHalliburton says 'pleased' with progress of Baker Hughes acquisiton
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07:02 EDTHALHalliburton expects global markets will remain 'transitional'
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07:01 EDTHALHalliburton reports Q2 continuing ops EPS 44c ex-items, consensus 29c
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06:50 EDTSLBSchlumberger upgraded to Outperform from Market Perform at Wells Fargo
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06:36 EDTHALHalliburton July weekly volatility increases into Q2 and outlook
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