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Rising energy prices and geopolitical instability could force more nations to explore shale gas reserves, leading to wider opportunities for fracking.
Stocks were mixed Monday as investors awaited quarterly results from an onslaught of major corporations across sectors, with consensus estimates pointing to a broad-based decline in earnings over last year.
Better-than-expected revenue in North America, along with the company's claim that prices were bottoming out, initially drove shares in the oilfield services giant almost 5 percent higher after it published first quarter results. Shares of Halliburton were flat in midday trade. "I don't think there was anything in there to get people off the sidelines," said Jennifer Rowland, an analyst at brokerage Edward Jones, arguing the company's comments fell short of what was needed to shift sentiment around the industry.
Halliburton (HAL) anticipates its international revenue to grow at a high single-digit rate in 2019, with further improvement next year.
Roughly 2 million barrels of oil per day would have to be pumped by Saudi Arabia, UAE and the U.S. in order to make up for the sanction.
In fiscal Q2, slowdown in domestic onshore drilling activity could impact Helmerich & Payne's (HP) largest segment - U.S. Land.
Schlumberger said last week that investments by oil producers in international markets will increase by 7 percent to 8 percent this year, citing a 20 percent increase last quarter in offshore rig counts and growing exploration activity in Latin America, Africa and Asia. Halliburton's international revenue rose 11 percent in the first quarter, driven by gains in Mexico, Argentina and the Middle East.
Halliburton (HAL), the world's No.2 oilfield services provider, reported first quarter adjusted income per share of 23 cents.
Shares of Fastenal, Intuitive Surgical, and Lam Research were getting attention, while the Dow was poised to open lower.
Ramped-up upstream activities and increasing inbound orders amid crude uptick in the first quarter of 2019 bode well for TechnipFMC (FTI).
Halliburton on Monday called a bottom for the prices charged for oilfield services in North America even as the company reported a drop in revenues for the region. The Houston-based company’s chief executive Jeff Miller said Halliburton “experienced pricing headwinds throughout the quarter” in North America but added “we believe the worst in the pricing deterioration is now behind us”. Overall revenue at the 100-year old oilfield services company was flat at $5.7bn in the first quarter, just ahead of analysts estimates for $5.5bn, according to a Refinitiv survey of analysts.
Tesla hosts an analyst event to showcase its autonomous-driving technologies Monday, a couple of days before reporting its earnings. Many more firms report numbers this week, but so far, growth in profit is unimpressive.
Bed Bath & Beyond BBBY — The housewares retailer is reconstituting its board , with five independent directors stepping down and the company's founders and co-chairmen departing the board as well. Lead independent director Patrick Gaston has been named as the new chairman. Kimberly-Clark KMB — The consumer products company beat estimates by 12 cents a share, with adjusted quarterly profit of $1.66 per share.
Halliburton Co. on Monday reported first quarter earnings of $152 million. On a per-share basis, the Houston-based company said it had profit of 17 cents. Earnings, adjusted for one-time gains and costs, ...
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The latest earnings announcement Xylem Inc. (NYSE:XYL) released in December 2018 suggested that the company experienced a strong tailwind, leading...
Schlumberger’s Q1 Earnings Meet Analyst Estimates(Continued from Prior Part)Schlumberger in 2019 Schlumberger (SLB) has risen 31% so far in 2019. The stock has outperformed peers Halliburton (HAL), National Oilwell Varco (NOV), and Baker Hughes
Schlumberger’s Q1 Earnings Meet Analyst EstimatesEPS fell 21% Schlumberger (SLB) reported its first-quarter results today. The company reported EPS of $0.3, which met analysts’ consensus estimates. The EPS fell 21% YoY. “First-quarter revenue