Drilling to hurt Baker Hughes

Investor's Business Daily

The No. 3 oilfield services provider sees N. America operating profit between 8.5% and 9.5% for Q4 vs. the 11.7% reported in Q3. Abroad, rig counts in Brazil and Colombia are lower than expected, but operating margins are supposed to be around the 12% reported in Q3. Tudor, Pickering, Holt & Co. lowered its Q4 EPS estimate for Baker Hughes (BHI) to 62 cents from 74 cents. Shares rose 3.2% to 41.93.

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