- American City Business Journals•5 hours ago
Baker Hughes Inc.’s (BHI) second-quarter earnings report showed a decrease of 3,000 employees over the quarter, as well as a loss that missed analysts’ expectations. The Houston-based oil field services company reported 36,000 employees in its July 28 press release, down from 39,000 in its first-quarter release and 43,000 in its 2015 annual report. Workforce reductions and lower spending helped Baker Hughes decrease its corporate costs to $29 million in the second quarter, down 9 percent from the first quarter and 31 percent year over year.
- Reuters•9 hours ago
Oilfield services provider Baker Hughes Inc said it did not expect a substantial recovery in drilling and pricing in North America this year, in contrast with comments from bigger rivals Schlumberger Ltd and Halliburton Co. Baker Hughes' shares, however, rose about 3 percent to $45.88 after the company said it expected margins to improve across its businesses due to recent job cuts and other restructuring actions. "I don't subscribe to the hopeful commentary," Baker Hughes Chief Executive Martin Craighead said on a post-earnings conference call on Thursday.
After hours: 42.770.00 (0.00%) as of 6:45 PM EDT
|Bid||42.56 x 700|
|Ask||42.87 x 500|
|52wk Range||27.64 - 46.69|
|Day's Range||42.51 - 43.40|
|Avg Vol (3m)||9,967,596|
As of 4:03 PM EDT. Market closed.