U.S. stocks were in the red on Tuesday, with investors worried about the cornonavirus outbreak in China and the possible impact on the economy of several countries. The Dow Jones Industrial Average fell 0.52% to 29,196, the S&P 500 index lost 0.20% to 3,321 and the Nasdaq Composite Index dipped 0.15% to 9,375.
Non-index stocks have also posted gains and losses. After an initial increase, shares of Halliburton Co. (NYSE:HAL) fell more than 0.5% on Tuesday after the company announced fourth-quarter results. The company posted earnings of 32 cents per share, beating earnings estimates by 3 cents. Revenue of $5.19 billion beat expectations by $40 million.
"I am pleased with how Halliburton executed for the fourth quarter and the full year. We optimized our performance in North America as the market softened, and our international business grew for the second year in a row," Chairman, President and CEO Jeff Miller said.
By segment, completion and production revenue in the fourth quarter came in at $3.1 billion, a decrease of 13% from the prior-year quarter, while operating income was $387 million, a decrease of 13%. Drilling and evaluation revenue was $2.1 billion, an increase of 4%, while the operating income increased 49% to $224 million.
Halliburton also reported an operating loss of $1.7 billion, which was down from operating income of $536 million in the year-ago quarter. The adjusted operating income, excluding impairments and other charges, was $546 million.
Moreover, international revenue rose 10% when compared to the previos quarter as well as on a full-year basis.
Further, the company generated over $900 million in free cash flow for full fiscal 2019 due to the adaptability of different business environments.
During the quarter ended Sept. 30,Tweedy Browne (Trades, Portfolio) reduced its holding by 7% to 529,099 shares. Ken Fisher (Trades, Portfolio) increased his stake by 6% to 3,246,375 shares. Richard Pzena also boosted his position by 13% to 26,696,811 shares.
Abiomed Inc. (NASDAQ:ABMD) +4.7%
Centurylink Inc. (NYSE:CTL) +4.7%
Lennar Corp. (NYSE:LEN) +2.8%
Costco Wholesale Corp. (NASDAQ:COST) +2.6%
Baxter International Inc. (NYSE:BAX) +1.5%
Waters Corp. (NYSE:WAT) +1.9%
Wynn Resorts Ltd. (NASDAQ:WYNN) -6.4%
MGM Resorts International (NYSE:MGM) -6%
Las Vegas Sands Corp. (NYSE:LVS) -5.3%
United Airlines Holdings Inc. (NASDAQ:UAL) -4.7%
Boeing Co. (NYSE:BA) -3.7%
The main European stock markets traded in the red.The U.K.'s FTSE 100 fell 0.53%, France's CAC 40 slid 0.54%, Germany's Dax rose 0.05% and Spain's Ibex 35 slipped 0.49%.
In Asia, Japan's Nikkei 225 fell 0.91%, India's BSE Sensex retreated 0.49%, Hong Kong's Hang Seng plummeted 2.81% and China's Shanghai Composite swelled 1.41%.
Disclosure:The author holds no positions in any stocks mentioned.
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This article first appeared on GuruFocus.