Via financialskeptic.blogspot.com/:
Baker Hughes Incorporated (NYSE:BHI) reported much improved financial results. After swallowing substantial settlements with SEC and Justice Q4 earnings were $1.02 @ share compared to $0.75 for last years comparable. Good work.
The stock has been volatile with some signs of recent resurgence. The stock is capable of sharp sell offs presumably as it trades as a proxy for oil futures.
The current winter drilling season in North America is almost over. But Chad C. Deaton, Baker Hughes chairman and chief executive officer offered this comment in the press release
“With several weeks remaining in the North American winter, the near term activity outlook for gas-directed drilling remains uncertain. We are encouraged by recent strong withdrawals from gas storage and remain convinced that the rebalancing of the North American natural gas market, if required, can happen relatively quickly."...
$65.5 (02/16/07)
