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Baker Hughes Inc

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  • In a likely sign of things to come from a number of companies this results reporting season, Ford Motor Co on Friday said it was taking a pre-tax charge of $800 million for its Venezuela business. Ford also said that it was unable to maintain normal production in Venezuela with the availability of vehicle parts constrained. Kimberly-Clark blamed increased...

  • For more than a year Ford has said its ability to get auto parts for its operations in Venezuela have been hampered by the valuation of the Venezuelan bolivar, and made the accounting change effective Dec. 31. General Motors Co, Clorox, Procter& Gamble, Baker Hughes and Brink's have also taken hits to their respective bottom lines in the past year because of the...

  • OPEC announced last November it would keep output steady at 30 million barrels a day, despite pleas from some members for it to cut output to support prices and revenues. Stuart Glickman, an equity analyst at S&P Capital IQ, said there was no indication OPEC would cut production soon. "It's a calculated bet that the shale producers in the U.S. can't withstand the pain...

  • NEW YORK— General Electric Co. posted higher revenue and net income for the fourth quarter, but was held back from even better results by a sputtering performance from its expanding oil and gas division. On an adjusted basis, the company earned 56 cents a share, matching what analysts surveyed by Zacks Investment Research expected, on average.

  • Titans of the sector such as Schlumberger NV and Halliburton Co may have a chance to scoop up assets and know-how from rivals less able to weather the downturn, as their deeper pockets give them a major tactical advantage. Schlumberger was one of his top three holdings as of end-December, according to the fund fact sheet. Norway's Seadrill Ltd for instance has...

  • "It is unclear at this point whether or not this move up in the trend reflects issues seasonally adjusting the data around the holidays or if it represents a more meaningful deterioration in the labor market," said Daniel Silver, an economist at JP Morgan in New York. State-level data for the week ending Jan. 10 showed an increase in claims in the oil-producing...

  • Cramer: The hot commodity opportunity of low oil Tuesday, 20 Jan 2015 | 6:57 PM ET
    A Halliburton Co. worker walks through an Anadarko Petroleum Corp. hydraulic fracturing (fracking) site north of Dacono, Colorado.

    Jim Cramer compares statements of three oil companies, and finds this one is the real winner.

  • NYMEX-Crude remains below $47/bbl on demand worries Tuesday, 20 Jan 2015 | 6:57 PM ET

    TOKYO, Jan 21- U.S. crude futures edged up on Wednesday following steep losses a day earlier but remained below $47 a barrel amid worries over ample supplies and sluggish demand after the International Monetary Fund cut its 2015 global economic forecast. *NYMEX crude for new front-month March delivery was up 23 cents at $46.70 a barrel by 2345 GMT.

  • Today's late day rally doesn't make me feel better Tuesday, 20 Jan 2015 | 4:25 PM ET
    Trader on the floor of the New York Stock Exchange.

    There are several macro issues that are weighing on the markets, Bob Pisani says.

  • *FXCM plummets, details loan agreement. NEW YORK, Jan 20- U.S. stocks closed little changed on Tuesday after the International Monetary Fund reduced its growth forecasts for 2015 and 2016, increasing speculation central banks would take more aggressive policy moves to spark economic improvement. "Any sense at all that the ECB disappoints, you will see the...

  • HOUSTON— Oil services company Baker Hughes Inc. will lay off about 7,000 workers as it prepares for a downturn in orders because of the plunge in crude prices, the company said Tuesday. The layoffs represent about an 11 percent cut to the 62,000- plus workers Baker Hughes says it employs worldwide. Oil services rival Halliburton had announced in November it...

  • *FXCM plummets, details loan agreement. NEW YORK, Jan 20- U.S. stocks dipped on Tuesday after the International Monetary Fund reduced its growth forecasts for 2015 and 2016, but the outlook also boosted hopes central banks would take more aggressive policy moves to spark economic improvement. "It looks like the Fed is super happy to pass that torch to the next...

  • Baker Hughes to cut 7K as oil patch layoffs mount Tuesday, 20 Jan 2015 | 2:12 PM ET
    Baker Hughes Inc. signage is displayed at one of the company's facilities in Houston, Texas.

    As crude oil prices continue slipping, pink slips are mounting in the oil patch, USA TODAY reports.

  • US STOCKS-Wall St falls after IMF cuts growth outlook Tuesday, 20 Jan 2015 | 12:48 PM ET

    *FXCM plummets 90 percent, details loan agreement. NEW YORK, Jan 20- U.S. stocks fell on Tuesday after the International Monetary Fund lowered its growth forecasts for 2015 and 2016, though the move spurred hopes that central banks would take more aggressive policy stances to accelerate economic improvement. The upside to seeing less international growth is...

  • *Halliburton says job cuts to be in line with primary competitors. Jan 20- Oilfield service providers Baker Hughes Inc and Halliburton Co plan to cut thousands of jobs as drilling activity slows further due to a steep fall in crude oil prices. Baker Hughes, which is being acquired by Halliburton in a near- $35 billion deal, said earlier in the day it would lay off 7,000...

  • *Iran says oil selloff could hit $25 without OPEC action. NEW YORK, Jan 20- Oil fell as much as 5 percent on Tuesday after the International Monetary Fund cut its 2015 global economic forecast on lower fuel demand and key producer Iran hinted prices could drop to $25 a barrel without supportive OPEC action. "Because we have record oil production now, the falling rig...

  • Halliburton, Baker Hughes see a tough 2015 Tuesday, 20 Jan 2015 | 10:22 AM ET

    Baker Hughes and Halliburton posted better-than-expected profits, but warned that a drop in drilling due to weak oil prices would hurt results in 2015.

  • *Oil lower again; Halliburton rises after results. *FXCM shares plummet 90 percent, details loan agreement. NEW YORK, Jan 20- U.S. stocks edged lower on Tuesday after the International Monetary Fund lowered its growth forecasts for 2015 and 2016, though the move spurred hopes that central banks would take more aggressive policy stances to accelerate economic...

  • *Baker Hughes fourth-quarter adjusted profit $1.44 vs est $1.07. Jan 20- Oilfield services provider Baker Hughes Inc said it expects to lay off about 7,000 employees, days after industry leader Schlumberger Ltd said it would cut jobs as drilling activity slows due to a steep fall in oil prices. Halliburton, which is buying Baker Hughes in a near- $35 billion deal,...

  • *Oil lower again; Halliburton rises after results. *FXCM shares plummet 90 percent, details loan agreement. NEW YORK, Jan 20- U.S. stock index futures pointed to a higher open on Tuesday as lower growth forecasts from the International Monetary Fund spurred hopes that central banks would take more aggressive policy stances to accelerate economic improvement.