Halliburton Co
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Take a look at some of Friday's midday movers:
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Stocks ended lower following a volatile week of trading that was punctuated by a mixed batch of quarterly earnings reports and strong economic data, which fizzled many investors hopes the Fed will lower interest rates.
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Halliburton reported higher fourth-quarter profit before special items on Friday, just above analysts' estimates, as high energy prices stoked global demand for its oilfield services.
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The bulls caught their breath today after a run-up last week. All major indexes ended the day in the red. The Dow Jones Industrial Average closed slightly lower today by 4 points, even as two of its biggest components – General Electric and Citigroup – surged with both stocks hitting highs (Citigroup closed at an all-time high, GE at a 52-week high). The Nasdaq and S&P 500 also faced selling pressure, closing down 22 and 5 points, respectively.
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Erin Burnett talked with Tom Petrie on “Street Signs” today. He’s a vice chairman at Merrill Lynch. He says the geopolitics of energy today will keep the market strong for the rest of this decade and beyond. Also, the need to develop more resources and the infrastructure necessary to harness them will give a boost to companies like Halliburton and Schlumberger.
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As we've said--OPEC meets tomorrow (threatening production cuts) and U.S. gas inventories are out (down)--as we've been focusing on the global energy picture. But what does it mean for your stock portfolio? Here are some picks from two energy stock analysts on "Morning Call." Jacques Rousseau is an analyst with FBR. He says it all about being selective right now. James Wicklund is Energy Equity Analyst with Banc of America Securities....