Baker Hughes, Another Buy-The-Dip Opportunity In Oilfield Services
Baker Hughes Pulls Back On Weak ResultsBaker Hughes (NYSE:BKR) is pulling back on weak results and the company did miss on the top and bottom lines. What it did not do was give what we consider to be a bad report, just one that fell short of the expectations. The takeaway for us is the outlook, the company echoed commentary from competitor Haliburton, in that it sees a long-term upcycle in energy about to unfold. That alone isn’t really enough but it takes on new meaning when you consider the uptick in new orders. New orders are up in all segments and greater than 100% on a YOY basis in some. ...