Energy Winners: Baker Hughes' Comeback
January 25, 2011 4:27 PM
(TheStreet) -- The four major oil service stock plays have now reported fourth quarter earnings, and only Baker Hughes (NYSE: BHI) has managed to engineer a rally to a new 52-week high, in what's a big comeback for the previous oil service group underperformer.
Schlumberger (NYSE: SLB) and Halliburton (NYSE: HAL) both beat the Street expectations, but failed to attain new 52-week high levels when they reported. Schlumberger's earning beat fizzled within a few hours on Friday, and Halliburton shares barely nudged higher on the strength of another strong earnings report.
Weatherford International (NYSE: WFT) reported a less-than-clean earnings, and a few one-time items -- nothing new for Weatherford -- made for a headline earnings miss that had shares off by close to 3% on Tuesday. Weatherford wasn't helped by an energy sector selloff -- energy declined by more than 1% on Tuesday, much steeper than the broad market loss. Schlumberger was down another 1.7% in the early afternoon, while Halliburton remained close to flat in trading.
