Why Baker Hughes Stock Plunged Today
Baker Hughes (NASDAQ: BKR) stock crashed this morning and is trading down 9.3% as of 10:20 a.m. ET. The oil services giant may have swung to a profit in its first quarter, but the market expected much more given the recent rally in oil and gas prices. A warning from management isn't helping the stock today either, especially as it comes just one day after rival Halliburton (NYSE: HAL) gave an encouraging outlook.
Here are some key numbers from Baker Hughes' Q1 earnings report, released this morning (all changes year over year):
Looking at those numbers, you can guess why the market isn't happy with Baker Hughes' report: Flat year-over-year revenue was a bummer, and both its revenue and its adjusted earnings figures missed analysts' estimates.
Source Fool.com
