Latest news with #BKR
Business Insider
4 days ago
- Business
- Business Insider
Baker Hughes reports U.S. rig count down 4 to 559 rigs
13:01 EDT Baker Hughes (BKR) reports U.S. rig count down 4 to 559 rigs Confident Investing Starts Here: Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions Receive undervalued, market resilient stocks right to your inbox with TipRanks' Smart Value Newsletter Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Korea Herald
5 days ago
- Business
- Korea Herald
Tim Hortons shuts down first directly operated store in Korea, reflects global brand challenges
Canadian coffee brand Tim Hortons, operated in Korea by BKR, closed its Cheongna location in Incheon on Sunday, according to industry sources on Friday. This marks the first closure of a directly operated store since the brand entered Korea, coming just over a year after the location opened in April 2024. Industry experts attribute the decision to multiple factors, including declining profitability and the fierce competition within the saturated Korean coffee market. 'We are currently looking for a more suitable location within the Incheon area to better deliver the brand's original Canadian identity and emotional appeal to a broader range of consumers,' a Tim Hortons official said. Likewise, global coffee brands that have seen success overseas are finding it difficult to gain traction in Korea. Several coffee chains with strong brand loyalty in North America and Japan have recently scaled back or withdrawn their operations in the Korean market. US coffee brand Blue Bottle Coffee is also facing challenges in maintaining profitability. Since launching its first Korean store in Seoul's trendy Seongsu-dong neighborhood in 2019, Blue Bottle has rapidly expanded into key commercial districts. However, the brand now struggles under high fixed costs and intense market saturation. Blue Bottle Coffee Korea's revenue rose to 31.1 billion won ($22.9 million) in 2024, a 17 percent increase from 26.4 billion won in 2023. However, operating profit plummeted by 89 percent, reaching just 200 million won. The company also posted a net loss of 1.1 billion won, marking its first annual loss since entering the Korean market. Industry insiders point to the rapid pace of trend shifts and the unique dynamics of the Korean retail environment as key challenges for foreign coffee brands in Korea. 'Just a decade ago, Korea was often seen as a fallback market for global brands that had lost momentum elsewhere,' an industry official from the food and beverage sector said. 'But now, it's the opposite — if a brand can break through and gain a foothold with Korea's trend-sensitive consumers, it's seen as a stepping stone for faster, easier success in other Asian markets.' Such challenges are not limited to the food and beverage sector. Global beauty retail giant Sephora entered Korea in 2019, opening its first store in Parnas Mall in Seoul's Gangnam district. However, it withdrew from the Korean market in the first half of 2024 after just five years, unable to compete with domestic leader Olive Young. Just before its exit, Sephora Korea posted 13.7 billion won in sales in 2023, but suffered a hefty operating loss of 17.6 billion won.
Business Insider
30-05-2025
- Business
- Business Insider
Baker Hughes reports U.S. rig count down 3 to 563 rigs
13:00 EDT Baker Hughes (BKR) reports U.S. rig count down 3 to 563 rigs Confident Investing Starts Here: Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions Receive undervalued, market resilient stocks right to your inbox with TipRanks' Smart Value Newsletter Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Business Insider
26-05-2025
- Business
- Business Insider
Evercore ISI Reaffirms Their Buy Rating on Baker Hughes Company (BKR)
In a report released on May 23, Stephen Richardson from Evercore ISI maintained a Buy rating on Baker Hughes Company (BKR – Research Report), with a price target of $50.00. The company's shares closed last Friday at $36.74. Confident Investing Starts Here: Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions Receive undervalued, market resilient stocks right to your inbox with TipRanks' Smart Value Newsletter Richardson covers the Energy sector, focusing on stocks such as Baker Hughes Company, BP, and EOG Resources. According to TipRanks, Richardson has an average return of 5.7% and a 51.97% success rate on recommended stocks. The word on The Street in general, suggests a Strong Buy analyst consensus rating for Baker Hughes Company with a $48.81 average price target, a 32.85% upside from current levels. In a report released on May 19, J.P. Morgan also maintained a Buy rating on the stock with a $48.00 price target. BKR market cap is currently $36.4B and has a P/E ratio of 12.55.
Yahoo
17-05-2025
- Business
- Yahoo
Baker Hughes reports U.S. rig count down 2 to 576 rigs
Baker Hughes (BKR) reports that the U.S. rig count is down 2 from last week to 576 with oil rigs down 1 to 473, gas rigs down 1 to 100 and miscellaneous rigs unchanged at 3. The U.S. Rig Count is down 28 rigs from last year's count of 604 with oil rigs down 24, gas rigs down 3 and miscellaneous down 1. The U.S. Offshore Rig Count is unchanged at 11, down 9 year-over-year. The Canada Rig Count is up 7 from last week to 121, with oil rigs up 6 to 74, gas rigs up 1 to 47 and miscellaneous rigs unchanged at 0. The Canada Rig Count is up 7 from last year's count of 114 with oil rigs up 17, gas rigs down 10 and miscellaneous rigs unchanged. Quickly and easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions Receive undervalued, market resilient stocks straight to you inbox with TipRanks' Smart Value Newsletter Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>> See the top stocks recommended by analysts >> Read More on BKR: Disclaimer & DisclosureReport an Issue Baker Hughes price target lowered to $45 from $55 at Morgan Stanley Baker Hughes: Strategic Positioning and Growth Potential Amidst Market Challenges Baker Hughes reports U.S. rig count down 6 to 578 rigs Baker Hughes reports U.S. rig count down 3 to 584 rigs Baker Hughes call volume above normal and directionally bullish Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
