Latest news with #BakerHughes
Yahoo
4 hours ago
- Business
- Yahoo
Baker Hughes Company (BKR)'s Had A Good Quarter, Says Jim Cramer
We recently published . Baker Hughes Company (NASDAQ:BKR) is one of the stocks Jim Cramer recently discussed. Baker Hughes Company (NASDAQ:BKR) is an oil and gas production equipment provider. The firm's shares have fared better than its peers in 2025 as they have gained 9% year-to-date. Baker Hughes Company (NASDAQ:BKR)'s stock has performed well, primarily due to a 16% jump in July. The shares rallied due to a robust second quarter earnings report, which saw the firm's EPS of $0.63 beat analyst estimates of $0.56 while its $6.91 billion in revenue beat $6.63 billion in estimates. Cramer discussed the performance divergence between Baker Hughes Company (NASDAQ:BKR) and its oil and gas equipment providing peers: 'But not as many as you would think. I mean, look, oil and gas, you would think that would be terrible with oil in the 60s, they're doing pretty well. Well, Schlumberger and Haliburton have a hard time. Baker Hughes actually had a good quarter. But then, out of nowhere, you get this LNG deal. And you say, wow, I mean there's an industry that's got customers for the rest of its duration.' Copyright: areeya / 123RF Stock Photo Artisan Partners mentioned Baker Hughes Company (NASDAQ:BKR) in its Q1 2025 investor letter. Here is what the fund said: 'During the quarter, we initiated new GardenSM positions in Baker Hughes Company (NASDAQ:BKR), Snowflake and Viking. As a leading oil and gas equipment and services provider, Baker Hughes generates 60% of its revenue from oilfield services and equipment. However, its expanding industrial and energy technology segment, driven by secular growth in liquefied natural gas (LNG), has been further diversifying its revenue stream. We believe Baker Hughes is well positioned for profitable growth from Europe's increasing demand for US LNG and rising gas infrastructure investments to meet growing electricity demand. Additionally, the potential end of the US moratorium on LNG export permits under the new Trump administration could provide further tailwinds. The rising contribution of aftermarket service revenues should also help reduce the company's cyclicality.' While we acknowledge the potential of BKR as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an extremely cheap AI stock that is also a major beneficiary of Trump tariffs and onshoring, see our free report on the . READ NEXT: 30 Stocks That Should Double in 3 Years and 11 Hidden AI Stocks to Buy Right Now. Disclosure: None. This article is originally published at Insider Monkey. 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
Yahoo
a day ago
- Business
- Yahoo
Hot US Weather Forecasts Push Nat-Gas Prices Higher
August Nymex natural gas (NGQ25) on Tuesday closed up +0.093 (+3.11%). Aug nat-gas prices settled sharply higher Tuesday as forecasts for hotter US weather sparked short covering in nat-gas futures. Forecaster Vaisala on Tuesday said that above-normal temperatures are forecast for the West and the East for the August 8-12 period, which will boost nat-gas demand from electricity providers to power increased air-conditioning usage. More News from Barchart Crude Oil Sharply Higher on Concerns About Tighter Global Supplies Nat-Gas Prices Fall on Forecasts for Cooler US Temps Crude Oil Rallies as President Trump Imposes a New Deadline on Russia Stop Missing Market Moves: Get the FREE Barchart Brief – your midday dose of stock movers, trending sectors, and actionable trade ideas, delivered right to your inbox. Sign Up Now! Nat-gas prices had tumbled to a 3-month low Monday due to more temperate US weather forecasts and higher US nat-gas production, with recent US nat-gas output up year-over-year. In addition, expectations for even higher US nat-gas production are also weighing on nat-gas prices after last Friday's weekly report from Baker Hughes showed that the number of active US nat-gas drilling rigs in the week ending July 25 rose by +5 to a nearly 2-year high of 122 rigs. Lower-48 state dry gas production on Tuesday was 108.1 bcf/day (+3.2% y/y), according to BNEF. Lower-48 state gas demand on Tuesday was 86.0 bcf/day (+7.1% y/y), according to BNEF. Estimated LNG net flows to US LNG export terminals on Tuesday were 15.3 bcf/day (+2.6% w/w), according to BNEF. An increase in US electricity output is positive for nat-gas demand from utility providers. The Edison Electric Institute reported last Wednesday that total US (lower-48) electricity output in the week ended July 19 rose +2.1% y/y to 99,373 GWh (gigawatt hours), and US electricity output in the 52-week period ending July 19 rose +2.4% y/y to 4,251,059 GWh. Last Thursday's weekly EIA report was bullish for nat-gas prices since nat-gas inventories for the week ended July 18 rose +23 bcf, below the consensus of +27 bcf and the 5-year average of +30 bcf for the week. As of July 18, nat-gas inventories were down -4.8% y/y, but were +5.9% above their 5-year seasonal average, signaling adequate nat-gas supplies. As of July 22, gas storage in Europe was 66% full, compared to the 5-year seasonal average of 74% full for this time of year. Baker Hughes reported last Friday that the number of active US nat-gas drilling rigs in the week ending July 25 rose by +5 to a nearly 2-year high of 122 rigs. In the past ten months, the number of gas rigs has risen from the 4-year low of 94 rigs reported in September 2024. On the date of publication, Rich Asplund did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. This article was originally published on Sign in to access your portfolio
Yahoo
2 days ago
- Business
- Yahoo
Chart Industries (GTLS) Gets 15.8% Boost from Earnings, $13.6-Billion Merger
We recently published . Chart Industries, Inc. (NYSE:GTLS) is one of the best-performing stocks on Monday. Chart Industries grew its share prices by 15.82 percent on Tuesday to close at $198.8 apiece as investors gobbled up shares following its impressive earnings performance and news that it was set to be acquired by an energy technology company for $13.6 billion. In a statement, energy technology firm Baker Hughes said it entered into a definitive agreement with Chart Industries, Inc. (NYSE:GTLS) for the full acquisition of its outstanding shares at a price of $210 apiece. Copyright: dolgachov / 123RF Stock Photo The transaction is expected to be completed in the middle of 2026 and remains subject to regulatory and shareholder approvals. Meanwhile, Chart Industries, Inc. (NYSE:GTLS) announced in a separate statement that net income attributable to shareholders grew by 34 percent to $69.3 million from $51.8 million in the same period last year. Sales amounted to $1.08 billion, higher by 4 percent than the $1.04 billion year-on-year. For the first half, attributable net income nearly doubled to $112 million from $56.3 million, while sales inched up by 4.5 percent to $2.08 billion from $1.99 billion. While we acknowledge the potential of GTLS as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an extremely cheap AI stock that is also a major beneficiary of Trump tariffs and onshoring, see our free report on the .
Business Times
2 days ago
- Business
- Business Times
US: Stocks retreat ahead of Fed decision, big tech earnings
[NEW YORK] Wall Street stocks retreated on Tuesday as markets digested major merger announcements and monitored US-China trade talks ahead of big tech earnings later in the week. Representatives from Beijing and Washington signaled further talks were likely following a round of negotiations in Stockholm. But a top US trade official stressed that President Donald Trump would make any 'final call.' Meanwhile investors digested several significant earnings reports, as well as merger announcements in the rail and energy sectors ahead of major economic news catalysts later in the week. 'After reaching all time highs, markets are going to take a wait and see attitude,' said Art Hogan of B. Riley Wealth Management. The Dow Jones Industrial Average finished down 0.5 per cent at 44,632.99. The broad-based S&P 500 shed 0.3 per cent to 6,370.86, while the tech-rich Nasdaq Composite Index declined 0.4 per cent to 21,098.29. BT in your inbox Start and end each day with the latest news stories and analyses delivered straight to your inbox. Sign Up Sign Up Both the S&P 500 and Nasdaq had finished at records on Monday. Steve Sosnick of Interactive Brokers described Tuesday's activity as a 'little bit of position squaring ahead of a potentially very volatile few days.' Besides earnings from Apple, Facebook parent Meta and other tech giants, markets will absorb a Federal Reserve interest rate decision. The central bank is expected to keep rates unchanged, but could hint that an interest rate cut will be more likely in September. Trump has lambasted Fed Chair Jerome Powell for not cutting interest rates. The market will also receive key economic reports on the labor market, inflation and US growth. Among companies reporting earnings on Tuesday, Boeing dropped 4.3 per cent, UnitedHealth Group sank 7.4 per cent and Whirlpool dived 13.4 per cent Union Pacific announced it will be acquiring Norfolk Southern for US$85 billion, creating a transcontinental railroad intended to boost freight rail efficiency. Union Pacific fell 2.3 per cent while Norfolk Southern fell 3.0 per cent. Analysts expect the deal to encounter regulatory scrutiny. Oil services company Baker Hughes said it would acquire Chart Industries for US$13.6 billion, adding assets in natural gas, data centres and decarbonisation. Baker Hughes dropped 1.7 per cent while Chart surged 15.8 per cent. CyberArk Software surged 13.5 per cent following a report it was in talks to be acquired by Palo Alto Networks in a merger of cybersecurity ventures. Palo Alto fell 5.2 per cent. AFP
CNBC
3 days ago
- Business
- CNBC
Stocks making the biggest moves premarket: Novo Nordisk, Whirlpool, Sarepta Therapeutics and more
Check out the companies making headlines before the bell. Chart Industries — Shares of the gas equipment manufacturer surged 16% after it agreed to be acquired by Baker Hughes for $13.6 billion. Chart Industries had previously been in merger talks with power equipment supplier Flowserve , which was last up 8%. Baker Hughes shares fell 3%. The deal news comes as Chart reported better-than-expected second-quarter earnings, excluding items. Sarepta Therapeutics — The biopharmaceutical stock soared 38% after announcing that the Food and Drug Administration had recommended removing its voluntary hold on Elevidys for use with ambulatory patients, which was instated following a recent patient death. On Tuesday, Oppenheimer upgraded the stock to an outperform rating from perform, while JPMorgan upgraded shares to neutral from underweight. Cadence Design Systems — Shares gained 8% after the computer software company posted second-quarter adjusted earnings of $1.65 per share on $1.28 billion in revenue. Analysts polled by LSEG had expected earnings of $1.55 per share and revenue of $1.25 billion. The company also lifted its full-year earnings and revenue guidance. Nucor — The steel producer fell 4% after posting adjusted earnings and revenue for its second quarter that missed analysts' expectations, per LSEG. Nucor also anticipates its third-quarter earnings will be " nominally lower " than those of its second quarter. Amkor Technology — Shares popped 11% after the semiconductor packager reported second-quarter earnings of 22 cents per share on revenue of $1.51 billion. Analysts surveyed by FactSet had penciled in earnings of 16 cents per share and $1.42 billion in revenue. Stellantis — U.S.-listed shares fell 3% after the automaker reported a first-half net loss of 2.3 billion euros, or $2.65 billion. Over the same period in 2024 it had reported a net profit of 5.6 billion euros. The company also reinstated its financial guidance. UnitedHealth Group — The health insurer shed 2% after sharing a 2025 outlook that missed analysts' expectations . UnitedHealth forecast adjusted earnings for fiscal year 2025 of $16 per share, coming below the $20.91 per share consensus estimate per LSEG. The company's anticipated fiscal-year revenue of $448 billion was also less than the expected $449.16 billion. United Parcel Service — Shares sank 5% after the shipping company said it earned $1.55 per share, after adjustments, slightly missing the $1.56 per share analysts polled by LSEG had expected. The company also did not provide revenue guidance, citing macroeconomic uncertainty. Merck — Shares dropped 4% after the pharmaceutical giant missed revenue expectations for the second quarter. Revenue of $15.81 billion was less than the LSEG consensus estimate of $15.89 billion. The company also said it would cut $3 billion from costs by the end of 2027. Whirlpool — The home appliance stock stumbled 17% after missing analysts' second-quarter estimates . The company also projected full-year adjusted earnings that were below consensus. Following the report, Bank of America downgraded the stock to an underperform rating from neutral. Union Pacific , Norfolk Southern — Union Pacific shares rose 1%, while Norfolk Southern slid 3% after the two companies said they're merging in a $250 billion stock and cash agreement, creating the first transcontinental railroad . PayPal — The stock slid 4% after PayPal issued third-quarter earnings guidance that fell short of expectations. The payments company expects adjusted per-share earnings of $1.18 to $1.22, on the lower end of the FactSet consensus estimate of $1.21. On the other hand, the company beat earnings and revenue expectations for the second quarter. Novo Nordisk — U.S.-listed shares tumbled 20% after the Danish pharmaceutical giant slashed its full-year sales and profit guidance . Novo Nordisk expects weaker growth in the U.S. for its obesity drug, Wegovy. The company also named internal candidate Maziar Mike Doustdar as its new CEO. Boeing — The aerospace and defense company rose more than 1% after posting a second-quarter adjusted loss of $1.24 per share, which was narrower than the expected loss of $1.48 per share, according to LSEG. Boeing's $22.75 billion revenue exceeded expectations of $21.84 billion. Last quarter, Boeing delivered the most airplanes it had since 2018 . Corning — The materials science and technology stock added more than 6% after posting second-quarter adjusted earnings of 60 cents per share, beating the 57-cent LSEG estimate. Corning's $4.05 billion revenue also beat estimates for $3.86 billion. — CNBC's Michelle Fox, Alex Harring and Sarah Min contributed reporting.
