Latest news with #SPC
Yahoo
8 hours ago
- Climate
- Yahoo
Orlando weather: Sizzling start to Monday before strong storms arrive
The Brief Another hot day is expected across Central Florida, with temperatures reaching the mid to upper 80s along the coast and closer to the low 90s inland. Shower and storm chances are increasing this afternoon, with the best chances for rain taking shape along and southeast of the I-4 corridor. Later this week, a warm front will lift north, helping to increase shower and storm chances. ORLANDO, Fla. - Seasonable temperatures are on the way for our Monday with increasing shower and storm chances, especially for this afternoon. Highs will climb into the mid to upper 80s along the coast and closer to the low 90s for inland areas. What to expect We'll stay mostly dry throughout this morning, with only the small chance of an isolated shower or storm across southern Osceola and Brevard Counties into late morning. The best chances of rain will take shape this afternoon for areas along and southeast of the I-4 corridor. Timeline Showers and storms will begin to pop up around 2-3pm, and will last through around 9-10pm tonight. A few strong storms will be possible today as well, as the SPC has placed areas southeast of I-4 under a low level 1 out of 5 risk of severe weather. With any strong storms, the main impacts will include gusty winds, hail, heavy downpours, and frequent lightning. Showers and storms will gradually taper off tonight. We'll stay warm and muggy throughout the night, especially for areas who see the rain today. Plan for lows in the upper 60s and low 70s. Looking ahead Unsettled weather takes shape as we head into middle and late parts of this week. This is due to a warm front that continues to gradually lift north, helping to bring an increase to shower and storm chances through at least mid week. By late this week, rain chances will be more typical of this time of year with the rainy season setting back up. Smoke from distant Canadian wildfires will bring reduced air quality to Central Florida starting today. Additionally, Saharan Dust sweeping off the coast of Africa will be working into Central Florida this week. Both of these factors will reduce air quality for much of the Sunshine State and could impact those with breathing or upper respiratory issues. The smoke and dust will also impact the look of our skies, giving a more milky look during the daylight hours and make for unique and more vivid sunrises and sunsets as well. Track live when storms move across your area using the FOX 35 Storm Tracker Radar below. Brevard County Flagler County Lake County Marion County Osceola County Orange County Polk County Seminole County Sumter County Volusia County U.S./National Radar STAY CONNECTED WITH FOX 35 ORLANDO: Download the FOX Local app for breaking news alerts, the latest news headlines Download the FOX 35 Storm Team Weather app for weather alerts & radar Sign up for FOX 35's daily newsletter for the latest morning headlines FOX Local:Stream FOX 35 newscasts, FOX 35 News+, Central Florida Eats on your smart TV The Source This story was written based on information shared by the FOX 35 Storm Team on June 2, 2025.
Yahoo
9 hours ago
- Business
- Yahoo
Baker Hughes, Cactus Create Joint Venture for Surface Pressure Control Services
Cactus to become majority owner and operator of Baker Hughes' surface pressure control product line, with Baker Hughes retaining 35% stake Joint venture combines complementary portfolios to lead technological innovation Aligns with Baker Hughes' ongoing strategy to optimize its portfolio HOUSTON and LONDON, June 02, 2025 (GLOBE NEWSWIRE) -- Baker Hughes (NASDAQ: BKR), an energy technology company, announced Monday an agreement to form a new joint venture with a subsidiary of Cactus, Inc. (NYSE: WHD, 'Cactus'), in which Baker Hughes will contribute its surface pressure control (SPC) product line. Cactus, a global manufacturer and service provider of pressure control equipment for oil and gas drilling, completion and production, will assume operational control, owning 65% of the joint venture, while Baker Hughes will retain a 35% stake. The joint venture will operate independently from Cactus' existing Pressure Control business and will focus on maintaining its leadership position in the international market for surface wellhead and production tree systems. This targeted portfolio refinement is aligned with Baker Hughes' focus on enhancing the durability of earnings and cash flow and will enable the company to reallocate capital toward higher-return opportunities, all while maintaining a strategic and disciplined approach to capital deployment. 'This transaction marks an important step in our ongoing portfolio optimization strategy, enabling us to sharpen our focus on core growth areas while continuing to drive higher returns, reinforcing our commitment to long-term value for our shareholders,' said Baker Hughes Chairman and CEO Lorenzo Simonelli. 'We remain committed to our valued SPC partners and customers whose operations we have proudly supported, and we believe this joint venture only enhances delivery of innovation and reliability in well control as the combined business will leverage Cactus' unconventional expertise and agility into international markets.' The closing of the transaction is subject to customary conditions, including regulatory approvals, and is expected to close in the second half of 2025. About Baker Hughes Baker Hughes (NASDAQ: BKR) is an energy technology company that provides solutions to energy and industrial customers worldwide. Built on a century of experience and conducting business in over 120 countries, our innovative technologies and services are taking energy forward – making it safer, cleaner and more efficient for people and the planet. Visit us at For more information, please contact: Media Relations Adrienne M. Lynch+1 Investor Relations: Chase Mulvehill+1 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
Reuters
11 hours ago
- Business
- Reuters
Oilfield equipment maker Cactus to buy controlling interest in Baker Hughes' unit
June 2 (Reuters) - Oilfield equipment maker Cactus (WHD.N), opens new tab said on Monday it would purchase a 65% interest in Baker Hughes' (BKR.O), opens new tab surface pressure control business for $344.5 million. The companies have agreed to form a joint venture to hold the SPC business, where Baker Hughes will retain a 35% stake post-closing. SPC designs, manufactures and services specialized wellheads and production tree equipment for international markets. "Its geographic footprint is highly complementary to Cactus' existing business, and this combination enables us to expand our reach as a capital-light manufacturer of highly-engineered products sold directly to end users," said Cactus CEO Scott Bender. Shares of Cactus rose 4.4% in premarket trading. The transaction is expected to close in the second half of 2025.
Yahoo
12 hours ago
- Business
- Yahoo
Baker Hughes, Cactus Create Joint Venture for Surface Pressure Control Services
Cactus to become majority owner and operator of Baker Hughes' surface pressure control product line, with Baker Hughes retaining 35% stake Joint venture combines complementary portfolios to lead technological innovation Aligns with Baker Hughes' ongoing strategy to optimize its portfolio HOUSTON and LONDON, June 02, 2025 (GLOBE NEWSWIRE) -- Baker Hughes (NASDAQ: BKR), an energy technology company, announced Monday an agreement to form a new joint venture with a subsidiary of Cactus, Inc. (NYSE: WHD, 'Cactus'), in which Baker Hughes will contribute its surface pressure control (SPC) product line. Cactus, a global manufacturer and service provider of pressure control equipment for oil and gas drilling, completion and production, will assume operational control, owning 65% of the joint venture, while Baker Hughes will retain a 35% stake. The joint venture will operate independently from Cactus' existing Pressure Control business and will focus on maintaining its leadership position in the international market for surface wellhead and production tree systems. This targeted portfolio refinement is aligned with Baker Hughes' focus on enhancing the durability of earnings and cash flow and will enable the company to reallocate capital toward higher-return opportunities, all while maintaining a strategic and disciplined approach to capital deployment. 'This transaction marks an important step in our ongoing portfolio optimization strategy, enabling us to sharpen our focus on core growth areas while continuing to drive higher returns, reinforcing our commitment to long-term value for our shareholders,' said Baker Hughes Chairman and CEO Lorenzo Simonelli. 'We remain committed to our valued SPC partners and customers whose operations we have proudly supported, and we believe this joint venture only enhances delivery of innovation and reliability in well control as the combined business will leverage Cactus' unconventional expertise and agility into international markets.' The closing of the transaction is subject to customary conditions, including regulatory approvals, and is expected to close in the second half of 2025. About Baker Hughes Baker Hughes (NASDAQ: BKR) is an energy technology company that provides solutions to energy and industrial customers worldwide. Built on a century of experience and conducting business in over 120 countries, our innovative technologies and services are taking energy forward – making it safer, cleaner and more efficient for people and the planet. Visit us at For more information, please contact: Media Relations Adrienne M. Lynch+1 Investor Relations: Chase Mulvehill+1 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
Associated Press
12 hours ago
- Business
- Associated Press
Baker Hughes, Cactus Create Joint Venture for Surface Pressure Control Services
Cactus to become majority owner and operator of Baker Hughes' surface pressure control product line, with Baker Hughes retaining 35% stake Joint venture combines complementary portfolios to lead technological innovation Aligns with Baker Hughes' ongoing strategy to optimize its portfolio HOUSTON and LONDON, June 02, 2025 (GLOBE NEWSWIRE) -- Baker Hughes (NASDAQ: BKR), an energy technology company, announced Monday an agreement to form a new joint venture with a subsidiary of Cactus, Inc. (NYSE: WHD, 'Cactus'), in which Baker Hughes will contribute its surface pressure control (SPC) product line. Cactus, a global manufacturer and service provider of pressure control equipment for oil and gas drilling, completion and production, will assume operational control, owning 65% of the joint venture, while Baker Hughes will retain a 35% stake. The joint venture will operate independently from Cactus' existing Pressure Control business and will focus on maintaining its leadership position in the international market for surface wellhead and production tree systems. This targeted portfolio refinement is aligned with Baker Hughes' focus on enhancing the durability of earnings and cash flow and will enable the company to reallocate capital toward higher-return opportunities, all while maintaining a strategic and disciplined approach to capital deployment. 'This transaction marks an important step in our ongoing portfolio optimization strategy, enabling us to sharpen our focus on core growth areas while continuing to drive higher returns, reinforcing our commitment to long-term value for our shareholders,' said Baker Hughes Chairman and CEO Lorenzo Simonelli. 'We remain committed to our valued SPC partners and customers whose operations we have proudly supported, and we believe this joint venture only enhances delivery of innovation and reliability in well control as the combined business will leverage Cactus' unconventional expertise and agility into international markets.' The closing of the transaction is subject to customary conditions, including regulatory approvals, and is expected to close in the second half of 2025. About Baker Hughes Baker Hughes (NASDAQ: BKR) is an energy technology company that provides solutions to energy and industrial customers worldwide. Built on a century of experience and conducting business in over 120 countries, our innovative technologies and services are taking energy forward – making it safer, cleaner and more efficient for people and the planet. Visit us at For more information, please contact: Media Relations Adrienne M. Lynch +1 713-906-8407 [email protected] Investor Relations: Chase Mulvehill +1 346-297-2561 [email protected]
