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Halliburton Misses Slightly
Oilfield services company Halliburton Co. (HAL - Analyst Report) has swung to a third quarter net loss of $21 million, or 2 cents a share. However, Halliburton earnings of 76 cents a share topped analysts' estimates pegged at 75 cents. The result comes on the back of a quarter, when oil prices have been shaved off by more than 50%. The stock is up 11.83% since the opening bell.
Management said the result was hurt by 4 cents a share because of the hurricane-caused disruptions at its Gulf of Mexico facilities. The company warned that any further drop in energy prices could hit profitability more.
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| Market Summary | Feb 09, 2010 23:53 pm ET |
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