Market Currents

• Monday, November 23, 2009

• 09:04 AM BJ Services (BJS): FQ4 EPS of -$0.01 vs. consensus of $0.02. Revenue of $878M (-41.9%) vs. $814M. BJS is slated to merge with Baker Hughes (BHI) in Q1. Shares +1.1% premarket. (PR) 1 Comment

• Wednesday, November 4, 2009

• 09:00 AM Premarket gainers: GNVC +36%. ABK +26%. PACR +25%. IRE +20%. ACAS +18%. AIB +11%. MBI +9%. PMI +8%. ARNA +7%. HIG +7%. RDN +6%. EXM +6%. ALU +6%. MPEL +6%. XOMA +5%. IBN +5%. MGM +5%. GRMN +5%. DRIV +4%. FAS +4%. FRE +4%. RCL +4%. ING +4%. VGZ +4%.
  Losers: STEC -31%. VG -8%. CVM -6%. CCI -6%. BHI -4%. Comment!
• 05:52 AM Baker Hughes (BHI): Q3 EPS of $0.26 misses by $0.10. Revenue of $2.23B (-26%) in-line. Says international results were negatively impacted by price discounting. Expects to complete acquisition of BJ Services (BJS) in Q1 2010. (PR) 1 Comment
• 00:05 AM Notable premarket earnings: ABK, ADP, AGU, BDX, BHI, CMCSA, DVN, FWLT, GRMN, HUN, IAG, LIZ, MFA, MMC, PHM, PWR, RDN, RIG, RRD, TAP, TEL, TOT, TRW, TWX, WTR, XTO 1 Comment

• Saturday, October 10, 2009

• 16:17 PM In aggregate, short interest in U.S. stocks continues to decline. But that doesn't mean shorts have gone away altogether. Current favorites: Eastman Kodak (EK), Rite Aid (RAD), Baker Hughes (BHI), Starbucks (SBUX) and JetBlue Airways (JBLU). 1 Comment

• Monday, August 31, 2009

• 09:00 AM Premarket gainers: SVA +12%. BJS +11%. KFN +10%. PACR +7%. HEB +5%. ETFC +4%.
  Losers: IRE -12%. AIG -9%. AIB -8%. PNX -8%. ABK -8%. FRE -7%. CIT -7%. FNM -6%. YRCW -5%. JASO -4%. CHU -4%. BHI -4%. Comment!
• 06:14 AM Baker Hughes (BHI) to acquire BJ Services (BJS) in a $5.5B cash/stock deal. BJS shareholders will receive 0.4 shares of BHI and $2.69, a 16.3% premium over Friday's close. BHI says it will see annual savings of $75M in 2010 and $150M in 2011, and that the deal "further enhances its position as a top-tier global oilfield services company." (PR) 4 Comments

• Wednesday, August 5, 2009

• 06:40 AM Baker Hughes (BHI): Q2 EPS of $0.41 misses by $0.05. Revenue of $2.3B (-22%) vs. $2.25B. Shares -0.9% premarket. (PR) Comment!
• 00:05 AM Notable earnings before Wednesday's open: AGU, AVT, AXL, BHI, BYD, CNP, DF, DVN, EXM, FIG, FWLT, GRMN, MMC, OC, OSG, PCG, PG, PQ, PWR, RDN, RIG, RL, RRD, XTO Comment!

• Tuesday, June 9, 2009

• 12:56 PM Rig counts are still falling, but analysts at FBR think four oil-drilling firms (SLB, DO, SII, BHI) are poised for a rebound. Comment!

• Wednesday, April 29, 2009

• 05:38 AM Baker Hughes (BHI): Q1 EPS of $0.82 beats by $0.06. Revenue of $2.7B (-0.1%) vs. $2.6B. (PR) Comment!
• 00:05 AM Notable earnings before Wednesday's open: ABX, AET, AMG, AMT, ARW, BHI, BKC, CNP, ENDP, FCN, GD, GT, HES, IACI, JNY, MCO, MHS, MT, MTG, MWV, NYB, PX, Q, RAI, RDS.A, ROK, SAP, SEE, SI, SO, SPIL, SPW, TEL, TLM, TWC, TWX, UMC, VPHM, WMI, WYE, WYN Comment!

• Wednesday, January 28, 2009

• 06:08 AM Baker Hughes (BHI): Q4 EPS of $1.41 beats by $0.15. Revenue of $3.19B (+16.3%) vs. $3.05B. (PR) Comment!
• 00:05 AM Notable earnings before Wednesday's open: AAI, AMG, BA, BDX, BEN, BHI, COP, DOV, GD, HES, LM, MWV, NVS, NYT, PX, SAP, SO, SY, T, TDW, TEL, USG, WFC, WLP Comment!

• Tuesday, January 27, 2009

• 11:46 AM Baker Hughes (BHI +0.3%) cutting 1,500 jobs, or about 4% of its workforce. Comment!

• Thursday, October 23, 2008

• 15:54 PM Sources say Baker Hughes (BHI +1.4%) is offering $1.25B in senior bonds of five- and 10-year maturities today, at 400 BPs above Treasury yields. If so, that's a smaller spread than seen for similar deals recently. Comment!