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HALLIBURTON PROFIT BEATS ESTIMATES; STOCK SPIKES -

20-Apr
20:54 IST

Halliburton’s stock is currently trading at 7.65-higher by 0.92% as compared to the previous closing price. In the pre-market trading session, the stock was trading lower by 7.26%. The stock has pared all of its earlier losses and turned positive after the opening bell.

The oilfield services company reported its first-quarter earnings before the market opens on Monday. Halliburton generated an EPS (excluding charges) of 31 cents for the first quarter. The EPS was above the market expectation of 24 cents. The company brought in $5.04 billion in revenue for the first quarter. The revenue was also above the consensus estimates of $5.02 billion.

The oilfield services company, however, warned that North American activity will sharply fall during the second quarter due to oversupply and a massive decline in crude demand. Halliburton has laid off hundreds of its staff. The company said it would lower capital expenditure for the year to $800 million. Stocks of Halliburton have fallen about 68% Year-to-date.

On the technical front, the current price is above the MA5. The current price is above the middle line of the Bollinger Bands and is heading upwards. The RSI is currently at 44.81% and suggests that the market can move in the upward direction.

Overall Bias is Positive and short-term trades can be initiated with tight Stop Loss and Profit target.

 

TRADE SUGGESTION- LIMIT BUY AT 7.63 TAKE PROFIT AT 7.97 STOP LOSS AT 7.46

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22-Jul
23:06 IST

Halliburton’s stock is currently trading at 23.28-higher by 7.06% as compared to the previous closing price. In the pre-market trading session, the stock was trading higher by 2.07%. The stock has continued gaining after the opening bell.

The oilfield services company reported its second-quarter earnings before the market opens on Monday. Halliburton generated an EPS (excluding one-time items) of 35 cents for the second quarter. The EPS was above the market expectation of 30 cents. The company brought in $5.93 billion in revenue for the second quarter. The revenue was, however, below the consensus estimates of $5.97 billion.

The CEO disclosed that the company idled equipment during the quarter and will continue to do so. Stocks of Halliburton have fallen about 18.2% so far this year. The company’s stocks were, however, set for the largest one-day gain in about three years.

On the technical front, the current price is above the MA5. The current price is above the middle line of the Bollinger Bands and is heading upwards. The RSI is currently at 53.05% and suggests that the market can move in the upward direction.

 

TRADE SUGGESTION- LIMIT BUY AT 23.24 TAKE PROFIT AT 23.51 STOP LOSS AT 23.10

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