Baker Hughes Incorporated (BHI) Finishes Higher After Q3 Results

Shares of Baker Hughes Incorporated (NYSE: BHI) traded higher today after the company reported its third-quarter financial results. The stock ended the day 4.20% higher at $48.37, on above average volume of 9.85 million. It touched a high of $49.49 in regular trading. The stock is active again in after-hours trading, climbing another 0.31% to $48.52. Baker Hughes reported third-quarter net income of $255 million, or $0.59 per share, compared with net income of $55 million, or $0.18 per share reported in the third quarter of 2009. The company reported third-quarter revenue of $4.08 billion, up 83% over the third quarter of 2009. Baker Hughes', Chairman and CEO, Chad C. Deaton, said that the company's third-quarter results in North America reflect the seasonal recovery in Canada and the strength of the its U.S. Land market. Baker Hughes Incorporated is a Houston, Texas-based company, engaged in the oilfield services industry. The company supplies wellbore related products and technology services and systems and offers products and services for drilling, formation, evaluation, completion and production, and reservoir technology and consulting to the worldwide oil and natural gas industry. Disclaimer: The assembled information distributed by epicstockpicks.com is for information purposes only, and is neither a solicitation to buy nor an offer to sell securities. Epicstockpicks.com does expect that investors will buy and sell securities based on information assembled and presented herein. EpicStockPicks.com will not be responsible in any way for or accept any liability for any losses arising from an investor's reliance on or use of information obtained from our website or emails. PLEASE always do your own due diligence, and consult your financial advisor.
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