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Baker Hughes Inc (BHI)

BHI on New York Consolidated

66.32USD
9 Dec 2016
Change (% chg)

$0.51 (+0.77%)
Prev Close
$65.81
Open
$66.31
Day's High
$66.61
Day's Low
$65.63
Volume
2,219,982
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3,981,811
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$67.07
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Latest Key Developments (Source: Significant Developments)

Baker Hughes says avg. U.S. rig count for Nov 2016 was 580
Wednesday, 7 Dec 2016 06:00am EST 

Baker Hughes Inc : Baker Hughes announces November 2016 rig counts . Baker Hughes Inc - Average U.S. Rig count for November 2016 was 580, up 36 from 544 counted in October 2016, . Baker Hughes Inc - Worldwide rig count for November 2016 was 1,678, up 58 from 1,620 counted in October 2016 . Baker Hughes Inc - International rig count for November 2016 was 925, up 5 from 920 counted in October 2016 . Baker Hughes Inc - International offshore rig count for November 2016 was 211, up 11 from 200 counted in October 2016 .Baker Hughes- Average Canadian rig count for November 2016 was 173, up 17 from 156 counted in October 2016, and down 5 from 178 counted in November 2015.  Full Article

Baker Hughes announces October 2016 Rig counts
Monday, 7 Nov 2016 06:00am EST 

Baker Hughes Inc : Baker Hughes announces October 2016 Rig counts . Baker Hughes Inc - Announced today that International rig count for October 2016 was 920, down 14 from 934 counted in September 2016 . International Offshore rig count for October 2016 was 200, down 21 from 221 counted in September 2016 . Baker Hughes Inc - International Offshore rig count for October 2016 was 200, down 21 from 221 counted in September 2016 . Average U.S. Rig count for October 2016 was 544, up 35 from 509 counted in September 2016 . Baker Hughes Inc - Worldwide rig count for October 2016 was 1,620, up 36 from 1,584 counted in September 2016 .Average Canadian rig count for October 2016 was 156, up 15 from 141 counted in September 2016.  Full Article

Baker Hughes to pay GE $750 mln if deal between companies terminates - SEC filing
Tuesday, 1 Nov 2016 10:52am EDT 

Baker Hughes Inc : Transaction agreement with GE provides for payment by company to GE of termination fee of $750 million in case of certain events - SEC filing .Also required to reimburse GE for certain expenses (up to $40 million) if deal is terminated if company's stockholders do not approve deal.  Full Article

Fitch says GE/Baker deal underscores oil patch efficiency push
Tuesday, 1 Nov 2016 10:10am EDT 

Fitch Ratings : GE/Baker deal underscores oil patch efficiency push . expect global exploration & production (E&P) spending/activity to "moderately increase" in 2017, with a more robust growth profile in 2018 .believes regulatory risks should be less than hurdles experienced in previously proposed Halliburton-Baker hughes merger.  Full Article

Nelson Peltz on GE-Baker Hughes deal- I think it's a great deal - CNBC
Monday, 31 Oct 2016 09:56am EDT 

: Nelson Peltz on GE-Baker Hughes deal- I think it's a great deal - CNBC . Nelson Peltz on GE-Baker Hughes deal- New company can go nose to nose with Schlumberger - CNBC ((Bangalore.newsroom@thomsonreuters.com;)).  Full Article

GE plans to sell GE Water - presentation discussing Baker Hughes deal
Monday, 31 Oct 2016 09:09am EDT 

GE : Plans to sell GE Water, targeting mid-2017 close for deal - presentation discussing Baker Hughes deal . Gain from selling GE Water will fund restructuring and integration costs for Baker Hughes deal - presentation . Gain from selling GE Water will include up to $1 billion in excess gain to fund core GE restructuring - presentation discussing Baker Hughes deal Further company coverage: [GE.N] ((bangalore.newsroom@thomsonreuters.com;)).  Full Article

GE talking to Baker Hughes regarding "potential partnerships", but not "an outright purchase" - CNBC
Thursday, 27 Oct 2016 07:27pm EDT 

: General Electric is talking to Baker Hughes regarding "potential partnerships", but not "an outright purchase" - CNBC ((bangalore.newsroom@thomsonreuters.com;)).  Full Article

Baker Hughes does not see activity in Gulf Of Mexico getting better until mid-2017 - Conf call
Tuesday, 25 Oct 2016 09:51am EDT 

Baker Hughes Inc: "We continue to believe that oil prices in the mid to upper 50s are required for sustainable recovery in North America" . Says holds nearly 50 percent of drilling share in the DJ Basin . Says does not expect activity in Gulf Of Mexico to get better until mid-2017 . "We need $65 in West Africa, to see a recovery there" . "Internationally, we need to see oil at $55 for any recovery" . "We don't expect to have significant direct sales in Q4" . Says evaluating opportunities to further optimize global manufacturing footprint . Says in terms of overall size, envision to have a very large business in Russia, "but it will be a hybrid" . Says picked up over a 100 drilling rigs in Russia over the past 8 months Further company coverage: [BHI.N] ((Bangalore.newsroom@thomsonreuters.com;)).  Full Article

Baker Hughes Q3 adjusted non-gaap loss per share $0.15
Tuesday, 25 Oct 2016 06:30am EDT 

Baker Hughes Inc : . Q3 gaap loss per share $1.00 . Q3 revenue $2.4 billion versus I/B/E/S view $2.41 billion . . Q3 adjusted non-gaap loss per share $0.15 . In q4 of 2016 co expect activity in north america to modestly increase . Q3 earnings per share view $-0.44 -- Thomson Reuters I/B/E/S . Cash flows from operating activities were $119 million for quarter . Baker hughes-internationally, see activity declines, pricing pressure to continue, with minimal year-end, seasonal product sales unlikely to offset declines . Baker hughes inc - this quarter exceeded original cost reduction goal for year-end, setting a new annualized cost savings target of $650 million for 2016 . Baker hughes inc - "we expect market conditions to remain challenging near term" .Baker hughes - this quarter, co exceeded original cost reduction goal for year-end, setting new annualized cost savings target of $650 million for 2016.  Full Article

Valueact Capital Management L.P. reports 7.0 pct stake in Baker Hughes as of Sept 28
Monday, 3 Oct 2016 06:44am EDT 

Baker Hughes Inc : Valueact Capital Management L.P. reports 7.0 percent stake in Baker Hughes Inc as of september 28, 2016- SEC filing .Valueact Capital Management L.P. had earlier reported a 9.0 pct stake in Baker Hughes Inc as Of April 18, 2016 - SEC filing.  Full Article

UPDATE 2-Baker Hughes to form fracturing JV with Goldman Sachs, CSL Capital

Nov 29 Baker Hughes Inc said it has reached an agreement with CSL Capital Management and Goldman Sachs Group Inc's merchant banking division to create a hydraulic fracturing company in which Baker Hughes will own a 46.7 percent stake.