Energy Stocks Lower; Oilfield-Service Firms Slump After U.S. Rig Count Declines

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Energy stocks are lower. Crude oil for November delivery is down $0.40 at $103.44 per barrel while November natural gas is $0.14 higher to $3.65 per 1 million BTU.

In company news, oilfield service companies are lower after Baker Hughes Inc. ( BHI ) said the number of rigs it had in the field throughout the U.S. fell during September by 21 rigs from the prior month.

World wide, BHI had 1,267 rigs in use last month, up 15 rigs from August but down 37 compared to year-ago levels.

At last look, BHI shares were down 0.2% at $49.33 each, earlier falling as low as $48.76.

Other oilfield-service firms are taking even harder hits, including a 2.1% slide for Nabors Industries Ltd ( NBR ) as well as a 1.9% decline for Helmerich & Payne ( HP ). Halliburton ( HAL ) is holding on to a small gain, rising about 0.6%.

In other sector news,

(+) LTBR (+14.2%) Nuclear-power company selected to be technical adviser for new plants to be built and operated by Korea Hydro and Nuclear Power Co. in South Korea

(-) ACFN (-23.3%) Warns Q3, FY13 and FY14 EPS will be "materially" below consensus expectations.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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This article appears in: Investing , Commodities
More Headlines for: BHI , HAL , HP , NBR


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