UPDATE: Baker Hughes Shares Reverse Course, Rise 3% on Guidance

By MidnightTrader.com Staff,

Shutterstock photo

Shares of Baker Hughes ( BHI ) are now up 3.3% at $41.98, after trading as low as $39.65 earlier in the session, after the company projected North

America revenue and profit margins to be lower than previous expectations due

to weaker than anticipated onshore activity and further price erosion within

Pressure Pumping operations.

It now sees North America operating profit before tax margin to be between 8.5% and 9.5% for Q4, as compared to 11.7% in Q3 of 2012.

The company also expects international operating profit before tax margin to

be similar to the 12% reported in Q3 of 2012, excluding the impact of bad

debts recognized in Latin America and Europe.

Shares have a 52-week range of $37.08 - $52.96.

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

Copyright (C) 2014 MTNewswires.com. All rights reserved. Unauthorized reproduction is strictly prohibited.

This article appears in: Investing Commodities
Referenced Stocks: BHI

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