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Halliburton Plunged: What You Need to Know

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Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.

What: Shares of Halliburton (NYSE: HAL  ) fell more than 15% on massive volume before recovering somewhat after it was revealed that the company may have known the cement it used in the BP (NYSE: BP  ) well was unstable before it exploded.

So what: A presidential commission found that similar cement had failed Halliburton's own test. The company seems to have mentioned that to BP, but apparently one or both companies failed to do something about it before the well exploded, killing 11 and wrecking the Gulf of Mexico.

Now what: It's not clear yet whether the huge stock slide – which knocked about $2.5 billion off Halliburton's market capitalization -- is warranted. That would largely depend on if the company has been exposed to new liabilities as a result. Oh, Halliburton.

Ilan Moscovitz doesn't own shares of any company mentioned. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.

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Comments from our Foolish Readers

Help us keep this a respectfully Foolish area! This is a place for our readers to discuss, debate, and learn more about the Foolish investing topic you read about above. Help us keep it clean and safe. If you believe a comment is abusive or otherwise violates our Fool's Rules, please report it via the Report this Comment Report this Comment icon found on every comment.

  • Report this Comment On October 28, 2010, at 4:40 PM, prime99 wrote:

    Just because players like Halliburton and BP have given the industry a black eye doesn’t mean investing in oil and natural gas companies is a bad play. There are other players that have performed exceptionally in light of the crisis in the Gulf this past summer, example being Exxon (XOM) and. Blue Dolphin Energy Company (BDCO). Check out how they compare over 52 weeks.

    Exxon vs Oil-

    Exxon isn’t to shabby but you definitely get more bang for you buck with Blue Dolphin

    Blue Dolphin Energy Company vs Oil-

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Related Tickers

10/21/2016 4:00 PM
BP $36.25 Up +0.20 +0.55%
BP CAPS Rating: ****
HAL $48.43 Down -0.32 -0.66%
Halliburton CAPS Rating: ****