Blue chip corporate earnings propped the markets all week long, with the Dow Jones Industrials
Gain/ Loss %
|Dow Jones Industrial Average||-120.79||-.93%|
|WTI Oil Futures||-1.30||-1.39%|
Source: Yahoo! Finance
Starting with the Dow, General Electric
Good news came from the oil services industry, as two of the big boys surprised Wall Street before the market opened. Baker Hughes (NYSE: BHI) smashed expectations, increasing second quarter net income by 30%, displacing a stellar EPS of $1 and beating analyst expectations by 23 cents. The oil field services provider was pleasantly surprised by the surge in international revenue and increased margins, as the domestic picture remained flat. Baker Hughes surged after announcing its second quarter earnings, increasing its share price by 9.2%. Schlumberger
Joel South owns shares of no company listed above. The Motley Fool has a disclosure policy.
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