On Monday morning, the Dow Jones and the S&P 500 were trading down while the Nasdaq, which was the only index in the green, also turned to the red.
This week, several companies report their quarterly results. Halliburton Co. (HAL, Financial) released its results for the second quarter this morning.Ă‚
Halliburton’s stock surged nearly 3% in pre-market trading, but quickly fell into the red zone. For the second quarter, the company posted EPS of 23 cents, which represents an increase of 264% on the year. The company’s revenue of $4.96 billion was higher by 29.5% year over year. Moreover, Halliburton managed to beat EPS expectations by five cents and revenue expectations by $200 million.
Halliburton President and CEO Jeff Miller said he is pleased with the company's results.
"We continue to execute our strategy to maximize asset value for our customers and deliver differentiated services that we believe will generate superior returns over the long term,” Miller said.
North America revenue growth was 24% and margins grew into the double digits. Futher, the company did well in most of its markets, helping boost the global market share.
Completion and production revenue was $3.1 billion, a 20% increase from the first quarter. Drilling and evaluation reached $1.8 billion, a 9% increase due to incremental activity in the U.S., Latin America and Russia.
Stocks to watch
Reata Pharmaceuticals Inc. (RETA, Financial), WebMD Health Corp. (WBMD, Financial), NeuroDerm Ltd. (NDRM, Financial), TearLab Corp. (TEAR, Financial) and Cal-Maine Foods Inc. (CALM, Financial).
Europe
European markets also traded with mixed results. The FTSE 100 was down more than 1% and the German DAX was down 0.18%, but the CAC 40 and IBEX 35 Ă‚ were 0.3% in the green.
Disclosure: The author holds no position in any stocks mentioned.
