Great I was hoping these year I would get my 4% raise. Its time to find a new job
Halliburton Co. tumbled after warning investors that demand for its oil–drilling and fracking services won’t continue grow as much as it did in recent months.
The world’s biggest provider of fracking services fell as much as 7.4% for the day’s second–worst performance in the S&P 500 Index. North American order growth will “moderate” during the current quarter relative to the first three months of this year, while overseas drilling margins will drop as much as 1.25 percentage points. Chief Financial Officer Lance Loeffler cited a seasonal dip in sales of oilfield software.
The guidance suggests second–quarter operating income will come in below expectations, said George O’Leary, an analyst at Tudor, Pickering, Holt & Co.