Wall Street thought Halliburton (HAL) would do well last quarter. The First Call estimates were for $0.56 EPS on nearly $3.5 Billion in revenues. As it turned out income from continuing operations in the second quarter of 2007 was $595 million, or $0.63 per diluted share. And, Halliburton’s consolidated revenue in the second quarter of 2007 was $3.7 billion, up 20% from the second quarter of 2006
According to Reuters, "Halliburton Chief Executive Dave Lesar also offered investors reassuring words about North America, the company’s largest market, where there has been worry about over capacity in the well stimulation and fracturing business."
The stock should hit a new 52-week high today.
Douglas A. McIntyre
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