Baker Hughes Stock Rises 8%

(RTTNews) - Baker Hughes Company (BKR) shares climbed $4.70, or 8.21 percent, to $61.95 after the energy technology company reported late Sunday a sharp increase in second-quarter orders and expressed confidence in achieving the midpoint of its full-year guidance despite lower profit and revenue.

The stock opened at $60.62 and traded between $60.08 and $62.67 during the session on the Nasdaq. It has traded in a 52-week range of $41.96 to $70.41. Trading volume reached 3.59 million shares, compared with an average daily volume of 8.44 million shares.

Second-quarter net income slipped 3 percent to $681 million, or $0.68 per share, from $701 million, or $0.71 per share, a year earlier. Adjusted net income rose to $640 million, with adjusted earnings per share improving to $0.64 from $0.63. Revenue declined 2 percent to $6.742 billion from $6.910 billion, reflecting the impact of business dispositions.