Strictly: Drilling and oil-field services Message Board

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Gold/Mining/Energy : Strictly: Drilling and oil-field services

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To: SliderOnTheBlack who wrote (52457)	10/5/1999 3:26:00 PM
From: ItsAllCyclical	Read Replies (1) of 95453

HAL's action today is even more amazing since many analyst applaud the asset sale. 1) It's not contributing the way it should. 2) It doesn't really fit their core assets. They'll have a one-time gain much larger than the lost eps for the next few quarters. The cost savings from the merger is expected to be 500 mil vs previous estimates of 250 mil. Long term positives...one or two quarters of short term negatives. ........................... Industry analysts welcomed Halliburton's decision to sell its stake in the two underperforming joint ventures to partner Ingersoll-Rand Co. (NYSE:IR - news) for about 1.1 billion cash. ``While the stock may remain under pressure due to near-term guidance for weaker-than-expected earnings, we view these transactions positively and applaud the company for seizing the opportunity to shed underperforming assets and deploy the proceeds to fortify an already strong balance sheet,' said James Wicklund, an analyst with Dain Rauscher Wessels. cbs.marketwatch.com fool.com

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