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Gold/Mining/Energy : Strictly: Drilling and oil-field services -- Ignore unavailable to you. Want to Upgrade?

To: SliderOnTheBlack who wrote (52457)	10/5/1999 3:26:00 PM
From: ItsAllCyclical	Read Replies (1) \| Respond to 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

To: SliderOnTheBlack who wrote (52457)	10/5/1999 3:32:00 PM
From: Think4Yourself	Respond to of 95453

I gotta agree - incredible carnage in the face of dramatically improved fundamentals. Earnings coming in less than a week, about to break 300 MMbbl storage, multi-year high oil/NG prices, insufficient drilling activity, how long can this carnage last? HAL continues to get CRUSHED: Down 6 1/16 at 3:15 on over 13 million shares. Gee, reminds me of the two high tech stocks CNBC discussed this morning. Both had unexpected earnings warnings. Both got INSTANT 35-50% haircuts. Yeah, I want to own a 50$ stock in a company with < $1 Mil earnings and a price-to-sales ratio of over 1,000!! Last time I saw this level of carnage was last year when OPEC failed to cut as was expected of them.