Halliburton Company (NYSE: HAL) reported its financial results for the quarter ended March 31, 2020 today.
Halliburton slipped to a loss in the first quarter of 2020 from a profit last year due to the inclusion of impairments, other charges and a loss on the early extinguishment of debt. The top-line dropped by 12% due to the dual shock of a massive drop in global oil demand coupled with a resulting oversupply.
The company expects activity in North America’s land to sharply decline during the second quarter and remains depressed through year-end, impacting all basins. The company is taking swift actions to reduce overhead and other costs by about $1 billion, lower capital expenditures to $800 million, and improve working capital.
Oil demand has significantly deteriorated as a result of the COVID-19 pandemic outbreak and corresponding preventative measures taken around the world to mitigate the spread of the virus. For the remainder of 2020, the company expects a further decline in revenue and profitability, particularly in North America.
Weibo Corporation (NASDAQ: WB) reported first-quarter 2021 earnings results today. Net revenues increased by 42% year-over-year at $458.9 million and 31% increase on a constant currency basis. Net income attributable
Stock markets rallied amid mixed cues on the health of the labor market, with latest data showing that payrolls grew at a slower-than-expected pace while unemployment claims slipped below the
These days the tech world is abuzz with the legal battle between gadget giant Apple, Inc. (NASDAQ: AAPL) and Epic Games, which has elicited significant media interest. The trial in