27 Burst results for "Baker Hughes"
"baker hughes" Discussed on Permian Perspective Podcast
"Do it safely and efficiently for our customers here in the Permian. Fantastic let's talk a little bit about a conference. You just returned from in Italy yet. Yes how exciting was that very exciting? So acre uses. We have our annual meeting in Florence Italy and this was our twenty annual meeting in. It's always in Florence Italy. And what a fantastic being you to have an annual meeting. We had over seventeen hundred customers from around the world in attendance which is just phenomenal. Yeah it's unbelievable to bring that many customers together. This really isn't a conference where it's Baker used putting on our customers are the ones who are leading the monitoring the panels and we're talking about challenges and opportunities for our industry in this year's theme. We were really focused in on that energy transition and how we're going to come together to solve those challenges for industry which digital to. That was a a big theme as well but at the same time not only do we have those panels. We actually have a solution share so all of our technology is on display many of us that get to go internally you know it would take us probably a whole year to go and tore all the different sites around. Baker used to get that knowledge. That's in our solutions fair. So all of the technology that we have coming out is on display and we actually presented on Permian in Lawrence. Yeah you think it's wild to you. Go all the way to Florence to present Permian and share across the world but our presentation was on remote drilling and how we've been able to gain efficiencies with one of our local customers here through remote drilling and so many customers asking questions while I'm glad you said that I was GONNA ask. What was the number one question that people from around the world were asking you about the perm. Yeah well and that was it. How are you doing this? How are you working with your customer? And our customer actually presented with us so the rest of the customers got to hear our customer and how we worked together to stand up the remote center for them and how we've removed seventy five percent of our people off the field location and how we've been able to gain efficiencies and how we've been able to reduce in bt and they're all sitting together in a remote center so we're bringing their team members are team members and we're sitting off location and were drilling better wheels than we've ever drilled before and a lot of the customers wanted to know. How did we get there? What was the transition and we broke it down into phases and they really really learned from. Okay I can take this and I can implement it in my operation. I Bet I mean that is just incredible for them to hear that firsthand from you from your customer and seeing the fish. Nc because seventy five percent. You said you've taken us off location. That's a huge. When you think of the number wise you'd have some usually here. Ten percent fifteen percent bright seventy five percent. What has been the customer benefit that you've seen from that. So the standardization has been he but obviously safety right. I mean I think that's number. One is were removing people off. Location out of harm's way but the second benefit is the standardization between all of the rigs. That were that were operating. We're able to share lessons. Learned across the RIGS EASILY. Because we're all housed in that same remote center and in collaboration so when we see something going on were right there together and we can figure out. How do we mitigate? How do we overcome the challenge? And then we share that with the POD next door because they set up in pods for the different rigs and then we can have one directional driller looking over multiple rigs not just one rig and so again he can optimize across those rigs as well so one would think you're taking someone off location. How is that going to to work? But what we've seen is surprisingly better performance because we're able to collaborate and standardize across and really using technology to your benefit absolutely. Let's talk a little bit about technology because of there have been so many different cycles in this new energy cycle of course brings more technology and better ways to do things how has this been at the forefront of your transformation at Baker Hughes Aso. I mean obviously. We recently announced that. We're an energy technology company. Which is you catch yourself going when folks ask you about Baker US many of service providers say Oh were oil and gas company. What's really exciting about Baker? Using in our path forward is that were an energy technology company. We are helping our customers solve some of the greatest challenges as we move through this energy transition reduce the carbon footprint in our impact on the environment. And you know I feel like we have that technology in our portfolio. Not just again when we talked about earlier. The wall construction piece in the production piece. But we bring that expertise to utilize the natural gas and other ways and also measure methane. Yeah we have the sensors in the technology through our Avi toss our drones to measure methane emissions. Help our customers figure out where they're leaks are and how to solve those issues so again. It's just having all of that in our portfolio. Not just the wall construction and production. Is I think going to be really key for us as we move forward wonderful you mentioned challenges because I whenever group of people come together we always try to learn from each other right and you mentioned that in Italy. You talked about challenges. What are some of those challenges that you see moving forward in twenty twenty that we could all help each other out with and help overcome those challenges because I think as a business leader as a business owner? We want overcome the challenges that what do you see? Yes I think for the Permian in particular. One of the biggest challenges we're going to have to overcome is the fact of all the gas that were flaring and I. I covered that last year in podcasts. So they get the last number. I looked at was seven hundred. Mcs Per Day that we're flaring people who are not familiar with our industry when they see that or they're flying into the permanent night there's a very negative perception about our industry and to be honest with you. That's waste you know. But in some cases it's it's more efficient for our operators to flare than to use it and so we WANNA be that solution provider in collaborating with our customers to see. How can we take that and use it whether it's for a FRAC as which we talked about last year or is it for actual power and selling back to the grid and when we look at the Permian infrastructure for power there are large gaps in the grid and we can solve those gaps in the grid through utilizing natural? Gas into our turbines improvised infield power for our customers so me I really do. Think the Permian 's biggest challenges the fact that we've got to change that perception that we can show that we are reducing our carbon impact environment and that we are bringing energy to the world you know in a safe efficient manner that's environmental friendly you know and we all need energy right not to solar and wind because those will not tell the gap spoil gases a critical component of how we move forward and providing energy to the world. And I think when you're outside of the oil gas world you just don't realize how much energy use every day. I can't remember which podcast it was interviewing. Someone in they pointed out exactly everything in this room what comes off of energy and I just thought you know when you're not in oil and gas directly say you know when you're growing up you just don't think that way but the older you get the more you learn and the more that you're here's especially in the Permian if you're new to the area you realize just how much the world needs it and to be able to provide that energy to the world. It truly is remarkable. When you think about it is and that's something I feel like we're going to focus on this year for our employee base is to. How can we efficiently used energy? We feel like if it's not a habit at home then it will not be a habit at work now. We do have a lot of that technology already within our facilities of the automatic lights. You know the motion detection lives but again that's not everywhere right so we're really going to campaign and roll out. Term employee base be efficient at home be efficient at work conserve as as best as possible. Sore not impacting the environment and the second pieces. The recycling right recycling difficult to do here midlan and very difficult. It's a challenge if you don't make the effort that's right so simple things like we don't have the recycling pickup at our facilities. But what we're GONNA do in. Some of our offices is volunteer a rotation to take those recycles to the recycle center so in everybody raised their hand. When we came up with that idea. Oh count me in. I'm going to go on that rotation so nice you know. It may be a challenge for us to get some of the things done here to make those changes where were thinking about our environment. But you'd be surprised at how passionate our employee basis to step in and say you know what maybe we don't have that ability to have someone come and pick up. Are you know plastics right? But you know what we sorted out. I will volunteer to take it. So that's how we're going to solve and overcome. But maybe one day. We'll actually have a recycled pickup here. Midland we'll hope. Let's keep pushing for it. We can do it. And you'll kids are so good you know if you get kids going on something so encouraging them at a young age was going to ask you there any other tips that you can do as a family at home you mentioned of course if we go and recycle and drop off the light switch is is there anything else that we can do in our daily lives and get the kids involved because like I said they can be our biggest reminders champions because sometimes if I forget something I'll tell my youngest remind me of that. Yes they're on it. They'll remember in when they know something's important like this. They will encourage the family to do so. Yeah I'm seeing that lease with my children and the younger generation. They are very passionate about the environment they are in so they are kind of that gatekeeper as well recently. Just plastic bottles. How many water bottles do we go through in one of my son said? Why don't we have more water bottles? That are reasonable. And that's what I want to put my y water and but the second piece is also we adopted area here keep Midland beautiful and so getting my boys out there to help with cleanups I think is really important. And what's fun to watch as we go do that? But then they go out and clean up around Lee high school on their own right without being asked and they said well you know we're going to go and we're going to clean up Because this is unacceptable to me. That's just wonderful to see when the kids start caring about the environment as much as we all. Should you know when they started young age? It's just going to get better and better. And as they grow up and it's leading by example right they see me turning off the lights. They see me being conscious of our water usage. Because we know water here in the Permian you know it's not the greatest quality right and so we need to make sure we're conscious of that as well so we all do our part. Yes that's right absolutely. Let's talk a little bit about the ups and downs of the oil and gas businesses. We know we've seen some. Pretty fluctuating lately dislike today? We're below fifty dollars a barrel and so how as a company leader. How do you talk to your employees about that? And how do you? You know not get too worried. I guess I should say when you see the fluctuating price. Yeah I mean I think for us. It's been interesting over the last year to see that. A lot of activity that were seeing whether it's up or down is not based on commodity prices and it's really about our customers.
"baker hughes" Discussed on Permian Perspective Podcast
"I am sitting here today in Midland Texas with my friend Jimmy Butler the VP of Permian for Baker Hughes. Thanks so much for being with US Jamie. I Chris Great to be here. I'm so excited to talk all the fun and exciting changes at Baker and everything that's going on and you just recently had an an exciting trip Italy but before we get into our interview. I WanNa thank everyone who has shared our podcast with friends and colleagues. We truly have listeners. All over the world even in low France so thank you so much for listening. I really appreciate each and every one of you. I also would like to ask everyone to help our show out by taking a few minutes and leaving a review on itunes. I cannot thank you enough for doing this. We just recently had this fantastic review. They said Christopher's interview style brings out the best in her guests. Listeners brought into a conversation in which guests are allowed to be open about issues important to them professionally and personally krista interviews highlight the dichotomy between the hard scrabble oil business and the generous civically engaged attitude of the people who live in the Permian Basin. Wow thank you so much for those kind words. They didn't leave their names. O You know who you are. Whoever you are thank you so much I really appreciate you. Jamie thanks again for joining us. And congratulations on being nominated one of heart energies twenty-five influential women in energy for twenty twenty. How exciting was that when you found out. Oh just unbelievable. Almost had to pinch myself just wonderful nomination in recognition and even the class of women the other twenty four women in this twenty twenty s class so amazing talented and then even if you look at its third year so this is three years in the making. This has been going on and I looked at last year's twenty five in the year before that and it's just exciting to be in such a class in caliber of these amazing women of really truly. What an honor in that group and well-deserved. I have to say as well. I know that we visited before. But we WANNA get kind of. Everyone caught up with. Maybe they haven't listened to any of our previous podcast but tells a little bit about how you got an oil and gas and how you got here to the Permian all right so it's nineteen years. Though unbelievable. Last time we talked was eighteen years right so I've been in the Permian for about a year and a half now. Anna been with Baker used for nineteen years and nineteen years ago honestly. I just needed a job. So if you hear some of my podcast and speeches for her engagements that's really my story. I just needed a job right and I actually had not graduated from college yet and I was looking and Baker. Us hired me. I mean that is what you know going back in that time. Yeah you looked in the newspaper. It'll be. How did you find out that Baker Hughes was was hiring? Yeah I ran into. Actually my brother was coaching baseball. He was coaching tournament. Baseball and I ran into a leader Baker us and he asked me what I did and I said I was going to college and I was running a book warehouse Solo by myself while going to school and he said well have you thought about doing something different for your work and Baker. Use can help you finish out your degree so out. Yeah absolutely so actually interviewed for the first job. I didn't get it. And then that manager pass my resume onto another manager and said I think she'd be better fit for a role you have. I interviewed for that position. And yeah the rest is history so it was actually an administrative role so I started out at. I guess the bottom grade levels what we call them at Baker US and finished my degree and then I went into finance and then I went into marketing and then I went technology and then I went into supply chain and I finished my masters in supply chain management at Penn state going back and fourteen oversee park over a course of two years and then I went into manufacturing then I went to do field operations and then commercials so it was used doesn't at all crazy nineteen years and so a year and a half ago. I was in what we call our global accounts organization handling three of our largest accounts for Baker US across all product lines and an opportunity came to move to Midland Texas and leader Permian businesses. And I said yes absolutely why not. I mean this is the epicenter of oil and Gas. Right and I love your story. Because I've learned so many things just from hearing you just recap it even that first of all. If I don't succeed try try again right. Didn't get that I. I love for young women to hear that. Because sometimes you get that no one you think okay then this decision for me but you persevered and you were persistent and you kept going and then all these yeses then eventually led you to this. Vp position which is just incredible. Yeah it's amazing definitely when the bus pulls up you know. Don't turn it down so definitely get on the bus but at the same time if the bus doors shut you know. Think about what's that next bus that could pull up in. How can I overcome those challenges? And what can I learn and make myself better so I just think it's limitless possibilities and you just have to look at everything happens for a reason and you know when you fail or you make a mistake? How can you learn from it? And how can you move forward and turn that into an opportunity? Love that new definitely done that and then some let's talk a little bit about this one hundred th anniversary of the Permian which is a huge milestone an incredible to think of can you share what Baker is focusing on in the permian. Now yeah absolutely so we know that the Permian one hundred anniversary is a huge milestone for us. It's really exciting. To look back at the well that put us on the map in Nineteen twenty-three which was Santa Rita It produced for over seven decades. Which to me is like wow. That's amazing that a welcome produced that long but like the Permian Baker US also has over one hundred years of experience so I feel like that's what we bring to the table our legacy and our drive for innovation to the energy industry. You know obviously we bring all of that in a safe manner right. We protect our people the people island location in the environment. But at the same time I feel like a we can bring that expertise and knowledge to the well. Construction side in the production support side to support our customers to draw. Incomplete wells more efficiently. They can flow that I drew car- much sooner and they can also produce it longer and then the.
Baker Hughes And Two Months discussed on KRLD News, Weather and Traffic
"Oil drillers and traders are betting there won't be a recession drillers increase their activity on U. S. oil fields for the first time in almost two months Baker Hughes as active oil rigs went up this week by six to seven hundred seventy the rig count went up along with oil prices
GE stock has worst day in 11 years after Madoff whistleblower calls it a bigger fraud than Enron
"Shares in G. E. down more than eleven percent in New York trading that's the most in eleven years now it was precipitated when Harry Markopoulos he is the Bernie made off whistle blower well he accused G. E. of accounting fraud the claim alleges the company was hiding the depths of its financial problems and would need to significantly raise insurance reserves Bloomberg's Kathleen channel in ski explains at least on the insurance side it could be twenty nine billion dollars that's made an eighteen point five Joseph you reconcile it to some of its peers like potential financial another ten point five billion non cash charge if you think about these new insurance accounting standards that are set to come together in a couple of years he also pointed out the company's investment in Baker Hughes and says that there's some issues there either way you added up its size on the other side of the equation we had G. E. C. E. O. and chairman Larry call calling today's claims
"baker hughes" Discussed on Permian Perspective Podcast
"Just challenged challenged status cool. Speaking of challenges have been some of the biggest challenges that you have seen in your career so far that have gotten to where you are today. Honestly I think it'd been very fortunate of worked with a low of amazing people amazing managers and then you also get the you know not so good people work with but I think it's all learning and now as a you know relatively young manager Enuma position I often think backs to those time swin somebody's dealt with the situation really well and if admired them and and another time when a flow I would not handle a situation like that and I try and think about that law and it helps me keeps me you know on the right path normally and there's times I've done things I think maybe shouldn't have done that or I could do that. Baronets time so the biggest challenges is just you know taken in your stride and I think I've learned to take advice and criticism definitely used to bother mail when I first starts and industry and it does all of us inning so healthy and is your rent. Sometimes people will be wrong and there and it's it's not right but take on board. Thank you and there's often conversations or you know heated. Conversations may be or just long conversations I've had when I was training offshore with supervisors or in the workshop workshop and I learned so much from those people specifically no I think back and think that was some of the best advice ever got so not challenges as such but I look back now and think more fondly of them than German factual moment itself right hi good good learning learning times in your life so tell me what do you do with your team because you've been there and you're dealing now with these young people that are just fresh eager and ready to go tackle the world. How do you motivate them? What is your advice is to them? When when you're first getting your feet in the door absolutely honestly I'm very thankful that the new graduates are sold eager in keen to do things definitely helps when you're you know just starting in your career as a low of hard work and it should be honestly you need to learn from climbed up and and that the workshop time does free and building till's and I think quite often the perception is that you know engineers or people don't want to get their hands dirty and I would say that's not true for the majority of my is they're? They're the great <hes> and they want to learn and they want to be hands on so encouragement is normally get stuck in and learn as much as you can ask as many questions. It doesn't matter have stupid. You may think they are asked them. Because if you don't you won't learn and if you don't make mistakes then you learn from them so just go there and get stuck in really an that typically helps but there's times you know it's hard and this industries hard industry and fast paced and it's very hot here and people wanted the field so trying to give them balance and gave them through tough situations but we work with amazing people and I have to thank over people heard an operations and who are in the workshops assembly maintenance and overhaul that gate them because I don't. Get to spend every minute of my deal with each of them to do those things and they're certainly people in the company that have a lot more experience than those eighty so I do rely heavily on the team around me to help motivate them and get them involved in things fantastic you mentioned it's taught here. Yes West Texas is hot if you're living on the other side of the world listening to us. What do you think makes the Permian so great? Honestly I was talking to colleague wrote this earlier and I do really think that the people here have been wonderful and have made my time you know get getting acclimated here a lot easier and I mean outside of work of some fantastic you know friends for life sort people but in terms of career and personal growth there is there's so much for your career here and I think young professionals who are in oil and gas and who are potentially getting opportunity to come to the Permian should a hundred percent teak that opportunity. This is where it's happening in that we hear law people's perception. Oh we're not gonna like the aired or I don't WanNa move. There and I think that's really sad because they're messing. Honestly I would not have had opportunities I have had had been for me stain in Aberdeen. You know if I if I hadn't come here I wouldn't have had those opportunities and and I'm forever thankful. When I think back to win the offered me that possession to come to the Permian at a time? The director and Aberdeen didn't want me to move but he'd said to me all you know there's somebody in the primary in and they're they're looking. Can you and they really want to offer you a job to out there and I said one hundred percent I'm going to do it. Everybody was like why why are you WanNa do it and I was like well. Aberdeen is not picking up it still slow. I'm not going to learn anything state. I mean I'm going to continue to grow not other piece one ton. I'm ready for change and and then I remember speaking to the gentleman over here the today at the time about coming to the Permian and he was you know he was sailing. He was like it sunny. You know all of style work and implied by and I was like I have visited here before he was like Oh police. They'll take the job because I think people come in the days are the you know automatically think. It's not going to be a good place in one hundred percent is but Amazon you absolutely but the career ear opportunities and development are here <hes> and I would strongly advise people who are getting opportunity or who feel like they need something else and want to expedience. This is the place to be couldn't agree more. I can agree more. Let's talk about where we're everyone. Sees the Permian going and I know that we all wish we could just kind of go. Oh yeah this is GonNa you know oil's going to skyrocket to this and that and throw these numbers out. Where do you see it? And how does that play a role in your business. Honestly I feel that I I mean the oil and gas industries basically call and say comes up and it's GonNa come down and things but we're we're currently at. I think you know B._H._D.'s accompany. Our businesses based on more customers are doing as well so we do pivot a law and I and my department touches you know the drill in rake the wireline units the coil units work over unit so very fortunate in that sense that completions in well intervention plays a part and all of that and there's Times that you know we're busier on the call unit site fight for WORKOVER ANGELINA FRAC plugs and in clean versus you know drilling a hell gelling ahead on drilling rig and complete in the well with lighter hangers and things so I've seen shifts over the last two years but we are still growing which is great so I see her I._C._S.. Continuing to to be busy and working over the next couple of years whether that means our operators you know drop a little bit and Rick Cone bought maybe do more in the work oversight and trying to enhance production on some of the walls they've lost production over the years again. It depends we'll each student and there's some that were killing ahead especially last year and had a lot more wells completions setting as doc so they're basically waiting to complete them but that is pipeline constraints and I will not pretend an expert and they and I've certainly have a lot of educating myself to do on that but I am not concerned. That Permian is going to go away anytime soon. Honestly I'm with you. It's not going. We're here to stay. Let's talk a little bit about some business tools that have helped you and your life. Do you have any in particular that you would say really have helped you get to where you are today. So in terms of business tools honestly at Baker Hughes is being my biggest business till I start with them and I'm still with them to the stay on networking has been one of the you know the baked things for me within the company <hes> I've met people from all over the what else that helped me transition when out the opportunity to move internationally as well as communicate internally with different product lines different departments to learn things and improve things within my department so if that kind of answer your question I would say network in a huge thing avenue. That's a great tool and it's it's not just by the happy errors and the socializing. It's you know having that conversation with somebody in work. That does something that you don't know anything about because there's so many times I've had a brief conversation with somebody and and then months later I thought I wonder if that person will know why need or who need to speak to and they have right and that is helped me the best you the most actually been resourceful and reach out and am not free to ask people you may be don't know and and get to know them and and whatnot so maybe not much business tool but one of my business tools if that if that can answer questions I love that one and that one's free networking you just go talk to people and get to know them and build those relationships. I think that is a key in any business. I may cost you a coffee once that's about it. What about podcasts or books? Do you have any favorites that you listen to so and people who know me and may lesson to this after we'll laugh if talking about my big club because I am a repeat offender under for reading the Book Club and there forever forgiven me and letting me attend which I'm always thankful for but something we've started recently with Jimmy Butler and and the team is kind of pass more professional books and I would say ah there's no one that's really sticking out to me just yet but I'm Kinda just getting my feet wet there and reading and my advice would be do read a lot and encourage you to read about the business and where it's going and podcast like this for you know your local local eighty a- and there's a lot of names on there and people that you can learn something from so one hundred percent try and you know brancheau and and find things and there's always the you know the top ten bestsellers and things but most of the books I've heard about as of late is being with work so we've ministered this internal bit club and Jamie's the best of that she has so many wonderful books he reads and I love here and what she's reading. You know what your team is reading. She passed some good good ones and I ended up picking. Stop apologizing which makes me laugh so I I'm halfway through and so far so good. That's a good one. That's fantastic. What about your path? Where do you see yourself ten years from now? What is your goal in and the oil and gas business? I I'm on a great pass just now am I feel that you are you're doing great personally and professionally being very fortunate of how to work hard and there's definitely a lot more work to be done and six years in I think when I can retire and it's along so you're very young hope it continues in the direction as being and I've been very fortunate to hold several different positions with the company and there's a lot to be said about you know sticking with some something. Something for a period of time to really grasp it and mastered it because quite often and a large company when your progress and you know your potential you'll you'll maybe move position sometimes a little bit quicker than you would have liked and you can the just just master and you're trying to hone your skills and perfect them so like I just got that down now. Come on now I will say I'm definitely I've been open to a lot of change and and opportunities like the primary when they come up on. I and I certainly am open to travel with the company globally and you know progress up in the by clear so I hope these keep coming on l.. Certainly be lots of yeses for me but it has to make center has to make make sense professionally and personally and this position to calm was an opportunity to manage a team get closer to operations again which was where my heart was honestly and a really missed it. When I was in my social oval that was amazing? expedients audience commercial <unk> expedients unagreed introduction to the Party and and I see myself you know going back into that kind of role later my career but yeah definitely like what I'm doing currently and excited to see how mateen grew over the next year and how they progress progress because they're the pipeline in the future so fantastic. Do you have favorite quote that you live by. Oh my goodness. You knew I was Gonna ask that right. I'm laughing again my colleague I keep referring to she'll laugh when she she listens to this cushy does listen to all your all of the podcast and love hearing that and thank you for listening and we normally have a cool off our team meetings which is so funny like we Google every call and we call them off so I'm trying to think of my favorite one talent is nothing without hard..
"baker hughes" Discussed on Bloomberg Radio New York
"On Wall Street time now for the market driver's report with a focus on American depositary receipts. And here's Dave Wilson. Thanks, charlie. Eighty yards are lower. Unlike US shares the S and P A DR index is down half a percent while the S and P five hundred little chase. Deutsche Bank is fallen two point seven percent in US trading to the lowest price since the German lenders ADR's were introduced in nineteen ninety nine police conducted a second day of raids in connection with suspected money laundering at the Bank. A person familiar with the matter said officers of its entire management board were searched the UK's Barclays has dropped three and a half percent. The Bank is like little fall out of the benchmark stocks fifty Europe index according to Landesbank Baden Baden Wuerttemberg funds attract the. We'll have to sell Barclays shares. If the company is removed Malaysia's Genting has gained five point nine percent. The casino owners third quarter results showed revenue rose six point seven percent beating analysts average estimate in the Bloomberg survey in accounting charge, a US investment led to a loss for the quarter and Taiwan's. Hi, max technologies is up one point two percent. The chipmaker said chairman being Sang-Woo plans to purchase as much as five million dollars of eighty yards with his own money will owns a twenty one percent stake in high max, Charlie. All right. We thank you very much. Dave Wilson tracking those American depositary receipts. Just getting the latest weekly recount numbers out of Baker Hughes closely followed by a lot of people in the oil industry. The US oil recount up by two this week to eight hundred eighty seven according to Baker Hughes. Recapping stocks mix little changed across the board here with the SNP up. Now by one point. I'm Charlie pelletan. That is a Bloomberg business flash. All right, Charlie. Thank you. Of course, we're covering everything happening at the g twenty summit in Argentina, including the upcoming talks between President Trump and Chinese president Xi Jinping. The two are supposed to have a dinner tomorrow night to try to make progress on settling the trade wars. President Trump telling reporters in Buenos Aires that he see some good signs ahead of the dinner about trying to de-escalate the trade war. He said we've already spoken, and we are working very hard towards getting a deal. For more on the story. I believe we're joined now by oh, not yet. All right what Bob moon? Let's let's also talk about some of the other things that are happening down in Buenos Aires, and the and one of one of the other headlines out of there is that as, you know, the president said he would not meet with Saudi Crown prince Mohammad bin Salman, formerly about the two did meet briefly at the leaders session. They exchanged pleasantries, and the president said later that quote, we had no discussion. And of course, the big issue. There is the killing of Saudi journalist Jamal Cokie. Here's an all Arabia reported that the meeting was friendly,.
What's going on with GE and Home Depot stocks?
"They decided to sell out four billion dollars worth of stock in Baker Hughes, a GE company the ideas is able to cut their stake to just above fifty percent from the current sixty two and a half percent. Baker Hughes is buying back. The half dollars worth of stock. And it's a ranging on GE's behalf to sell the rest. Oh, you mentioned GE's higher. Baker Hughes also up one point seven percent. You could argue that this arrangement that they've made with GE kind of removes an overhang might say for the company because let's face it. When g has the situation that it does they're looking to sell assets where they kiss CEO Larry cope was talking about just yesterday. He had to figure something was going to happen here. I don't know overhang also implies if you go out on that overhang. Don't take that last step. I'm looking at GE bonds right now, they're trading at around eighty two cents on the dollar. Yeah. Just goes to show you how much concern there is about. Jeez. Business and let's face it. It's all about what's happening with gas turbines power generation. Absolutely. I mean that that's been an issue demand's fallen off. They've had some mechanical issues with products that they've sold that they've got a, thanks. They're just basically a tough time here. All right. Let's take a look at another stock making a little bit of a move today. And this has to do with Brookefield Brookefield is buying the Johnson Controls unit for thirteen point two billion dollars. Not shabby the main Johnson Controls has been getting out of the auto parts business. They spun off the seat maker called adamant as part of this pullback and this deal with the private equity arm Brookfield asset management really complete their withdrawal from the business focusing on as the name suggests controls and we're talking about building controls typically. So that's the focus going forward. People liked the idea that it's going to be a more focused company mean clearly from the reaction to this deal with the stock up three point six percent. You know, you're talking about one of the biggest gains on the day, the S and P five hundred couple of stocks making a move lower Tyson Foods profit forecast. Disappoint some analysts. Also, taking a look at the PG and E that stock just can't get a break that has to do with the wildfires in California ongoing litigation.
GE falls below $10 for first time since 2009 after analysts say dividend cut may not be enough
"Its first earnings under its newest CEO. Let's get into this with Jim corridor equity analyst over at CF are a research on the phone in New York City. He cut his twelve month price target in two thousand eighteen EPS estimates on GE also carrying Ubale heart is our senior industrials analysts at Bloomberg intelligence. She's here in our Bloomberg interactive brokers studio, Karen I want to start with you. We mentioned this stock tumbling to a two thousand nine low below ten dollars. And that's where it sits right now. Ninety six we expected there to be a lot Latin this quarter a lot of bad junk, if you will is it worse than we expected. Walk walk us through it. I think people wanted more. There's a first of all the investigation. Now, people are like how big is that black? All the additional DOJ investigation, adding the goodwill charge that black hole is what scared people for awhile. And now, it just got bigger, and they also said that they have to help fund put more money into GE capital. The DOJ has been looking into that twenty two billion dollar charge that she took in connection with its power you. Yes. Okay. And so sorry, Jim. I it's you take a look at this worse than you expected. I mean what what was the big surprise here? Because we knew that there were some things that obviously got Larry Culpepper predecessor fired. So what really caught people off guard. I think it's the combination of the announcement of the DOJ investigation coupled with the cutting of the dividend by almost ninety five percents wiping out the dividend investors that were in the stock for the dividend. Even though it was reduced from earlier this year already. We're exiting at one cent per share at the same time that investors that were holding on with hopes for restructuring are disheartened by DOJ an SEC investigations. So are we missing something? It's an eighty six billion dollar market cap company. That's expected to have one hundred and twenty billion dollars in revenues. I mean, Karen, it's not like there is value in General Electric in. I think it's it's the unknowns that are scaring people if I look at the aerospace business is an unbelievable business, and it blew this things away in this quarter healthcare is good. I mean, standalone the company certainly got a lot of value in it. But it's just how big are the charges. How much will they pay? I have a thought on the goodwill right off. There's a lot of flexibility on when you have to recognize a goodwill charge. Caterpillar? Four years losing seventy five percent of their revenues in their mining business. And we kept saying are you going to write it down? What are you gonna write it down? There was a clause in their ten. K that says basically as long as you think there is value there over the long term, you don't necessarily have to write it down. I don't know what GE will decide, but we were badgering them to do it. And guess what they were right? The businesses rebounding. It's up twenty five percent from the bottom. And it's not back where it was. So there's that's what I learned. Oh, there's a lot more flexibility in this. So I wouldn't think they're going to necessarily. Have to take an a bigger hit. So Jim what do they need to do? Now. What do you need to hear from call to give you confidence that he's got this ship closer to to write than before? Number one. We need to have these restructurings and he's right down. Stop. We can't have a twenty two billion dollars here. Fifteen billion dollars charge in January and have it keep going on. And on we need to have stability. So that we can have some faith for the future member to Mr. call past set some targets, which they are setting. Are they need to hit them execute on these targets? So you can't really even figure out how to value a stock. Like, gee, you have some kind of firm financial data you could trust that when they tell you a credit revenue or earnings guidance. But there's a good chance they might hit. And they've missed target after target. If the target had endless restructuring, so they need to put a stop to that and start hitting at executing again. Well, okay. But do you expect that Jim to start next quarter? I'm just curious if they haven't given the new guy kind of time to get settled in a seat and really figure out where all the problems are buried so that it can come out and say, hey, folks, here's here here. It all is are we need to be patient and could be expect maybe another couple of quarters where things. We're going to be you know, we're gonna have some surprises coming out. So yeah, I would argue for patients, but if you look at GE investors, angry they didn't give John Flannery six months to to to restructuring program before they start in the door. So you know, it's gonna take awhile to take six months to a year before you can get a ship. The size of a turnaround, but investors are angry at impatient. And they're unlikely to give the company much time. They're worried about the financial side. And they didn't tell us away. They're going to generate real cash. You know, they said we're not doing Baker Hughes. The sale of Baker us shares earlier where we're not selling G casts were not, you know, they haven't given us a way we're not doing an equity offering then how you going to get out of this cash Meyer. So do you think I'll tell you? They change their mind on that. And what's the most likely scenario to raise that money? I think they do change their mind on on some of this. First of all Baker us announced today that they're halting their stock repurchase. Waiting to see what GE is gonna do. Gee, said they're not changing the. Timeframe. So there is some kind of conflict there Baker uses that basically saying, we'll take it. We'll take it. And yeah, we'll take it off the market in advance of the John July twenty nineteen lock-up period. Also GECAS they love that business. I'm not so sure they're ready to do something with that. But they're getting knocked on the door. You know, the doors get knocked down on that aircraft air aviation finance business. I don't think they're ready for that yet. But but hey, Jim just quickly got about thirty seconds. You kept your hold rating despite cutting the price target and the full year EPS estimate why just quickly. There's a lot of value. A lot of value at the company. They have great assets. They are leader in aviation transportation is doing great even though they're spinning it off healthcare is a leader in oil and gas showed stability this quarter. So there are some great assets at GE, and if they could just get they're restructuring halted get the company back on firm footing. There's going to be value there. But it's just a matter of when. It's tough to put a sell on of stock is down there. Thirty seven percent is industrial do want to rotate into the stock. You've seen. The soccer hour over time. And if they could just get some good news going. Rotate back into the sheriff down about ten percent today down forty three percent so far in two thousand eighteen Jim corridor equity analyst oversee far a research on the phone in New York. Karen, you will heart. Thank you senior industrials analyst at Bloomberg intelligence in our Bloomberg interactive brokers studio, you're listening to Bloomberg BusinessWeek, Carol Massar and Jason Kelly. This is a Bloomberg.
Markets close lower with DOW, NASDAQ and SMP all in retreat
"Right. We're looking at a down day. Few us equities here with the Dow the s&p NASDAQ all retreat and dropping three down one tenth of one percent. The Dow off session lows down thirty six now down also by one tenth of one percent. Nasdaq hanging in there just above eight thousand down thirteen now with drop their of about two tenths of one percents. Latest weekly rig count numbers from Baker Hughes shale explorers added rigs this week even as pipeline pinch has sent prices plummeting in America's busiest basin. Baker Hughes has working oil rigs rose seven this week to eight hundred and sixty
"baker hughes" Discussed on Bloomberg Radio New York
"Far this year according to the latest weekly. Numbers from Baker Hughes recapping equities lower lows of the session right. Now with the Dow industrials down twenty three dropped. Their of eight tenths of one percent The Dow Jones industrial average down two, hundred fifty one percent NASDAQ down fifty six dropped their of seven tenths. Of one percent I'm Charlie Pellett that's a Bloomberg business flash This, is. Bloomberg markets with Carol Massar and Jason Kelly on Bloomberg radio, in a very good morning good afternoon everybody Friday August. Ten twenty. Eighteen cow, master long way Jason Kelly Turkey you started your day big time with it on Bloomberg television and we're kind. Of just following it throughout the day my goodness I mean it really caught fire this. Morning from a headline perspective and we did spend an. Inordinate amount of time wanted and the biggest question. Carol is what seemed idiosyncratic now feels, like it can take them we're, going to get to a lot more about that it's certainly made its way throughout the, global markets Roskam talk about women on Wall Street making their way off the. Street a piece that, will really make you stop and think when it comes. To Amazon size and then we have SpaceX as a cleaver Tessa, and cooling down of workout you. Know about this I was, hoping you were going to break it up we're. Going to talk. To my favorite workout enthusiast To end up the show all, right let's get to go and everybody is Friday TGIF let's get to Charlie. Pellett with a check, on your markets and our BusinessWorld oh I'm sorry you're. Right we already did Charlie see is so frightening.
Bayer to phase out Essure birth control device in U.S.
"This is Ann Marie for totally New York. Economists are optimistic about growth in the second quarter. We're going to be looking really closely at the GDP report on Friday that's going to give us our first look at how the economy performed overall in the second quarter. GDP is one of several key reports out this week, Wall Street Journal reporter, Ben loop store f- joins us from Washington with a preview of the week ahead in just a moment. I, these news headlines. Oil industry executives are pointing to signs that international activity is picking up the chief executives of Schlumberger, and Baker Hughes, say, international customers are pursuing large projects and further exploration. Plus there are more equipment orders. Oil demand has been rising and is expected to hit one hundred million barrels a day soon, but concerns about global supply persist. Amid instability in Libya and Venezuela. Baier has announced it will stop selling its birth control implant ashore. Later this year, the company says the decision is due to declining sales, not safety and efficacy concerns about the permanent birth control device. Two years ago, the food and Drug administration required Bayer to add a warning to the device after studies linked it to pain and other health issues. America's factory towns were once predominantly democratic, but now the majority are controlled by Republicans Wall Street Journal, senior editor, Bob Davis says that's because manufacturing wants an industry of big cities like Pittsburgh and Cleveland has now shifted out of them. Manufacturing moved all over the country to eggs urban areas, twenty thirty miles outside of big cities. Next to highways. Those areas tended to be Republican and that sense. That's how the Republican party inherited and became the party of manufacturing. Davis says in nineteen Ninety-two fifteen of the twenty. Most manufacturing intensive congressional districts were controlled by Democrats. Now, all twenty of those districts are under Republican control. The Trump administration's efforts to roll back. The Affordable Care Act are creating divided healthcare landscape with some states fighting against the efforts and other supporting them. Some conservative leaning states are moving to impose work requirements on Medicaid. While those led by Democrats are working to preserve parts of the ACA like penalizing those who don't buy health insurance. The Trump administration has failed to repeal the.
"baker hughes" Discussed on Bloomberg Radio New York
"Yen down to new, strength one eleven seventy eight it's still has not found a bid David Wilson with a solid you're. Going, to begin with Microsoft that seems to be is this because Steve Ballmer. Talk to David Rubenstein probably more like what Sachin Adele Did after. He came in and succeeded bomber. Among, other things steering the company into cloud computing and that's been a real growth area you know they raised their forecasts or that particular part of the business. I also they're fiscal fourth quarter. Earnings and revenue beat analysts average estimates in. A Bloomberg survey, and Microsoft shares are. Up three percents in early trading Honeywell, international higher. By two and a half percent industrial company increased. Its earnings forecast for the year after. Second quarter. Profit and revenue surpassed projections General Electric hasn't been quite as, fortunate so far even though they beat, profit and. Sales estimates, for the second straight quarter the stocks down. About a, half a percent so the, the struggles at GE continue and Baker Hughes GE company may. Be part of that. The shares are down two and a. Half percent the oilfield services. Companies earnings last quarter miss Dan. Lewis lowest estimate you've, got Express Scripts down one and a half percent the drug benefit manager was cut To neutral equivalent by a Robert W. Baird which cited what they call a heavy political attack on the, industry certainly Express Scripts being caught in the crossfire some companies higher after earnings. The robotic surgery system maker intuitive surgical of three and a half percent, the apparel maker via falso up, three and. A half percent the tool and home appliance maker Stanley black and decker up three percent and. We're seeing more of a mixed picture today from. Banks yesterday there were some real weak, spots, Bank of, New York. Mellon was one of those you see with State Street. Today it's one of their Rick Down five and a half. Percent, second quarter revenue Cal has also State Street agreed to buy the investment software maker Charles river. Systems to our two point six billion dollars in cash let. Me just run down the banks, real, fast regions, financial lower by one percent. Other hand credit card company..
Boston, Farnborough Airshow and Ge Aviation discussed on WBZ Morning News
"The big suppliers boeing airbus is the aviation unit of boston's general electric and today at the farnborough airshow the head of ge aviation says all the changes going on in the company in recent months is not having a negative effect on his division in fact he says the decision by ged spinoff it's healthcare unit and divest its stake in oil giant baker hughes will benefit ge aviation by removing constraints on on its operations sp futures up one point business reports at eight and thirty eight past the hour i'm andrew o'day bloomberg business on wbz newsradio ten thirty and you can listen to wbz newsradio ten thirty anytime anywhere to get the latest on international and domestic news by downloading the iheart radio app wbz news.
"baker hughes" Discussed on Quest Means Business
"Gas company baker hughes that it only recently com yesterday it said goodbye to its distributed power business which generates power in remote areas it was politics coal business for the other parts of it sold off its century old male to some months ago no longer when it's big engines be delivering goods across the united station has yet to find a light bulb units which of course was originally solitude by thomas edison invented the lightbulb a now it's on its way out already of nbc universal the network and it's a plans business remember g was in the fridge as in the service wing every home in america and much of cheek e capital as all but what's left of me it will cause some and you've asian power and renewable energy next jet engines power turbines when you energy but is that valid full g tacit aston is head count a small crunchy become too small when it's left just this i think that is the new strategy richard they had to swing because they've got so much they've tripled in the last four or five years it was up to seventy seven billion this these latest spin us that is twenty five by twenty twenty the crazy that's what i need to do and i think the next shoe to drop could be not story dividend cut it lost the second time since the great depression the took his they knew they would take you don't so so what's the strategy floored when wrongs thing you they had thought that how do they expect to service it admits those downturns oil industry and some the other iras didn't perform as well i think history has shown that was a strategy they grew too quickly and in too many different disparate areas that those guys jeez upside fomc jeffrey immelt who was why one of the most successful in his time ran this hundred twenty five year old industrial company a start up one hundred dollars worth of deals heels i started to divest if you by the end of his tenure but but it was just too much too soon and the industry the business couldn't sustain it and yet the idea of selling off the healthcare told is the future of america was invented by g it's cole is that a side of the desperation of times that they would sell off i think it is mentioned this is one of the best performing units the business last year was sixteen percent a revenue that was seen by many to be part of that strategy going forward that along aviation power and on renewables was seen as crucial think this this took many people by surprise today but but this sign of how brutal the situation is the con ceo flooding preview preview sea tac on jack welch before well flannery take any blame so it's between welsh who built i mean we can't notice the house bill ta since between welsh in the play it will be viewed who will history be least kind about it's possible i think that it would be jack lost because i think more of the bigger acquisitions that happened under him into every head start executive producer just a second said well said in by debate it's debate them definitely took four days before nine eleven he had a lot of difficult decisions to make and he did end up getting rid of nbc universal and the client's business various other things but history will be the judge keep an eye on the chink in the future pace about half retained its license to operate promise the number of changes now london under the puck by the time the called the magistrates court which was the appeal gold from the original vision maids decision you pretty much guests that's the way it was gonna go sighs of relief from without a doubt but richard quest means business all about the winners and the power players and there are two big winners here number one dara hosts were shot he the new ceo his strategy is working his worth every single penny and the london mayor told us as much so on this program he said there's a whole new style of leadership a whole new way of communicating the other big winner here is the london mayor saudi con now we're not a british politics i was i'm not going to get into it but he's the mayor of one the biggest most important cities in the.
General Electric, President and Harley Davidson discussed on WBBM Morning News
"Metro areas up two tenths of a percent street was looking for double data gain of about four tenths we'll have the consumer confidence reading for the month of june coming up in about a half hour from now general electric says it'll spin off at you congo based healthcare unit and die i best baker hughes stake as well ktar is prepping a vending machine operators selecta for a one billion dollar initial public offering and president trump now says harley davidson is using trade tensions as an excuse to move lanar corporation beat on its profit on strong housing demand the stock is up ahead of the open today and over the ridesharing company says it learned its london licensed fate with judge a judge's ruling a little bit later today and warren buffett taps lee enterprises to manage its many berkshire newspapers microsoft and immobile i n m o b i are collaborating to offer marketing capabilities today and orlando has ended its facial recognition program with.
"baker hughes" Discussed on KCBS All News
"And wheeled strategy that's that's our version of megan gold speak kcbs kids who live in san francisco's tenderloin were treated to some fun kcbs is margie schaefer reports from the salvation army's kroc center ceo and co founder of london lee leeann butler owens was a flight attendant on nine eleven and when she landed she reevaluated her life she wrote a children's book but kids couldn't afford it so i started giving it away and i thought if we want children to read if we want children to advance what we need to do is to make a farm and that's exactly what she did with this literacy fair done for several years at shriners hospital now to mark the tenth anniversary of the salvation army's kroc center the kids are picking up their hats they're assuming they wanna be and then we are treating them as red carpet we're letting them know if you want to advance if you want to be somebody you have to do it through reading and education the fair featured an spca puppy dog tails story corner where kids read books to therapy dogs dogs code knows is better than any alarm clock butler owens bought the books and the golden state warriors matched her she's looking for more sponsors to expand the program in san francisco margie schaefer kcbs this is a bloomberg market minute the wall street journal is reporting that general electric plans to spin off its healthcare business and divest its stake in oilfield services provider baker hughes the move comes as ceo john flannery focuses the.
Rights group hits Amazon, Foxconn over China labor conditions
"Ai using the website read it and feted captions from the page watch people die and then asked it to describe random ink blots one of those ink blots which most of the time the a i described as a group of birds sitting on a tree branch said it now saw as a man getting electrocuted i'm john stolnis spain's maritime service rescue rescue service that he says it has saved three hundred thirty four migrants on nine boots trying to cross the mediterranean sea to reach europe the boats left from northern african countries throughout the day yesterday and this morning i'm christopher cruise and i'm susanna palmer from bloomberg world headquarters as we've been reporting president donald trump is not on board with the communique released from the g seven summit meeting in quebec this weekend late yesterday afternoon canadian prime minister justin trudeau formally announced that all seven leaders had agreed to the final communique and then took questions about his interactions with trump all of his answers trapped to back with what he said in the past but they set trump off so from aboard air force one on his way to singapore trump instructed his aides to pull out of the communique putting the blame on what he called trudeau's very dishonest and week approach a watchdog group the china labor watch is calling on amazon dot com to improve conditions for factory workers in china who make echo speakers and kindle ereaders the group released a report following a nine month investigation of working conditions at a factory in the city of hanyang owned by han hi precision industry the company known as foxconn which manufactures products for amazon it paints a picture of low pay and intense working conditions oil drillers added more rigs in the us last week the story from bloomberg's charlie pellett drillers were undaunted by pipeline bottlenecks that are hindering efforts to ship crude from the nation's busiest field according to the weekly numbers out of baker hughes american working oil rigs rose by one this.
"baker hughes" Discussed on Bloomberg Radio New York
"Again you can understand still down seventy percent this year the power division that's the problem they got right now is the power division they're going to sell off the transportation division that'll be done in june they've got the lighting division that's supposed to be sold by the end of the year you got the power division they've got some problems revenue was down a already laid off what twelve thousand people from the power division but the aircraft engine business that's doing pretty good and the healthcare business also doing pretty good and they put the one and a half billion dollar charge behind them for business they don't even own anymore that's the mortgage business and then ultimately have to figure out what to do with oil field the bakery baker baker hughes h e company you gotta love that i actually i'm really glad that you went there because oil very much in the news opec had their meeting in riyadh and the result somewhat surprising show that definitely saudi arabia and its cohorts want to continue to cut oil production despite the fact that they've materially depleted their excess supplies showing that they really want oil prices up to eighty dollars a barrel or at least higher than where they are right now distinct called saudi aramco right and they go public and in order to make all those numbers work they need a pretty decent star of the oil price but what really is interesting is president trump tweeting about this sort of raises the issue all the more so is that higher prices at the gas pump in the us materially eat into the purchasing power of lower income americans without wage increases which we really aren't seeing in a material way so this can potentially crimp the economy now well that's one of the concerns that's out there no question it's funny you bring all this up today though when i look at the price of oil is down energy stocks are the worst performers of the sp five hundred along the eleven main industry groups sell at least for the moment the concerns kind of eased average price of gasoline gallon gasoline according to the aaa is two dollars and seventy five cents that's up a little bit more than two cents a gallon just in the.
"baker hughes" Discussed on KBNP AM 1410
"Still down seventeen percent this year the power division that's the problem they got right now is the power division they're going to sell off the transportation division battle be done in june they've got the lighting division that's supposed to be sold by the end of the year you got the power division they've got some problems revenue was down a already laid off what twelve thousand people from the power division but the aircraft engine business that's doing you know pretty good and the healthcare business also doing pretty good and they put the one and a half billion dollar charge behind them for business they don't even own anymore that's the mortgage business ultimately have to figure out what to do with oil field the baker baker hughes h e company you gotta love that i actually really glad that you went there because oil very much in the news pack had their meeting in riyadh and the the result somewhat surprising show that definitely saudi arabia and its cohorts want to continue to oil production despite the fact that they've materially depleted their excess supplies showing that they really want oil prices up to eighty dollars a barrel or at least higher than where they are right now stink called saudi aramco right and they go public and in order to make all those numbers work they need a pretty decent stop us the oil price but what really is interesting is president trump tweeting about this sort of raises the issue all the more so is that higher prices at the gas pump in a us materially eat into the purchasing power of lower income americans without wage increases which we really aren't seeing immaterial way so this could potentially cramped the economy now well that's one of the concerns that's out there no question it's funny you bring all this up today though when i look at sea the price of oil is down energy stocks are the worst performers asap five hundred along the eleven main industry groups so at least for the moment the.
RWE transforms German energy industry in asset swap with E.ON, Innogy
"Daylight saving time you're an hour behind this morning the s t has been part of american life for a hundred years now first made federal law in nineteen 18 i'm christopher cruise and i'm susanna palmer from bloomberg world headquarters china's trade ministers jong shan warned that a trade war with the us would bring disaster to the global economy but he said his nation won't start one and that talks with the trump administration continue at a press conference today in beijing jong said there is no winner in a trade war senator elizabeth warren of massachusetts says a bill giving banks relief from rules impose after the two thousand eight financial crisis could be a forerunner to another round of taxpayer funded bailouts in a transcript of an interview were and gave to nbc's meet the press she says i don't think of bill like that is good for anybody in america the bill is the largest congressional overhaul of the doddfrank act there's an acquisition in germany that supporting renewable energy german energy company jahn agreed to acquire renewable energy company in od from its german rival rwe the deal continues the transformation of competitors rwe and e on that was started by german chancellor angela merkel shift toward an economy powered by renewable energy instead of nuclear and fossil fuels us oil explores have curtailed activity for the first time since january the story on that from bloomberg's charlie pellett escalating output from shale fields stunted a recovery in crude prices according to baker hughes explores idled full working oilrigs this week bringing the total to seven hundred ninety six the benchmark for us crew has followed about nine percent since touching a threeyear high in late january ballooning of american oil production cast doubt on the opecled effort to shrink a global glut charlie pellett bloomberg radio.
"baker hughes" Discussed on Newsradio 700 WLW
"Ship hey hon do me a favor and hold the ladder for me i have a better idea let's just call somebody to clean the gutters to scoop out a few leaves come on i'll be down in a heartbeat front using a ladder might seem easy misusing one is even easier for tips on ladder safety visit orthoinfo dot org a public service message from the american academy of orthopedic surgeons who want to keep your bones safe strong and well connected gallons all right baker hughes drama musical honour samphran guard for the galaxy as one bad lil rel enjoyed it millis one of the vega where in two thousand sixteen three people out now there can be coming back up in two thousand seventeen meanwhile let me go right back to the phone and chips calling up let me get chip on there now that's not our tator chip his a driver tip jet pay doing tonight what role well just kind of coming back memphis tennessee in the rain you were talking about on high seventy slow that he can't city go on westbound yeah uh so i have been on the cp radio for many years probably uh thirty five plus years okay and there's something i noticed on there for quite some time i don't know what to do about it so some of these guys that are driving they may have noticed the same problem you get you know you know somebody on there and they think th the bible is the word of god and they think that they're going to use this cb as a soap.
"baker hughes" Discussed on Bloomberg Radio New York
"To have to they're going to shop the bit a baker hughes they can just start selling down now they have a restriction but that can be dealt with they have to go to a baker use conflict committee which is part of the board and and and you know asked to get out early 'cause they they're not legal they get the deal is they can't sell down till july 2019 um you know so that that step one but that's a fair amount of value that they could get out of that so that would be one fast move they could do without having to you know they have to get permission of course but they don't have to look for the markets having the value so that's baker hughes what about the also tom acquisition could the ordering a right that off do you think that's the latest that people are speculating on a i don't know that they're going to take a big right off empower yet now you know in in the fourth quarter you have to take a look at all your assets that's why that issue is coming up for discussion it's possible i think that they will hold onto that at its current value at this point to have a sense of what the timeframe is the cheese following with the asset sales well i don't know that they have any specifically under way so i but i know that with the liquidity concerns at it's going to be soon armed sooner than later they haven't i mean that the that's the first time he really talked about it i think he seeing the seriousness of we've got to do something bigger so i think you're going to your definitely going to see something you know sometime this year in my opinion i you know i wouldn't be surprised if they announce something i'm baker use in the short term actually carrying you will heart thank you so much for joining us karen you will heart is industrials analyzed for bloomberg intelligence joining us here in our eleven three oh studios g e shares have just absolutely plummeted over.
"baker hughes" Discussed on Bloomberg Radio New York
"Price down which would be very unusual for an uh well certainly there is an incentive to talk to price down and that that the price down biggest are fearful of not only the shell response but also the response and i don't know why they keep ignoring at a deep water and oil sands in canada after all these three unconventional resources that have seen their cost structure absolutely plummet and we've got these longerterm projects along with shale which has a short kind of cycle ahead of it up and down as a response for prices via risk from puts up a detroit oakland could pulled up three times space three four six four wti versus you recalling because he recount just edged up just eversoslightly and that baker hughes data late friday at what point does it become critical what price point does opec need to react seventy dollars is make a lot of people uncomfortable i mean when when do you expect to see even more action well the i don't know what actions can happen from from opec but certainly we've heard from the the russian oil minister chris before the weekend and he reiterated the point that was made that the last opec meeting namely that we have applies to extend this agreement to look when the countries meet again in june to see whether it's time to start a process of rationing that production and the russians of all these countries most acutely aware of prices and prices are simply too high peace with a high price to get a an appreciation the ruble central bank is already active planning five billion dollars or more of intervention in the market buying dollars.
"baker hughes" Discussed on WTMA
"We're here uh michael zambian forbes magazine sports money on the s network jim yuri out t j m institutional services on the floor of the cme and it's the embassy contributor i'm apropos of 2017 the best performing dow's stocks boeing cat apple walmart visa again and then there's a broader one here if i get this right for the s and p nrg energy these are the winners big aligned technology vertex pharma wynn resorts and blowing off a good year for boeing and the worst the s p 500's baker hughes is owned by g range resources both down two percent under armor gone fifty percent uh utility companies scanner down almost 50 percent and envision healthcare down forty five percent i don't know what you learn from any of that um majko's etienne what do you like in 2018 either groups are stocks i as group larry i like to main group i love energy i think he regulation and and what's going on uh with the trump administration's gonna be fantastic for energy stocks uh so i love energy and i love capital goods makers and i also think capital goods is a way to also play technology because so much pack is being used in the manufacture of industrial equipment these days it and it goes you know when people think tact they often think of facebook and google and of course rightly so oh i get that but tack in terms of automation is tremendous so i i i say energy and capital goods and capital goods you also get exposure the tax price.
"baker hughes" Discussed on Bloomberg Radio New York
"That lay keno they're talking about getting rid of the industrial solutions business which is great because they've already sold that so then you know i it's not new and they're talking about lighting and transportation these are all sorts of ancillary businesses that people were already expecting them to divest its there's no real news surprising unit grab your attention strategy here and i think you know what that means is that we're just absolutely looking at a few years of a really tough slog either committed saying in march like our and power is not going to get better for at least a few years even by jeez own admission and analysts worry it might not ever get better my just sort of trend down of the new normal of lower profitability and i think you know if he were looking for radical change this this is not it what about the selloff of the majority stake in baker hughes that's new h but jeez prior management had communicated that a spinoff of that or some sort of divestiture was possible when they announced this deal and that's something that investors have been speculating about uh basically ever since they decided that they were going to buy the baker hughes business in and merge it in this combined entity so this is the first time g e has denied glee said yes were looking at that but they've sort of indicated it's possible and and people have been expecting that to come so you know i i think that is a good step but that's all she not the kind of thing that they're going to be able to undo borrowed lc3ii this doesn't its new sold that all right now you're not going to get a great price for it they're going to have to do it in stages they probably.
"baker hughes" Discussed on Bloomberg Radio New York
"The news special report north korea ever us military option defense secretary james mattis has threatened a massive military response to any attack on the united states or its allies this after north korea set off fits most powerful nuclear bomb test to date we have many military options and president wanted to be briefed on each one of them general mattis speaking after a special meeting of the president's national security team at the white house this afternoon more now from correspondent barbara star over at the pentagon one of the key things that the secretary said not looking for the annihilation of nor south korea but he keeps coming back to the point that if north korea attacks or threatens a us sorts how i said they will be met by military force this morning president trump was asked if he had any plans to retract north korea his response we'll see north korea's underground tests was for what it calls a hydrogen bomb potentially much more destructive van and atomic bomb i'm michael toscano and i'm susanna palmer from bloomberg world headquarters treasury secretary steven mnuchin said congress should combine an initial package of relief for victims of hurricane harvey with a boost in the nation's debt limit saying lawmakers need to put politics aside to ensure that there is trying to recover from the storm get the help they need mission was speaking on fox news sunday hurricane harvey is complicating the weekly us rig count numbers the story from bloomberg's charlie pellett washedout roads a drilling sites across texas's eagle ford shale play prevented baker hughes from pinning down specific data in the stormravaged region nationwide the number of rigs targeting oil remained unchanged from last week at seven hundred fifty nine drillers in the permian base move west texas and new mexico added three rigs to the fleet bringing the total for that region to three hundred eighty working rigs targeting crude in the.
"baker hughes" Discussed on Bloomberg Radio New York
"Is a bloomberg business flash from bloomberg world headquarters in your your conduct christner seventeen past the hour let's get you caught up on market action a kind of a mixed picture for stocks today on the final day of the second porter trading very light as you would expect ahead of the fourth holiday weekend a consumer stocks got a boost from nike though shares were up nearly ill 11 percent after nike reported earnings above forecast company also announced a deal with amazoncom to sell nike sneakers on amazon's website microsoft is said to be planning a global sales reorganisation we are told the company wants to better focus on selling cloud software wanted big winners in the broader market energy stocks they follow the price of crude higher crude of new york go up more than two and a half percent we settled at forty six owes six for the week wti picked up seven percent data from baker hughes showing that us oil rig counts declined in the last period for the first time since january look at the bond market we roy rosen yield across the curve a 10year treasury last quoted in new york at around two point three zero so the gain in yield is about to three basis points we had a very hawkish tone in rhetoric from many of the world central bankers in the past week spot goldwashed quoted in new york 12 41 sixty six the ons giving back about three tenths of one percent dow heads pretense smp 500 up nearly two tenths of one percent but the nasdaq composite was down today by one tenth of one percent you're caught up on markets back to bloomberg markets now more caroline cory thank you very much markets.