Horrible performance in Q1 that is also expected to get even worse in Q2.
Traders speculate the WH might come up with some sort of policy to give a face lift to some E&P operators and raise oil prices (Bloomberg/CNBC).
WTI May futures trades below 0 and JUNE futures below $20 but still HAL went up ????
Whatever the WH does and whatever the Fed does like buying junk bonds ETFs, service companies like SLB & HAL have WAY less JOBS to perform during this pandemic and demand shock. This is probably going to send the stock to $5 soon whenever the speculation about WH action fades away.
Major operators with good balance sheets might survive but service companies won't be able to generate CASH FLOW without ACTUAL jobs.
Good luck!
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Fed manipulation in the markets are unbelievable, be cautious with every trading decision. April 28, WTI is down by more than 15% yet the markets are up by 2%. real consumption is reflected in oil prices but the stocks markets are bring manipulated to please someone just because money printing has no consequences for now!
@mtraderz, I agree with you regarding FED. Real consumption is down, economies of world countries are down (GDP also), but stocks are UP every day! It looks like a bubble. Meanwhile HAL is 10,5$ already.