Shares of Baker Hughes (BHI) had dropped 6.6% during the first three days of the week after the announcement that it would join forces with General Electric‘s (GE) oil & gas business. Today, however, they’ve rebounded, perhaps suggesting that investors are coming around to the long-term prospects of the deal. In a note released yesterday, FBR’s Thomas Curran and Mark Kelley explain what those are:
Bloomberg News
Since October 28, 2016, as a correction in oil has stoked the latest retreat in OFS stocks,Baker Hughes has underperformed. Given that both sides....More>>>