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Halliburton (HAL) Stock Up, U.S. May Block Baker Hughes Deal

NEW YORK (TheStreet) -- Halliburton Co. (HAL - Get Report) stock is increasing 0.76% to $34.26 in afternoon trading on Tuesday after reports suggested the oilfield service provider's proposed $34.6 billion acquisition of Baker Hughes (BHI) will be blocked by U.S. regulators.

Shares of Baker Hughes, another oilfield service company, are retreating 5.52% to $39.18 this afternoon.

The Justice Department could sue the companies to block the deal as early as this week, sources told Bloomberg. Regulators claim the deal would reduce competition in...