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Actionable news in COG: CABOT OIL & GAS Corp,

Baker Hughes loss widens amid oil downturn

Baker Hughes Inc. said its loss widened in the latest quarter as revenue slumped amid a downturn the oil-field services company's chief executive said is exceeding "even the most pessimistic predictions."

Shares fell 3.7% to $44.10 in recent premarket trading as the adjusted per-share loss was far wider than analysts had predicted and revenue missed expectations.

The latest results come ahead of Saturday's deadline for Halliburton Co. to complete its pending $35 billion deal to acquire Baker Hughes. The pending deal has faced opposition from competition authorities world-wide. Earlier this month, the U.S. Justice Department filed an antitrust suit challenging the deal, which would combine the world's second- and third-largest oil-field services firms, behind only Schlumberger Ltd.

Baker Hughes didn't comment on the pending deal in its news release Wednesday except to say it can't predict when, or if, the pending merger will be completed.

Low commodities prices have resulted in oil company customers...


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