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Baker Hughes (BHI) Stock Spikes on Smaller Q3 Loss

NEW YORK (TheStreet) -- Shares of Baker Hughes (BHI) were jumping 6.37% to $55.47 in mid-morning trading on Tuesday after the company reported a narrower-than-anticipated loss for the 2016 third quarter.

Before the market open, the Houston-based oilfield services provider posted an adjusted net loss of 15 cents per share, while analysts were expecting a loss of 44 cents per share. Revenue for the period was $2.35 billion, below analysts' estimates of $2.41 billion.

"Revenue for the third quarter declined 2% sequentially, primarily as a...