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Baker Hughes Company. Baker Hughes Company is an American energy company based in Houston, Texas. As one of the world's largest oil field services companies, it provides products and services for oil well drilling, formation evaluation, completion, production, and reservoir consulting.
General Electric's (GE) offering of Baker Hughes' shares to the public and Baker Hughes' decision to buy back own shares will likely raise roughly $3 billion. Funds will help in reducing debts.
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Today we'll take a closer look at Baker Hughes, a GE company (NYSE:BHGE) from a dividend investor's perspective...
GE is planning to divest its remaining interest and has warned that the divestment will result in an additional loss of $8.4 billion (assuming a BHGE share price of $23.57 per share). In response to the fraud allegations, GE noted the amount of the loss would be $7.4 billion if the divestment occurred on July 26, 2019. [133]
In May 2017, GE Oil & Gas was combined with Baker Hughes Incorporated to create Baker Hughes, a GE company (BHGE), a new tier-1 business inside the parent group. In June 2017, GE Energy Connections merged again with GE Power & Water, to become the present GE Power. The new combined business unit is led by Scott Strazik.
Baker Hughes (BHGE) delivered earnings and revenue surprises of -3.70% and 3.69%, respectively, for the quarter ended December 2018. Do the numbers hold clues to what lies ahead for the stock?
File:Baker Hughes Corporate Headquarters - A GE Company (BHGE), Houston, Texas (40549644883).jpg