Thread regarding Baker Hughes layoffs

This was published 9 hours ago and casts a dim light for any short term recovery

That's because General Electric (NYSE: GE) is working through a difficult turnaround effort that hasn't been going particularly well. After the merger of GE's oil and gas business with Baker Hughes, the industrial giant ended up with a 62.5% stake in the combined entity. That's why GE is stuck on the end of Baker Hughes' name. GE has since reduced that stake to a little over 50%, which means it still has a controlling position in Baker Hughes. That stock sale, however, was made at what some believe to be a fire sale price, suggesting that GE was selling out of desperation. With Baker Hughes' shares down roughly 66% since a peak in late 2017, that analysis sounds pretty spot on.
The thing is, GE remains highly leveraged and appears to have a lot of work ahead before its turnaround starts producing material results. Which means that it could decide to sell more Baker Hughes shares to raise cash, if it needs it. Fear of such sales taking place will likely put a damper on Baker Hughes' stock until either there's more clarity at GE (like notably improving earnings) or the company actually sells the shares, which it has promised to do.

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Post ID: @10R0sTQ2

4 replies (most recent on top)

$45 a share...wow I needed that laugh badly....the prospect of that is about the same as finding the pot of gold at the end of the rainbow.

Do you or have you ever worked for Baker? I did for a long time, the abrupt planning changes, misinformation and just down right stupidity is mind boggling. From pressure vessels that are honed to large to meet spec's to deviation waivers allowing equipment that doesn't meet spec's to A.M.O mandates that were not inline with business needs....it's just a huge mess with people that do not belong in decision making roles. Its a shame really as many great folks have lost their careers for the ignorance of the small group at the middle / top area.

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Post ID: @10R0sTQ2-1rie

Rubbish. Stock will be $45+ very soon
It’s called the big BHGE divorce

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Post ID: @10R0sTQ2-1xok

https://www.fool.com/investing/2019/09/03/better-buy-baker-hughes-vs-helmerich-payne.aspx

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Post ID: @10R0sTQ2-1gve

SO IN A NUT SHELL...ANYONE WANTING TO SELL BHGE STOCK IS GOING TO BE STUCK AT LOW TWENTIES OR WORSE. HELL I REMEMBER WHEN I THOUGHT 34.00 SHARE WAS Sh–.

FIRE SOME MORE FAT AT THE TOP SO I CAN GET MY MONEY BACK.

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Post ID: @10R0sTQ2-1noi

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