See the link for the Entire Story: http://m.seekingalpha.com/article/3236646-is-baker-hughes-broken
Summary
Baker Hughes experienced Q1 sequential declines in revenue and EBITDA of 31% and 83%, respectively.
It only cut operating expenses by 16%.
Due to its reliance on premium services from North American land drillers, I expect it to under-perform peers for several more quarters.
Baker Hughes may not be broken, but its over-reliance on shale upstarts could be its undoing.
Ignore the "happy talk" over the Halliburton merger and avoid the stock.
Quote: " There is also large walk away fee. BHI is broken so that (Halliburton walking away from the merger) is a possibility."