Today’s news: Baker Hughes changes their corporate name and stock symbol. Synchrony Financial (SYF) and Schlumberger (SLB) report third-quarter earnings beats.
Baker Hughes, a GE Company (BHGE) has changed their name to Baker Hughes Company (BKR). The name change is attributed to the fact that General Electric (GE) no longer owns 50% of the company. General Electric has been selling assets for the purpose of resolving financial problems that include poor cash flow, debt, non-performing assets and unfunded pension obligations.
Synchrony Financial (SYF) reported third-quarter diluted EPS of $1.60. After removing a one-time tax benefit of $0.38, the adjusted number is $1.22, which is above the consensus estimate of $1.12 and all other estimates. The report looks bullish. Additional information will be available on the conference call. Investors may review the press release here. I still intend to Retire SYF from the Buy Low Opportunities Portfolio when it rises to its 2018 high of 38. Buy.
Schlumberger NV (SLB – yield 6.3%) reported third-quarter non-GAAP EPS of $0.43, which is above the consensus estimate of $0.41 and all other estimates. I’ll have more details in the coming hours. There’s short-term price resistance at 39-41, giving new investors an opportunity to lock in a 6% dividend yield and a 20% capital gain within the trading range. Buy SLB now. Buy.