Why Baker Hughes, a GE Company, Dropped 5% in August
Shares of oil-services company Baker Hughes, a GE Company (NYSE: BHGE) fell 5% in August, the first full month since the company's official takeover by General Electric (NYSE: GE). While that sounds disappointing, it was a better performance than its peers put in: Schlumberger (NYSE: SLB) was down 8%, and Halliburton (NYSE: HAL) fell 8.2%.
All three companies fared better than the oil-field services industry at large, which -- as measured by the SPDR S&P Oil & Gas Equipment & Services ETF -- was down 10.5% for the month.
Baker Hughes has combined its operations with GE oil and gas and will now manufacture equipment and provide services to the oil and gas industry. Image source: Getty Images.
Source: Fool.com
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