Baker Hughes CEO: Focus on future oil demand-supply dynamics, not short term volatility
Lorenzo Simonelli, CEO of Baker Hughes discusses the recent Israel-Iran and its' impact on volatility in oil prices and stresses not to focus on short-term volatility in oil prices. He also touches on the firm's business strategy and sustainability efforts.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
an hour ago
- Yahoo
Why Digital Turbine Stock Plummeted Today
Digital Turbine stock saw a massive post-earnings rally on Tuesday, but its share price slipped as the week progressed. Investors took profits on the stock today, and geopolitical risk factors also worked to push its share price lower. Digital Turbine is guiding for strong adjusted EBITDA growth this year, but geopolitical dynamics could create valuation volatility. 10 stocks we like better than Digital Turbine › Digital Turbine (NASDAQ: APPS) stock saw a round of substantial sell-offs Friday. The adtech specialist's share price closed out the daily session down 14.6% amid a 0.3% decline for the S&P 500 index and a 0.6% decline for the Nasdaq Composite index. Following an explosive post-earnings rally for the stock earlier this week, investors sold shares and moved to take profits. In addition to profit-taking action, Digital Turbine stock moved lower due to new restrictions on technology exports and fears that the conflict between Israel and Iran could continue to escalate. Digital Turbine stock had actually been up as much as 1.8% in today's trading, but action on the stock turned bearish as investors reacted to risk factors and took profits on gains posted earlier in the week. The company's share price skyrocketed in Tuesday's trading after it posted better-than-expected quarterly results and forward guidance, but its share price has moved lower in subsequent trading. In addition to profit-taking activities, Digital Turbine stock was pressured by geopolitical dynamics today. The Wall Street Journal published a report today stating that the Trump administration wants to further strengthen export restrictions and prevent companies including Samsung, Taiwan Semiconductor Manufacturing, and SK Hynix from shipping chipmaking technologies to their factories in China. Adding another bearish catalyst, investors moved out of stocks due to the possibility that military strikes between Israel and Iran will intensify and that the U.S. could enter the conflict on behalf of Israel. For the current fiscal year, Digital Turbine is guiding for revenue between $515 million and $525 million -- good for annual growth of roughly 6% at the midpoint of the target range. Meanwhile, non-GAAP (adjusted) earnings before interest, taxes, depreciation, and amortization (EBITDA) are projected to be between $85 million and $90 million -- representing growth of 21% at the midpoint of the guidance range. Digital Turbine's performance outlook became significantly stronger following its quarterly release earlier this week, but there are factors that could cause continued volatility for the stock. The company does most of its business in China, and rising geopolitical tensions present substantial risk factors even though it's not a hardware company. Before you buy stock in Digital Turbine, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the for investors to buy now… and Digital Turbine wasn't one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you'd have $659,171!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $891,722!* Now, it's worth noting Stock Advisor's total average return is 995% — a market-crushing outperformance compared to 172% for the S&P 500. Don't miss out on the latest top 10 list, available when you join . See the 10 stocks » *Stock Advisor returns as of June 9, 2025 Keith Noonan has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Taiwan Semiconductor Manufacturing. The Motley Fool has a disclosure policy. Why Digital Turbine Stock Plummeted Today was originally published by The Motley Fool Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Bloomberg
2 hours ago
- Bloomberg
Pres. Trump Sends Mixed Iran Signals With Ceasefire Hint
"Balance of Power: Late Edition" focuses on the intersection of politics and global business. On today's show, Kenneth Pollack, Vice President for Policy at the Middle East Institute, discusses President Trump's two week delay on deciding whether or not the US will strike Iran. PWC National Tax Office Co-Leader Rohit Kumar shares his thoughts on the latest with the Tax Bill & the US Senate. Rebecca Shi, American Business Immigration Coalition Executive Director, discusses the impact ICE raids are having on the US labor force. (Source: Bloomberg)
Yahoo
2 hours ago
- Yahoo
Markets flatline amid Trump's delay on Iran and potential Fed cuts in July
The S&P 500 dipped 0.2% on Friday as investors waited on President Donald Trump's next move on Iran and a possible rate cut from the Federal Reserve in July. Markets closed off a lackluster week as the major stock indices either slightly dipped or remained flat on Friday. The S&P 500 posted a daily drop of 0.2% and a weekly decline of 1.3%. The Nasdaq dropped 0.5%, and the Dow Jones was essentially flat with a daily gain of 0.1%. The end of the short trading week—U.S. markets were closed on Thursday in observance of Juneteenth—came as the White House said Thursday evening that President Donald Trump would decide within two weeks whether to strike Iran. The commander-in-chief had been weighing military action after Israel, a key U.S. ally in the Middle East, began trading missile and drone strikes with the Islamic Republic last Thursday. 'We know exactly where the so-called 'Supreme Leader' is hiding,' Trump posted on social media on Wednesday, referring to Iran's Ayatollah Ali Khamenei. 'He is an easy target, but is safe there – We are not going to take him out (kill!), at least not for now.' A potential U.S. entrance into the conflict between Israel and Iran could heighten tensions in the region and further disrupt oil trade. Oil prices fell on Friday, in a likely sign that traders were relieved that Trump decided to delay conflict with Iran for two weeks. 'That means two weeks of uncertainty for financial markets, but investors are still inclined to see the Middle East conflict as a local, not a global, economic issue,' Paul Donovan, chief economist of UBS Global Wealth Management, said in a Friday analyst note. Meanwhile, Christopher Waller, a member of the Federal Reserve Board of Governors, said Friday that the U.S. central bank may cut interest rates as early as July. 'That would be my view, whether the committee would go along with it or not,' Walker said in an interview with CNBC. On Wednesday, the Fed decided to hold interest rates steady for its fourth meeting in a row. Meanwhile, Trump has pushed for interest rate cuts since he took office in January. 'Uncertainty about the economic outlook has diminished but remains elevated,' wrote the Fed in a Wednesday statement. While the central bank struck a cautiously optimistic approach to the U.S. economy, some analysts were more pessimistic. 'The slump in single-family construction is deepening, another headwind to activity and employment,' wrote Samuel Tombs and Oliver Allen, economists for Pantheon Macroeconomics, in a Friday research note. This story was originally featured on Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
