Why Contrarians Like Baker Hughes

You'd never know there was a bull market by looking at oil-service stocks. A decline in U. S. drilling activity, combined with low natural-gas prices, is depressing them. Baker Hughes, one of the industry's major players, is no exception. The stock did reach 31 this year, but it has dropped back to 24 1/2, a bit below what it sold for at yearend.

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