Halliburton Falls as Overseas Work Lags North America
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Halliburton Co., the world’s second-largest oilfield-services provider, declined 4.8 percent after profit fell in all regions outside of North America, disappointing investors’ expectations for global business.
Halliburton, which reached a two-year high last week, fell $1.73 to $34.09 at 4 p.m. in New York Stock Exchange composite trading. Operating income in the third quarter dropped 21 percent in Latin America from a year earlier. The decline was 31 percent in a region that includes Europe, Africa and the former Soviet Union, and 52 percent in the Middle East and Asia.