July 26, 2016 - 7:13 PM EDT
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Midday Update: Baker Hughes Incorporated (BHI) Charges Ahead 1.74% on July 26

Baker Hughes Incorporated (BHI) has been one of the best performers amongst all NYSE and NASDAQ listed stocks in the basic materials sector during morning trading on July 26. At the lunch break, shares of BHI have gained 1.74% to $44.47 after closing the day prior at $43.71. In the first two and a half hours of trading, the stock has gone as high as $44.62 and as low as $43.09. Today's rise has come with about 1.29 million shares changing hands, compared to an average 30-day volume of 3.06 million for Baker Hughes Incorporated. The price is currently below the 30-day volume weighted average price of $43.86 for BHI. The share appreciation gives the company a market capitalization of $19.14 billion based upon 437.91 million shares outstanding. It also means that BHI has a price-to-book ratio of 1.25:1. In the past 52 weeks, shares of BHI have traded as low as $37.58 and as high as $60.17. Technical traders will take note that at $44.47, shares of BHI are trading below their 200-day MA at $46.03 and below their 50-day MA at $45.58. Technical analysts pay close attention to these key moving averages because they often serve as technical support and resistance levels and because a move through or holding above them is typically regarded as bullish. Who is BHI? Baker Hughes Inc operates in the oilfield services industry. It provides products and services for drilling and evaluation of oil and gas wells, completion and production of oil and gas wells, fluids and chemicals and reservoir technology. The company’s 39000 employees are led by CEO Martin S. Craighead from the corporate headquarters at 2929 Allen Parkway in Houston, TX. For more information on BHI and other companies trading on the major exchanges, as well as the over the counter markets, or to be considered for contributing content for our distribution network, visit FinancialPress.com today. All data provided by QuoteMedia, with stock data accurate as of 12:00 PM ET. FinancialPress.com is not responsible for inaccuracies in third-party supplied information. About FinancialPress.com FinancialPress.com is a leading publisher of market and investment news, commentary, proprietary research and videos from seasoned journalists, analysts and contributors covering the financial markets and global economies. Leveraging our extensive distribution network and social media presence, we have cultivated a valuable audience of engaged market enthusiasts, which in turn delivers a variety of unique opportunities for industry partnerships, corporate communications, market exposure and investment. A complete disclaimer can be viewed here.

Source: Financial Press News (July 26, 2016 - 7:13 PM EDT)

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