The seemingly strong performance of Halliburton (NYSE:HAL) wasn't enough to impress the market, and the share price of the oil giant got hammered, with Morgan Stanley (NYSE:MS) adding insult to injury by downgrading them from "Overweight" to "Equalweight."
Earnings for the quarter ending September 30 were $544 million, or 60 cents a share. That's over double the $262 million earning in the same period last year, or $0.29 a share.
Revenue for the quarter jumped to $4.67 billion, a 30 percent gain. The street was looking for revenue of $4.78 billion, and earnings of $0.56 a share.
Halliburton shares were pressured down as a result, closing Monday at $34.09, losing $1.73, or 4.83 percent.
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