When natural gas prices finally make a comeback, business should pick up for Baker Hughes too. In the meantime, the oil and gas services company should see healthy demand in its deepwater drilling business, offsetting declines in demand for its land and shallow-water drilling operations.
About 60% of the company's revenue comes from outside of North America, giving it exposure to global growth opportunities. Bake Hughes has long-term, deepwater exploration and production contracts with Brazil's Petrobras and Mexico's Pemex that should help the company ride out oil price fluctuations, says Bill Webb, deputy chief investment officer at Gluskin Sheff.
|Homeless college students seek shelter during breaks|
|Another strong quarter for Smith & Wesson|
|Five things you didn't know about Bernie Madoff's epic scam|
|Don't fight it. Bitcoin has a bright future|
|Snowden docs had NYTimes exec fearing for his life|