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Asbestos concerns affect Halliburton stock. (Company Briefs).(Brief Article)(Statistical Data Included)
Publication: Oil and Gas Investor Publication Date: 01-FEB-02 Author: Wetuski, Jodi
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COPYRIGHT 2002 Access Intelligence, LLC.
Halliburton Co.'s (NYSE: HAL) stock took a beating in the wake of a $30-million increase in its asbestos-liability exposure. Though $30 million alone would not crater the balance sheet of the world's largest oil-service company, investors feared this is just the beginning of a problem that could haunt the Dallas firm for a very long time.
Halliburton's stock closed at $12 the day a verdict in one case was announced, down 42% from its previous close and from a 52-week high of about $50. At press time, it was about $11.
"While the stock heavily...
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