This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

Facebook, InterMune: Market Movers

Halliburton (HAL):

Halliburton reported second-quarter earnings from continuing operations of $745 million, or 80 cents a share, on revenue of $7.23 billion. The average estimate of analysts polled by Thomson Reuters was for a profit of 75 cents a share on revenue of $6.99 billion.

The Houston-based oil services giant said its operating income in North America fell 19% during the quarter, mainly because of "escalating costs associated with guar gum, a blending additive used in our hydraulic fracturing processes."

Other factors included "the annual Canadian spring break-up, pricing pressure in hydraulic fracturing operations, and economic costs associated with equipment relocations" but Halliburton expects the guar cost and equipment relocation issues to "subside as we enter 2013."

Halliburton shares were 1% in midday trades.

Deckers Outdoor (DECK):

Shares of the Goleta, Calif.-based footwear company, whose brands include UGG boots and Teva sandals, were downgraded to underperform at Sterne Agee ahead of their quarterly report later this week.

"We would be not be involved in DECK going into the quarter and believe the company will lower FY guidance on next week's earnings call," the firm said. "We believe that there is high probability that Asian and European sales will not improve this year. U.S. sales are likely to be negatively impacted by higher prices and little innovation in the UGG Classic category."

Sterne Agee, which set a $38 price target on the stock, said it believes supply is outpacing demand for UGG boots and that pricing could be an issue as well.

"From 2004 to 2011 there has always been some pent-up demand for UGG boots come July, as the boots would sell out by late February and DECK would not ship Classics and new boots until July," the firm said. "This year, due to weather, pricing and increased distribution, there has been more than an adequate supply of UGGs and there appears to be no pentup demand. Our initial checks at the Nordstrom Anniversary Sale do not bode well for UGG. Given the high inventory levels at DECK (+95%) and at retailers and the higher prices, we expect to see both cancellations and some promotional activity begin soon on core product."

The stock dropped more than 6%.



>To contact the writer of this article, click here: Michael Baron.

Disclosure: TheStreet's editorial policy prohibits staff editors, reporters and analysts from holding positions in any individual stocks.
2 of 2

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 17,279.74 +13.75 0.08%
S&P 500 2,010.40 -0.96 -0.05%
NASDAQ 4,579.7890 -13.6380 -0.30%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs