On July 28, Baker Hughes fell 3.13% in regular trading, trading at $58.72 per share with turnover of $233 million, reversing the prior session's earnings-driven rally.

The pullback followed details from the company's earnings call revealing that growth in Latin America, offshore Africa, and North American onshore operations is being offset by capital expenditure weakness in Europe and the Middle East, with Middle East activity expected to remain largely flat. Although Q2 revenue of $6.74 billion and adjusted EPS of $0.64 both significantly beat consensus estimates of $6.51 billion and $0.50 respectively, actual revenue still declined year-over-year from $6.91 billion, intensifying concerns about growth sustainability amid regional divergence.

Broader oil services sector pressure compounded the decline. Within the Oil & Gas Equipment & Services sector, SLB Ltd fell 0.72%, Halliburton dropped 1.67%, TechnipFMC declined 2.95%, and Solaris Energy Infrastructure lost 11.88%, reflecting widespread selling across the industry.

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