On August 10, Baker Hughes rose 3.05% in regular trading, trading at $63.445/share, with turnover of $61.18 million.

On the news front, the company announced it secured a contract from a Searah Limited subsidiary to supply subsea production systems and digital monitoring tools for Indonesia's Geng North and Gehem natural gas fields. The deal includes 17 deepwater horizontal tree systems, manifolds, control networks, and equipment protection software. Equipment fabrication will take place at a manufacturing plant in Batam, with additional operational support from a facility in Balikpapan.

This contract represents one of several major orders recently secured by Baker Hughes. The company's Q2 earnings significantly beat expectations, with adjusted EPS of $0.64 versus the $0.50 consensus estimate, a 28% beat. Revenue reached $6.74 billion, surpassing the $6.51 billion estimate. Notably, the IET segment posted record orders of $7.1 billion, doubling year-over-year, with backlog rising 19% to an all-time high.

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