Halliburton (HAL) Rockets 19% on Upbeat International Outlook

We recently published 10 of Wall Street’s Outperformers. Halliburton Company (NYSE:HAL) is one of the top-performing stocks last week.

Halliburton saw its share prices jump by 19.22 percent week-on-week, with sentiment buoyed by an upbeat outlook for its international business despite recording a disappointing earnings performance in the third quarter of the year.

In an updated report last week, Halliburton Company (NYSE:HAL) its international market is standing out amid its “differentiated performance both on and off-shore.”

“Our growth engines are on track,” it said.

Additionally, Halliburton Company (NYSE:HAL) has set a $400 million cost saving goal beginning next year as it eyes to return cash to shareholders, maintain cost capital discipline, and invest in technologies seen to drive long-term performance.

In the third quarter of the year, Halliburton Company (NYSE:HAL) saw its attributable net income dwindle by 97 percent to $18 million from $571 million in the same period last year.

Revenues dipped by 1.7 percent to $5.6 billion from $5.697 billion year-on-year, as revenues from completion and production decreased by 2.3 percent, while that of drilling and evaluation ended flat.

While we acknowledge the potential of HAL as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an extremely cheap AI stock that is also a major beneficiary of Trump tariffs and onshoring, see our free report on the best short-term AI stock.

READ NEXT: 30 Stocks That Should Double in 3 Years and 11 Hidden AI Stocks to Buy Right Now.

Disclosure: None. This article is originally published at Insider Monkey.