Oilfield Services looking good

[dan_s]

NEW YORK (AP) -- THE RESULTS: Halliburton Co., which provides a variety of services for the oil industry, reported a 26 percent jump in third-quarter profits despite a five-month slump in oil prices.

DRILL BABY DRILL: The company's strong results reflected a 6 percent increase in U.S. rig activity in the quarter.

WILL IT CONTINUE?: The drop in oil prices so far hasn't discouraged drillers from expanding in North America. But analysts say if oil drops below $60 per barrel, many projects would be put on hold. Benchmark crude ended the day at $86.38 per barrel on Monday.

I often wonder if Wall Street knows that HAL doesn't sell oil. - Dan