Halliburton profits slump but signs of recovery

Halliburton profits slump but signs of recovery

Halliburton's third-quarter results Friday gave the first concrete evidence that the oil industry may have bottomed out as profits plunged but drilling activity in the critical region of North America grew.

"This is not going to be as hard a downturn as we thought a quarter or so ago," Dave Lesar, Halliburton's chairman, president and CEO, said in a conference call with investors.

Those comments sent company shares jumping to a 52-week high of $31.27.

....