Cost Cuts Power Halliburton's Big Run

Shares of Halliburton (NYSE: HAL) have been on a tear, climbing 55% since the oilfield services company beat third-quarter earnings estimates in October. After trading near multiyear lows throughout the summer, the stock has erased all of last year's losses as the market recognizes that management's cost initiatives are taking hold and global demand is improving. Fourth-quarter revenue was little changed sequentially and up only 1% year over year, but profitability showed signs of life despite a declining ...