It's time for the final trade. Let's go around the horn. Mike, you get to start us off.Yeah, I think you can still continue to play BABA to the upside. Use call spread risk reversals. All right, Tim.Courtney, first of all, thank you for all your help this week. We had a lot of Courtney this week. It was great.Google, I think next week, again, the setup is easy. I think the tailwind for cloud and what's going on broadly in the sector. YouTube up 13%.I like it. Bonoan, I think you've heard from both SLB and H ...

Core Viewpoint - Halliburton has warned of a potential earnings impact in the second quarter due to tariffs and reduced oilfield activity in North America, leading to a decline in its share price by approximately 6% [1][5]. Company Performance - Halliburton's shares fell to $20.62, reflecting a 6% drop after the earnings forecast indicated a 2 to 3 cents per share impact from trade tensions [5]. - The company reported a profit of $204 million, or 24 cents per share, for the three months ending March 31, down from $606 million, or 68 cents per share, in the previous year [12]. - First-quarter revenue was $5.42 billion, surpassing analysts' average estimate of $5.28 billion [12]. - North America revenue decreased by 12% year-over-year to $2.2 billion [7]. Market Conditions - U.S. crude prices are currently below $64 per barrel, with many companies indicating they cannot drill profitably if prices fall below $65, which negatively affects demand for Halliburton's services [2]. - The oilfield service sector is concerned that tariffs on imported steel and parts will disrupt supply chains and increase equipment costs [6]. Future Outlook - Halliburton's CEO noted that customers are evaluating their activity plans, which may lead to higher than normal white space for committed fleets and potential retirement or export of fleets to international markets [3]. - The company forecasts a 1% to 3% increase in revenue for its completion and production division in the second quarter, while drilling and evaluation division revenue is expected to be flat to down 2% [11]. - International revenue is projected to be flat to slightly down year-over-year, primarily due to reduced drilling and project management activity in Mexico [8].

Core Viewpoint - Halliburton Company has faced significant challenges over the past year, with a stock decline of over 34%, primarily due to its heavy reliance on North America, which is experiencing reduced drilling activity and pricing pressures [1][3]. Group 1: Financial Performance - Halliburton's North American revenues declined by 8% year over year in 2024, with expectations of a further low- to mid-single-digit drop in 2025 due to lower negotiated pricing for pressure pumping services [4][5]. - Analysts have revised Halliburton's 2025 EPS estimates down from $2.94 to $2.63 over the past 60 days, indicating growing concerns about profitability [3][4]. - The Completion & Production operating margin was 20% in Q4 2024, but a sequential decline of 1.75-2.25% is expected in Q1 2025, alongside a projected 0.5% decline in the Drilling & Evaluation segment [6][8]. Group 2: Market Conditions - The U.S. rig count is decreasing, and completion activity is slowing, contributing to a challenging environment for Halliburton [5]. - International revenues grew by 6% in 2024, but growth is expected to stall in 2025, particularly due to a decline in activity in Mexico [10][11]. Group 3: Strategic Initiatives - Halliburton is investing in advanced drilling technology and artificial lift services, which are projected to generate an additional $2.5-$3 billion in revenues over the next three to five years [12]. - The company is also seeing efficiency gains from its Zeus e-fleets and Octiv Auto Frac systems, with reported improvements in stage efficiency [13][14]. Group 4: Outlook and Recommendations - The combination of heavy exposure to North America, margin compression, and slowing international growth presents a challenging outlook for Halliburton in 2025 [15][16]. - Despite some positive developments in technology and cash flow, the stock is deemed unattractive at current levels, with a Zacks Rank of 4 (Sell) [16].