Baker Hughes' Stock Extends Rally After Halliburton Talks Confirmed

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Baker Hughes Inc.'s stock extended gains in premarket trade Friday, after the oil services company confirmed late Thursday that it has held talks with rival Halliburton Co. regarding a potential buyout. The stock, which shot up 15% on Thursday after The Wall Street Journal reported the companies held talks, climbed another 5.4% ahead of Friday's open. Prior to the recent rally, the stock had lost 25% in three months through Wednesday, amid falling oil prices and disappointing third-quarter results. Halliburton's stock tacked on 2.4% in Friday's premarket after gaining 1.1% on Thursday.

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