Baker Hughes' Stock Extends Rally After Halliburton Talks Confirmed

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.