UBS said the oil services downturn is playing out as expected and that Halliburton (HAL) is well positioned for the eventual upturn. The firm cited the company's ability to maintain margins, synergies from its merger with Baker Hughes (BHI), and the potential for major share repurchases. UBS reiterated its Buy rating and raised its price target to $60 from $50 on Halliburton shares.

Unusual total active option classes on open include: ImmunityBio (IBRX), Halliburton (HAL), Redfin (RDFN), Nokia (NOK), Matterport (MTTR), General Motors (GM), UPS (UPS), Philip Morris (PM), PepsiCo (PEP), and General Electric (GE).

Reports Q1 revenue $5.8B, consensus $5.67B. "Halliburton delivered solid first quarter results that again demonstrated the power of our strategy and the strength of our execution. Activity in North America recovered from fourth-quarter lows, and our international business delivered its 11th consecutive quarter of year-on-year growth," commented Jeff Miller, Chairman, President and CEO. "Our customers' multi-year activity plans across markets and asset types confirms my confidence in the strength and duration of this upcycle. Halliburton demonstrated its commitment to shareholder returns in the first quarter and repurchased $250 million of common stock - a solid start to the year and a good benchmark for our expectations going forward," concluded Miller.