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Fly News Breaks for March 7, 2017
HAL, WFT
Mar 7, 2017 | 08:59 EDT
Gabelli analyst Simon Wong said he was "pleasantly surprised" that Weatherford (WFT) appointed former Halliburton (HAL) CFO Mark McCollum as its new President and CEO and he views the selection "very favorably." The analyst, who said he has always believed that Halliburton is the most logical acquirer of Weatherford's portfolio of products, thinks the appointment of McCollum increases the likelihood that Halliburton will buy Weatherford "down the road." Wong has a Buy rating on Weatherford shares.
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