It is the same great well run oil driller that it was last year, except that it is now even more profitable and selling at the same level, as when I bought it last February. Just released quarterly results, beat year ago quarter by 25%, but were a tad below those expected by analysts on average, some of whom also lowered their earnings expectations for 2008. In any case, BHI is still expected to earn well over $5 / share by every analyst - more than they ever made before, yet almost certain to happen. Furthermore, Baker Hughes is very likely to beat these expectations earning over $5.50.

However, given the current nervous market environment, BHI stock is now trading at more than 20% discount and is a good buy.