These 10 Firms Led Lagged Performance on Wednesday

6. Baker Hughes Company (NASDAQ:BKR)

Baker Hughes saw its share price decline by 6.44 percent on Wednesday to end at $35.89 each as investor sentiment was weighed down by the company’s dismal earnings performance and cautious business outlook for the rest of the year.

In the first quarter of the year, BKR saw net income drop by 12 percent to $402 million from $455 million in the same period a year earlier, while revenues ended flat at $6.4 billion.

Looking ahead, the company tempered its outlook for the year amid macroeconomic challenges brought about by uncertainties in trade policies.

“We believe Baker Hughes is well-positioned to navigate near-term challenges and deliver sustainable growth in shareholder value,” said BKR Chairman and Chief Executive Officer Lorenzo Simonelli.