Baker Hughes Gains 1.2% as Cost Cuts Drive Optimism Traded at $260M Volume Rank 432

On October 6, 2025, Baker Hughes (BKX) closed with a 1.20% gain, trading at a volume of $0.26 billion, ranking 432nd in market activity. The stock’s performance reflects a mix of operational updates and market dynamics within the energy sector. Recent developments suggest a focus on cost optimization and project execution, with management highlighting progress in key infrastructure contracts. Analysts have noted the company’s strategic alignment with midstream energy projects, which could bolster long-term revenue visibility despite near-term volatility.

Internal operational updates indicate a shift toward high-margin maintenance services, particularly in North American shale operations. The company’s recent earnings call emphasized a 10% reduction in operational expenses year-to-date, attributed to streamlined supply chain management. While no new guidance was provided, management reiterated confidence in achieving full-year cost targets. Market participants are closely monitoring upcoming quarterly reports for further clarity on capital allocation strategies.

To run this back-test robustly I need to clarify (and, if you wish, auto-fill) a few details about the trading universe and execution assumptions:

1. Universe definition • Which market(s) should the “top-500 by daily trading volume” be drawn from? - U.S. listed equities only (NYSE + NASDAQ) – the most common choice - A specific index membership (e.g., S&P 1500, Russell 3000, etc.) - Global equities

2. Weighting scheme • Equal-weight each of the 500 daily selections (default), or • Volume- or market-cap-weighted?

3. Transaction assumptions • Slippage / commissions: specify a per-side bps cost or assume frictionless trading (default = 0). • Overnight financing or borrow cost (if any).

4. Rebalancing timing • Buy at the next day’s open and exit at the same day’s close (typical “hold 1 trading day”), or • Buy at close-to-close?

Once these points are set I will: • Retrieve each day’s volume rankings for the specified universe from 2022-01-01 to today. • Generate the daily long basket signals (top-500) and one-day exit signals. • Run the strategy_backtest_engine to compute CAGR, Sharpe, max draw-down, etc., and deliver the interactive report.