Energy stocks are broadly higher with the NYSE Energy Sector
Index rising 1.7% and the S&P Energy Index climbing over 1.9%.
Crude oil for June delivery is up $1.76 to $95.75 per barrel. June
natural gas is up a penny to $ per 1 mln BTU.
In company news, Weatherford International Ltd. (
) is up about 9.6% to $13.90 a share, climbing toward a year high
$14.58 despite late yesterday trailing the analyst consensus for Q1
revenue by $63 mln, but meeting a reported adjusted EPS of $0.15
"These areas of focus - working capital, capital allocation,
business focus, and efficiency - will be the building blocks that
will allow us to deliver increasing free cash flow and higher
earnings from 2013 onwards," Weatherford's Chief Administrative
officer Dharmesh Mehta said according to a transcript of the
company's earnings call and reported by Reuters.
In other sector news,
(+) CGG, (+6%) Raised to Buy from Hold by analysts at Standpoint
(-) HNR, (-1.2%) Adjusted Q4 net income of $0.65 per share beats
analyst forecasts by $0.41 per share, GAAP net loss was $0.59 per
share, in from a $1,30 per share loss during the same quarter last
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