• 
• See all for Midnight Trader
• View Print Version

• Real Time Analyst Upgrades/Downgrades
• Real Time Stock News & Trading Ideas
• Free Earnings Calendar

Energy stocks are higher this afternoon with the NYSE Energy Sector Index climbing over 3.0%, buoyed by broader news on the state of the economy after the Labor Department reported a surprise net increase in new job hires during July. The S&P Energy Index is up about 2.8% with crude oil for September delivery up now up over 5%, climbing $4.51 to $91.63 a barrel in NYMEX trade.

In company news, Union Drilling Inc ( UDRL ) is ahead 21% today following an upgrade of the oilfield services firm by BMO Capital. The improved view follows UDRL late Wednesday reporting stellar Q2 financial results, reversing a year-ago $0.15 a share net loss with a $0.03 a share profit and crushing the analyst consensus by $0.09. Revenues also beat as the company rig utilization rate climbed from 54.4% during the same three months last year to a 78.1% pace during the period ending June 30.

In other sector news,

(+) KOG, (+6.8%) Reports 288% rise in Q2 sales over 2011 levels to $85.2 million. Adjusted earnings were $0.10 a share, matching Street expectations.

(+) EOG, (+10.5%) Beats by $0.18 a share. Also beats on revenues.

(-) SWN, (-4.5%) EPS in-line, raises FY12 output forecast to 33 million barrels of oil equivalent from 32.3 million barrels. Total output rises 12% in Q2.

(+) LNG, (+0.5%) Repays convertible senior unsecured notes.

Related Commodities Articles

• 
  First Solar Helps Industry Skyrocket
  5/24/2013 02:00 PM
• 
  Canadian Market Slightly Lower, But Has Overcome Strong Several Sell Offs; Valeant Surging On Bausch & Lomb Reports
  5/24/2013 01:57 PM
• 
  Bonavista Energy Closes Private Placements of Senior Notes, Raises $225M
  5/24/2013 01:51 PM