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McDermott (MDR) Jumps: Stock Rises 7.6%

McDermott International, Inc.MDR was a big mover last session, as the company saw its shares rise nearly 8% on the day. The move came on solid volume too with far more shares changing hands than in a normal session. This stock, which remained volatile and traded within the range of $6.82-$9.49 in the past one-month time frame, witnessed a sharp increase yesterday.

The stock gained following news that the company has received a contract from Precision Mechanical for a double wall liquid hydrogen sphere at the John F. Kennedy Space Center in Cape Canaveral, FL.

The company has seen no changes when it comes to estimate revision over the past few weeks, while the Zacks Consensus Estimate for the current quarter has also remained unchanged. The recent price action is encouraging though, so make sure to keep a close watch on this firm in the near future.

McDermott currently has a Zacks Rank #3 (Hold) while its Earnings ESP is 0.00%.

Investors interested in the Oils-Energy segment may consider World Fuel Services Corporation INT , which has a Zacks Rank #2 (Buy). You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here .

Is MDR going up? Or down? Predict to see what others think: Up or Down

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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