Global markets rallied on positive economic data from the U.S. and China, sending the S&P 500 Index above the 1700 mark for the first time Thursday. Both the S&P 500 Index and the Down Jones have posted gains of approximately 19 percent year-to-date, while the Nasdaq and Russell 2000 have posted gains of roughly 21 percent and 25 percent, respectively. On Thursday, reports showed jobless claims in the U.S. declined 19,000 to $326,000, the lowest since January 2008. Additionally, the official China Manufacturing Purchasing Managers' for July increased to 50.3 from 50.1 in the previous month, any reading above 50 signals growth from the previous month.
Hornbeck Offshore Services, Inc. (NYSE: HOS) shares traded in the range of $55.46 to $58.28 Thursday before settling to close at $57.15, an increase of 7.93 percent. The stock appears to be facing some resistance at the $57.66 and $59.16 level with some support at $56.95. The company reported record quarterly revenue of $154.3 million for the second quarter of 2013, up 17 percent year-over-year. Shares of Hornbeck Offshore Services have gained approximately 66.0 percent year-to-date.
More information on Hornbeck Offshore Services and access to the free equity report can be found at:
www.WallStreetFundamentals.com/HOS
ITT Corp. (NYSE: ITT) shares traded in the range of $31.94 to $34.58 Thursday before settling to close at $34.34, an increase of 9.92 percent. The stock appears to have some support at the $32.47 and $32.03 levels. The company reported revenues were $609.0 million for the second quarter of 2013, up 9.0 percent year-over-year. Shares of ITT have gained approximately 46.0 percent year-to-date.
More information on ITT and access to the free equity report can be found at:
www.WallStreetFundamentals.com/ITT
MDU Resources Group Inc. (NYSE: MDU) shares traded in the range of $27.81 to $30.15 Thursday before settling to close at $29.93, an increase of 6.74 percent. The stock appears to have some support at the $29.92 and $28.63 levels. The company has increased its exploration and production business 2013 target to a 25 to 35 percent year-over-year growth in oil production. Shares of MDU Resources Group have gained approximately 40.0 percent year-to-date.
More information on MDU Resources Group and access to the free equity report can be found at:
www.WallStreetFundamentals.com/MDU
Pioneer Natural Resources (NYSE: PXD) shares traded in the range of $169.51 to $181.62 Thursday before settling to close at $174.15, an increase of 12.53 percent. The stock appears to have some support at the $169.51 and $161.92 levels. The company reported revenues were $1.18 billion for the second quarter of 2013, an increase of 29 percent year-over-year. Shares of Pioneer Natural Resources have gained approximately 63.0 percent year-to-date.
More information on Pioneer Natural Resources and access to the free equity report can be found at:
www.WallStreetFundamentals.com/PXD
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