New York (December 21st, 2012) - MasTec Inc. (NYSE: MTZ), an infrastructure construction company operating mainly throughout North America across a range of industries, is down sharply in mid-day trading today, paring some of the gains from the previous trading session.
MTZ is currently trading 2.02% lower at $24.22 on volume of 358,691, which is well below the daily average volume of 1.04 million. MTZ had finished nearly 4.5% higher in the previous trading session.
MTZ broke through $24 resistance level as a result of Thursday’s rally. The stock had been struggling to break through this level over the past couple of weeks. Technical indicators for MTZ are still giving bullish signals.
Hercules Offshore Inc. (NASDAQ: HERO), a provider of shallow-water drilling and marine services to the oil and natural gas exploration and production industry globally, is down sharply in mid-day trading today. HERO is seeing a pullback after rising sharply on Thursday. In fact, the stock has had an excellent run this week, finishing higher in three of the four previous trading sessions.
HERO rose sharply this week after a rating upgrade from Tudor Pickering.
Earlier this month, RTK declared a special cash dividend of $0.19 per share, which will be payable in 2012. The company also announced early redemption of convertible notes.
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