Top Basic Material Stock Gainers (ME, HK, Tenaris)
Mariner Energy, Inc. (NYSE:ME) added 0.38% to $26.28. The company Friday reported a decline in profit for the thrid quarter, hurt by lower revenues.
Mariner’s net income for the quarter fell to $1.82 million or $0.02 per share from $4.22 million or $0.04 per share last year.
On average, 11 analysts polled by Thomson Reuters expected the company to earn $0.09 per share in the quarter. Analysts’ estimates typically exclude special items.
Over the past 52-week, the stock had traded within the range of $11.35-$26.42 and is up more than 1222% year-to-date.
Petrohawk Energy Corporation (NYSE:HK) went up 0.36% to $16.90 on about 3.21 million shares. Earlier in the week, the company said that its third-quarter profit narrowly missed estimates on higher expenses, and the oil and natural gas explorer increased its spending guidance for the full year.
For the July-September period, the company earned $98.7 million, or 33 cents a share, compared with a loss of $40.2 million, or 14 cents a share, last year. Excluding items, it earned 13 cents a share, one cent a share below analysts’ average estimates, according to Thomson Reuters.
Total operating revenue was up over 70 percent to $409.2 million, as production soared, but it still fell short of estimates of $415.4 million.
Tenaris S.A. (ADR) (NYSE:TS) jumped 2.28% to $44.45. The company said on Thursday its third-quarter net profit rose 28 percent to $302.7 million, narrowly beating market expectations.
A Reuters poll of five analysts put the steelmaker’s quarterly earnings at a median of $288 million, with estimates ranging from $250 million to $310 million. In the third quarter of 2009, Tenaris had net income of $237 million.
Over the past one month of trading sessions, the stock went up more than 12%.