CPX - March 13 was such a great call (pats self on back)
CHL will work for hedge fund for $500,000 salary...
AP
Complete Production Services Shares Jump
Thursday April 26, 2:03 pm ET
Complete Production Services Shares Jump After Reporting 68 Percent Rise in 1Q Profit
NEW YORK (AP) -- Shares of oilfield services provider Complete Production Services Inc. jumped Thursday after the company reported 68 percent growth in first-quarter profit.
The Houston-based company's stock rose $2.06, or 8.9 percent, to $25.28 in afternoon trading on the New York Stock Exchange. Shares have ranged between $17.20 and $28.43 over the past year.
Complete Production Services said Wednesday afternoon its first-quarter profit rose to $47.4 million, or 65 cents per share, from $28.1 million, or 48 cents per share, in the prior-year period. Revenue swelled to $407.1 million from $262.3 million.
Results beat Wall Street's overall expectations for 61 cents per share in quarterly earnings.
Morgan Keegan analyst J. Michael Drickamer wrote in a research note that strong performance from the company's completion and production segment offset a big dropoff in its drilling division, and called the results a "clean beat."
