Where Is The Value In These Stocks? Miller Energy Resources Inc (MILL), Hudson City Bancorp Inc (HCBK) and McDermott International (MDR)
New York, NY – GDP INSIDER – 04/07/2015.
This article discusses three companies: Miller Energy Resources Inc (NYSE:MILL), Hudson City Bancorp Inc (NASDAQ:HCBK), and McDermott International (NYSE:MDR)
Miller Energy Resources Inc (NYSE:MILL) skyrocketed yesterday with the stock climbing 32.07% or $0.2399 to close at $0.9880 on heavy trading of 2.003 million shares. The independent oil and natural gas production and drilling company had been trading down and started to bounce, after it announced that it had appointed a new Chief Financial Officer to help better align Miller Energy Resources Inc’s financial resources with its capital structure. It is also hoped that it can optimize the value of its oil and gas infrastructure assets making it a hold for now.
Hudson City Bancorp Inc (NASDAQ:HCBK) fell back yesterday with the stock declining 6.86% or $0.72 to close at $9.77 with more than 36.871 million shares changing hands. The bank holding company for Hudson City Savings Bank started to decline after it announced that its planned merger with M&T Bank Corp had been delayed. The acquisition, which was agreed on over three years ago, is now waiting on the Federal Reserve to approve the transaction before the deal can be finalized. Since the deal is getting closer it is probably worth holding, or waiting a few days before buying in.
McDermott International (NYSE:MDR) continued to climb yesterday with the stock gaining another 6.46% or $0.27 to close at $4.45 on quite active trading of 8.645 million shares, compared to its three month average of 5.367 million. The engineering, procurement and installation company has been pulling back recently as oil prices are starting to increase, but without any long term positive news from the oil industry the gains may only be temporary. With RSI of 78.03 it is likely there will be downward pressure on the stock this week, making it a sell for now.
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