Oil Services Firm Veritas DGC Rockets on Positive Earnings

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Shares of

Veritas DGC

(VTS)

soared a day after the company posted first-quarter earnings that topped analysts' expectations by 3 cents.

The stock recently rose 18.57%, or $4.38, to $27.94 in

New York Stock Exchange

trading.

Dain Rauscher Wessels

today upgraded the stock from buy to a rating of strong buy but speculative.

The Houston company, which provides integrated geological and geophysical technologies to the petroleum industry, reported first-quarter earnings of $5 million, or 18 cents a share, compared with a loss of $600,000, or 2 cents a share, in the same period last year. A

First Call/Thomson Financial

survey of 11 analysts called for first-quarter earnings of 15 cents a share.

Revenue for the quarter grew 62% to $111.3 million from $68.7 million last year.