NEW YORK (TheStreet) -- Shares of McDermottInt'l (MDR) - Get Report are rising 2% to $5.09 on heavy trading volume early Wednesday afternoon after the company posted better-than-expected earnings for the 2016 second quarter.
After yesterday's market close, the Houston-based company posted adjusted earnings of 8 cents per share, surpassing analysts' expectations of 2 cents per share.
Revenue fell 32% to $706.6 million year-over-year and was below analysts' estimates of $753.4 million.
The engineering and construction company focuses on the energy and power industries.
About 3.45 million of the company's shares were traded so far today compared to its average volume of 2.73 million shares per day.
(McDermott is held in David Peltier's Stocks Under $10 portfolio. See all of his holdings with afree trial.)
Separately, TheStreet Ratings Team has a "Sell" rating with a score of D+ on the stock.
This is driven by a number of negative factors, which should have a greater impact than any strengths, and could make it more difficult for investors to achieve positive results compared to most of the stocks covered.
Among the areas that are negative, one of the most important has been poor profit margins.
Recently, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.
You can view the full analysis from the report here: MDR