Allis-Chalmers Shares Reach New High

By Houston Business Journal

Shares of Allis-Chalmers Energy Inc. reached another 52-week high on Thursday.

As one of the biggest percentage gainers on the New York Stock Exchange that day, Allis-Chalmers (MYSE: ALY) shares touched the new high of $7.59 before pulling back to close at $7.49, adding 50 cents or just over 7 percent.

Volume has picked up in the shares of the Houston oilfield services company since early December, with nearly 1 million shares changing hands.

The shares reached a low of $1.79 in early July 2010 before staging a rally that has continued early into 2011.

Copyright 2011 American City Business Journals

http://www.bizjournals.com/houston/news/2011/01/06/allis-chalmers-shares-reach-new-high.html?ana=thestreet

Copyright bizjournals.com 2010

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