5 Basic Materials Stocks Driving The Sector Higher

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Two out of the three major indices are trading up today with the Dow Jones Industrial Average ( ^DJI) trading up 3 points (0.0%) at 15,545 as of Thursday, July 25, 2013, 12:49 PM ET. The NYSE advances/declines ratio sits at 1,346 issues advancing vs. 1,602 declining with 83 unchanged.

The Basic Materials sector currently sits up 0.5% versus the S&P 500, which is unchanged. Top gainers within the sector include Cabot Oil & Gas Corporation ( COG), up 7.1%, Range Resources Corporation ( RRC), up 5.5%, Consol Energy ( CNX), up 5.6%, Air Products & Chemicals ( APD), up 5.1% and Southwestern Energy Company ( SWN), up 4.6%. On the negative front, top decliners within the sector include PetroLogistics ( PDH), down 8.6%, Cameron International Corporation ( CAM), down 6.3%, Newfield Exploration Company ( NFX), down 5.3%, Diamond Offshore Drilling ( DO), down 4.2% and Seadrill ( SDRL), down 1.8%.

TheStreet would like to highlight 5 stocks pushing the sector higher today:

5. Praxair ( PX) is one of the companies pushing the Basic Materials sector higher today. As of noon trading, Praxair is up $0.78 (0.7%) to $118.84 on heavy volume. Thus far, 1.2 million shares of Praxair exchanged hands as compared to its average daily volume of 1.2 million shares. The stock has ranged in price between $117.23-$119.14 after having opened the day at $117.76 as compared to the previous trading day's close of $118.06.

Praxair, Inc. engages in the production, distribution, and sale atmospheric and process gases, as well as surface coatings in North America, Europe, South America, and Asia. Praxair has a market cap of $34.6 billion and is part of the chemicals industry. Shares are up 6.9% year to date as of the close of trading on Wednesday. Currently there are 12 analysts that rate Praxair a buy, 1 analyst rates it a sell, and 5 rate it a hold.

TheStreet Ratings rates Praxair as a buy. The company's strengths can be seen in multiple areas, such as its revenue growth, good cash flow from operations, expanding profit margins, increase in stock price during the past year and notable return on equity. We feel these strengths outweigh the fact that the company has had sub par growth in net income. Get the full Praxair Ratings Report now.

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