Rowan Gained 20% Last Week

Rowan Cos.

(RDC)

shot up 20% on the week as investors welcomed news that natural gas prices were rising and that the company's Gulf of Mexico jack-up fleet is at 100% capacity. The company reported a slightly wider than expected loss for its first quarter of $14 million, or 15 cents a share, excluding a gain. Analysts were expecting a loss of 12 cents a share. "For the past nine months, we have cautioned that the future would be uncertain. It was and continues to be," Rowan said in a statement. "But it appears that the imbalance between natural gas supply and demand is changing, and the change is being reflected by an increase in the price of natural gas." The company also got a boost from Hugo Chavez's return to the Venezuelan presidency.