Rochester, NY 8/17/2009 1:53:26 PM
McDermott International Inc., MDR - McDermott International Shares Gained a Market High
McDermott International Inc.
Shares of McDermott International Inc. climb this is soon after the company, which focuses on infrastructure, engineering and construction, posted a 48 percent drop in profit while beating Wall Street estimates.
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Tahira Afzal, an analyst at KeyBanc Capital Markets, said the Houston company's earnings of 40 cents per share were in line with her estimate "despite a lighter top line and currency translation losses" that she did not factor in.
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