Shares of Shaw Group Inc. (NYSE: SHAW) soared in
trading on Wednesday after the Baton Rogue, Louisiana-based company announced
its first-quarter financial results. The company reported first-quarter revenue
of $1.5 billion. The company also updated its guidance for fiscal year 2012.
Shaw Group shares rose to an intra-day high of
$24.43 on Wednesday. The stock ended 16.06% higher on above average volume. The
rally pushed Shaw Group shares above their 50-day moving average.
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