Diamonds and Dogs
11/13/12Hi-Crush Partners LP (HCLP)
Hi-Crush Partners is getting crushed today, down 23.78% at $15.51. The mining and sands company (sands used in hydro-fracking) saw its shares deteriorate after news was released that a large contract was being cancelled. Hi-Crush announced that Baker Hughes was terminating a supply agreement with the company. Hi-Crush filed suit in a Texas court seeking damages because it thinks the termination was an attempt by Baker Hughes to get out of purchase requirements under the agreement. However, Hi-Crush's management stated that it was an isolated incident and would not affect the company or its distributions. Regardless, investors fled the recently public company, dropping share prices to below the IPO price, and setting a new 52-week low.
Headwaters Inc. (HW)
Headwaters is rushing higher today, up 7.93% at $6.53. The construction material company saw its shares pop after a great earnings report. Headwaters beat estimates on revenue and on earnings per share. The company's revenue was announced at $190.1 million, beating analysts' forecasts of $184.4 million. Furthermore, earnings per share came in at $0.10 per share beating estimates of $0.08 per share. Investors were excited about the positive earnings report and pushed shares up near the 52-week high.