It's amazing what a little bit of news will do to badly beaten down energy stocks. We saw that this week as several energy stocks exploded higher on lots of good news. Leading the charge, according to S&P Capital IQ data, were American Midstream Partners (AMID), TETRA Technologies (TTI -3.67%), and Magnum Hunter Resources (NYSE: MHR).
Deal news was the fuel behind the rallies of both Magnum Hunter Resources and American Midstream Partners. In both cases, the news provided investors with more clarity on the company's immediate future. For Magnum Hunter Resources, it was an agreement of a unique joint venture agreement that locked up both near-term capital and growth, while American Midstream Partners announced a drop-down transaction that provides it a clear path to grow its distribution.
TETRA Technologies' surge, on the other hand, was completely fueled by its much stronger-than-expected second-quarter results. Not only did the company crush analysts' estimates, but TETRA Technologies is guiding to soundly beat the consensus next quarter, as well.
To learn more about why these catalysts caused the stocks to rocket so sharply this week, check out the following slideshow.
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