Earnings season was in full swing this week, creating a lot of volatility. However, not all of the volatility was of the downward variety, as several energy-related companies surged this past week on stronger-than-expected second-quarter results. According to S&P Capital IQ data, US Silica (NYSE:SLCA), Emerge Energy Services (NYSE:EMES), and Westmoreland Coal (NASDAQ:WLB) were among the biggest energy movers this week.
What was interesting about the three biggest movers this week is that, while earnings played a role in the rise, there was a lot more to the story. For US Silica, its earnings, as well as its outlook, clearly drove its stock higher. However, US Silica's earnings were also the fuel that moved Emerge Energy Services' unit price this week, as it won't report earnings until next week. Given US Silica's strong results, investors are now banking that Emerge Energy Services' results will deliver the same.
Meanwhile, Westmoreland Coal also produced solid second-quarter results. However, the big driver of Westmoreland Coal's stock price was a press release that the company put out with comments from its CEO addressing an investor's concern.
To learn more about why these catalysts caused the stocks to jump so sharply this week, check out the following slideshow.