Huge Dow gain boosts most regional stocks

Published 1:41 pm Thursday, October 30, 2008

An astounding gain of nearly 11 percent in the Dow Jones industrials Tuesday pushed up almost all stocks of Louisiana and Mississippi companies as investors went bargain hunting, even as oil prices hit a 17-month low.

The Dow closed up nearly 900 points — the second largest daily jump ever. Light sweet crude for December fell 49 cents to $62.73, the lowest closing price since May 15, 2007.

In the regional financial sector, Hancock Holding Co. rose 42 cents, or 1 percent, to close at $41.94. BancorpSouth Inc. rose $2.60, or 13 percent, to $22.65. Iberiabank Corp. jumped $2.06, or 4.8 percent, to $45.15. Whitney Holding Corp. was up $1.47, or 9 percent, to $17.80, and MidSouth Bancorp Inc. finished up 65 cents, or 4.2 percent, at $16.

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In the utility sector, Entergy Corp. jumped $7.25, or 9.8 percent, to $81.01, while Cleco Corp. rose $1.94, or 9.6 percent, to $22.26.

The petroleum sector was led by offshore transporter Tidewater Inc., which gained $4.26, or 12.2 percent, to close at $39.13. Another transporter, Hornbeck Offshore Inc., rose $1.71, or 9.9 percent, to $19.03.

Among producers, Energy Partners Ltd. rose 31 cents, or 8.9 percent, to close at $3.81. PetroQuest Energy Inc. added 55 cents, or 7.4 percent, to $7.94. Stone Energy Corp. jumped $1.72, or 7.2 percent, to $25.69. Callon Petroleum Co. was up 11 cents, or 1.4 percent, at $8.03. McMoRan Exploration Co. rose 14 cents, or 1.5 percent, to $9.38.

Offshore fabricator Global Industries Ltd. rose 36 cents, or 11.4 percent, to $3.53. Another fabricator, Gulf Island Fabrication Inc. gained 63 cents, or 3.7 percent, to close $17.64.

Superior Energy Services Inc. gained $1.60, or 10.5 percent, to $16.84. Newpark Resources Inc. added 65 cents, or 15.5 percent

Construction-engineering company The Shaw Group Inc. gained $1.94, or 8.6 percent, to close $14.38.

Chemical maker Albemarle Corp. rose $1.63, or 8.5 percent, to $20.69.

Telecommunications provider CenturyTel Inc. was up $2.19, or 8.6 percent, at $27.81.

In the medical sector, Amedisys Inc. closed up $1.96, or 4.3 percent, at $47.50. LHC Group Inc. jumped $1.82, or 8 percent, to $24.52.

Billboard provider Lamar Advertising Co. rose 32 cents, or 2.5 percent, to $13.35.

Poultry producer Sanderson Farms Inc. shed 12 cents, or 0.4 percent, to $27.49. Cal-Maine Foods Inc, an egg producer, was down 19 cents, or 0.8 percent, at $24.08.

Swimming pool supplier Pool Corp. closed up 53 cents, or 3.4 percent, at $16.25.

Funeral provider Stewart Enterprises Inc. rose 30 cents, or 6.6 percent, to close at $4.86.