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Why Apergy Stock Soared Today

TheMotleyFool

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Shares of Apergy Corporation (NYSE: APY) were soaring 28.1% higher as of 3:15 p.m. EDT on Tuesday. The big jump came after the provider of technology for the oil and gas industry announced its first-quarter earnings after the market closed on Monday and held its quarterly conference call on Tuesday morning.

Apergy reported first-quarter revenue of $261.4 million, up 6% year over year. The company posted a net loss of $659.5 million, or $8.51 per share. Investors were more interested, though, in Apergy's actions to position the company for what's likely to be a tough period for the oil and gas industry over the next year.

Image source: Getty Images.

Source Fool.com

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