Why Noble Stock Is Up 17% Today

Shares of offshore-drilling contractor Noble Corporation (NYSE: NE) were up more than 15% on Wednesday, following news after market close on Tuesday that the company has named industry veteran Stephen Butz as its new CFO. 

The press release said that Butz, who was CFO at Rowan prior to its merger with ENSCO (which was recently renamed Valaris), will join the company in his new role on Thursday. He also was CFO of Hercules Offshore through 2014, when he left to join Rowan. 

Investors are betting a new CFO can help Noble ride out a rough environment. Image source: Getty Images.

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Source Fool.com