Shares of energy driller Crescent Point Energy (NYSE: CPG) rose 14.5% in early trading on Feb. 18, though that gain had cooled to a still-notable 9.5% or so by 11 a.m. EST. The big news came out after the close on Feb. 17, when the company made two announcements.
The first bit of information Crescent Point shared was that it would hold its next earnings call on Feb. 24. That's a big snore that most probably didn't take note of because the other fact was that the exploration and production company had bought some Canadian assets from Royal Dutch Shell (NYSE: RDS.B) . For reference, Shell's stock was off by about 2% at roughly 11 a.m. EST.
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Why Crescent Point Energy Stock Rallied as Much as 14.5% in Early Trading Today