Quick Update:REX American Resources Corp (NYSE:REX); First Interstate BancsystemInc (NASDAQ:FIBK) And Forum Energy Technologies Inc. (NYSE:FET)

Alan Masterson - March 25, 2014

Boston, MA 03/25/2014 (wallstreetpr) – REX American Resources Corp (NYSE:REX), which is a premier ethanol company announced last week that it has scheduled its conference call to discuss its fourth quarter and full year 2013 financial results on March 26, 2013, that is, Wednesday. REX American resources operates seven ethanol manufacturing facilities and the combined shipment from these properties over a length of one year came in at 724 million gallons of ethanol. The earnings estimate by the analyst for the fourth quarter is set at $1.71 per share on revenue of $1.92 billion. Apart from this, REX American Resources Corp (NYSE:REX) is also a holding company of three subsidiaries, namely, Rex Radio and Television, Inc, Strero Town, Inc. and Kelly & Cohen Appliances.

First Interstate BancsystemInc (NASDAQ:FIBK) soared on the opening day of the week after it got a thumbs up from analysts at Sterne Agee. After the Fed Test results are out, the banking sector is seeing some positive news coming from the analysts. And, as a result the analyst at Sterne Agee has revised the rating of the bank upward to a ‘buy’. The upward revision comes in light of the benefits that accrue to the bank on its impending $73 million merger of Mountain West Financial. The analyst mentioned that the acquisition can be an effective factor to take up the revenues and earnings of the bank in the forthcoming quarters.

Even when Forum Energy Technologies Inc. (NYSE:FET) recorded a gain of 1.02% in its share value, the analysts at the Zacks Equity Research have put it into an overbought category. Over the last four weeks, the oilfield products company scaled up by nearly 7%. Hence, seeing the recent rally in the stock, the research firm notes a caution in line for the company. As a result, the analysts have placed a ‘sell’ rating on the stock and mentioned that the shares of Forum Energy Technologies Inc. (NYSE:FET) could take plunge anytime soon.


Alan Masterson

Alan has over 25 years of trading experience in the U.S. equity markets. He began his career in finance working on a program trading desk specializing in over-the-counter stocks. His career progressed from that point to his current position as senior trader on an institutional trading desk. In the evenings, Alan teaches economics at a local community college. He has contributed articles to various publications over the last six years, including feature articles for an economics magazine and various financial blogs. You may contact Alan via his email ([email protected]) or his Google+ page (https://plus.google.com/103338576216002376250).

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