By Jon "DRJ" Najarian
Gulf of Mexico Discovery
A little while ago we spoke of the unusually heavy activity in the energy driller, and we didn't have to wait long to reward our investment. McMoRan Exploration (NYSE:MMR) announced a major discovery on its Davy Jones ultra-deep prospect, saying the find could make make it one of the largest discoveries on the Shelf of the Gulf of Mexico in decades. MMR closed at $9.19 Friday, but trades to $11.25 in the pre-market today. Also keep an eye on one of the partner's in the project, Energy XXI (NASDAQ:EXXI), which is moving higher by over 30 percent on Heat Seeker.
Tuesday Morning Shines
The home-products company said second-quarter net sales ended Dec. 31, 2009, were $289.6 million, up 6.2 percent from $272.7 million from the year-ago period. Comparable-store sales for the last quarter increased by 5.1 percent. TUES closed at $3.03 Friday but trades at $3.77 in the pre-market this morning.
Barron's Positive On TWC
Time Warner Cable (NYSE:TWC) was named as best selection for pure-play in cable operations sector, with CMCSA in second place. The cable sector is seen as strong anti-recession play with protected income streams from subscription and advertising fees. Barron's noted that Time Warner could hit $55 this year. TWC is up more than $1 from Friday's $41.51 close.
(Chart courtesy of tradeMONSTER)