- Energy Recovery (ERII +4.5%) moves higher after reporting a lighter than expected Q2 loss but still generating a loss for the sixth straight quarter and in 16 of the last 18 quarters.
- ERII benefited from mega-project shipments, offset by higher operating expenses largely related to the CEO transition; its oil and gas segment recorded no revenues, with its only customer having terminated its product lease at the end of 2014.
- Wedbush maintains its Underperform rating on the stock with a $2 price target, saying that although ERII management indicated during its earnings call that its desal business was a cash cow, it had "hardly demonstrated that the business can consistently generate cash."