Market Overview

Market Update

Shares of Rex Energy Corp (NASDAQ: REXX) gained about 1.6% after the company reported a jump in its first-quarter production volumes. Rex Energy's Q1 daily production rate surged 120% to average 60.7 million cubic feet equivalent per day. It projects to record Q1 charges of around $0.6 million.

Shares of Flotek Industries Inc (NYSE: FTK) rose about 2% after the company issued upbeat first-quarter revenue forecast. Flotek projects revenue to exceed $78 million. Last year, Flotek first-quarter revenue came in at $52.9 million. For the quarter, Flotek projects operating income to exceed $16 million, versus $9.3 million last year.

Shares of Resolute Energy Corporation (NYSE: REN) rose about 0.2% after the company launched an offering for $250 million of senior notes due 2020.

Shares of Openwave Systems Inc (NASDAQ: OPWV) gained about 0.8% after the company announced its plans to sell its service mediation and messaging businesses to a California-based private equity firm Marlin Equity Partners.

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