Diamond Offshore Drilling Inc DO shares are trading higher by 83 cents (3 percent) at $16.64 in Monday's session.
The catalyst for the rally is a Q3 EPS beat of 6 cents along with a sales beat of just over $1 million.
After a slightly higher open, DO had a brief retreat but found support just above the Friday's close ($15.81), only reaching $15.92 and continued its move higher. The ensuing rally took the stock over $17.00 for the first since March 30, when it peaked at $17.30.
Since reaching that elevated level, it has surrendered most of those gains, but is comfortably above the low for the session.
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