WSP Holdings higher as Q4 profit rises
Shares of WSP Holdings Ltd. (NYSE:WH) have moved up on news before the start of trading that the maker of seamless casing, tubing and drill pipes used for oil and natural gas exploration reported an increase in fourth-quarter profit. The Chinese company said that net income for the three months ended Dec. 31, 2007, rose 6.5% to $16.7 million from $15.7 million in the fourth quarter of 2006.
At 2:03 p.m. ET, the stock was up $0.37, or 7%, to $5.39. For detailed price information and recent news stories about WSP Holdings., click WH.
