Weyerhaeuser Shares Surge

Weyerhaeuser (WY) shares are trading at five-month highs today on news of a 34% jump in quarterly profit. The building-materials company reported strong third-quarter results before the bell, sparking a huge gap-higher open. WY began the session with a 5% gain, extending its rally off this month's lows to nearly 15%. The stock has lost a bit of its early momentum but is still holding on to a 3.3% gain.

In August, WY retested its yearly lows. The stock took a pounding in late May, resulting in a breakdown that eventually pushed shares to new 2013 lows. After successfully holding the $26.50 area, WY began the second half of its basing process. The stock put in a higher low in September and did so again this month....157 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.

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