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Crude prices rise fuels energy stocks
Energy company Range Resources Corp’s (RRC, $43.12, +$1.99, +4.84%) first-quarter net income soared more than 11-fold on noncash hedging gains. “While our financial results reflect the decline in oil and gas prices, our operating results were strong, reflecting excellent first-quarter drilling results,” said Chief Executive John H. Pinkerton. The company expects to reduce debt during the rest of the year with lower capital spending and asset sales. Read News
