Why Core Laboratories Rose 5% Today

Why Core Laboratories Rose 5% Today

Shares of oil service company Core Laboratories (NYSE: CLB) jumped 9% early today and remain up 5% as of 10 a.m. EDT. The company continues to struggle through the downturn in the oil industry due to impacts from the COVID-19 pandemic, as well as disruptions in the quarter from four tropical weather systems in the Gulf of Mexico. As oil industry struggles continue, Core Labs announced last week that it was raising $60 million through a senior note issuance.