RigNet Inc’s Stock Caught Fire on Friday

Offshore service stocks jumped on Friday without any news to drive the rally, with RigNet joining the likes of Seadrill Partners and others in a double-digit rally. It is a bit of a head-scratcher given that oil only rose 1.3% to roughly $51.50 per barrel, which is quite tame for crude these days — and still left it half a percentage point in the red for the week.