Chicago Bridge & Iron: Truss-Worthy Rally?

Chicago Bridge & Iron Company N.V. CBI shares are trading higher by $1.80 (9 percent) at $21.82 in Wednesday's session. At the high of the day ($23.08), the stock was higher by 75 percent from Friday's eight-year low of $13.21.

Investors began to line-up to cross over to the long-side early in Tuesday's session when it was announced a Delaware Supreme Court had ruled in favor of CBI in its dispute with Westinghouse. As a result, the stock added nearly $6.00 in Tuesday's session to end the day at $20.02.

After a higher open today, Chicago Bridge & Iron had a brief 10-cent retreat to $21.10 before continuing its move higher. So far, the ensuing rally has taken the stock to $23.08, but has fallen back to the $22.00 area. The current high is just shy of its May 16 high $23.36.