NOV rises on $200 mln Brazil subsea expansion plan

Shares of energy equipment supplier NOV NOV.N rise 1.1% to $19.7

Co says it plans to roughly double the capacity of its subsea flexible pipe manufacturing facility in Açu, Brazil, through a $200 million investment over the next three years

The investment will result in an about $50 million increase to the company's 2026 capital expenditure plan

"We are expanding our subsea flexible pipe manufacturing facility in Açu, Brazil to support what we see as sustained, long-term demand," said CEO Jose Bayardo

Including session's move, NOV up 26.1% YTD