Why Sterling Infrastructure Rallied on Tuesday

The company's earnings came in much better than expected as Sterling concentrated on the hottest parts of the market. Shares of Sterling Infrastructure (STRL 3.50%) rallied as much as 11.1% Tuesday, before settling into a mere 4% gain as of 3:47 p.m. ET. Sterling reported second-quarter earnings last night that handily surpassed expectations, and raised guidance, quelling some recent fears over the state of the economy generally and the construction industry specifically. But by pivoting to the hottest part ...