FMC Technologies (FTI) reported strong results after the market close yesterday, with $2 billion in sales for the quarter topping the Street’s $1.9 billion estimates. Adjusted earnings of about $0.72 easily beat the $0.63 consensus. Strong demand from integrated oil companies boosted results, and management noted that their backlog stands at an impressive $7.3 billion. Continued subsea business momentum has led FTI to up its EPS guidance for the year, to $2.70-$2.80 a share, up from a previous $2.55-$2.75 range and better than the $2.70 consensus. FTI is up on the results this morning, lifting the stock above our $62 buy limit. Hold FTI and I’ll have more detail for you in today’s Weekly Update.