Top Energy Stocks
Energy stocks are lower this afternoon with the NYSE Energy
Sector Index sliding about 0.5% and the S&P Energy Index
falling about 0.6%. Crude oil for November delivery is down 67
cents at $89.45 a barrel. November natural gas is down 5 cents at
$3.57 per 1 million BTU.
In company news, Peabody Energy (
) is up more than 10% but off day highs after the coal miner
earlier today reported adjusted Q3 earnings of $0.51 a share on
$2.06 billion in revenue. That beat analyst expectations calling
for a $0.34 a share profit and $1.97 billion in revenue.
In other sector news,
(+/-) HK, (now flat, has lost strong earlier gains) Acquiring
producing and undeveloped oil and gas assets in the Williston Basin
from Petro-Hunt LLC and an affiliated entity for $1.45 billion in
cash and stock. Canada Pension Plan Investment Board also agrees to
buy $300 million of HK common stock at $7.16 a share.
(-) BP, (-1.5%) Inks $17.1-billion cash deal selling its TNK-BP
50% stake to Rosneft. Dea5 also includes BP buying 12.84% Rosneft
(-) NXY, (-5.5%) Canada's government late Friday blocks $5.22
billion bid for Progress Energy Resources Corp (PRQ.TO) by
Malaysian state oil company Petronas, a surprise ruling seen as
having huge implications for China's state-owned CNOOC (
) proposed buyout of NXY.
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