Energy Stocks Slightly Lower Near Close; Clean Energy, GE Finance Teaming Up to Promote Diesel-to-Natural-Gas Conversion

By Staff,

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Top Energy Stocks

XOM -0.43%

CVX +0.09%

COP -0.57%

SLB -1.11%

OXY -1.20%

Energy stocks are slightly lower with the NYSE Energy Sector Index sinking 0.6% while shares of energy companies in the S&P 500 are down 0.3% as a group. Crude oil for November delivery settled $1.40 lower at $99.72 per barrel while November natural gas was down 9 cents to $3.67 per 1 million BTU.

In company news, Clean Energy Fuels Corp. ( CLNE ) is finishing about 3.4% higher at $11.87 a share, earlier advancing as high as $12.25 after announcing a strategic alliance with the transportation finance division of General Electric's ( GE ) GE Capital unit to accelerate the conversion of heavy-duty trucking fleets from diesel to natural gas.

Under the alliance, truck-fleet operators will first work with CLNE to develop natural-gas-fueling contracts, and will then apply for loans and leases from GE Capital to acquire trucks from manufacturers. CLNE also will help offset the monthly cost of newly acquired natural-gas vehicles to make it consistent with the cost of a diesel truck.

In other sector news,

(+) XTXI, Together with Crosstex Energy LP ( XTEX ) and Devon Energy ( DVN ) agreed to combine substantially all of their midstream assets throughout the United States.

(-) HAL, Q3 revenue climbs 5% year over year to $7.47 bln, trailing estimates by $20 mln. EPS of $0.83 is up from a $0.65 per share profit during the year-ago period, also beating the FactSet consensus by a penny.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Copyright (C) 2014 All rights reserved. Unauthorized reproduction is strictly prohibited.

This article appears in: Investing Commodities
Referenced Stocks: CLNE , DVN , GE , XTEX

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