Energy stocks are moderately lower with the NYSE Energy Sector
Index falling about 0.4% and the S&P Energy Index slipping
about 0.6%. Crude oil for January delivery is up 77 cents to $86.66
per barrel. January natural gas is down 4 cents to $3.30 per 1
In company news, Solazyme Inc (
) is up 10% at $9 but earlier climbed as high as $9.90 after
successfully testing its renewable oil fermentation facility in
Clinton, Iowa. Initial targets call for annual production of about
20,000 metric tons starting in early 2014, eventually expanding to
100,000 metric tons.
In other sector news,
(+) WMB, (+1.9%) Prices $850 million offering of 3.7% senior
notes due 2023 at 99.722 of par. Proceeds will be used to finance a
portion of its investments in Access Midstream Partners GP.
(+) CCI, (+1.1%, hit 52 week highs) Increases revolving credit
facility by $500 million to $1.5 billion. Proceeds will be used to
finance tender offer for the company's 9% senior notes due
(-) XEC, (-1%) Declares regular cash dividend of $0.12 a share,
payable March 1 to shareholders of record on Feb. 15.
(-) SLB, (-6.1%) Expects earnings per share to fall by 5 to 7
cents in the fourth quarter because of contractual delays in
Europe, Africa and the Commonwealth of Independent States and
weaker- than-expected onshore U.S. and Western Canadian
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