Energy stocks were mixed in late Wednesday trading with the NYSE
Energy Sector Index slipping about 0.1% while shares of energy
companies in the S&P 500 were rising 0.1% as a group. Crude oil
for June delivery settled 67 cents higher at $102.37 per barrel
while June natural gas rose 1 cent to finish at $4.37 per 1 million
In company news, Hydrogenics Corp (
) shares plunged Wednesday after the hydrogen fuel cell and the
water electrolysis company priced an offering of 1 million shares
by the company and 500,000 shares by CommScope at $15 apiece, a
30.6% discount to Tuesday's closing price.
The company plans to use proceeds for general corporate
purposes, including replacing negative cash flows from
HYGS shares were down 24.5% at $14.80 each in late afternoon
trade, earlier sliding to a session low of $14.60 a share. The
stock has a 52-week range of $8.07 to $35.52 a share, rising 68.5%
over the past 12 months.
In other sector news,
(+) WMB, Forecasts 20% annual dividend growth through 2016 with
substantial excess cash coverage and line of sight to continued
high growth well beyond guidance period.
(-) DK, Announces secondary offering of 9.2 mln shares of common
stock by Delek Hungary Holding LLC. The company will not receive
any proceeds from the offering.
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