Energy stocks are mixed, with the NYSE Energy Sector Index up
less than 0.1% while shares of energy companies in the S&P 500
are down 0.3% as a group. Crude oil for January delivery is up 50
cents at $97.72 per barrel while January natural gas is flat at
$4.29 per 1 million BTU.
In company news, WPX Energy (
) is down nearly 4% at $19.11 a share after saying it reached an
agreement with Taconic Capital Advisors LP to add an additional
seat to its board of directors by Jan. 10, 2014, and filling that
spot with a director of Taconic's choosing.
The hedge fund owns about 6.9% of WPX stock and is the company's
second-largest institutional shareholder.
WPX shares are up about 6.8% year to date despite the company's
- which was spun off from Williams Cos (
) in 2011 - reporting net losses in each of its past seven
quarters. The moderate gains in share prices, however, were not
enough to save Ralph Hill's jobs as chief executive at the company,
which announced Hill's departure after 32 years at WPX on Tuesday
The company said the new board member also will sit on the
search committee for a new CEO.
In other sector news,
(+) SYNM, (+35.4%) Accepts a stock swap worth up to $49 million
from Renewable Energy Group Inc. (
) for substantially all of its assets, including a 75-million
gallon bio-diesel facility in Geismar, La., in exchange for 3.796
mln REGI shares.
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