Energy stocks are slightly lower with the NYSE Energy Sector Index sinking 0.2% 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.
Copyright (C) 2014 MTNewswires.com. All rights reserved. Unauthorized reproduction is strictly prohibited.