Energy stocks are slightly lower with the NYSE Energy Sector
Index slipping 0.1% and the S&P Energy Index down 0.2%. Crude
oil for December delivery is down 6 cents at $85.98 a barrel.
November natural gas is down 6 cents at $3.38 per 1 million BTU.
Among energy ETFs, the U.S. Oil fund is slightly lower while the
U.S. Natural Gas fund is down 1%.
In company news, Cabot Oil & Gas Corporation (
) is up 8% but off a year high hit earlier after the oil and gas
company last night reported Q3 earnings of $0.21 a share, excluding
certain items and beating Wall Street estimates by $0.08. Revenues
climbed 13.3% to $296.87 million but fell $3.48 million short of
estimates. Natural gas production rose 33% over year-ago levels to
66.5 billion cubic feet.
In other sector news,
(+) CRZO, (+3.9%) Named to replace Overseas Shipholding Group (
) in the S&P SmallCap 600 index after the close of trading on
Monday, Oct. 29.
(+) FET, (+0.2%) Announces definitive agreement to acquire
Wireline Solutions LLC., a manufacturer of downhole completion
tools. Terms of the deal were not disclosed.
(+) ENB, (+0.3%) Strikes deal with Enbridge Income Fund (ENF.TO)
transferring crude oil storage, wind and solar power assets valued
at $1.164 billion.
(-) RBN, (-0.6% from near year highs) Continuing to target a Q4
close for its merger with National Oilwell Varco (
) but said deal could slip in 2013 after the Department of Justice
requested additional information prior to signing off on its
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