Top Energy Stocks
Energy stocks pared some of their earlier declines in afternoon trade, with the NYSE Energy Sector Index sinking over 0.5% while shares of energy companies in the S&P 500 were down about 0.2% as a group. Crude oil for March delivery settled 9 cents lower at $53.11 per barrel while March natural gas futures rose 2 cents to $2.93 per 1 million BTU.
In company news, Centrus Energy ( LEU ) has turned lower this afternoon, giving back an early advance that followed the uranium miner last night saying it has successfully settled its private exchange offer with bondholders owning 87.4% of its 8.0% PIK toggle notes due 2019/2024 agreeing to tender their notes.
Bondholders received up to $85 million of the company's new 8.25% senior secured notes due 2027 and $120 million of its 7.5% cumulative redeemable preferred stock in addition to $30 million in cash. The company said the deal has significantly strengthened its financial position, reducing the face amount of its outstanding long-term debt by 56%.
LEU shares were down slightly almost 3% at $6.22 each, drifting south throughout today's session following an early peak at $6.59 a share.
In other sector news,
(+) FANG, Adjusted Q4 net income of $0.90 per share beats Capital IQ consensus by $0.37 per share. Revenue rises 61.9% year over year to $185 mln, also surpassing the $164.63 mln consensus.
(-) INT, Non-GAAP Q4 EPS of $0.36 was down from $0.73 per share during same quarter last year and lags Street view by $0.24 per share. Revenue climbs 15.7% over year-ago levels to $7.79 bln, topping the $7.47 bln consensus.
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