Markets

Sector Update: Energy

Energy stocks were ending moderately lower today with the NYSE Energy Sector Index sinking about 0.4% while shares of energy companies in the S&P 500 were down about 0.1% as a group.

In company news, Diamond Offshore Drilling Inc. ( DO ) was lower in late Wednesday trade after a customer said it was terminating its contract for a mid-water semisubmersible rig.

In scrapping the contract, Norwegian energy giant Statoil ASA ( STO ) cited Statoil unspecified technical issues.

DO shares were down 3.6% at $47.79 each shortly before the closing bell, just 3 cents off its session low. The stock has a 52-week range of $43.69 to $73.00 a share, sliding about 26% in value over the past 12 months.

In other sector news,

(+) DVR, Sells its surface diving fleet in the Gulf of Mexico to an unidentified private company for $18.5 mln and a a 19.9% equity stake in the entity acquiring the assets. The buyer also signs a multi-year pact to provide surface diving services to DVR.

(-) SYNM, Discloses plans to voluntarily delist its shares from the Nasdaq stock market following the market close on Friday, June 6. The follows the snythetic-fuels producer selling substantially all of its assets to Renewable Energy Group ( REGI ).

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Copyright (C) 2016 MTNewswires.com. All rights reserved. Unauthorized reproduction is strictly prohibited.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

In This Story

REGI

Other Topics

Commodities

Latest Markets Videos

    MTNewswires

    Founded in 1999, MT Newswires (formerly known as Midnight Trader) is a leading provider of original source, multi-asset class, real-time, global financial news and information to most of the largest banks, brokerage firms and professional market data, trading & research applications in North America.

    Learn More