Good Morning!
Some cross currents this morning with British Petroleum earnings a disappointment which is impact oil shares early (BP -2..Exxon -.25). That plus a sell-off in crude oil that began late yesterday and continues today. On the other hand 10 year rates are supportive this morning as yields drop...now 4.52%.
No corporate drivers this morning however leftover from last night is a news item from Holly Partners, Holly Energy, and Enbridge because they are joining forces to build a new pipeline to bring oil down from Canada! Also leftover from last night, Atlas America as it announces a 3 for 2 stock split!
As for earnings Teppco has numbers today after the close...and these numbers and the outlook will probably tell us where this company is going...back to 40 or back to 33.
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About Me
- joewxman
- a meteorologist with a knack for trading and investing in MLPS! I also like horse racing, enjoy cigars and a good port wine.
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2 comments:
Joe,
What's your bet on TPP? Up or down?
Carlos
i'm going to guess TPP either stays flat or goes higher. My guess is based on the fact that they already re-affirmed guidance a few weeks ago..and the market usually has a good nose at sniffing out trouble. If they give any indication that the distribution may go up soon...then the stock should rally.
Meanwhile being hurt today as commodities taking a hit and thats pressuring us.
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