Good Morning!

Sorry for the late start but we have a takeover this morning of Pacific Energy Partners (PPX) by Plains All American (PAA) in a stock swap which has given a nice pop in PPX + 2 and change and a 50 cent gain in PAO. Plains says its yearly distribution will be 3.2o. Valero LP is up 50 cents perhaps in some speculation that they may buy something soon (my guess here) and i would think that this would light a fire under others in the group but the market tone which is tentative at best probably holding them back. But lets see how the day evolves. The group is mixed at best right now. Williams Partners is down 1 and change Natural Resource Partners is down 76 cents...they are the 2 biggest losers.

No other drivers this morning at least so far.