IS TODAY THE DAY FOR ALL TIME HIGHS?
GENERAL MARINE SOARS ON SPECIAL DIVIDEND!
AND MORE EARNINGS NEWS.
The MLP index begins the morning just pennies within its alltime high after a reversal and up close yesterday. Will today be the day when we break out above 300 and start another up leg?
Unless there is something out there and as long as the overall market continues to move sideways to higher...i think today indeed could be the day.
Meanwhile Duke Midstream (DPM) came out with earnings numbers last night which look good on the surface. We'll see what the market says shortly. If its buy the rumour sell the news the logical pullback spot would be in the high 35 low 36 area. Also last night General Marine (GMR) which i don't often mention was up 4 dollars after the close as it came out with earnings but more importantly announced a special 15 dollar dividend! So we know that's our big winner for the day.
No other breaking news this morning and so far no upgrades or downgrades so we await another open. Crude is a little lower ahead of the supply numbers at 10:30am. Natgas is a little lower as well...also awaiting supply numbers.
joseph cioffi's Source Page - Associated Content
2 comments:
Why do you suppose GMR is up only $3 with the announcement of the $15 special div ?
is the dividend being paid with cash on hand? Are they borrowing money to pay the dividend? Or is the market just missing something? Up another 70 cents this friday morning to 44. The stock has moved from the mid 30s to 44 so half the 15 bucks is in there. It may climb some more before the ex-dividend date.
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