EARNINGS FROM LINN AND REGENCY
GLOBAL GETS CUT
AND MLPS AT NEW ALL TIME HIGHS!
Tuesday morning news drivers include earnings from 2 more MLPS, Linn Energy(LINN) and Regency Partners (RGNC) and the market has opened up both stocks higher this morning. The MLP index opens higher by .70 this morning and we have the usual round of fractional gains to start things off. Terra Nitrogen has been in free fall since hitting 99.88 yesterday and is now nearly 17 points below that at 81. You would think this were Amazon.bomb...or something.
Global Partners(GLP) got the downgrade this morning as Lehman goes to equal weight from overweight and RBC leaves Hiland (HLND)at sector perform but takes the stock's target down 2 bucks. Stock is up anyway. The market is now selling off on the earnings news for Linn and Regency...Linn is down and Regency has gone flat. Terra Nitrogen (TNH) is down 7 now at 78 and change.
I'm a little late with the opening post today as i had errands this morning but updates to follow.
joseph cioffi's Source Page - Associated Content
3 comments:
what's up with LINE? Dist. going to 2.28 makes this drop look like an opportunity on yield.
Projections for 2008 seemed in-line if not a slight bump. Anyone know why this dropped on light volume?
Listen to conference call. Distribution coverage ratio lower than they'd like in 1st half 2007, expect improvement 2nd half and '08.
Confirmed distribution increase is on track.
Should be a short-term drop!
The reason for the drop is a result of the large derivative loss. Could someone explain these operations? I am naive regarding these derivatives. They lost $60 million which is huge. Is this a non cash item?
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