APPROACHING THE 200 DAY
We are about to challenge the 200 day which is very encouraging. Also encouraging is the fact that mlps rallied yesterday while the market sold off. Okay it wasn't the biggest sell off we've seen but it is a divergence and it is something to bear in mind.
We are on an 8 day winning streak and we have another day where the market is going to at least start lower. Lets see if the divergence continues.
Earnings news this morning from Holly Partners (HEP) which beat by a penny and they say they are "very enthusiastic) abouth growth in 2008...whatever that means. Lehman is starting Targa Resources (NGLS) at an overweight and they raise their target price on Alliance Resource Holdings (AHGP) to 30 from 28 and keeps it at an overweight.
joseph cioffi's Source Page - Associated Content
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BreitBurn Announces That It Has Been Informed By Provident Energy Trust That Provident Will Seek to Sell Its Holdings In Various BreitBurn Entities
How bad is this?
NRGY posted Adjusted EBITDA of $71.4 million, DCF of $57.6 million, and net income of $36.9 million ($.57/unit). The briefing.com blurb says this was an earnings miss, stating the consensus was $.74/unit (vs. $.57/unit actual). Aren't the MLP earnings estimates for Adjusted EBIDTA and not net earnings? What am I missing?
Why is CEP being thrown in the trash heap? It is down 5% as I write this.
This can't all be due to the announcement about the new equity issuance can it??
Atleast my "beloved" (cough,choke) LINE is up a fraction of a percent!
WOW!
Bruce
Tough day in MLPville. Giving back alot of the gains from the last few days...Of course KMP is up.
CEP i think is down not just on the share sale but it has been dropping ever since it announced its distribution and there was no increase.
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