NICE UP DAY YESTERDAY
NOW FOR SOME FOLLOWTHROUGH!
One day does not an uptrend make so we need to see some more upside today to add to the nearly 5 point gain on the index. It was certainly long overdue and in fact we need to play some catch up in here to gain any sort of confidence. Still 1 to 2 point gains in some of these yesterday is at least an indication that these issues can recover lost ground rather quickly given the right circumstances.
Watch the reactions of Boardwalk(BWP) and Teppco (TPP) as both companies priced some debt last night. Teppco priced long term debt at what looks like some favorable rates. Boardwalk did a private placement of senior notes. Given the credit conditions a favorable reaction could be a sign that at least at some level the sieze up in credit conditions may be improving for mlps. Boardwalk also getting an upgrade to outperform from Morgan Keegan. Second upgrade for this issue in the last week.
No other headlines that i could see though it is possible i missed something. I'm blogging from a friend's computer this morning in beautiful West Palm Beach where it is a crisp 53 degrees this morning under a sunny sky...but better than the 20s back in NY.
I've taken care of the ad issue but it may take 24 hrs or so for it to take hold. Stock futures are stronger this morning as last week's bottom looks more and more like "the" bottom and not "a" bottom.
joseph cioffi's Source Page - Associated Content
9 comments:
Teppco has an investor/analyst meeting in NYC at 1pm today.
ETP issuing 5-yr, 10-yr, and 30-yr notes getting priced today
The credit markets are clearly open for MLP's...What is the problem then? Perception that there will be problems???
We need some MLP M&A to really light a fire!
TPP ($1b) and ETP ($1.5b) lining up for the same strategy...selling LT notes versus using bank lines.
Smart move...and should be an indicator that MLPs will be well financed moving forward and won't be subject to the whims of the banks.
I would think long-term this strengthens the MLP group more so than even past hey-days.
Good luck all. MLPs have cash, cash flow, increasing business, etc. They are the cream of the crop of "safe" growing businesses.
Any comment on SPH and NS compared to other MLP's.
I'm new at this thanks to inheriting the SPH and NS.
I noticed the NS volume tripled today.
Cramer gave NS a "thumbs up" on his tv show the other day.
This is the most encouraging AMZ tape that I have seen since late in 2007 - it is outperforming the S&P for the third day in a row.
SPH also got a favorable mention from Cramer recently on tv. I don't know if that's a good thing or a bad thing.
looks like they juiced NS a bot in anticipation of the share offering...a lot of the MLPs are doing alternative financing to address the credit crunch.
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