Crude is off a few dollars....duh! The mlp index is up a fraction....double duh! Overall Dow up 100 points but its mostly big energy..the rest of the tape looks suspect so i will expect attempts to drive them down in the afternoon.
Penn Virginia Holdings (PVG) is up 1 and some change as the biggest winner. Atlas Resource (ATN) Linn Energy (LINE) Spectra Energy Partners (SEP) Targa Resources (NGLS) Alliance Resource (ARLP) among the fractional winners.
Boardwalk (BWP) Transmontiagne (TLP) Buckeye (BPL) and Boardwalk (BWP) among the fractional losers but nothing on volume or news.
92 degrees at noontime...heading for near 100!
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2 comments:
BPL has been tanking for the last couple of weeks. Does anyone have any clues as to what is going on?
Thanks
Looks like this is what they're up to:
June 9, 2008 5:30 PM ET advertisement
Article tools E-mail this article Print-friendly version Discuss this articleStocks mentioned in this articleBoardwalk Pipeline Partners LP (BWP) Stock Quote, Chart, News, Add to WatchlistRelated topicsStock OfferingsRelated newsMarket Report -- In Play (BWP)Boardwalk Announces Offering of 10,000,000 Common UnitsBoardwalk Announces Additional Commitments on Gulf CrossingBoardwalk Pipeline Announces Commencement of Service on Its Southeast Expansion and Completion of Its Tallulah Compressor StationS&P 500 Leaders & Laggards: Alcoa, WaMu
All Associated Press newsHOUSTON (AP) - Natural gas transmission and storage company Boardwalk Pipeline Partners LP said Monday it plans to sell 10 million shares of common stock representing limited partner interests.
The company did not list an offering price. Shares fell 91 cents, or 3.4 percent, to $26 in after-hours trading, from their close at $26.91 during the regular session.
Boardwalk had about 90.7 million shares outstanding as of March 31.
Boardwalk said it will grant the underwriters an option to buy up to 1.5 million additional shares to cover over-allotments. Citi, Lehman Brothers Inc., Morgan Stanley & Co. and UBS Investment Bank are joint book-running managers on the offering.
Proceeds will be used to fund part of the company's planned expansion projects.
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