NOW THIS IS A ROUND TRIP!

Atlas Pipeline Partners (APL) and Atlas Holding (AHD) owners will be a few points happier this morning thanks to Chevron (CVX). Chevron is buying Atlas Energy (ATLS) which holds a stake in Atlas Holdings (AHD). ATLS owners are getting 38 in cash plus the shares of AHD that ATLS holds will be distributed to shareholders. Meanwhile Atas Pipeline Partners (APL) is selling assets to ATLS which they say will take the distribution on APL to 45 to 50 cents next quarter. Its all wonderfully complicated but the bottom line is that ATLS is up 11 bucks in the premarket, APL is up 3 dollars and AHD is up 2.50! Nice item to wake up to if your long. And it brings APL about half way back to where it was back in 2007 when the stock was in the 40s.

We have some earnings news this morning on the tape. Energy Transfer Partners (ETP) announces earnings along with Markwest (MWE) who increased distributable cash flow guidance. Regency Partners (RGNC) is also in the earnings parade this morning.

MLPS closed at another all time high yesterday and are set to open higher this morning. I would think the ATLS, Chevron deal will height interest in anything Marcellus Shale today so i imagine those stocks will all open higher. Nat gas has been in rally mode and is trading over 4.10 this morning. Rates are a little lower as the monthly bond auction continues. There is an other 30 year auction this week and demand will be looked at closely after what happened last month when they held an auction and no one showed up. Stock futures are up a little pre open. Crude is higher along with the euro markets which are all up.