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Thursday, November 06, 2008

Wachovia downgrades Eagle Rock Energy Partners (EROC) to market perform from outperform.

Earnings are out from Linn Energy (LINE) and Global Partners (GLP). Linn has a coverage ratio of 1.14 and overall numbers look pretty good.

Also add Williams Partners (WPZ) and Genesis (GEL) to the list of companies reporting this morning.

Just an ugly day otherwise with the mlp index down 12 points and the dow down 450.


Anonymous said...

7:47AM El Paso Pipline Partners misses by $0.02, misses on revs (EPB) 18.11 : Reports Q3 (Sep) earnings of $0.29 per share, $0.02 worse than the First Call consensus of $0.31; revenues rose 25.7% year/year to $34.7 mln vs the $36 mln consensus.


Anonymous said...

The AMZ is down 12 pts on the day. That's ugly. So is this:


Anonymous said...

It looks like we're far from the "bottom" because the market is still selling off hard on any bad news.

Market bottoms happen when there is no reaction to bad news.

Who didn't expect that there would lousy retail sales?

Who didn't expect that there would be lousy jobless numbers?

With this and a lot of bad news already out, and much more bad news to come expected... when will all this be priced in the market?

Nightmare senario for Las Vegas Sands.

Though not a MLP, LVS is highly leveraged, and shows why leveraged vehicles are at credit risk in this market.

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Las Vegas Sands may miss covenant requirements
Thursday November 6, 11:55 am ET
By Michelle Chapman, AP Business Writer
Las Vegas Sands in jeopardy of missing some financial covenant requirements

NEW YORK (AP) -- Casino operator Las Vegas Sands Corp. said Thursday that it is in jeopardy of missing certain financial covenant requirements and needs to raise more capital.
Shares of Las Vegas Sands plunged $4.70, or 40.3 percent, to $6.96 in midday trading. Over the past year, the stock has traded between $4.32 and $122.96.


Anonymous said...


I don't think it's that people weren't expecting lousy retail sales and jobless numbers. I honestly believe the election finally arrived and somehow caught everybody by surprise because we've all been distracted by the global financial quagmire.

"A thing long expected takes the form of the unexpected when at last it comes." - Mark Twain