Oil-services shares rise; Oil indexes lag
The Philadelphia Oil Service Index ($OSX : 279.42, +0.20, +0.1% ) rose 0.3% to 280 points while the Amex Natural Gas Index (XNG 532.46, -4.17, -0.8% ) reversed its earlier gains and headed lower by 0.7% to 533.
The Philadelphia Oil Service Index ($OSX : 279.42, +0.20, +0.1% ) rose 0.3% to 280 points while the Amex Natural Gas Index (XNG 532.46, -4.17, -0.8% ) reversed its earlier gains and headed lower by 0.7% to 533.
The Amex Oil Index (XOI : 1,469.85, -21.41, -1.4% ) dropped 1.5% to 1,469. The CBOE Oil (OIX : 805.81, -11.57, -1.4% ) declined 1.3% to 813. Schlumberger (SLB : 97.20, +3.75, +4.0% ) rallied 2.6% to $95.90 after heralding the start of earnings reports for oil-services stocks. Index
Net income for the quarter rose 47% to $1.26 billion, or $1.02 a share, from $856.9 million, or 69 cents a share, in the year-ago period. Analysts polled by Thomson Financial had been expecting earnings of 95 cents a share.
Noble Energy (NE :102.17, -0.78, -0.8% ) fell 22 cents to $102.73, Transocean (RIG : 109.40, +0.06, +0.1% ) dropped 5 cents to $109.29 and Baker Hughes (BHI : 82.32, -1.42, -1.7% ) fell 1.6% to $82.40.
Exxon Mobil Corp. (XOM : 92.07, -0.22, -0.2% ) hit all-time highs with a rise of 53 cents to $92.83 earlier in the session, only to reverse course and fall into the red, with a loss of 27 cents to $92.02. August crude was little changed, falling 5 cents to $75.87 a barrel. The contract will expire at the end of Friday's session.
Meanwhile, shares of Williams (WMB : 34.78, +0.39, +1.1% ) rose 1.3% to $34.82 after the company set plans to float a master limited partnership and said it would buy back $1 billion in stock.
Via: MarketWatch
by Steve Gelsi
by Steve Gelsi
