IOC, PKG, TIN, FST, SD, BPFH, NFLX Popular Stocks
U.S. stocks traded higher Tuesday, as the Dow Jones Industrial Average gained 137 points to 10482, the S&P 500 rose 14 points to 1110 and the Nasdaq Composite Index climbed 33 points to 2178.
InterOil Corp. (NYSE:IOC, $61.25, +$5.35, 9.57%) said one of its wells in Papua New Guinea flowed at a world-record rate. The energy company said its Antelope-2 well flowed at 705 million cubic feet of natural gas per day and produced 11,200 barrels of condensate per day, for a total of 129,000 barrels of oil equivalent per day.
Shares of Packaging Corp. of America (NYSE:PKG, $21.08, +$1.16, 5.82%) rose Tuesday after analysts at Credit Suisse put the stock on their U.S. Focus List. The analysts said the paper-products company is a pure containerboard play that offers investors “an underappreciated pricing power and margin expansion in 2010.” Rival Temple-Inland Inc. (NYSE:TIN, $19.19, +$1.20, 6.67%) was also rising.
Oil and natural-gas company Forest Oil Corp. (NYSE:FST, $20.05, +$1.73, 9.44%) said it agreed to sell to SandRidge Energy Inc. (NYSE:SD, $9.01, -$0.37, -3.95%) the rest of its Permian Basin properties in West Texas and New Mexico for about $800 million.
Boston Private Financial Holdings Inc. (NASDAQ:BPFH, $5.23, +$0.54, 11.51%) was upgraded to buy from neutral by SunTrust. The firm said though the company’s earnings power is weaker than it likes, the company’s solid capital and liquidity create opportunities to further improve earnings.
Netflix Inc. (NASDAQ:NFLX, $58.30, -$0.33, -0.56%) was cut to neutral from buy by Merriman Curhan Ford. The firm the downgrade was based on the potential near-term first-quarter earnings impact from the expected ramp in Netflix subscribers around the holiday season, which stems from the price cuts on the Microsoft Xbox and its streaming service on the Sony PS3.
Related Posts
