This #$%$ my plans .Oh well .Might end up being just ruse ? When did management know this information and why didn't they let the public in on it ? Ill wait on the side lines and see how this plays out ?
HOUSTON, May 7 (Reuters) - SandRidge Energy Inc is the target of federal grand jury probe concerning violations of antitrust law related to the buying and leasing of oil and gas properties, the company said in a regulatory filing on Thursday.
The Oklahoma company said the transactions that are subject to the government's inquiry date from 2012 and prior years, according to the filing with the U.S. Securities and Exchange Commission.
SandRidge said it is continuing to respond to the government's requests in connection with the investigation.
(Reporting by Anna Driver; Editing by Terry Wade
Headline news section .
Insight from TheStreet's Research Team:
SandRidge Energy is a part of David Peltier's Stocks Under $10 Portfolio. Here is what Dave had to say about the stock in a recent alert:
SandRidge Energy (SD:NYSE) shares were trading about 5% lower at midday, after management announced mixed first-quarter results late Thursday. This Alert is an update on the company, and we're not recommending any trades for the model portfolio.
SandRidge had break-even net income in the quarter, which was a penny ahead of expectations. On the other hand, revenue fell by 51% from a year ago, to $215.3 million, and short of consensus analyst estimates.
Core production increased by 36% in the period, even though management continues to cut costs. SandRidge reduced its rig count by 80% in the quarter and will reduce quarterly capital spending to $100 million by the fourth quarter. The company has also hedged the remainder of its expected production for 2015 and has sufficient near-term liquidity, with no debt maturities coming due until the end of the decade.
We maintain our Two rating on the stock, which recently changed hands around $1.70. We believe that SandRidge can trade back up through $2 in the coming months.
David Peltier & TheStreet Research Team
I thought volume would have been much higher than 6.350 mil @ 11.00am.A lot of S/L tripped .Short term it looks $1.59 is some support building ? But who really knows with all the shares shorted ? BTW anyone have the split of Gas/Oil with SD tia
HK investors are facing a R/S 1-5 shortly is why they are at the levels their at ."SD is a good day trade for now until news of production and rig count is back up" agree
he has been a jerk with his postings thats for sure BUT he has also been right .maybe just lucky ? But still spot on .
DALLAS, TX--(Marketwired - May 4, 2015) - Magnum Hunter Resources Corporation (NYSE: MHR) (NYSE MKT: MHR.PRC) (NYSE MKT: MHR.PRD) (NYSE MKT: MHR.PRE) (the "Company" or "Magnum Hunter") will host a conference call on Monday, May 11, 2015, at 9:00 a.m. CT, to discuss its quarter ended March 31, 2015 financial and operating results. The Company will issue a press release announcing these financial and operating results before the U.S. financial markets open on the morning of the conference call. On the conference call, the Company will discuss these financial and operating results as well as other corporate related matters. During the conference call, following the Company's presentation, the Company will allow for a brief Q & A session with equity research analysts.
When an investor sells an ETF, a short or long term gain or loss is recognized and taxable just as it would be with the sale of an actual stock or bond. Investors in tax-deferred accounts such as IRAs don't need to worry about these tax advantages because they won't start paying taxes on those investments until they hit retirement age.
After steadily declining for most of the year, natural gas prices are finally bouncing back, with the commodity-related exchange traded funds testing its short-term resistance.
On Friday, the United States Natural Gas Fund (UNG) was up 2.3% and the iPath Dow Jones-UBS Natural Gas Total Return Sub-Index ETN (GAZ) was 3.5% higher after both exchange traded products surged over 5% Thursday. UNG is now trading back above its 50-day simple moving average and GAZ briefly traded above its short-term trend line Friday.
Meanwhile, the VelocityShares 3x Long Natural Gas ETN (UGAZ) , which tries to reflect the three times leveraged or 300% performance of natgas futures, rose 6.6% Friday after a 16.4% gain Thursday. Additionally, the ProShares Ultra Bloomberg Natural Gas (BOIL) , which takes the two times or 200% daily performance of natural gas, rose 4.5% after a 10.3% pop Thursday.
Jonathan Krinsky, market technician at MKM Partners, argues that the natural gas market could continue to rally on seasonal factors and a potential short-squeeze among an overly bearish investment base, projecting a potential natural gas target of $3 per million British thermal units, reports Amanda Diaz for CNBC.
NYMEX natural gas futures were 1.2% higher Friday, trading around $2.78 per Btu.
“While the structural chart is firmly bearish, we think a countertrend rally could be underway,” Krinsky, market technician at MKM Partners, said on CNBC.
Specifically, Krinsky pointed to a so-called momentum divergence in the natural gas charts. The natural gas market has been trading in a downtrend, and a divergence occurs when the price makes lower lows without significant decline in its momentum indicator – looking at the relative strength in a weekly chart of UNG, the relative strength index readings have been relatively flat. When a divergence manifests, there is a high probability of a price retracement, or temporary reversal in the direction of a security’s price that is counter to its prevailin
Headline news section now
Form 8-K for NORANDA ALUMINUM HOLDING CORP
Other Events, Financial Statements and Exhibits
Item 8.01 Other Events.
On April 30, 2015, Noranda Aluminum Holding Corporation ("Noranda" or the "Company") reported that the Missouri Public Service Commission has established a new and reduced electricity rate structure for the Company's aluminum smelter in New Madrid, Missouri.
"Securing a reduced rate for our single largest cost is an important milestone in our on-going journey to structurally improve our cost profile," said Layle K. "Kip" Smith, Noranda's President and CEO. "At full production, the new rate is expected to reduce New Madrid's annual power cost by approximately $17 to $25 million or $0.03 to $0.04 per pound of primary aluminum sold. As part of our comprehensive productivity program, we expect these structural savings to make a meaningful contribution to our near-term performance and cash flow, and to enhance our ability to operate the business sustainably across the aluminum cycle."
The lower rate becomes effective on or around June 1, 2015 and carries a term of at least three years.
A copy of the press release announcing the reduced rate structure is attached hereto as Exhibit 99.1 and incorporated by reference herein in its entirety.