The S&P Energy Index (-0.7%) is lower this morning and is currently lagging weakness in the broader market (-0.5%).
Sector News: GLBL (+51%) shares are sharply higher after it announced a merger agreement with TKPPY (+1%) for $8.00 per share. QRE (+3.6%) announced a deal to acquire oil and natural gas properties from Quantum Resources Fund for $577 million. The company said it is expected to be immediately accretive to Distributable Cash Flow per unit. GPRE (+3.2%) repurchased 3.5 million shares of common stock from largest shareholder at $8/share.
Broker Calls: SU (-1.5%) was downgraded to Market Perform from Outperform at BMO Capital. ECA (-0.2%) was upgraded to Outperform from Market Perform at BMO Capital. NOV (-0.6%) was upgraded to Focus Stock at Howard Weil. MPC (+0.7%) was initiated with an Outperform at Macquarie.






