Monday, July 9, 2012

Stocks Making Headlines (COG, GE, TPC, PNG, LNKD)

Cabot Oil & Gas Corporation (NYSE:COG) stock gained 2% to $40.30 in the early hour after the shares of the company was upgraded by equities research analysts at Goldman Sachs from a “neutral” rating to a “buy” rating in a research note issued to investors today.

Additionally, analysts at Zacks restated a neutral rating on shares of Cabot in a research note to investors on June 5th. They now have a $33.00 price target on the stock.

General Electric Company (NYSE:GE) stock fell 0.02% to $20 in the morning hour after Duro Felguera SA announced its participation in collaboration with General Electric and a local entity Fainser in a turn-key project to build a gas-turbine electric power plant in Vuelta de Obligado, Argentina. The project represents a total investment exceeding USD 700 million, from which more than EUR 300 million is for Duro Felguera.

Perini Corporation (NYSE:TPC) shares climbed 0.79% to $12.83 in the early hour after the company announced that it recently has been awarded approximately $2 billion in new work and over $890 million in pending awards. Currently, the company is actively working to negotiate and bring the new work under formal contract over the next few months.

PAA Natural Gas Storage, L.P. (NYSE:PNG) shares gained 0.25% to $17.92 in the morning hour after the company announced a quarterly cash distribution of $0.3575 per unit ($1.43 per unit on an annualized basis) on all of its outstanding common and Series A subordinated units. The distribution will be payable on August 14, 2012, to holders of record of such units at the close of business on August 3, 2012.

Linkedin Corporation (NYSE:LNKD) stock declined 5.52% to $102.85 in the early hour. On June 29, 2012, LinkedIn said posts from Twitter Inc. will no longer be displayed on its site, as the company encourages users to visit its own services. LinkedIn users had been able to show the posts, known as tweets, on their accounts since 2009. The company said that members can still send updates to Twitter from their LinkedIn accounts by checking a box for tweets when they compose updates.

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