Cheniere Energy Partners LP(NYSEAMEX:CQP) stock declined 7.12% to $24.38 after the company said that it is launching an offering for 8 million of its common units representing limited partner interests in an underwritten public offering. The company said it plans to use the net proceeds from the offering to repay a portion of the $550 million principal amount outstanding of the 7.25% Senior Secured Notes due November 2013 issued by its subsidiary Sabine Pass LNG, L.P., and, to the extent not so used, for general business purposes.
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Norfolk Southern Corp.(NYSE:NSC) shares fell 6.99% to $67.61 after the company announced that for the third quarter of 2012, it expects earnings to be in the range of $1.18 to $1.25 per diluted share. Analysts are expecting the Company to report $1.63 for the third quarter of 2012. The 52 week trading range for the company is $57.57 - $78.50. The shares of the company declined 9% in the last one year.
Denbury Resources Inc.(NYSE:DNR) shares increased 2.92% to $17.21 after the company has agreed to sell its Bakken shale assets in North Dakota and Montana to Exxon Mobil Corp. (XOM) and its subsidiary XTO Energy Inc. The company noted that the sale will enable it to focus on CO2 enhanced oil recovery or EOR, which it believes offers one of the most compelling rates of return in the oil and gas industry.
Uranium Resources, Inc.(NASDAQ:URRE) stock dropped 6.78% to $0.543 after the company announced that its President, Chief Executive Officer, Chief Operating Officer and Director, Donald C. Ewigleben, tendered his resignation effective September 28, 2012, to pursue other opportunities. The Board of Directors has named current Board member Terence J. Cryan as Interim President and CEO. The Board will immediately begin a search for a replacement CEO.
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Bank of America Corp(NYSE:BAC) stock fell 1.40% to $9.16 after the company is planning to cut 16,000 jobs by year end as it speeds up a company-wide cost-cutting initiative amid declining revenues.