Broader markets closed trading on Tuesday, June 12, with mixed results, and most energy equities followed suit.
The Dow Jones Industrial Average decreased 0.01% after a mostly down day to finish at 25,320.73, while the S&P 500 added 0.17% to 2,786.85.
Tesla Inc. shares advanced 3.21% to reach $342.77 at the end of a robust session after CEO Elon Musk confirmed via a tweet that the company is slashing its workforce by about 9% as part of an organizational restructuring.
Among top gainers in the independent power production sector were TerraForm Power Inc., First Solar Inc. and Pattern Energy Group Inc. TerraForm Power shares moved up 4.12% to end a heavy session at $11.36. First Solar stock spiked 3.92% on nearly four times average volume to finish at $53.85, and Pattern Energy wrapped a below-average session growing 3.43% to $18.70.
The Committee on Foreign Investment in the United States has determined that the acquisition of 8point3 Energy Partners LP by asset manager Capital Dynamics Inc. has no unresolved national security concerns. 8point3 Energy units were up 2.14% to $12.43 at the close of a brisk session.
Vivint Solar Inc. stock rose 3.80% to finish a strong session at $4.10 after the close of its $811 million debt financing of solar asset backed notes comprised of two separate transactions, lowering total credit spreads by approximately 160 basis points.
In the electric and diversified utilities sector, CenterPoint Energy Inc. shares rose 2.74% to end an average session at $25.91, and Dominion Energy Inc. stock hiked 2.66% to close at $64.89 on high volume.
NiSource Inc. shares climbed 1.98% to wrap a slow session at $23.73. The company closed the $760.2 million cash tender offer for three series of outstanding notes, which was funded by the private placements of $350 million of 3.65% notes due 2023 and 400,000 shares of 5.65% series A fixed-rate reset cumulative redeemable perpetual preferred shares.
The S&P 500 Utilities Index climbed 1.29% to close the day at 247.30.
Oil major Schlumberger Ltd. saw its shares slip 1.82% to finish at $68.60 on high volume. The oilfield services giant expects second-quarter earnings per share to climb between 10% and 15%, with international markets driving confidence in the earnings outlook.
Apache Corp. shares gave away 4.13% to close at $42.76 on above-average volume, and Marathon Petroleum Corp. stock dropped 2.97% to finish a strong session at $75.46.
ConocoPhillips stock inched down 1.50% to finish a slightly above-average session at $69.43. The company plans to maintain a diverse and balanced operating portfolio around the globe as the demand for oil and natural gas in the U.S. is expected to grow before 2020.
The S&P 500 Energy Index retreated 0.75% to 562.79, and the Alerian MLP Index lost 0.10% finished at 273.41.
Market prices and index values are current as of the time of publication and are subject to change.
