1st
June 1:48pm
Top Volume Losers (BP plc, HAL, Transocean LTD, THC)
Dear PSL members,
Shares of BP plc (ADR) (NYSE:BP) plunged 10.78% to $38.32 as U.S. investors reacted to the London-based oil company’s failure over the long weekend to cap its runaway well in the Gulf of Mexico. Also, the stock was cut to sell from buy by Arbuthnot, which also withdrew its price target on the oil giant.
Halliburton Company (NYSE:HAL) decreased 8.90% to $22.62. The cost of protecting the debt of Halliburton Co against default rose sharply on Tuesday as the threat of an out-of-control Gulf of Mexico oil spill widened. Halliburton’s five-year swaps rose by 27 percent to 98 basis points, according to data from Market Intraday.
Transocean LTD (NYSE:RIG) is one of the biggest loser and is down 7.82% to $52.33. The cost of protecting the debt of Transocean Inc against default rose sharply on Tuesday as the threat of an out-of-control Gulf of Mexico oil spill widened. Transocean’s five-year credit default swaps rose by 38 percent to 347 basis points, according to data from Market Intraday.
Tenet Healthcare Corporation (NYSE:THC) lost 5.59% to $5.40 on a volume of over 4.99 million shares. The stock fell more than 13% in the last one month of trading sessions so far. Tenet Healthcare Corporation is an investor-owned health care services company, which principally operates general hospitals and related ancillary health care businesses.
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Happy trading,
PSL staff, www.PennyStockLive.com
