Why Southwestern Energy, CenturyLink, and Overstock.com Jumped Today
Monday began the week on Wall Street on a positive note, as major benchmarks enjoyed another day of small gains that marked an all-time high for the S&P 500. Historically, now's the time that many start looking for a seasonal Santa Claus rally heading into the end of the year, but a lot this year will depend on what progress Congress makes in passing a tax reform package. Even news of an explosion near the Port Authority in New York City wasn't enough to dampen enthusiasm among investors. Good news from several corners of the economy also helped the overall market, and Southwestern Energy (NYSE: SWN), CenturyLink (NYSE: CTL), and Overstock.com (NASDAQ: OSTK) were among the best performers on the day. Below, we'll look more closely at these stocks to tell you why they did so well.
Shares of Southwestern Energy gained almost 6% on a solid day for the energy sector. Oil prices climbed 1% to come close to the $58-per-barrel level, and natural gas prices were up by an even greater amount on a percentage basis. Southwestern Energy has a concentration in natural-gas-producing assets, and its low production costs have been able to keep the company profitable even at times when many of its competitors are still struggling to break even. Many industry watchers are hopeful that as natural gas export terminals start coming online, it will help pull prices upward, aiding Southwestern Energy and its peers. Yet Southwestern will have to endure plenty of uncertainty before it can hope to regain its huge losses since its peak in 2014.
Image source: Southwestern Energy.
Source: Fool.com
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