Stocks rose Tuesday, with the S&P 500 squeezing out a record high, as financial specialists watched talks in the middle of Greece and its loan bosses.
The S&P 500 increased 3.35 points, or 0.2%, to 2100.34, its second record complete in as numerous sessions.
The Dow Jones Industrial Average increased 28.23, or 0.2%, to 18047.58, another 2015 record, yet barely short of its record-breaking high of 18053.71 arrived at late December.
Energy stocks are on the ascent after crude oil set a base on Jan. 29, which helps oil exploration and manufacturing organizations that have corner stores. On the off chance that oil affirms a specialized base this Friday, the incorporated oil organizations will pick up energy.
It was a week where oil costs kept afloat mentally imperative $50-a-barrel imprint and common gas recouped from its least level in 32 months.
Insights about some real gainers from basic material segment, amid Wednesday’s exchange are depicted underneath:
Lucas Energy, Inc. (NYSE:LEI)’s shares skyrocketed 37.50% and led the share to close at $0.44, soon after an independent oil and gas company with operations in Texas, declared anticipated development activities and its fiscal 2015 third quarter results for the three month period ending December 31, 2014.
For the fiscal 2015 third quarter, Lucas stated a net loss of $1.3 million, or ($0.04) per diluted share, contrast to a $1.1 million loss, or a loss of ($0.04) per diluted share, in the same quarter last year and a sequential loss of $1.5 million, or a loss of ($0.04) per diluted share, in the fiscal second quarter of 2015. Our recent results were negatively influenced by certain non-recurring items primarily related to severance costs associated with recent staff reductions and other restructuring initiatives. Net operating proceeds in the fiscal 2015 third quarter were $0.7 million, all of which were derived from crude oil sales, contrast to proceeds of $1.4 million in the fiscal 2014 third quarter and $1.0 million in the sequential fiscal 2015 second quarter.
Lucas Energy, Inc. (NYSE:LEI), operates as an independent oil and gas company in Texas. It is engaged in the attainment and development of crude oil and natural gas from various formations, counting the Austin Chalk, Eagle Ford, and Buda formations located primarily in Gonzales, Wilson, Karnes, and Atascosa counties south of the city of San Antonio; and the Eaglebine, Buda, and Glen Rose formations located in Leon and Madison counties north of the city of Houston, Texas. As of March 31, 2014, the company had leasehold interests in about 17,628 gross acres.
Shares of MagneGas Corporation (NASDAQ:MNGA), jumped nearly 26.37% and closed at $0.91, soon after an alternative energy company, declared that one of the five largest electric utilities in the U.S. has approved MagneGas2® fuel to replace acetylene at their power and repair facilities. The Company has elected to keep the name of the utility confidential due to concerns over competitive interference during the product roll-out period which will occur over the next several months. Safety and productivity are of paramount importance to this utility, one of the largest electric holding companies in the United States. The utility tested MagneGas2® for over one year and found that the cut speed was faster than acetylene and the pre-heat time was shorter, which could lead to higher productivity. In addition, the utility specified the superior safety aspects of MagneGas2® and the significantly lower environmental influence of using a fuel produced from a renewable source.
Founded in 2007, Tampa-based MagneGas Corporation (NASDAQ:MNGA), is a technology Company that counts among its inventions, a patented process that converts liquid waste into hydrogen based fuels. The Company presently sells MagneGas® into the metal working market as a replacement to acetylene. It is also selling equipment for the sterilization of bio-contaminated liquid waste for various industrial and agricultural markets.
Gevo, Inc. (NASDAQ:GEVO), surged 22.27% to close at $0.28, soon after a consortium of leading organizations from the recreational marine industry has accomplished more than four years of testing, Gevo’s (GEVO) renewable isobutanol in marine engines. Thousands of hours of testing showed that isobutanol blends of up to 16.1% can be used in marine engines without deterioration of engine or boat performance. The tests were performed in partnership with the National Marine Manufacturers Association (NMMA), the American Boat and Yacht Council (ABYC) and several engine and boat manufacturers across the industry. The testing was also supported by The US Department of Energy (DOE), Office of Energy Efficiency and Renewable Energy (EERE), and Argonne National Laboratory (ANL).
The consortium tested many engine technologies from several engine and boat manufacturers, and comprised of measurements of gaseous and particulate engine exhaust emissions, combustion analysis, cold start, run ability, durability and more. No engine exhaust emissions failures, durability issues or run ability issues were practiced during the multi-year test program.
Gevo, Inc. (NASDAQ:GEVO), is a leading renewable technology, chemical products, and next generation biofuels company. Gevo has developed proprietary technology that uses a combination of synthetic biology, metabolic engineering, chemistry and chemical engineering to focus primarily on the production of isobutanol, in addition to related products from renewable feedstocks.
Shares of the Niska Gas Storage Partners LLC (NYSE:NKA), gained 19.05% & closed at $2.00, as a growth-oriented midstream natural gas services provider, on February 2, stated its financial results for the quarter and nine months ended December 31, 2014. The Company also offered an update on the current business environment and declared the suspension of distributions on its ordinary units.
Financial Results:
Adjusted EBITDA for Niska`s quarter ended December 31, 2014 was $9.4 million, contrast to $37.0 million for the quarter ended December 31, 2013. Adjusted EBITDA was $48.0 million for the nine months ended December 31, 2014, contrast to $84.4 million for the nine months ended December 31, 2013. Cash Accessible for Distribution was negative $4.0 million and positive $9.6 million for the quarter and nine months ended December 31, 2014, respectively, contrast to $20.5 million and $35.7 million for the quarter and nine months ended December 31, 2013, respectively. Adjusted EBITDA and Cash Accessible for Distribution for the quarter and nine months ended December 31, 2014 comprised of benefits of $4.4 million and $8.8 million, respectively, related to inventory write-downs. Not including the benefits of inventory write downs, Adjusted EBITDA for the quarter and nine months ended December 31, 2014 was $5.0 million and $39.2 million, respectively, and Cash Accessible for Distribution was negative $8.4 million and positive $0.8 million, respectively.
Niska Gas Storage Partners LLC (NYSE:NKA), is a growth-oriented midstream natural gas services provider with operations focused on owning, operating, developing and acquiring midstream energy assets in the United States and Canada.
