Eagle & Beagle
It was just an 11-cent gain last week for our eagle.
But that small gain represented a 15.3 percent boost to the low-priced (current 83 cents) shares of Syntroleum Corp., the Tulsa-based company that is seeking to successfully commercialize its proprietary method in turning things other than petroleum products into synthetic fuel to power cars, trucks and jets.
While 83 cents may not sound like much, it's the highest closing price for the stock since May.
On Friday, the company announced some good news: The U.S. Patent & Trademark Office granted Syntroleum's request for a re-examination of a patent related to the composition of diesel fuel. The patent is related to a lawsuit filed in May by a Finnish oil refining and marketing company.
Syntroleum said it will vigorously defend against the complaint and “is confident that its position will be vindicated.”
We've seen a fair amount of wobbling among some of our state-based public companies in this low-volume period that typically closes the summer on Wall Street.