Eagle & Beagle for June 3

Eagle & Beagle for June 3
by Don Mecoy Published: June 3, 2012
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EAGLE & BEAGLE

Eagle

Thank goodness for our eagle that led the local flock with its low-altitude flight last week — nobody else even got off the ground.

PostRock Energy Corp. cobbled together a 6.7 percent gain last week. That represented just a 13-cent advance on the price of PSTR shares, which closed at a modest $2.07.

Although the entire week's trading volume for PostRock wouldn't make a dent in the price of one of our major players, we salute the business for being one of just two publicly traded Oklahoma companies to post a gain last week.

Meanwhile, PostRock announced that lower natural gas prices have limited its liquidity, although another company soon may be obligated to buy $7.5 million in PSTR equity.

Beagle

In a trading week that ended with the year's worst day — a day that erased all of the year's gains from major indexes, there were several potential beagles.

At the bottom of the list was Syntroleum Corp., a Tulsa-based producer of synthetic fuels.

SYNM shares slid 19.3 percent to close at 61 cents, a new 52-week low for a stock that has failed to top $2 in the past year.

The company disclosed that it has been sued for infringing on a patent regarding a fuel composition for diesel engines.

The company said it has not infringed on the patent, will “vigorously” defend its position and expects to prevail.

Eagle & Beagle is a weekly look at the state's high-performing (eagle) and low-performing (beagle) by Business Writer Don Mecoy.


by Don Mecoy
Business Editor
Business Editor Don Mecoy has covered business news for more than a decade after earlier working on The Oklahoman's city, state and metro news desks, including a stint as city editor. He has won state and regional journalism awards for business,...
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