Eagle & Beagle for May 20

Eagle & Beagle for May 20
by Don Mecoy Published: May 21, 2012
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Eagle & Beagle

Eagle

We've had some tough weeks before (remember October 2008?), but the last five days produced just two Oklahoma-based companies whose stock rose.

The first was Tulsa-based Educational Development Corp., with its shares adding a mere 9 cents.

That makes us appreciate the 5.8 percent gain of Sonic Corp. even more. With the weather warming, and the market kind of cool on SONC in recent weeks, it was a welcome respite.

The stock added 42 cents last week to close at $7.73.

While shares remain lower than long-term investors like, the summer season and the Oklahoma City's company's plans to boost sales at its drive-ins are encouraging.

Beagle

Among the many local stocks that got battered in recent days, none suffered a greater percentage decline than those of GMX Resources Inc.

Last week's chart of the Oklahoma City energy company had a definite lean to the right.

GMXR shares dropped 29 cents, or 24 percent, last week to close at 91 cents. During Friday's trading, the stock set a new 52-week low of 85 cents.

The company is shifting its exploration and production from natural gas into oil, and has reported some success in that complex process.

However, GMX, like some of its peers, is forced to make the switch while juggling debt. It has converted some senior notes into common stock, which dilutes (and can irk) current shareholders.

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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