Losers

In a report issued Wednesday, the National Petroleum Council (NPC) did not pick any winners or losers for future alternative fuel vehicle technologies. Rather, it said there is a “great deal of uncertainty” as to which individual fuel-vehicle system would overcome technology hurdles to be economically and environmentally attractive by 2050.

After four days of rising at nearly all points, the cash market showed signs of retrenchment Friday. Gainers continued to outnumber losers — but only barely. Quotes continued to rise at most Gulf Coast and Northeast points, where the much anticipated winter storm was just arriving, but softness dominated in the Midcontinent/Midwest and western markets.

The cash market was mixed again Wednesday, but although a majority of points continued to move higher, the division between gainers and losers was much closer than on Tuesday. Higher quotes derived support from a prior-day screen gain of more than 20 cents and the persistent shortfall in Gulf Coast supplies, while cooler weather already occupying or moving into the Northeast, Midwest and South provided a countervailing bearish influence.

The cash market saw both up and down price movement again Friday, but this time the gainers outranked the losers. Support from a prior-day screen gain of nearly 15 cents and moderately strong power generation load across the southern half of the U.S. offset generally mild northern weather and the decline in industrial demand that is typical of weekend periods.

The market was mixed for the second straight day Thursday, but this time more of the price movement was positive than negative. Most points were close to flat again, but rebounds in the previously softer West ranged up to about a dime.

Murphy Oil shares plummeted 7% ($5.70) Friday to $75.45 after the company issued a profit warning. Murphy was among Wall Street’s 10 biggest losers, while most other energy stocks showed small losses or gains. The El Dorado, AR-based company said after the market closed on Thursday that third-quarter earnings will fall short of analysts’ expectations of $1.12 and would probably be between $0.80 to $1 per share.

Atlanta Gas Light was one of the biggest losers among a group of37 LDCs reporting first quarter earnings. AGL’s net income was offa whopping 46% from the first quarter of 1998. PaineWebber notedthe significant drop was due mainly to a change in rate design thattook effect in July 1998 when the company unbundled.