Crosstex Energy Inc. shares soared 30%, or $5.85, to $25.35 Tuesday in an initial day of trading on the Nasdaq National Market under the symbol XTXI. Dallas-based Crosstex, which owns and controls the general partner share of midstream operator Crosstex Energy LP with a 54% stake, priced the initial public offering of 2.3 million shares of common stock at $19.50.
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Clean Sweep: Nymex Bears Make it Five in a Row Friday
Adding to a string of losses that would give even a Nasdaq bear cause for celebration, natural gas futures funneled lower last week as traders continued to factor in the impact of seemingly plentiful gas supply in a market that currently lacks much of a seasonal demand component. Taking over where the May contract left off, June closed 7.3 cents lower on Friday at $4.867. With that the June contract continued the trend, adding to its week-long string of losses.
April 30, 2001
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