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Stocks to Watch: Cheniere, El Paso (Update 2)


NEW YORK ( TheStreet) -- Cheniere Energy Partners (CQP - Get Report) announced that private-equity firm Blackstone (BX) will be investing $2 billion in the company, which would allow it to fund the equity portion of the costs for developing, constructing and placing into service its Sabine Pass, La. natural gas liquefaction plant.

As part of the deal, Blackstone will be buying newly issued Cheniere senior subordinated paid-in-kind units. Debt financing for the liquefaction project should be completed by the end of the first quarter. Construction is expected to begin in the first half of 2012.

Shares of Cheniere were surging 7% to $22.37 in premarket trading Monday.


HSBC (HBC), Europe's biggest bank by market value, said full-year profit rose 28%.

HSBC posted 2011 net profit of $16.8 billion, up from $13.2 billion a year earlier. HSBC said China, India, Malaysia, Brazil and Argentina were the fastest-growing sources of revenue for the bank.

Shares were falling 4.3% to $43.62.


BP's (BP) federal trial over the 2010 Gulf of Mexico oil spill has been delayed for a week to allow more time for settlement talks.

The delay was "for reasons of judicial efficiency and to allow the parties to make further progress in their settlement discussions," said U.S. District Judge Carl Barbier, The Associated Press reported.

Bloomberg said BP and plaintiffs suing over the oil spill are discussing a $14 billion settlement.

Shares were adding 2.3% to $48.06.


Lowe's (LOW - Get Report), the home-improvement retailer, has reported fourth-quarter profit of 29 cents a share on revenue of $11.63 billion compared with the average analyst expectation of earnings of 24 cents a share on revenue of $11.3 billion. Shares were rising 1.8% to $27.64.

Larger competitor Home Depot (HD) last week topped analysts' earnings estimates, helped by a rise in residential spending due to warmer weather.


Natural gas company El Paso reported adjusted fourth-quarter earnings of 28 cents a share, up from 20 cents a share the same time last year but a penny below analysts' expectations.

Shares were up 0.5% to $27.30.


Online travel company Priceline.com (PCLN) is expected to report fourth-quarter earnings of $5.05 a share after the markets close Monday, compared with $3.40 a share the same time last year.

Shares were up 0.3% to $592.30.


Roche, the Swiss drug giant, extended until March 23 its buyout offer for Illumina (ILMN), the maker of gene-mapping tools.

Roche's hostile offer of $44.50 a share, or $5.7 billion, was set to expire on Feb. 24.


AES (AES - Get Report), the power company, reported fourth-quarter earnings of 23 cents a share on revenue of $4.27 billion, compared with the average analyst expectation of earnings of 22 cents a share on revenue of $3.46 billion.

-- Written by Andrea Tse and Joseph Woelfel

>To contact the writer of this article, click here: Joseph Woelfel

>To submit a news tip, send an email to: tips@thestreet.com.

Related links:


-- Written by Andrea Tse and Joseph Woelfel

>To contact the writer of this article, click here: Joseph Woelfel

>To submit a news tip, send an email to: tips@thestreet.com.

Related links:


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