BP, Shell: Premarket Trading
NEW YORK (TheStreet) -- Energy stocks were trading in the red before the market open Monday.
BP
(BP)
was falling 1.5% to $40.31 after it announced
plans to sell a stake in an Argentina asset
in order to help pay for the costs of the Gulf of Mexico oil spill.
Royal Dutch Shell
(RDS.A)
was lower by 1.1% to $61.53. According to
The Wall Street Journal
, a U.S. subsidiary of the company is putting its South Texas gas fields up
Amarin
(AMRN)
was soaring by 11.8% to $3.97 as the drug company reported positive results from a phase III clinical trial of its drug AMR101 for patients with high fatty acid levels.
Shares of
TheStreet Recommends
rose 0.6% to $178.23 in premarket trading as retailers kicked off "Cyber Monday," offering online shoppers free shipping and deep discounts.
The day occurs the Monday after Thanksgiving and "Black Friday," the traditional first day of the holiday shopping season.
According to
Reuters
, Web tracking firm comScore says shoppers could spend about $900 million on Monday.
With its Kindle reading device as one of the main attractions, Amazon is expected to benefit greatly from Cyber Monday.
Internet auctioneer
eBay
(EBAY)
rose 0.5% to $31.01 in premarket trading.
Shares of retailer
Target
(TGT)
were flat at $56.90.
Wal-Mart
(WMT)
shares were rising by 0.4% to $53.94.
On Monday,
Wal-Mart said it offered to buy South Africa's Massmart Holding
for about $20.78, or $2 billion.
Royal Bank of Scotland
(RBS)
was lower by 0.2% to $12.05 in premarket trading, while
Barclays
(BCS)
was down 0.5% to $16.23 as the market weighed how big a role the European Union's rescue plan would play in helping Ireland's ailing financial sector.
>>Search for Highest Dividends by Rate or Yield
More on Earnings Today's Top Earnings |
-- Written by Andrea Tse in New York.
>To contact the writer of this article, click here:
Andrea Tse
.
>To follow the writer on Twitter, go to
.
>To submit a news tip, send an email to:
.
RELATED STORIES:
>>Shell's South Texas Gas Fields for Sale
>>Wal-Mart Bids to Buy 51% of Massmart
>>Deere, Frontline: Premarket Trading
Copyright 2010 TheStreet.com Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
