News

Energy stocks rose late Thursday afternoon, with the NYSE Energy Sector Index adding 1.3% and the Energy Select Sector SPDR Fund (XLE) increasing 0.9%.

The Philadelphia Oil Service Sector Index climbed 1.9%, and the Dow Jones US Utilities Index was up 0.7%.

West Texas Intermediate crude oil rose 0.2% to $79.13 a barrel, while the global benchmark Brent crude contract increased 0.4% to $83.79 a barrel.

US natural gas stocks climbed 59 billion cubic feet in the week ended April 26, topping the 58 billion increase expected in a survey compiled by Bloomberg, and following the gain of 92 billion cubic in the previous week.

Henry Hub natural gas futures spiked 5.6% to $2.04 per 1 million BTU.

In corporate news, Peabody Energy (BTU) reported Q1 earnings Thursday of $0.29 per diluted share, down from $1.68 a year earlier. Analysts polled by Capital IQ expected $0.31. Revenue for the quarter was $983.6 million, down from $1.36 billion a year ago. Analysts expected $980 million. Peabody shares added nearly 1%.

Southern (SO) reported Q1 adjusted earnings Thursday of $1.03 per share, up from $0.79 a year earlier. Analysts polled by Capital IQ expected $0.90. Its shares rose 1%.

Proxy advisory firm Glass Lewis urged Shell (SHEL) shareholders to vote against a resolution proposed by a group of 27 investors that would have the energy company set tighter climate targets, Reuters reported Thursday. Shell was rising nearly 2%.

The US Federal Trade Commission declined to challenge Exxon Mobil's (XOM) acquisition of Pioneer Natural Resources (PXD) but asserted that Scott Sheffield, Pioneer's co-founder and former chief executive officer, must not take a seat on the combined entity's board. Exxon shares rose 0.1% and Pioneer gained 0.8%.

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