Arkansas’ Conoco Phillips (NYSE: COP) jumped 2.2%, as it announced it will split into two companies next year, one focused on oil production and the other on refining. Marathon Oil’s successful split has provided plenty of reason for optimism on the move.
Conoco is the best-performing stock on the InvestorPlace.com Real America Index today. Other top performers include:
South Carolina’s BMW (PINK: BAMXF) is up 1.71%, adding to its 5% jump yesrerday. Investors are still cheering the news of better than expected EBITDA this year.
Indiana’s Eli Lilly (NYSE: LLY) is up 1.38%. There’s no major news, and somehow announcement of a $2 million upgrade to the company’s x-ray analytical facility doesn’t seem like the kind of news that would move a multi-billion dollar company’s stock.
The Real America Index is marginally higher today, but these three stocks are being pummeled.
Kansas’ Sprint-Nextel Corporation (NYSE: S) is phoning in a -3.88% loss, which seems large in comparison to overall telecom weakness today, but no other news appears to be moving the stock.
Wyoming’s Double Eagle Petroleum (NASDAQ: DBLE) is leaking, down -3.96%. A commodity-based business will always be subject to daily moves in the underlying asset. In this case, Double Eagle is struggling amidst broad weakness in energy prices.
Montana’s Stillwater Mining (NYSE: SWC) is down another -5.72% today, giving it a 30% loss over the past week, since it announced its acquisition of Peregrine Metals Ltd. Investors seem to be choking at the deal.
Looking at the broad perspective, the Real America Index is down a fraction of a percent and keeping pace with the S&P and Dow vs. the Nasdaq’s greater than 1% loss.
About the Real America Index
When Americans wonder how healthy the nation’s economy is, where can they turn? At InvestorPlace, we hope we have the answer: a list of 50 publicly traded stocks we call the Real America Index. Check out the interactive Real America Index map, browse a list of all 50 component stocks, or find out how we created this index.