S&P 500
7,582.20
+0.03%
Dow Jones
51,018.80
+0.58%
Nasdaq 100
30,344.40
+0.25%
Russell 2000
2,916.31
-0.54%
FTSE 100
10,378.60
-0.32%
Nikkei 225
66,231.90
+0.67%

Commodities & Metals

SunCoke MLP IPO Falters on Debt Offering

Photo of Paul Ausick
By Paul Ausick Updated Published

Pouring molten steel

Thinkstock
A second initial public offering (IPO) went off this morning: SunCoke Energy Partners LP (NYSE: SXCP). The master limited partnership’s (MLP) common units went out at $19, the low end of the prospective range and have since dropped to around $18.33.

This was the last of three MLP IPOs that went off this week. The other two, USA Compression Partners LP (NYSE: USAC) and CVR Refining LP (NYSE: CVRR), posted mixed results. USA Compression closed its first day of trading down 2.2% and CVR Refining closed up fractionally.

SunCoke also announced this morning an offer to sell $150 million in 7.375% unsecured senior notes in a private placement. The debt offering is expected to close January 24th, and is likely responsible for the lackluster opening day trading.

Shares of SunCoke are trading at $18.34 in the early afternoon today.

Today’s other IPO, Norwegian Cruise Line Holdings Ltd. (NASDAQ: NCLH) continues to trade up about 25% at $24.86 after going out at $19 this morning.

Follow 24/7 Wall St. on Google
Photo of Paul Ausick
About the Author Paul Ausick →

Paul Ausick has been writing for 247Wallst.com for more than a decade. He has written extensively on investing in the energy, defense, and technology sectors. In a previous life, he wrote technical documentation and managed a marketing communications group in Silicon Valley.

He has a bachelor's degree in English from the University of Chicago and now lives in Montana, where he fishes for trout in the summer and stays inside during the winter.

Continue Reading

Paul Ausick |

MLPs Kick Off 2013 IPOs

ThinkstockThe first initial public offering (IPO) of the year went off yesterday as USA Compression Partners L.P. (NYSE: USAC) priced…

Paul Ausick |

SunCoke Fires Up Spin-Off IPO Again

ThinkstockAfter withdrawing a planned spin-off of a master limited partnership in November, SunCoke Energy Inc. (NYSE: SXC) this morning announced…

5 Outstanding MLPs to Buy Now for Big Passive Income With Yields as High 14.9%
Lee Jackson |

5 Outstanding MLPs to Buy Now for Big Passive Income With Yields as High 14.9%

For growth and income investors, top master limited partnerships may be a gold mine in the current investment environment. The…

World War 3 on Hold for Now: Grab 5 Ultra-High-Yield Dividend Energy Giants Fast
Lee Jackson |

World War 3 on Hold for Now: Grab 5 Ultra-High-Yield Dividend Energy Giants Fast

Now may be the time for investors grab some of the highest-yielding energy stocks, and these three offer some hefty…

Jon C. Ogg |

Top Analyst Upgrades and Downgrades: Calpine, LendingClub, Rocket Fuel, Symantec, Verizon and More

Wednesday's top analyst upgrades and downgrades from 24/7 Wall St. include Calpine, LendingClub, Rocket Fuel, Symantec and Verizon Communications.

Energy Stocks Could Rally as Iran/Russian Sanctions Kick In: 4 Highest-Yielding Dividend Buys
Lee Jackson |

Energy Stocks Could Rally as Iran/Russian Sanctions Kick In: 4 Highest-Yielding Dividend Buys

These four high-yield energy stocks pay dependable dividends, appear to have significant upside potential, and are not solely dependent on…

Merrill Lynch Has 4 Neglected Dividend Stocks Rated Buy
Lee Jackson |

Merrill Lynch Has 4 Neglected Dividend Stocks Rated Buy

A new Merrill Lynch research report makes the case that owning neglected stocks and selling crowded ones has been a…

Douglas A. McIntyre |

Fritz Henderson Makes The Weirdest Career Move Ever

When Fritz Henderson was named CEO of General Motors in March 2009, John Gapper of the Financial Times argued that…

Paul Ausick |

Coal Miner Peabody at 10-Year Low, Drags Down Other Miners

Goldman Sachs downgraded Peabody Energy, claiming that prices for metallurgical coal have not yet hit a bottom.

Top Gaining Stocks

Dell Technologies
DELL • Vol: 42,366,555
NetApp
NTAP • Vol: 15,911,807
ServiceNow
NOW • Vol: 68,243,561
IBM
IBM • Vol: 28,527,546
Hewlett Packard Enterprise
HPE • Vol: 86,996,387

Top Losing Stocks

Coterra Energy
CTRA • Vol: 73,319,495
Clorox
CLX • Vol: 4,744,001
ResMed
RMD • Vol: 3,526,686
Intel
INTC • Vol: 191,680,425
Skyworks Solutions
SWKS • Vol: 5,407,806