For Investors Only; Market Surges First Day Of New Quarter, July 1, 2014

Updates

Later, 6:34 p.m. CDT, after the market closed. How did the market do? First back to CHK/SSE, updated see below.

Trading at new 52-week highs: BHI, BK, Baytex, BKH, CRR, CFN, CHK, CLR, EEP, ETP, EPD, ERF, HK, HAL, HP, HES, MRO, NBR, NFX, NOV, OKE, QEP, SLB.

Williams Cos completes acquisition of GP and LP interests in Access Midstream Partners; reiterates proposal to merge partnerships:

• As previously announced, Williams is proposing the merger of Williams Partners L.P. with and into Access Midstream Partners, L.P. Williams is proposing that the entities merge in a unit-for-unit exchange at a ratio of 0.85 Access Midstream Partners units per Williams Partners unit. 
• Assuming the merger is completed in 2014, the merged MLP is expected to have a 2015 distribution increase of at least 25 percent above Access Midstream Partners' current guidance of $2.79 per unit, which represents an increase of more than 40 percent above current 2014 distribution guidance. The merged partnership is expected to have a best-in-class distribution growth rate of 10 to 12 percent annually through 2017, strong coverage and strong investment-grade ratings. Distribution coverage is estimated to be approximately 1.2x in 2015 and at or above 1.1x through 2017.
• Williams plans to increase its third-quarter 2014 dividend 32 percent to $0.56, or $2.24 on an annualized basis. In addition to the third-quarter 2014 dividend increase announced June 15, Williams also previously provided new dividend-growth guidance of approximately 15 percent annually - from the higher third-quarter 2014 base - through 2017 with planned dividends of approximately $1.96 in 2014, $2.46 in 2015, $2.82 in 2016, and $3.25 in 2017.

Original Post

 
Chrysler smashes analysts' forecasts. Business Insider is reporting:

Chysler saw its June U.S. auto sales jumped 9.2%, beating expectations for a 5.9% gain. This is the company's 51st straight month of growth.

Throughout the day, the world's big auto makers will be announcing their June sales results.

Analysts estimate June sales slipped to an annualized rate of 16.4 million, down from 16.7 in May.

Along with record sales of US homes (pending sales, I guess), it looks like Americans are shaking off the coldest winter in decades, you know, the one we just had in the middle of global warming.

As discussed last night in the blog, this morning the market is surging, already up nearly 100 points in early trading. WTI crude oil is up a whopping 0.5%. Whopping because the word on the street was that the price of oil should start falling now that events in Iraq are being discounted.

Disclaimer: this is not an investment site. Do not make any investment decisions based on anything you read here or think you may have read here. 

Yes, as expected, CHK is trading down almost 6% but that's entirely due to the spin-off. I don't see SSE over at Yahoo!Finance, but it does show up at GoogleFinance. SSE is up over one percent and currently trading at $24.22.

So, let's see.

Yesterday:

• 1,000 shares of CHK yesterday at $31.49 (52-week high): $31,490.

[Updated] Today, at the close,

• 1,000 shares of CHK at $29.224: $29,240
• 70 shares of SSE at $25.06: $1,754
• Total: $30,994