Top News & Analysis Texas

  • NEW YORK-- Shares of LinnCo LLC, a subsidiary of oil and natural gas developer Linn Energy LLC, rose nearly 4 percent in its first day of trading on the Nasdaq. The Houston company raised about $1.1 billion in its initial public stock offering, selling 30.3 million shares for $36.50 each. Trading under the "LNCO" symbol, shares added $1.30 to $37.80 in afternoon trading.

  • They fault President Barack Obama and his Environmental Protection Agency for new clean air rules they deride as a devastating blow to a multibillion-dollar industry that has been the lifeblood of Appalachia for generations.

  • Oct 12- The deadly outbreak of fungal meningitis expanded to 12 states with the first case confirmed in Texas, the Centers for Disease Control and Prevention said on Friday, bringing the total of cases to 184..

  • But this isn't the first time Congress has pushed for more authority over the industry. And with a gridlocked Congress at its most unproductive in decades, experts don't expect to see new laws passed anytime soon.

  • Oct 12- Lexicon Pharmaceuticals Inc said its experimental bowel disorder drug met the main goal of reducing bowel movements in patients with gastrointestinal cancer in a mid-stage study, sending its shares up as much as 13 percent on Friday. However, Morningstar analyst Karen Andersen said the drug could now be potentially used as a first-line therapy.

  • Such a move would force the new Astoria plant to boost its offer price for capacity, leading to major power price increases that would harm consumers, the New York Public Service Commission said in a release Thursday.

  • Diamondback Energy Inc.' s shares are rising its first day of trading as a public company. The Midland, Texas, company, which develops oil and natural gas reserves in Texas, raised $218.8 million in its initial public stock offering, selling 12.5 million shares for $17.50 each. It had projected a price of $17 to $19.

  • LONDON, Oct 12- Frantic drilling activity across the United States has at last begun to moderate, as the industry responds to the plunge in prices for natural gas and now liquids such as butane and natural gasoline.

  • Oct 12- Shares of LinnCo LLC, a company set up to buy a stake in U.S. oil and gas producer Linn Energy LLC, rose as much as 3 percent on their debut, a day after the company priced its offering at $36.50 per share.

  • NEW YORK-- Shares of Lexicon Pharmaceuticals Inc. rose Friday after the company reported new clinical study data for its potential drug telotristat, which treats a condition caused by tumors in the gastrointestinal tract. Lexicon shares gained 12 cents, or 5 percent, to $2.51 in morning trading.

  • AUSTIN, Texas-- Lance Armstrong can never ride again in the world's top cycling races. His cancer-fighting foundation, however, plans to plunge ahead, despite the sanctions laid on Armstrong by the U.S. Anti-Doping Agency and its blistering report that portrays the cyclist as cheating his way through seven Tour de France victories.

  • OKLAHOMA CITY-- Oklahoma-based Devon Energy Corp. says it will close its office in Houston and transfer operations to Oklahoma City. The oil and gas company has about 500 employees in its Houston office, which now serves as the operations center for Devon's oil and natural gas fields in south and east Texas and Louisiana.

  • LONDON, Oct 12- Frantic drilling activity across the United States has at last begun to moderate, as the industry responds to the plunge in prices for natural gas and now liquids such as butane and natural gasoline.

  • HOUSTON-- KMG Chemicals' fiscal fourth-quarter net income more than tripled, as it lowered expenses and saw sales strengthen in its electronic chemical division. The Houston company earned $3.9 million, or 33 cents per share, for the three months ended in July 31. That's up sharply from $1.2 million, or 10 cents per share, in the year-earlier period.

  • Oct 12- Cleaning services company Ecolab Inc. St. Paul, Minnesota- based Ecolab will pay about $1.7 billion in cash and issue about 8 million shares to Champion, subject to certain adjustments at and after closing. Houston- based Champion, whose competitors include Schlumberger NV, Halliburton Co and Baker Hughes Inc, had sales of $1.2 billion last year, Ecolab said.

  • Oct 12- Cleaning services company Ecolab Inc. Ecolab's shares closed at $63.67 on the New York Stock Exchange on Thursday. Houston- based Champion, which competes with companies such as Schlumberger NV, Halliburton Co and Baker Hughes Inc, had sales of $1.2 billion last year, Ecolab said.

  • ST. PAUL, Minn.-- Ecolab, the cleaning, food safety and pest-control services company, is buying the specialty chemical company Champion Technologies in a cash-and-stock deal valued at about $2.2 billion.

  • DENVER-- Forest Oil is selling all of its South Louisiana properties for about $220 million as part of its plan to shed some non-core assets. Forest Oil Corp. previously announced that it is selling its East Texas natural gas gathering assets for $34 million. The Eagle Ford shale formation stretches from the western Texas- Mexico border to Louisiana.

  • *Pre-weekend profit taking pressures prices. *Coming up: Baker Hughes rig data, CFTC trade data Friday. NEW YORK, Oct 12- U.S. natural gas futures lost ground on Friday after four straight days of gains, lightly pressured by forecasts for fairly mild U.S. weather next week and some profit taking following the front-month's climb to a fresh 2012 high in overnight trade.

  • NEW YORK/ HOUSTON, Oct 11- Oil major BP Plc has secured U.S. government permission to ship U.S. crude oil to Canada, and Royal Dutch Shell has applied for an export license, as rising production in the world's top oil consumer upends global energy flows.