The Hot Stock: ConocoPhillips Jumps 8.8%
March 30, 2017 at 17:12 PM EDT
ConocoPhillips ( COP ) soared to the top of the S&P 500 today after agreeing to sell a large portion of its Canadian assets to Cenovus Energy ( CVE ). ConocoPhillips gained 8.8% to $50 today, while the S&P 500 rose 0.3% to 2,368.06. Cenovus Energy dropped 14% to $11.29 today. Barclays analyst Paul Cheng and team say "here comes the cash." They explain:
