Congress changed the time that Daylight Saving Time would begin and end. While residents of most of the country once turned their clocks back an hour on the last Sunday in October, the date was changed two years ago to the first Sunday in November. The Energy Policy Act of 2005 also extended Daylight Saving Time on the front end, starting in 2007, to begin on the second Sunday in March.
I am long both OKS and OKE. The decline seen in shares of ONEOK, Inc. (NYSE:OKE) and units of its MLP ONEOK Partners (NYSE:OKS) is quite sickening. These two stocks have declined over 10% in recent days and over 25% since early September. In my opinion, this decline is wrongheaded and a clear overreaction by the market, much like what is happening with fellow midstream Kinder Morgan (NYSE:KMI). OKS data by YCharts.
Reverse stock split. In finance, a reverse stock split or reverse split is a process by which shares of corporate stock are effectively merged to form a smaller number of proportionally more valuable shares. A reverse stock split is also called a stock merge. The reverse stock split appellation is a reference to the more common stock split in which shares are effectively divided to form a larger number of proportionally less valuable shares.