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Why Energy Transfer Equity, RetailMeNot, and Duluth Holdings Jumped Today

Image: RetailMeNot.

The stock market closed the week on a positive note, with investors initially celebrating a big upward move in oil prices to come close to the $40 per barrel mark. Yet healthy gains of as much as 150 points in the Dow Jones Industrials gave way to ongoing fears about the coming start to earnings season and the state of the global economy, and by the close, the Dow had given up most of those gains to finish up by just 35 points. Broader-based market measures posted similarly modest gains, but some stocks managed to stay higher on the day. Among the best performers were Energy Transfer Equity (NYSE:ETE), RetailMeNot (NASDAQ:SALE), and Duluth Holdings (NASDAQ:DLTH).

Energy Transfer Equity climbed 14% on a combination of factors. A healthy rise in oil prices bolstered sentiment throughout the energy industry, and on that score, many of Energy Transfer Equity's peers in the pipeline market posted solid gains on the day. Yet also contributing to Energy Transfer Equity's gains were hopes among investors that the company's much-criticized merger deal with Williams...