Bad News Is Good News For Kinder Morgan

shares are trading higher by $1 at $16.72 in Wednesday's session. After the close on Tuesday, the company announced a dividend cut that was more than the Street had anticipated. The frenzied selling in the pre-market session abruptly ended when the issue reached $14.36. The ensuing rally has taken the issue to $17.35. Before the dividend cut, the issue had posted nine down days in a row, taking it from its November 24 close ($24.41) to $15.06 on Tuesday.