Afternoon Market Update (BP, RIG, HAL, PCLN, HNT)

The energy giants’ executives are scheduled to testify today in Congress about the uncontained oil spill in the US Gulf of Mexico. Ahead of the hearings in the US senate, shares of BP BP fell 0.5% and those of Halliburton HAL dropped 0.8%. Transocean RIG stock added 0.4%. Shares of Priceline.com Inc PCLN shed roughly 14% after reporting healthy Q1 profits and revenue but issuing Q2 forecasts that was way short of expectations. Shares of Health Net HNT jumped by more than 4% after analysts at Cowen & Co upgraded the company’s stock from “underperform” to “outperform.” The upgrade in the rating helped HNT post strong gains in early trading hours today, and lift the fortunes of other insurers. Read more from Benzinga's Company news.