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Stock Market & Financial Investment News

News Breaks
January 9, 2014
07:37 EDTWNR, VLO, TSO, PSX, PBF, NTI, MPC, HFC, DK, CVI, CLMT, ALJDeutsche Bank to host a conference
U.S. Independent Refiners Conference is being held in Boston on January 9.
News For ALJ;CLMT;CVI;DK;HFC;MPC;NTI;PBF;PSX;TSO;VLO;WNR From The Last 14 Days
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October 31, 2014
09:22 EDTTSOTesoro upgraded to Outperform from Sector Perform at Howard Weil
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October 30, 2014
19:56 EDTTSOTesoro reports Q3 continued operations EPS $3.06, consensus $2.16
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16:49 EDTALJAlon USA Energy reports Q3 EPS ex-items 59c, consensus 60c
Reports Q3 operational revenue $1.85B, may not compare to consensus $2.12B.
15:30 EDTTSONotable companies reporting after market close
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08:36 EDTCVICVR Energy reports Q3 EPS 9c, consensus 74c
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08:20 EDTMPCMarathon Petroleum and partners order study of future operations for Capline
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07:23 EDTMPCMarathon Petroleum offers to sell remaining MPLX Pipe Line stake to MPLX
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06:58 EDTPBFPBF Energy processed 130,200 barrels per day through East Coast System in Q3
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06:33 EDTPBFPBF Energy reports Q3 adjusted EPS $1.60, consensus $1.04
Reports Q3 revenue $5.26B, consensus $4.79B
October 29, 2014
15:41 EDTMPCNotable companies reporting before tomorrow's open
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08:46 EDTPSXPhillips 66 Partners reports Q3 EPS 37c, consensus 40c
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08:07 EDTPSXPhillips 66 reports Q3 adjusted EPS $2.02, consensus $1.75
Reports Q3 Refining earnings of $558M, compared with earnings of $390M in Q2. The increase was primarily attributable to improved realized refining margins, which included capturing crude location differentials. Margins improved, despite lower worldwide market crack spreads, primarily due to higher clean product realizations. Additionally, secondary product margins benefited from lower crude oil prices. Q3 Midstream earnings were $115M, compared with earnings of $108M in Q2. Q3 Chemicals earnings were $230M and adjusted earnings were $299M, which compares with earnings of $324M in Q2.
October 28, 2014
16:40 EDTVLOValero to name CEO Joe Gorder as chairman of the board
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15:44 EDTPSXNotable companies reporting before tomorrow's open
Notable companies reporting before tomorrow's market open, with earnings consensus, include Southern Company (SO), consensus $1.07; Phillips 66 (PSX), consensus $1.75; Automatic Data Processing (ADP), consensus 60c; Praxair (PX), consensus $1.63; WellPoint (WLP), consensus $2.27; Exelon (EXC), consensus 73c; Eaton (ETN), consensus $1.23; Hess (HES), consensus $1.08; TE Connectivity (TEL), consensus $1.00; McGraw Hill Financial (MHFI), consensus 94c; Waste Management (WM), consensus 68c; Hershey (HSY), consensus $1.08; Ralph Lauren (RL), consensus $2.06; Wisconsin Energy (WEC), consensus 53c; Garmin (GRMN), consensus 71c; Sealed Air (SEE), consensus 46c; DENTSPLY (XRAY), consensus 60c; Goodyear Tire (GT), consensus 70c; Revlon (REV), one estimate 45c; Booz Allen (BAH), consensus 41c; Carlyle Group (CG), consensus 54c.
08:31 EDTPSXPhillips 66 becomes JV partner with Energy Transfer for Bakken crude pipelines
Energy Transfer Equity, L.P. (ETE), Energy Transfer Partners, L.P. (ETP) and Phillips 66 (PSX) announced that they have formed two joint ventures to develop the previously announced Dakota Access Pipeline and Energy Transfer Crude Oil Pipeline projects. Energy Transfer holds a 75% interest in each joint venture and will operate both pipeline systems. Phillips 66 owns the remaining 25% interests and will fund its proportionate share of the construction costs. The DAPL and ETCOP projects are expected to begin commercial operations in the fourth quarter of 2016. Based on contractual commitments to date, DAPL is expected to deliver in excess of 450,000 barrels per day of crude oil from the Bakken/Three Forks production area in North Dakota to market centers in the Midwest. DAPL will provide shippers with access to Midwestern refineries, unit-train rail loading facilities to facilitate deliveries to East Coast refineries, and the Gulf Coast market through an interconnection in Patoka, Illinois, with ETCOP. ETCOP will provide crude oil transportation service from the Midwest to the Sunoco Logistics Partners and Phillips 66 storage terminals located in Nederland, Texas.
October 24, 2014
17:09 EDTPBFPBF Energy announces resignation of Chief Accounting Officer Karen Davis
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October 22, 2014
16:33 EDTPSXPhillips 66 Partners announces acquisition of strategic logistics assets
Phillips 66 Partners LP (PSXP) has reached an agreement to acquire from Phillips 66 (PSX) two newly constructed crude oil rail-unloading facilities, located in Linden, New Jersey, and Ferndale, Washington, for $330M as well as certain assets associated with the Cross-Channel Connector Pipeline for an additional $10M. The acquisition, which is anticipated to close in early December 2014, is expected to be immediately accretive to unitholders. Upon closing of the acquisition, the Partnership plans to utilize the Cross-Channel Connector Pipeline assets to develop and undertake a new organic project to provide shippers access from the Partnership’s Pasadena Terminal to third-party systems located north of the Houston Ship Channel. The project is expected to have additional capital costs of $12.4M and is underwritten by long-term transportation service agreements with multiple shippers. The pipeline system will have an initial capacity of up to 180,000 barrels per day and is anticipated to commence commercial operations in the second quarter of 2015. In connection with the closing, Phillips 66 and the Partnership will enter into 10-year terminal services agreements for 100% of the available capacity of the rail-unloading facilities. The acquisition price for the rail-unloading facilities represents an approximate 10-times multiple of those facilities’ forecasted next 12 months’ earnings before interest, tax, depreciation and amortization. The terms of the transaction were approved by the board of directors of the general partner of Phillips 66 Partners, based on the approval and recommendation of its conflicts committee.
October 17, 2014
10:00 EDTCLMTOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: AK Steel (AKS) upgraded to Buy from Neutral at Nomura... AMD (AMD) upgraded to Sector Perform from Underperform at Pacific Crest... Atlantic Power (AT) upgraded to Market Perform from Underperform at BMO Capital... Basic Energy (BAS) upgraded to Outperform from Market Perform at Cowen... BorgWarner (BWA) upgraded to Buy from Hold at Deutsche Bank... CA Technologies (CA) upgraded to Overweight from Equal Weight at Barclays... Calumet Specialty Products (CLMT) upgraded to Outperform at Wells Fargo... DHT Holdings (DHT) upgraded to Buy from Hold at Evercore... Exelon (EXC) upgraded to Neutral from Sell at Citigroup... Fifth Third Bancorp (FITB) upgraded to Buy from Neutral at Citigroup... Goldman Sachs (GS) upgraded to Outperform from Market Perform at Keefe Bruyette... Helmerich & Payne (HP) upgraded to Buy from Neutral at UBS... Hilton (HLT) upgraded to Buy from Neutral at SunTrust... Hyatt Hotels (H) upgraded to Outperform from Neutral at Macquarie... IPG Photonics (IPGP) upgraded at Stifel... ITC Holdings (ITC) upgraded to Neutral from Underperform at Credit Suisse... Manpower (MAN) upgraded to Outperform from Market Perform at Avondale... Nabors Industries (NBR) upgraded to Outperform from Market Perform at Cowen... Newpark Resources (NR) upgraded at Cowen... Old Dominion (ODFL) upgraded to Buy from Neutral at Longbow... PDC Energy (PDCE) upgraded at SunTrust... Patterson-UTI (PTEN) upgraded to Buy from Neutral at UBS... PrivateBancorp (PVTB) upgraded to Outperform from Neutral at Macquarie... QLogic (QLGC) upgraded to Buy from Hold at Summit Research... RPC, Inc. (RES) upgraded at Cowen... Sonoco (SON) upgraded to Neutral from Underperform at DA Davidson... Southwestern Energy (SWN) upgraded to Outperform from Market Perform at Raymond James... SunEdison (SUNE) upgraded to Outperform at Cowen... TSMC (TSM) upgraded to Buy from Neutral at Mizuho... Tesco (TESO) upgraded to Outperform from Market Perform at Cowen... UnitedHealth (UNH) upgraded to Outperform from Market Perform at Leerink... Xilinx (XLNX) upgraded to Outperform from Market Perform at Wells Fargo.
07:07 EDTCLMTCalumet Specialty Products upgraded to Outperform at Wells Fargo
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05:33 EDTCLMTCalumet Specialty Products upgraded to Outperform at Wells Fargo
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