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Stock Market & Financial Investment News

News Breaks
June 25, 2014
13:16 EDTDK, WNR, PSX, TSO, VLO, HFC, MRO, MPCWhite House says no change to U.S. oil export policies, Bloomberg reports
White House press secretary Josh Earnest said there have been no changes to the U.S. oil export policies, Bloomberg reports. Refiners have been trading lower following reports that the U.S. widened its oil export potential. Publicly traded companies in the space include Delek US (DK), HollyFrontier (HFC), Marathon Oil (MRO), Marathon Petroleum (MPC), Phillips 66 (PSX), Tesoro (TSO), Valero (VLO) and Western Refining (WNR).
News For DK;WNR;PSX;TSO;VLO;HFC;MRO;MPC From The Last 14 Days
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October 24, 2014
10:03 EDTMROOn The Fly: Analyst Initiation Summary
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06:08 EDTMROMarathon Oil initiated with a Buy at Mizuho
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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 16, 2014
08:14 EDTMROInternational E&P price targets lowered at Wells Fargo
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October 15, 2014
17:22 EDTMROMarathon Oil receives about $2.1B from sale of Norway business
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17:05 EDTWNRWNRL sees southwest wholesale business to add EBITDA of $40M in 2015
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07:36 EDTMROMarathon Oil volatility at three-year high as WTI Crude trades below $82
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05:58 EDTVLOStocks with implied volatility movement; KMI VLO
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October 14, 2014
17:01 EDTWNRWestern Refining increases quarterly dividend 15% to 30c
Western Refining announced its board approved a 30c per share dividend for Q4, a 15% increase from the 26c per share dividend paid in Q3. The dividend will be paid on November 13, to shareholders of record at the close of market on October 29.
October 13, 2014
11:23 EDTTSOStocks with call strike movement; APC TSO
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10:08 EDTMPCOn The Fly: Analyst Initiation Summary
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05:57 EDTMPCMarathon Petroleum reinstated with an Overweight at Barclays
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