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Stock Market & Financial Investment News

News Breaks
June 25, 2014
13:16 EDTDK, HFC, PSX, MPC, VLO, WNR, MRO, TSOWhite 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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April 22, 2015
07:15 EDTMROMarathon Oil initiated with a Buy at Nomura
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April 21, 2015
16:48 EDTWNRWestern Refining raises Q2 dividend to 34c per share from 30c per share
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April 20, 2015
15:35 EDTPSX, MPC, TSO, DK, HFC, VLO, WNRSenator to introduce legislation to repeal U.S. crude export ban, Fuelfix says
Senator Lisa Murkowski, the head of the Senate Energy and Natural Resources Committee, pledged during the IHS Energy CERAWeek conference to advance legislation lifting the U.S. ban on crude oil exports, reported Fuelfix. Publicly traded refiners include Delek US (DK), HollyFrontier (HFC), Marathon Petroleum (MPC), Phillips 66 (PSX), Tesoro (TSO), Valero (VLO) and Western Refining (WNR). Reference Link
14:56 EDTPSX, WNR, MPC, HFC, VLO, DK, TSOSenator to introduce legislation to repeal U.S. crude export ban, Reuter says
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10:00 EDTMROOn The Fly: Analyst Upgrade Summary
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06:51 EDTMROMarathon Oil upgraded to Overweight from Equal Weight at Morgan Stanley
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06:19 EDTWNR, PSX, VLO, TSO, MPC, HFCCiti still bullish on U.S. Refiners, Marathon Petroleum a top pick
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April 17, 2015
07:18 EDTMROMarathon Oil management to meet with UBS
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April 16, 2015
07:02 EDTMROMarathon Oil management to meet with UBS
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April 15, 2015
08:27 EDTDKDelek, Alon USA deal should create additional value, says Cowen
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08:23 EDTPSXPhillips 66 management to meet with Deutsche Bank
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07:34 EDTMROMarathon Oil management to meet with UBS
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April 14, 2015
17:16 EDTDKDelek US to acquire 48% ownership interest in Alon USA Energy
Delek US Holdings (DK) announced that it has entered into a definitive stock purchase agreement with Alon Israel Oil Company to acquire approximately 33.7M shares, or approximately 48% of the outstanding shares, of Alon USA Energy (ALJ) common stock owned by Alon Israel. Prior to commencing negotiations with Alon Israel, Delek US entered into a stockholder agreement with Alon USA. During the first year following the closing of this transaction, the agreement allows Delek US to acquire up to 49.99 percent of the outstanding shares of Alon USA at its discretion, with additional ownership above this threshold subject to approval of Alon USA’s board of directors. The stockholder agreement will expire on the first anniversary of the closing of this transaction, and Delek US will then have no further restrictions on ownership in Alon USA. The consideration to be paid by Delek US to acquire the Alon USA common stock will consist of the issuance of 6M shares of restricted Delek US common stock to Alon Israel, an unsecured $145M promissory note payable to Alon Israel maturing in January 2021 and $200M of cash that will be funded with a combination of cash on hand and borrowings on new or existing credit facilities. An additional 200,000 shares of Delek US common stock may be issued to Alon Israel under certain circumstances as outlined in the agreement. The approximate value of the transaction consideration is $572.4M based upon a closing price of $37.90 per share of Delek US common stock on April 14. The transaction is expected to close in the second half of May subject to customary governmental and other third party approvals.
April 13, 2015
10:00 EDTDKOn The Fly: Analyst Downgrade Summary
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10:00 EDTMROOn The Fly: Analyst Upgrade Summary
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08:53 EDTMROMarathon Oil upgraded at BofA/Merrill
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07:38 EDTPSXPhillips 66 management to meet with Deutsche Bank
Meeting to be held in Los Angeles on April 13 hosted by Deutsche Bank.
07:14 EDTMROMarathon Oil management to meet with UBS
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06:48 EDTDKDelek US downgraded to Neutral from Buy at Goldman
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06:46 EDTMROMarathon Oil upgraded to Buy from Neutral at BofA/Merrill
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