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Stock Market & Financial Investment News

News Breaks
May 30, 2014
11:39 EDTMPCMarathon Petroleum provides update on Garyville refinery operations
Marathon Petroleum Corporation's Garyville refinery was impacted by a tornado that occurred on May 28. As a result of this severe weather, the refinery experienced damage to a cooling water system that serves part of the refinery causing the No. 1 crude unit and other units to be taken off-line. Based on MPC's initial assessment of the damage and necessary repairs, the crude unit is anticipated to be operational by mid-June. The company does not expect total refinery throughputs to be significantly impacted, projecting less than a 5% reduction to the company's prior throughput guidance for this quarter.
News For MPC From The Last 14 Days
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March 25, 2015
09:29 EDTMPCRefining stocks can outperform commodities within cycle, says Cowen
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09:19 EDTMPCRefining sector price targets raised at Morgan Stanley
Morgan Stanley believes the market is underestimating US downstream earnings power. The firm expects US refining to re-rate, driven by relative valuations, secular tailwinds, and focus on shareholder returns. Morgan Stanley raised price targets on Valero (VLO) to $90 from $70, Tesoro (TSO) to $120 from $92, Phillips 66 (PSX) to $105 from $95, Western Refining (WNR) to $63 from $52, Delek US (DK) to $48 from $45, Marathon Petroleum (MPC) to $145 from $120, and PBF Energy (PBF) to $45 from $35.

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