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Stock Market & Financial Investment News

News Breaks
January 2, 2013
18:28 EDTNS, CLMTNuStar Energy closes sale of San Antonio refinery assets to Calumet Specialty
NuStar Energy (NS) announced that it has closed on the sale of its San Antonio refinery and related assets, including a terminal in Elmendorf, TX and a pipeline connecting the terminal and refinery, to Calumet Specialty Products Partners (CLMT) for $100M, plus closing date inventory of approximately $15M. NuStar purchased the refinery and terminal out of bankruptcy in April 2011 for $41M, and the company has invested approximately $54M since then on improvements. To facilitate the transition of the facilities from NuStar to Calumet, the two companies have entered into a transition services agreement in which NuStar will continue providing operational and administrative support for the next few months. NuStar will use proceeds from the transaction to fund the growth of stable, fee-based pipeline and storage operations, especially in the Eagle Ford Shale region and other U.S. shale plays.
News For NS;CLMT From The Last 14 Days
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January 29, 2016
10:36 EDTNSNuStar Energy: Not actively seeking preferred issuance
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10:18 EDTNSNuStar Energy sees Q1 EPS 40c-50c, consensus 47c
Says market conditions have continued to "falter" since end of Q3. Says Eagle Ford portion of business is "small slice" of total business. Says other pipeline assets should continue to perform well in FY16. Says Eagle Ford throughput should be slightly above expected volumes in FY16. Says storage segment should perform well in FY16. Says has no plans to cut distribution now or in "foreseeable future." Sees Q1 distributable cash flow $1.00-$1.10. Sees Q1 SG&A expense $26M-$28M. Sees oil markets to remain volatile for the foreseeable future. Comments taken from Q4 earnings conference call. In morning trading, NuStar shares rallied 7.66% to $32.88.
06:45 EDTNSNuStar Energy sees FY16 storage segment EBITDA $310M-$330M
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06:44 EDTNSNuStar Energy reports Q4 EPS 61c, consensus 56c
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