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Stock Market & Financial Investment News

News Breaks
February 4, 2013
08:04 EDTPBFPBF Energy announces investment in new rail infrastructure
PBF Energy announced the completion of the second crude oil unloading facility at its subsidiary’s Delaware City Refinery. The construction of the 70,000 barrel per day rail facility was announced in mid-2012 and was completed on schedule and on budget. The first unit train of Bakken crude oil is expected to discharge this week with seventeen more unit trains scheduled to arrive in the next two weeks. With the completion of this project, the Delaware City rail facilities are now capable of discharging 110,000 bpd of crude oil directly at the refinery – 40,000 bpd of heavy crude oil and 70,000 bpd of light crude oil. PBF Energy also announced that it has increased its previous guidance on the quantity of Canadian heavy crude that it can process at its Delaware City refinery. Based on the success the company has had running the Canadian heavy crudes to date, PBF Energy plans to increase the discharge capacity of the heavy crude rail unloading facility to 80,000 bpd. The new rail project should add an additional 40,000 bpd of heavy crude unloading capability to the existing 40,000 bpd rail facility. The project is anticipated to cost approximately $50M and to be completed in the fourth quarter of 2013.
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April 8, 2014
07:52 EDTPBFRefiners 2014 EPS estimates raised at Wells Fargo
Wells Fargo significantly raised its 2014 EPS estimates for Alon USA (ALJ), PBF Energy (PBF), Valero (VLO), and Western Refining (WNR) . The firm thinks that the sector is benefiting from better crack spreads and refining utilization so far in Q2, while U.S. exports of refined products jumped 21% year-over-year last quarter. Wells keeps Outperform ratings on PBF and Valero, and Market Perform ratings on Alon USA and Western Refining.
April 7, 2014
10:00 EDTPBFOn The Fly: Analyst Upgrade Summary
Agios Pharmaceuticals (AGIO) upgraded to Overweight from Neutral at JPMorgan... Alcoa (AA) upgraded to Hold from Sell at Deutsche Bank... Align Technology (ALGN) upgraded to Outperform from Market Perform at Barrington... Analog Devices (ADI) upgraded to Neutral from Sell at Goldman... B&G Foods (BGS) upgraded to Outperform from Sector Perform at RBC Capital... Citigroup (C) upgraded to Neutral from Underweight at HSBC... Intel (INTC) upgraded to Outperform from Sector Perform at Pacific Crest... JetBlue (JBLU) upgraded to Neutral from Sell at Goldman... Kindred Healthcare (KND) upgraded to Outperform from Sector Perform at RBC Capital... Lennox (LII) upgraded to Outperform from Market Perform at Wells Fargo... Newmont Mining (NEM) upgraded to Hold from Sell at Deutsche Bank... PBF Energy (PBF) upgraded to Buy from Neutral at Citigroup... Renasant (RNST) upgraded to Outperform from Market Perform at Raymond James... Select Medical (SEM) upgraded to Outperform from Sector Perform at RBC Capital... Ultra Petroleum (UPL) upgraded to Outperform from Market Perform at Raymond James... Under Armour (UA) upgraded to Buy from Neutral at Sterne Agee... Hercules Technology (HTGC) upgraded to Buy from Hold at Sandler ONeill... Standard Pacific (SPF) upgraded to Outperform from Market Perform at Raymond James... Yelp (YELP) upgraded to Outperform from Perform at Oppenheimer... Netflix (NFLX) upgraded to Outperform from Perform at Oppenheimer... Pandora (P) upgraded to Outperform from Neutral at Wedbush.
09:00 EDTPBFPBF Energy rises 4.4%
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05:52 EDTPBFPBF Energy upgraded to Buy from Neutral at Citigroup
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