New User:

-or-
Username:
Password:
Forgot your password?

Stock Market & Financial Investment News

News Breaks
January 29, 2014
08:04 EDTPSXP, PSXPhillips 66 growing Midstream and Chemicals through $4.6B capital program
Phillips 66 is growing its Midstream and Chemicals segments, while enhancing returns in Refining. As previously announced, the company is implementing this strategy through its planned $4.6B 2014 capital program, including its share of joint venture capital spending of $1.9B. In Midstream, as previously announced, the company is advancing development of a 100,000 barrel-per-day natural gas liquids fractionator to be located in Old Ocean, Texas. Phillips 66 also expects to build a liquefied petroleum gas terminal in Freeport, Texas, to help meet growing global demand. Final investment decisions for these projects will be submitted for board approval during the first quarter of 2014. The company will also seek growth opportunities through Phillips 66 Partners (PSXP). By the end of the fourth quarter, the company’s Transportation business had taken delivery of all 2,000 railcars it ordered in 2012. The new railcars are being used to transport advantaged crude to Phillips 66 refineries. The company successfully completed an open-season for the Cross-Channel Connector project, which will include reactivating an idled pipeline to connect refineries and storage terminals on the south side of the Houston Ship Channel with pipeline systems on the north side.
News For PSX;PSXP From The Last 14 Days
Sign up for a free trial to see the rest of the stories you've been missing.
September 2, 2015
16:23 EDTPSXMRC Global signs 5-year global contract extension with Phillips 66
MRC Global announced that its subsidiary, McJunkin Red Man Corporation, has signed a five-year contract to supply pipe, valve and fitting, or PVF, products and services for Phillips 66 (PSX). This global agreement is an expansion of the existing North American supply contract between the two companies and has been expanded to include refining in Europe. Phillips 66 is a diversified energy manufacturing and logistics company with leading Midstream, Chemicals, Refining and Marketing and Specialties businesses.
August 31, 2015
17:24 EDTPSXPhillips 66 shares could jump, Barron's says
Subscribe for More Information
16:23 EDTPSXOn The Fly: Top stock stories for Monday
Subscribe for More Information
12:20 EDTPSXOn The Fly: Top stock stories at midday
Stocks on Wall Street were lower at midday, putting the averages on track to close out a down month with a down day. The weakness is being attributed to comments from several Fed officials on the likelihood of interest rates rising sometime this year. Also impacting the negative tone may be the media reports regarding China pulling back on its recent asset purchases to shore up its stock market. ECONOMIC EVENTS: In the U.S., the Chicago PMI dipped to 54.4 in August from 54.7 in July, versus expectations for it to have edged up to 54.5. The Dallas Fed manufacturing survey general activity index fell to -15.8, versus expectations for a reading of -4.0. In Asia, Chinese stocks fell once again, with the Shanghai composite index closing down 0.82% to finish the month of August with a 12% decline. Japan's Nikkei index finished the month with an even worse daily decline, falling about 1.3%, giving the Nikkei an 8% drop during August. In Europe, a flash estimate from Eurostat showed inflation in the euro area remained unchanged at 0.2% in August. COMPANY NEWS: Shares of Phillips 66 (PSX) advanced 3% after Warren Buffett's Berkshire Hathaway (BRK.A) disclosed late Friday a $4.5B stake in the oil and gas refining and marketing company. Berkshire owns of the oil refiner. Berkshire increased its stake in Phillips 66 to nearly 58M shares between August 26 and August 28, according to filings with the SEC... Intel (INTC) and Goldman Sachs (GS) were the top gainers on the Dow and among the only names in the green among the members of the bluechip index, as both stocks benefited from analyst upgrades. Research firm Northland Capital upgraded Intel to Outperform, saying that the PC market has bottomed and that the chipmaking giant should benefit from its pending acquisition of Altera (ALTR), while Evercore ISI upgraded Goldman Sachs to Buy, saying the recent pickup in volatility has led to higher trading volumes, which should give a boost to the typically slowest summer month of the year. MAJOR MOVERS: Among the notable gainers was Vital Therapies (VTL), which gained 14% after the company announced that additional data from its VTI-208 clinical trial were presented this weekend at an international symposium on dialysis in liver disease. Also higher were shares of The Medicines Company (MDCO), which rose 18% after several analyst said that a Phase I trial of the company's ALN-PCSsc cholesterol treatment yielded better than expected results. Shares of The Medicines Company's partner on the drug, Alnylam Pharmaceuticals (ALNY), slipped 4% following the data announcement. Also lower were shares of ConforMIS (CFMS), which fell 18% after the company initiated a voluntary recall of specific serial numbers of patient-specific instrumentation for its knee replacement product systems and lowered its fiscal year revenue guidance. INDEXES: Near midday, the Dow was down 61.37, or 0.37%, to 16,581.64, the Nasdaq was down 16.59, or 0.34%, to 4,811.74, and the S&P 500 was down 8.73, or 0.44%, to 1,980.14.
09:24 EDTPSXOn The Fly: Pre-market Movers
Subscribe for More Information
06:59 EDTPSXPhillips 66 flat into Buffett's Berkshire reports $4.5B stake
Subscribe for More Information
05:25 EDTPSXBuffett's Berkshire reports $4.5B stake in Phillips 66
Subscribe for More Information

Sign up for a free trial to see the rest of the stories you've been missing.
I agree to the theflyonthewall.com disclaimer & terms of use