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Stock Market & Financial Investment News

News Breaks
January 8, 2014
09:35 EDTPSXPhillips 66 upgraded to Outperform from Sector Perform at Howard Weil
News For PSX From The Last 14 Days
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November 30, 2015
14:52 EDTPSXEPA sets renewable fuel standards for 2014, 2015, 2016
The EPA announced it is finalizing the volume requirements and associated percentage standards that apply under the RFS program in calendar years 2014, 2015, and 2016 for cellulosic biofuel, biomass-based diesel, advanced biofuel, and total renewable fuel. EPA is also finalizing the volume requirement for biomass-based diesel for 2017. The final 2016 standard for advanced biofuel is nearly 1 billion gallons, or 35 percent, higher than the actual 2014 volumes, while the total renewable standard requires growth from 2014 to 2016 of over 1.8 billion gallons of biofuel, or 11% higher than 2014 actual volumes. The EPA set the renewable fuel target for 2015 at 16.93B gallons and the 2016 target at 18.11B gallons. Companies involved in renewable fuel production include Pacific Ethanol (PEIX), Gevo (GEVO), Renewable Energy (REGI), FutureFuel (FF) and Amyris (AMRS). Publicly traded companies in the refiner space, which may be impacted by the EPA's renewable fuel standards, include Delek US (DK), HollyFrontier (HFC), Marathon Petroleum (MPC), Phillips 66 (PSX), Tesoro (TSO), Valero (VLO) and Western Refining (WNR). Reference Link
November 23, 2015
10:00 EDTPSXOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: Aixtron (AIXG) downgraded to Neutral from Overweight at JPMorgan... Cavium (CAVM) downgraded on checks at JMP Securities... Chico's (CHS) downgraded to Underperform from Peer Perform at Wolfe Research... Chipotle (CMG) downgraded on new E coli infections at Sterne Agee CRT... Constant Contact (CTCT) downgraded to Sell from Hold at Stifel... Fairchild (FCS) downgraded to Neutral from Positive at Susquehanna... Haemonetics (HAE) downgraded to Underperform from Market Perform at Raymond James... Jumei (JMEI) downgraded to Underperform from Buy at CLSA... Phillips 66 (PSX) downgraded to Sell from Neutral at Goldman... Power Integrations (POWI) downgraded to Neutral from Buy at Sidoti... Tata Motors (TTM) downgraded to Sell from Neutral at Goldman... Textura (TXTR) downgraded to Neutral from Outperform at Credit Suisse... TriVascular (TRIV) downgraded to Neutral from Buy at BTIG... Viacom (VIAB) downgraded to Hold from Buy at Deutsche Bank.
06:32 EDTPSXPhillips 66 downgraded to Sell from Neutral at Goldman
Goldman analyst Neil Mehta downgraded Phillips 66 to Sell and lowered his price target to $85 from $92 on shares. Mehta said Phillips 66 has lower free cash flow generation than peers and its higher distillate product exposure makes the refining segment less advantaged. The analyst sees limited growth opportunities for new crude infrastructure in the midstream business and expects the chemicals business to decline in 2016 if Brent prices stat below its $50/bbl forecast.

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