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Stock Market & Financial Investment News

News Breaks
January 10, 2013
14:01 EDTPTRY, BPPantry, BP enter fuel supply agreement expiring December 31, 2019
In a regulatory filing, Pantry (PTRY) disclosed that on January 7, the company entered into a Branded Jobber contract with BP Products North America (BP). The agreement supersedes and replaces the original Branded Jobber Contract dated February 1, 2003, as amended, between the company and BP. The agreement provides for BP to supply, and the company to purchase, certain minimum amounts of motor fuel for the company’s specified convenience store locations. The agreement initially relates to 394 BP branded outlets with provisions pursuant to which locations may be added to or removed from the agreement during the term of the agreement for specified reasons. The prices provided for in the agreement are based upon industry indexes. If the company fails to purchase its annual minimum contract volume, BP may charge the company a shortfall penalty of 2c per gallon times the difference between the number of gallons purchased and the minimum volume requirement. The term of the agreement expires on December 31, 2019.
News For PTRY;BP From The Last 14 Days
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August 22, 2014
09:34 EDTPTRYThe Pantry downgraded to Neutral from Buy at Sidoti
06:39 EDTBPBP drops $9.3B on fuel stations, exploration in Australia, Bloomberg says
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August 11, 2014
07:04 EDTBPBP's risk from Russian sanctions muted, says RBC Capital
RBC Capital said in the unlikely situation that BP were to relinquish its Rosneft stake due to Russian sanctions, the impact would be muted and shares would still offer 15% upside. The firm believe upside potential more than compensates the risk and reiterates its Outperform rating.

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