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Stock Market & Financial Investment News

News Breaks
December 11, 2012
17:05 EDTCVX, TSO, TLLPTesoro Logistics acquires Chevron Pipeline's northwest products system for $400M
Tesoro Corporation (TSO) announced that its affiliate, Tesoro Logistics LP (TLLP), has executed a definitive agreement to purchase Chevron Pipe Line Company's (CVX) Northwest Products System for $400M. The transaction is subject to regulatory approval and is expected to close during 1Q13.
News For TLLP;TSO;CVX From The Last 14 Days
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March 27, 2015
18:21 EDTTSOTesoro begins restart of Martinez refinery, updates Q1 guidance
Tesoro announced that the Martinez, California refinery has begun the restart process. The Martinez, California refinery was in the final stages of major turnaround maintenance activity when the United Steelworkers Union issued a strike notice on February 1. The safest option at that time was to safely idle the remaining operating units and transition to operating the facility as a terminal. Tesoro has also reached agreements with the local USW at its Carson, California and Anacortes, Washington refineries and employees at those refineries are returning to work. The local unions at the Mandan, North Dakota and Salt Lake City, Utah refineries are expected to vote on their respective contracts over the next few days. For Tesoro, the strike resulted in higher operating costs than our previous guidance and lower capture rates compared to historical averages across our West Coast system. We currently estimate the California operating costs will be between $7.70-$7.95 per barrel. The Martinez, California strike and Anacortes, Washington and Salt Lake City turnarounds will negatively impact system capture rates by approximately $1.50-$2.00 per barrel during the first quarter, and we expect to realize a positive impact to capture rates in the second quarter as we complete the planned turnarounds. The idling of operations at Martinez resulted in higher crude inventory along with the higher planned inventory ahead of the Anacortes, Washington and Salt Lake City, Utah refinery turnarounds, these inventory builds are expected to result in a use of working capital during the first quarter. We expect these working capital impacts will reverse in the second quarter, as we restart and come out of turnarounds at our refineries.
15:51 EDTCVXChevron CEO Watson: We still plan on investing in U.S. in 'a very big way'
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06:37 EDTCVXOil retreats after Goldman says attacks won't have much impact, Reuters reports
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05:17 EDTCVXChevron sells interest in Caltex Australia
Chevron's wholly owned subsidiary Chevron Global Energy announced that it has entered into an underwriting agreement for the sale of its 50% shareholding in Caltex Australia Limited, or CAL. It is expected that these shares will be sold to a broad range of Australian and global equity market institutional investors. The announcement does not alter Chevronís focus on moving the Gorgon and Wheatstone liquefied natural gas, or LNG, projects towards start-up. Chevron is one of Australiaís largest foreign investors and is the largest holder of natural gas resources in the country.
March 26, 2015
09:17 EDTCVXChevron volatility flat, WTI trades above $51
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06:36 EDTCVXOil surges after Saudis attack Yemen rebels, Reuters reports
The price of West Texas Intermediate oil was up about 4% after Saudi Arabia and other countries bombed Iranian-backed rebel forces in Yemen, according to Reuters. OVerseas stocks fell signficantly following the attacks, the news service noted. Publicly traded oil companies include BP (BP), Chevron (CVX), ConocoPhillips (COP), Exxon Mobil (XOM), Royal Dutch Shell (RDS.A) and Total (TOT). Reference Link
March 25, 2015
09:29 EDTTSORefining stocks can outperform commodities within cycle, says Cowen
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09:19 EDTTSORefining sector price targets raised at Morgan Stanley
Morgan Stanley believes the market is underestimating US downstream earnings power. The firm expects US refining to re-rate, driven by relative valuations, secular tailwinds, and focus on shareholder returns. Morgan Stanley raised price targets on Valero (VLO) to $90 from $70, Tesoro (TSO) to $120 from $92, Phillips 66 (PSX) to $105 from $95, Western Refining (WNR) to $63 from $52, Delek US (DK) to $48 from $45, Marathon Petroleum (MPC) to $145 from $120, and PBF Energy (PBF) to $45 from $35.
March 22, 2015
17:59 EDTCVXOPEC will not take sole responsibility for supporting oil price, Reuters says
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March 20, 2015
10:00 EDTTSOOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: Actuant (ATU) downgraded at Stifel... American Capital Mortgage (MTGE) downgraded to Hold from Buy at Wunderlich... Campus Crest (CCG) downgraded at RBC Capital... Care.com (CRCM) downgraded to Neutral from Overweight at JPMorgan... Electrolux AB (ELUXY) downgraded to Neutral from Overweight at JPMorgan... Ericsson (ERIC) downgraded to Equal Weight from Overweight at Morgan Stanley... Extreme Networks (EXTR) downgraded at Raymond James... PrivateBancorp (PVTB) downgraded to Market Perform from Outperform at BMO Capital... TD Ameritrade (AMTD) downgraded to Neutral from Buy at Goldman... Tableau (DATA) downgraded at Mizuho... Tech Data (TECD) downgraded to Hold from Buy at Needham... Tesoro (TSO) downgraded at Wells Fargo... Ultra Clean (UCTT) downgraded to Hold from Buy at Needham... Vince Holding (VNCE) downgraded to Neutral from Overweight at Piper Jaffray... Youku Tudou (YOKU) downgraded to Sell from Hold at Deutsche Bank.
07:19 EDTCVXWhite House expected to unveil fracking rules today, WSJ says
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07:17 EDTTSOTesoro downgraded at Wells Fargo
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06:37 EDTCVXOil prices fall again, Reuters reports
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05:35 EDTTSOTesoro downgraded to Market Perform from Outperform at Wells Fargo
March 19, 2015
09:37 EDTCVXActive equity options trading on open
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07:19 EDTCVXKuwaiti minister says OPEC can't cut oil production, Bloomberg reports
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March 18, 2015
09:56 EDTCVXRumor: BP strength attributed to takeover speculation
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March 16, 2015
11:11 EDTCVXOPEC sees oil prices to hit U.S. oil output by late 2015, Reuters says
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09:26 EDTCVXAtwood Oceanics Atwood Osprey to be out of service for 30 days due to cyclone
Atwood Oceanics (ATW) announced that its semisubmersible drilling unit, the Atwood Osprey, parted several mooring lines and drifted approximately three nautical miles from its original position during Cyclone Olwyn, which impacted the northwest coast of Australia on March 12. The rig is currently stable with a support vessel in position, and preliminary results indicate minimal damage with an estimated maximum of 30 days out of service time for repairs. No rig personnel were injured in the event. The Atwood Osprey is contracted to Chevron Australia (CVX) and was on location at the Iago 1B well. The well had been shut down and secured in accordance with Chevron's cyclone demobilization procedures and the rig had ballasted down and evacuated all its rig personnel in advance of the cyclone. Atwood Oceanics is coordinating its efforts with Chevron, the Australian offshore regulator and other affected parties.
08:06 EDTCVXCB&I awarded technology and FEED contracts for coker unit
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