The company announced that it reduced its dividend to 5c from 10c this morning and will continue to evaluate the dividend policy. Tesoro said there other ways it is considering allocating capital, especially to high return projects. There are hundreds of projects, which are going to require a high level of execution and to be able to complete all these as quickly as the company wants to complete them and have the right sequencing and priority becomes much more challenged than the dividend. These comments were made from the Q3 Earnings Conference call. :theflyonthewall.com
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The following stocks were the top percentage losers before the open on solid volume of at least 50,000 shares, trading at over $10. WU (10.3%), CTRP (7.3%), VRSN (7.2%), RL (6.6%), TSO (6%). :theflyonthewall.com
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