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Stock Market & Financial Investment News

News Breaks
June 25, 2014
08:50 EDTVLO, PSX, TSO, PXD, EPD, WNR, HFC, MRORefiners slip after U.S. widens oil export potential
Shares of Pioneer Natural Resources (PXD) are rising in early trading after the U.S. reportedly gave Pioneer and Enterprise Products Partners (EPD) permission to ship a type of light oil known as condensate to foreign buyers. Meanwhile, shares of refiners are trading lower following the news. WHAT'S NEW: The U.S. Department of Commerce's Bureau of Industry and Security told Pioneer Natural that putting condensate through a stabilizer was sufficient processing to qualify it to be eligible for export without a license, according to Reuters, citing a statement from the company. The Wall Street Journal also reported that the Department of Commerce had given approval via a private ruling to Pioneer and Enterprise Product Partners to export condensate. WHAT'S NOTABLE: Refiners may see their profits drop if they are forced to pay higher prices to compete with international buyers for U.S. crude. “We don’t think the current system needs to be changed,” a spokesman for Valero Energy (VLO), Bill Day, told Bloomberg. Other publicly traded refining companies include HollyFrontier (HFC), Marathon Oil (MRO), Phillips 66 (PSX), Tesoro (TSO), and Western Refining (WNR). PRICE ACTION: In pre-market trading Pioneer Natural Resources was up 2% to $226.50, while Enterprise Products Partners was up 1.7% to $77.40. Shares of several refiners' stocks were indicated to open lower, with Valero down over 4% in pre-market trading, Phillips 66 down 2.8% and Tesoro down 2.5%.
News For VLO;PSX;TSO;PXD;EPD;WNR;HFC;MRO From The Last 14 Days
Check below for free stories on VLO;PSX;TSO;PXD;EPD;WNR;HFC;MRO the last two weeks.
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July 23, 2014
13:38 EDTVLOCST Brands poised for big gains, Barron's reports
Since its spin-off from Valero (VLO), CST Brands (CST) has been raising fuel margins and selling a wider mix of higher margin private-label goods and prepared foods. These upgrades are likely to accelerate earnings growth, Barron's reports. Reference Link
July 21, 2014
16:46 EDTTSOTesoro to launch new petrochemical feedstock project
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July 15, 2014
08:23 EDTEPDEnterprise Products announces two-for-one split of common units
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07:01 EDTVLOValero Energy volatility expected to move on Q2 guidance
Valero Energy volatility is expected to move after lowering Q2 earnings guidance. Overall option implied volatility of 31 is at its 26-week average according to Track Data, suggesting non-directional price movement.
July 14, 2014
18:15 EDTVLO, TSO, HFCOn The Fly: After Hours Movers
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18:02 EDTHFC, TSO, VLORefiners weak after Valero Q2 guidance misses consensus estimates
Shares of select companies in the oil refinery space are weaker in after-hours trading after Valero, an independent petroleum refining and marketing company, gave second quarter guidance that was lower than consensus estimates. WHAT'S NOTABLE: Valero said it expects Q2 EPS of $1.10-$1.25 versus a consensus estimate of $1.39. PRICE ACTION: Valero shares are lower by $1.70, or 3.4%, to $48.22. OTHERS TO WATCH: Tesoro Corporation (TSO) is down by almost 1%, HollyFrontier Corporation (HFC) is down 0.6%, and Marathon Petroleum Corporation (MPC) is lower by 0.36%.
17:02 EDTVLOValero sees Q2 EPS $1.10-$1.25, consensus $1.39
Valero's refining segment operating income is expected to be higher in the second quarter of 2014 versus the second quarter of 2013 primarily due to higher throughput volumes, as well as wider discounts on sour crude oil and certain types of North American light crude oil, which offset weaker year-over-year gasoline and distillate margins in most regions. In addition, Valero's ethanol segment operating income is expected to be higher in the second quarter of 2014 versus the second quarter of 2013 mainly due to higher gross margins. Valero also expects to report a loss from discontinued operations of $63M, or 12c per share, related primarily to a noncash charge associated with recognizing an asset retirement obligation for the Aruba refinery.
July 11, 2014
10:00 EDTHFCOn The Fly: Analyst Upgrade Summary
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05:54 EDTHFCHollyFrontier upgraded to Neutral from Sell at Citigroup
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July 10, 2014
10:05 EDTHFCOn The Fly: Analyst Upgrade Summary
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09:09 EDTEPDEnterprise Products increases dividend by 5.9% to 72c
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07:41 EDTHFCHollyFrontier upgraded to Neutral from Underperform at Macquarie
Macquarie upgraded HollyFrontier to Neutral based on valuation. Price target is $45.
06:06 EDTVLOStocks with implied volatility below IV index mean; LULU VLO
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July 9, 2014
14:37 EDTPSXPhillips 66 spikes to highs of session after increased CapEx, share repurchase
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14:32 EDTPSXPhillips 66 approves increased CapEx plan of $3.9B, $2B share repurchase plan
The board of directors of Phillips 66 has approved an increase in 2014 capital spending to support the company’s growth strategy and authorized returning additional capital to shareholders. The board authorized $3.9B of capital expenditures this year, an increase of $1.2B to the previously approved budget. The increased capital program is designed to accelerate the development of the Sweeny Fractionator One and Freeport Liquid Petroleum Gas Export Terminal, as well as fund the recently announced acquisitions of the Beaumont Terminal in Texas and Spectrum Corporation, a specialty lubricants company. The board also approved an additional $2B share repurchase program. Since the third quarter of 2012, the board has authorized a total of $7B in share repurchases. The company’s cumulative share repurchases totaled $3.2B through the first quarter of 2014.
14:30 EDTPSXPhillips 66 approves increased CapEx plan, $2B share repurchase plan
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10:02 EDTHFCOn The Fly: Analyst Upgrade Summary
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07:28 EDTHFCHollyFrontier upgraded to Outperform at Wells Fargo
Wells Fargo upgraded HollyFrontier to Outperform from Market Perform citing the recent pullback in shares and a positive outlook for crude differentials in late 2014/2015. Wells keeps a $50-$53 price target range for shares.
06:05 EDTVLOStocks with implied volatility below IV index mean; DG VLO
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06:04 EDTHFCHollyFrontier upgraded to Outperform from Market Perform at Wells Fargo
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