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Stock Market & Financial Investment News

News Breaks
June 25, 2014
08:50 EDTWNR, TSO, MRO, EPD, PSX, HFC, PXD, VLORefiners 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
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July 2, 2015
09:25 EDTTSOTesoro management to meet with JPMorgan
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July 1, 2015
18:20 EDTPXD, MROShell CEO says Opec production has pressured shale companies, FT reports
In an interview with the Financial Times, Shell (RDS.A, RDS.B) CEO Ben van Beurden said Opec's decision not to cut production has sent a "powerful signal... to shale oil companies as well as their financiers that they cannot forget the price risk. The industry will remember it for some time." The CEO noted that industry efforts to boost efficiency and cut costs should keep production going for "a while to come... until the sweet spots start running out." Publicly traded companies in the space include Chevron (CVX), Anadarko Petroleum (APC), Exxon Mobil (XOM), BP (BP), Marathon Oil (MRO), BHP Billiton (BHP), ConocoPhillips (COP), Pioneer Natural Resources (PXD), EOG Resources (EOG), Concho (CXO), Whiting Petroleum (WLL), and Continental Resources (CLR). Reference Link
17:00 EDTEPDEnterprise Products files to sell $1.92B in common units
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16:25 EDTEPDEnterprise Products signs additional commitment for Aegis ethane pipeline
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05:53 EDTTSOStocks with implied volatility movement; TSO FEYE
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June 26, 2015
17:51 EDTTSOFinal decision on Tesoro $210M railport project delayed until 2016, Reuters says
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June 25, 2015
10:00 EDTMROOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: AT&T (T) upgraded to Buy from Neutral at BofA/Merrill... Eli Lilly (LLY) upgraded to Buy, added to US 1 List at BofA/Merrill... Finish Line (FINL) upgraded to Buy from Neutral at B. Riley... Gran Tierra (GTE) upgraded to Buy from Hold at Canaccord... Greenhill & Co. (GHL) upgraded to Buy from Sell at Goldman... Magnum Hunter (MHR) upgraded to Equalweight from Underweight at Capital One... Marathon Oil (MRO) upgraded to Buy from Neutral at UBS... Newpark Resources (NR) upgraded to Strong Buy from Outperform at Raymond James... Office Depot (ODP) upgraded to Outperform from Market Perform at Telsey Advisory... Quanex (NX) upgraded to Outperform from In-Line at Imperial Capital... Vestas Wind (VWDRY) upgraded to Outperform from Neutral at Exane BNP Paribas... Web.com (WWWW) upgraded to Buy from Neutral at B. Riley... NRG Yield upgraded to Outperform from Market Perform at Avondale.
05:59 EDTMROMarathon Oil upgraded to Buy from Neutral at UBS
UBS analyst William Featherston upgraded Marathon Oil to Buy after his firm raised its 2015 Brent and WTI oil price forecasts for 2015 and 2016. Marathon is an inexpensive way to play rising oil prices, Featherston tells investors in a recent note. He has a $32 price target for the stock.
05:56 EDTMROChesapeake downgraded to Sell from Neutral at UBS
UBS analyst William Featherston downgraded Chesapeake Energy (CHK) to Sell after his firm cut its long-term normalized natural gas price forecast to $4.00 from $4.50. Featherston thinks Chesapeake carries "far too much financial leverage" and he views the shares as expensive relative to peers. The analyst cut his price target for the stock to $11 from $16. Shares of the natural gas producer closed yesterday down 22c to $11.56. Featherston coupled the downgrade with an upgrade of Marathon Oil (MRO) to Buy.
June 24, 2015
15:47 EDTEPDBankers see Energy Transfer having upper hand for Williams, dealReporter says
Energy industry bankers believe Energy Transfer Equity (ETE) has a good chance of winning its hostile bid for Williams (WMB), with one guessing Williams is likely to sell at a higher offer, but still to Energy Transfer, and another believing Energy Transfer will likely have to tweak the offer terms to change Williams’ mind, said dealReporter, according to contacts. Both bankers referenced in the report said other suitors are likely to emerge, with Kinder Morgan (KMI) and Enterprise Products Partners (EPD) named as being "equally capable" of pursuing a deal.
June 22, 2015
17:04 EDTEPDOn The Fly: Top stock stories for Monday
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08:47 EDTEPDKinder Morgan not likley to bid Williams, says Credit Suisse
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