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Stock Market & Financial Investment News

News Breaks
June 25, 2014
08:50 EDTHFC, PXD, VLO, WNR, TSO, MRO, EPD, PSXRefiners 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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February 10, 2016
06:38 EDTVLOValero downgraded to Buy from Conviction Buy at Goldman
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February 9, 2016
12:04 EDTPSXTortoise Capital reports 6.5% passive stake in Phillips 66
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10:17 EDTPSXActive puts: IWM PSX SPY JBLU
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February 8, 2016
10:06 EDTWNRHigh option volume stocks
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February 7, 2016
18:51 EDTTSOTesoro reaches $8.08M settlement over unpaid bonuses
The National Labor Relations Board announced Friday that it approved a settlement agreement between Tesoro and the United Steel, Paper and Forestry, Rubber, Manufacturing, Energy, Allied Industrial and Service Workers International Union. Under the bilateral agreement, Tesoro will pay more than $8.08M to 769 employees at their Carson, CA and Anacortes, WA facilities who engaged in the winter 2015 refinery strike. In February 2015, collective bargaining agreements at both facilities expired. Workers at the Carson, Anacortes, and facilities across the country began a strike that stretched into late March when a new contract was reached. On March 6, Tesoro awarded bonuses for the previous year to non-unit and non-striking employees, but withheld such bonuses from striking employees, deeming them ineligible to receive them. The annual incentive bonuses were based upon performance and profits during the previous calendar year. The settlement provides the workers with 100% of the bonuses they were eligible to receive. Reference Link
February 4, 2016
13:27 EDTPSXPhillips 66 rises after Buffett adds to position
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05:15 EDTVLOStocks with implied volatility movement; VLO LOW
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February 3, 2016
11:37 EDTPSXOptions with increasing put volume; PSX CDNS DF WDR MELI MAS NOV WSM DB
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08:13 EDTTSOTesoro names Kim K.W. Rucker as EVP, General Counsel
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February 2, 2016
15:16 EDTMROS&P takes rating actions on U.S. investment-grade E&P companies
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February 1, 2016
18:56 EDTTSOTesoro reports Q4 EPS ex-items $1.83, consensus $2.08
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14:32 EDTTSONotable companies reporting after market close
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January 31, 2016
16:18 EDTPSXBerkshire Hathaway acquires additional 2.54M shares of Phillips 66
In a regulatory filing late Friday, Berkshire Hathaway (BRK.A, BRK.B) disclosed the purchase of an additional 2.54M shares of Phillips 66 (PSX). The purchases were made January 27-29.
January 29, 2016
12:56 EDTPSXPhillips 66 says expects 'stronger gasoline growth globally' in 2016
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12:48 EDTPSXPhillips 66 says expects CapEx to decline over next several years
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12:21 EDTPSXPhillips 66 sees Q1 pre-tax refining turnaround expenses approximately $150M
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12:09 EDTPSXPhillips 66 sees 2016 pre-tax refining turnaround expenses $525M-$575M
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12:08 EDTPSXPhillips 66 says targeting 2016 dividend increase of at least 10%
Comment from company's Q4 earnings conference call.
07:03 EDTPSXPhillips 66 executing on plan to grow Midstream and Chemicals business
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07:01 EDTPSXPhillips 66 reports Q4 adjusted EPS $1.31, consensus $1.25
We operated well in the quarter, as refining capacity utilization remained high and clean product yield increased," said Greg Garland, Chairman and CEO. "We also reached a significant milestone with the Sweeny Fractionator One and Clemens Caverns coming online. Solid execution in the fourth quarter generated $1.5 billion of cash from operations, and we returned over $700 million to shareholders through dividends and share repurchases." Phillips 66's Midstream fourth-quarter adjusted earnings were $42 million, a decrease of $49 million from the third quarter. Phillips 66's Transportation business generated adjusted earnings of $78 million during the fourth quarter, consistent with the third quarter. NGL adjusted losses were $2 million for the fourth quarter. The $34 million decrease from the prior quarter was largely driven by the timing of adjustments related to the tax extenders bill, signed in December, as well as additional costs associated with the Sweeny Hub.
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