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Stock Market & Financial Investment News

News Breaks
March 12, 2013
08:04 EDTTSO, VLO, FTO, MRO, HOC, WNROil groups say renewable fuel mandate creating imbalances, FT reports
A sharp rise in prices for ethanol credits, known as Renewable Identification Numbers or RINs, may incentivize refiners to export more finished products and discourage imports, according to a senior policy adviser to the American Petroleum Institute, reported Financial Times. For its part, Valero (VLO) said elevated RIN prices will eventually will be "reflected in the price at the pump and people in areas that are short refining capacity will notice it first, the report added. Reference Link
News For VLO;WNR;MRO;TSO;HOC;FTO 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.
16:01 EDTVLOOptions Update; March 27, 2015
iPath S&P 500 VIX Short-Term Futures down 31c to 25.74 Option volume leaders: AAPL TSLA TWTR RAD FB PBR AMZN DOW VLO AMAT ALTR according to Track Data.
March 25, 2015
09:29 EDTVLO, WNR, TSORefining stocks can outperform commodities within cycle, says Cowen
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09:19 EDTTSO, VLO, WNRRefining 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 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.
07:17 EDTTSOTesoro downgraded at Wells Fargo
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05:35 EDTTSOTesoro downgraded to Market Perform from Outperform at Wells Fargo

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