|April 22, 2014|
|07:37 EDT||TSO, MRO, PSX, HFC, VLO, WNR||Increased refiner exporting playing a role in high gas prices, WSJ says|
Gasoline futures climbed a bit over 1% a gallon Monday and are up 11% for the year. While gasoline prices often rise ahead of summer, more gasoline being exported by refiners plays a "prominent" role in the current rally, said The Wall Street Journal, citing analysts. Publicly traded refiners include HollyFrontier (HFC), Marathon Oil (MRO), Phillips 66 (PSX), Tesoro (TSO), Valero (VLO) and Western Refining (WNR). Reference Link
News For WNR;HFC;MRO;VLO;PSX;TSO From The Last 14 Days
|November 30, 2015|
|17:04 EDT||HFC, TSO||On The Fly: Top stock stories for Monday|
After seeing an early-morning jump, stocks on Wall Street spent Monday's trading session generally lower amid a glut of reports on Black Friday and Cyber Monday sales trends as well as weaker than expected financial data on manufacturing and home sales. ECONOMIC EVENTS: In the U.S., the Chicago purchasing managers' index dropped 7.5 points to 48.7 in November, coming in much worse than the expected 54.0 reading. Pending home sales for October, meanwhile, rose 0.2% from the prior month, lower than the forecasted 1% monthly increase. The Dallas Fed's manufacturing index rose 7.8 points to -4.9 in November, which was better than the anticipated -10.0 reading. The National Retail Federation said that about 151M people say they shopped in-store or on-line over the past four days, compared with 136M who said in a mid-November survey that they planned to shop over the holiday period. Also, as expected, the International Monetary Fund Monday added the Chinese yuan to the the fund's basket of reserve currencies, joining the U.S. dollar, the euro, the Japanese yen and the British pound. COMPANY NEWS: Shares of Amazon (AMZN) spiked momentarily on Monday morning amid media reports that the company was seeing a strong start to the holiday sales season, with ChannelAdvisor reporting same-store sales growth of above 20% for the e-commerce giant over Black Friday and the rest of the long Thanksgiving weekend. By session close, however, the shares gave up their early gains, falling 1.26% to $664.80. Meanwhile, Target (TGT) slipped 1.28% to $72.50 as shoppers visiting the company's website in search of Cyber Monday deals encountered intermittent delays, which the company pinned on record sales volumes. Fellow retailer Wal-Mart (WMT) dipped 1.70% to $58.87, while specialty names Express (EXPR), Urban Outfitters (URBN), and Guess? (GES) fell a respective 5.48%, 5.29%, and 6.68%. MAJOR MOVERS: Among the notable gainers were a number of renewable fuel companies, with Pacific Ethanol (PEIX) and Renewable Energy Group (REGI) advancing a respective 21.12% and 6.50% after the EPA finalized its biofuel targets. Petroleum refiners HollyFrontier (HFC) and Tesoro (TSO) slipped 3.30% and 1.74%, respectively, following the news, while oil majors Exxon Mobil (XOM) and Chevron (CVX) closed the day up a respective 0.69% and 1.24%. Also higher was ITC Holdings (ITC), which jumped $3.11, or 9.21%, to $36.86 following a Bloomberg report that the company is exploring a potential sale. Separately, Microsoft (MSFT) rose 42c, or 0.78%, to $54.35 after research firm Raymond James upgraded the company two notches to Strong Buy from Hold, predicting that the tech giant will become one of the few large scale cloud vendors that can succeed across the industry's various segments. Among the noteworthy losers was Lockheed Martin (LMT), which declined $6.65, or 2.94%, to $219.26 after Barclays downgraded the shares to Underweight from Equal Weight, saying it "doesn't make sense" to expect further outperformance from the defense major. Also lower was Under Armour (UA), which fell $3.43, or 3.82%, to $86.25 after Piper Jaffray analyst Erinn Murphy cut her price target on the stock following visits to malls and retailers Thanksgiving night, reportedly finding evidence of deeper discounts than last year. Additionally, Lululemon (LULU) lost 8.91% to $47.82 after being downgraded to Underperform from Market Perform at FBR Capital after the research firm discovered "significantly higher" clearance levels on company products in-store and online. INDEXES: The Dow fell 78.57, or 0.44%, to 17,719.92, the Nasdaq lost 18.86, or 0.37%, to 5,108.67, and the S&P 500 slipped 9.70, or 0.46%, to 2,080.41.
|14:52 EDT||WNR, HFC, VLO, TSO, PSX||EPA sets renewable fuel standards for 2014, 2015, 2016|
The EPA announced it is finalizing the volume requirements and associated percentage standards that apply under the RFS program in calendar years 2014, 2015, and 2016 for cellulosic biofuel, biomass-based diesel, advanced biofuel, and total renewable fuel. EPA is also finalizing the volume requirement for biomass-based diesel for 2017. The final 2016 standard for advanced biofuel is nearly 1 billion gallons, or 35 percent, higher than the actual 2014 volumes, while the total renewable standard requires growth from 2014 to 2016 of over 1.8 billion gallons of biofuel, or 11% higher than 2014 actual volumes. The EPA set the renewable fuel target for 2015 at 16.93B gallons and the 2016 target at 18.11B gallons. Companies involved in renewable fuel production include Pacific Ethanol (PEIX), Gevo (GEVO), Renewable Energy (REGI), FutureFuel (FF) and Amyris (AMRS). Publicly traded companies in the refiner space, which may be impacted by the EPA's renewable fuel standards, include Delek US (DK), HollyFrontier (HFC), Marathon Petroleum (MPC), Phillips 66 (PSX), Tesoro (TSO), Valero (VLO) and Western Refining (WNR). Reference Link
|November 23, 2015|
|16:09 EDT||TSO||Tesoro to acquire Flint Hills Resources' marketing/logistics assets in Alaska |
Tesoro through its affiliate Tesoro Alaska Company, has agreed to acquire Flint Hills Resources' wholesale marketing and logistics assets in Anchorage and Fairbanks, Alaska. "This investment represents our commitment to efficiently and reliably serve customers in the state of Alaska," said Greg Goff, Chairman, President and Chief Executive Officer of Tesoro Corporation. "We have been a part of the Alaska community since 1969, and over the last five years we have invested more than $300 million dollars in our Alaska operations. We look forward to continuing our operations in the state. "This transaction includes: all FHR wholesale fuel marketing contracts in Alaska; an Anchorage terminal with 580,000 barrels of total in-service storage capacity, a truck rack, and rail loading capability; a Fairbanks airport terminal that includes 22,500 barrels of in-service jet fuel storage and truck rack; and a multi-year terminalling agreement at FHR's North Pole terminal, which will provide efficient rail offload capabilities and provide Tesoro access to Alaska's Interior. The former FHR North Pole refinery is not part of this acquisition.This transaction also improves Tesoro's ability to serve customers from its existing Anchorage terminal, as a result of Tesoro gaining access to rail loading capabilities located at the FHR Anchorage terminal. This extends Tesoro's ability to efficiently and reliably serve the Alaska interior. Tesoro expects to offer qualified third parties access to the FHR Anchorage terminal. The transaction is expected to close within 60 days, pending completion of transition, planning and required consents and approvals.
|10:00 EDT||PSX||On The Fly: Analyst Downgrade Summary|
Today's noteworthy downgrades include: Aixtron (AIXG) downgraded to Neutral from Overweight at JPMorgan... Cavium (CAVM) downgraded on checks at JMP Securities... Chico's (CHS) downgraded to Underperform from Peer Perform at Wolfe Research... Chipotle (CMG) downgraded on new E coli infections at Sterne Agee CRT... Constant Contact (CTCT) downgraded to Sell from Hold at Stifel... Fairchild (FCS) downgraded to Neutral from Positive at Susquehanna... Haemonetics (HAE) downgraded to Underperform from Market Perform at Raymond James... Jumei (JMEI) downgraded to Underperform from Buy at CLSA... Phillips 66 (PSX) downgraded to Sell from Neutral at Goldman... Power Integrations (POWI) downgraded to Neutral from Buy at Sidoti... Tata Motors (TTM) downgraded to Sell from Neutral at Goldman... Textura (TXTR) downgraded to Neutral from Outperform at Credit Suisse... TriVascular (TRIV) downgraded to Neutral from Buy at BTIG... Viacom (VIAB) downgraded to Hold from Buy at Deutsche Bank.
|06:32 EDT||PSX||Phillips 66 downgraded to Sell from Neutral at Goldman|
Goldman analyst Neil Mehta downgraded Phillips 66 to Sell and lowered his price target to $85 from $92 on shares. Mehta said Phillips 66 has lower free cash flow generation than peers and its higher distillate product exposure makes the refining segment less advantaged. The analyst sees limited growth opportunities for new crude infrastructure in the midstream business and expects the chemicals business to decline in 2016 if Brent prices stat below its $50/bbl forecast.
|06:09 EDT||HFC||HollyFrontier files automatic mixed securities shelf|
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|November 17, 2015|
|10:08 EDT||PSX||FERC approves Berkshire to own up to 25% of Phillips 66|
The Federal Energy Regulatory Commission ordered that Berkshire Hathaway (BRK.A) was authorized to own as much as 25% of Phillips 66 (PSX), concluding that transactions that will increase its stake are "consistent with the public interest," according to an order posted to the regulator's website.
|08:10 EDT||MRO||Mitsubishi UFJ to hold a conference|
Oil & Gas Conference is being held in New York on November 17.