A 6.98% slide to $387.85 wipes out roughly $8 billion of market value in one session, a rare one-day drop for a refiner this size. No clear catalyst yet, so watch whether buyers step in near this level.
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Roughly $8 billion comes off this refiner's market value in a single session, one of its sharpest one-day moves. The company put out a piece a day earlier on signs of a U.S.-Iran ceasefire, though the link to today's selling is unconfirmed.
Refining margins drove R&M adjusted EBITDA to $9.9 billion from $1.8 billion a year ago. Management is handing the windfall straight back, raising the dividend 10% and adding $5 billion in buyback authorization.
Boeing's 10.75% drop to $168.07 was the heaviest close in a 382-name priority list, with three big refiners right behind it. On the other side, Navitas led the gainers at +11.13%.
- PBRPetrobras$25.3+16.2%
- PEverpure$154.49+15.2%
- PBR-APetrobras$22.47+14.8%
- HPEHewlett Packard Enterprise$73.46+13.8%
- MRNAModerna$225+10.6%
- MPCMarathon Petroleum$455.03+9.1%
- FTNTFortinet$194.75+8.9%
- RBRKRubrik$125.14+8.8%
- ITUBItau Unibanco$10.16+8.4%
- GTLBGitLab$55.09+7.9%
36 stocks set fresh 52-week highs this week, with Petrobras clearing its old peak by 16%. Hewlett Packard Enterprise, Moderna, Marathon Petroleum, Fortinet, Rubrik and GitLab round out the breakout list.
Optical and data center names filled four of the five worst spots at this close, led by Applied Optoelectronics at -14%. Accenture's 6.2% gain was the best of a far tamer upside.
NuScale Power is off 5.9% at today's open, with four other names down more than 4.9% and the best gainer, Constellation Brands, up just 2.3%. Refiners and energy fill out the rest of the green.
Marathon Petroleum just set a record high at $433.47, clearing its September 18 peak by 2.02%. A refiner setting fresh highs this late in the move is not something to leave unwatched.
A 4.57% intraday gain to $411.10 is a big single session for a $115 billion refiner, adding billions in market value before lunch. Whether it holds into the close is the thing to watch.
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