Today’s earnings report from Archer Daniels Midland (NYSE:ADM) not only missed analyst’s targets, but may have missed the broad side of the barn. Analyst expected EPS of $0.67, and got EPS of…
Valero Energy Corp. (NYSE:VLO) reported more bad news this morning on the earnings front, even though the bad news isn’t as bad as many feared. Second quarter income from continuing operations totaled…
Douglas A. McIntyre Marathon Oil (NYSE:MRO) stock is indicated lower this morning in pre-open trading following release of the company’s interim update for the second quarter. Shares of Tesoro Corp. (NYSE: TSO) and Valero Corp.…
As we’ve pointed out earlier, oil refining is not the business to be in these days. Refiners have been hit hard by skyrocketing crude oil prices because they are unable to pass…
Douglas A. McIntyre If you thought this was a bad day for the market with the DJIA trading well under that 12,000 psychological level, there were some 400 stocks that hit 52-week lows today when…
Reuters is reporting that ExxonMobil Corp. (NYSE:XOM) plans to sell the 1,400 retail outlets it owns and the 820 it operates over the next several years. The company doesn’t want to fool…
We’ve seen several analyst calls on Wall Street this morning out of the oil patch, and here are some of the key calls: Hess (NYSE: HES), Sunoco (NYSE: SUN), and Tesoro (NYSE:…
Cheniere Energy, Inc. (AMEX: LNG) can thank its earnings or lack thereof today for its implosion. Shares were down well over 20% at last look around $5.78, while its 52-week trading range…
Valero Energy Corp. (NYSE: VLO) has announced that it signed an agreement to purchase 72 convenience stores and fueling kiosks from Albertson’s LLC. The financial terms of the acquisition were not disclosed,…
Douglas A. McIntyre This morning we have some key earnings from the likes of National-Oilwell Varco (NYSE:NOV) and Hess Corporation (NYSE:HES), and it wouldn’t be fair to pint out the solar earnings competition from First…
Valero Energy Corp. (NYSE:VLO) has reported 2008 first quarter income of $261 million, or $0.48 EPS, compared with income of $1.1 billion and $1.77 EPS for the first quarter of 2007. After…
Shares of Valero Energy Corp. (NYSE: VLO) are getting a haircut in after-hours trading. High oil prices that get out of control hurt refiners because their costs escalate more than the margins…
Douglas A. McIntyre If gasoline prices move from their current average price of $3.20 to $5, the cost of fuel for a family that spends $50 a week for gas would move up over $1,000…
According to Reuters, central banks are uniting to ease the credit crisis. Reuters writes that Google (GOOG) got EU approval to buy DoubleClick and its shares rose. Reuters reports that Caterpillar (CAT)…
Valero Corp. (NYSE: VLO) shares are trading up almost 10% after the company posted earnings. Valero has been what seems like habitually hampered with higher refining costs more than it has been…
Douglas A. McIntyre 