After sifting through the latest earnings from Marathon Petroleum, Jim Cramer doesn’t think $82 makes sense.» Read More
--Marathon Petroleum Corp. announced that it will acquire BP PLC's Texas City refinery and related assets for $598 million, plus an additional $1.2 billion for inventories. Rating Action On Oct. 8, 2012, Standard& Poor's Ratings Services affirmed its' BBB' and' A-2 ratings' on U.S.-based Marathon Petroleum Corp. The outlook is stable.
Take a look at some of Monday's midday movers:
U.S. stocks declined after the World Bank cut growth forecasts for East Asia, highlighting concerns about the global economic climate and corporate profits on the cusp of the quarterly earnings season.
*Marathon to purchase refinery for $598 million. Oct 8- Marathon Petroleum Corp struck a deal to buy BP's Texas City refinery and related infrastructure for up to $2.5 billion, a purchase that would make Marathon the fourth-largest refiner in the United States.
*Marathon to purchase refinery for $598 million* Inventory worth around $1.2 billion* Marathon could pay up to another $700 mln over 6 years. Marathon Petroleum's shares rose to $56.38 in pre-market trading, after closing on Friday on the New York Stock Exchange at $54.87.
NEW YORK-- BP has finally found a buyer for its Texas City refinery, one of the largest and most complex in the U.S. Marathon Petroleum Corp. will pay only $598 million for the refinery itself and other nearby pipelines and fuel terminals. The Texas City refinery has a troubled history.
*Marathon to purchase refinery for $598 million. HOUSTON, Oct 8- Marathon Petroleum Corp struck a deal to buy BP Plc's Texas City refinery and related infrastructure for up to $2.5 billion, a purchase that will make Marathon the fourth-largest U.S. refiner and give it a bigger potential slice of the market for refined product exports.
-Minh Phu Seafood Group, a major shrimp exporter, said Vietnam Investment Fund II Ltd has sold all the 3.5 million MPC shares in the fund's possession. -The government has decided to expand the Cat Bi airport in the northern port city of Haiphong to be able to handle international flights, with investment slated by 2015 of 5 trillion dong, the Transport Ministry said.
WASHINGTON, Oct 2- Last year's sale from U.S. emergency crude oil reserves has helped battle shrinking capacity or "creep" at the 62 salt caverns in Texas and Louisiana that form the Strategic Petroleum Reserve, the Energy Department's inspector general said on Tuesday.
Jim Cramer’s researcher, Nicole Urken, takes a look at some pockets of value creation in this unpredictable market.
Here are eight stocks cited by S&P Capital IQ as being poised for long-term gains based on North America’s booming oil production, arranged in inverse order of analysts’ most positive ratings.
Now that ConocoPhillips has spun off Phillips 66, Cramer comments on which stock he prefers, if either.
TheStreet.com details three gold-mining stocks and six oil stocks that S&P Capital IQ analysts say will likely benefit from the current world oil supply scenario.
Every quarter hedge funds and large investors file their holdings with the SEC, revealing value picks, cyclical bets, growth opportunities and activist pushes. TheStreet.com details five stocks that hedge funds flocked to.
Barry Rosenstein, founder of Jana Partners, is best known as an activist investor. The hedge fund manager made intriguing moves in the fourth quarter, buying more shares of Apple and making an outsized bet on Marathon Petroleum.
Take a look at some of Wednesday morning's early movers:
Cramer makes the call on viewers' favorite stocks.
Midwest refiners may be in the sweet spot for profits.
"I’m not sure the market loved this move," says top Deutsche analyst Paul Sankey on the Halftime Report.