Murphy Oil (MUR) +7.3% premarket after announcing it will spin off its U.S. downstream business...

|About: Murphy Oil Corporation (MUR)|By:, SA News Editor

Murphy Oil (MUR) +7.3% premarket after announcing it will spin off its U.S. downstream business into an independent company. MUR also authorizes a $2.50/share special dividend and $1B share buyback program, and says it’s still working to divest its U.K. downstream operations and continuing to review options with respect to "selected assets."