Valero Energy (NYSE:VLO) +1.6% AH after its board approves the spinoff of its retail business,...

Valero Energy (NYSE:VLO) +1.6% AH after its board approves the spinoff of its retail business, CST Brands. VLO said last summer it would explore options for the gasoline and convenience stores it owns in the U.S. and Canada, including a spinoff that gives its shareholders ownership of the retail unit.