08:35 AMTesoro (TSO): Q3 EPS of $0.24 beats by $0.23. Revenue of $4.74B in-line. Expects to spend less than its stated capex budget of $600M. Shares +3.7% premarket. (PR)
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11:14 AMTesoro (TSO): Sees Q4 EPS of $0.60-0.75 vs. $0.48 consensus. Says it's discovered "one material account as to which collection in the ordinary course of business was deemed to be unlikely." Shares -3.5%. (PR)
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09:29 AM
Pre-market gainers: MS +57%. GM +42%. NWL +26%. TSO +25%. AA +22%.
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Wednesday, September 3, 2008
16:46 PM
Energy stocks struggled Wednesday, with the exception of refiners which soared on the heels of speculative trading in Frontier Oil (FTO) options. With oil below $110, refiners may be attractive buyout candidates. FRO +9%. TSO +8%. VLO +5%.
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