Tesoro (TSO -2.5%) trades lower after BofA Merrill Lynch cuts it to underperform. The firm says...

|By:, SA News Editor

Tesoro (TSO -2.5%) trades lower after BofA Merrill Lynch cuts it to underperform. The firm says Valero (VLO -1.4%) and Marathon Petroleum (MPC -1.2%) offer a better "combination of value, operational catalysts and earnings leverage" among large-cap refining companies.