Filed under: Major movement, Top Picks 2007, Valero Energy (VLO), Bargain stocks, Chasing Value, Oil, Headline news, Stocks to Buy, Best Stocks for 2008

Despite reporting a 49% drop in fourth quarter earnings, Valero Energy Corporation (NYSE: VLO) beat Wall Street expectations by 38 cents, and you know what that usually means — the stock jumped.

Valero was able to take advantage of price spreads on crude in the fourth quarter that were obviously not a part of analysts’ estimates which they are no doubt changing as we speak.

According to the AP: “In 2008, Valero officials said they expect gasoline markets to return to more seasonal patterns, with margins improving during the summer driving season. Diesel margins were expected to be strong because inventories are lower than last year and demand remains strong, said Chairman and CEO Bill Klesse.”

Continue reading Chasing Value: Valero jumps 10% on lower earnings

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This entry was posted on Wednesday, January 30th, 2008 at 1:21 am and is filed under Stocks Money News. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.