Orlando, FL -- (SBWIRE) -- 09/24/2013 -- Hot Stock Profits provides investors and traders with valuable trading tools and content as well as micro-cap stock alerts via eMail and text messages. To Join Our Text Message Alerts Service Just Text The Word Stocks To 555888 From Your Cell Phone. Our Focus Today Is On Valero Energy Corporation (NYSE:VLO), Best Buy Co., Inc.(NYSE:BBY).
Valero Energy Corporation (NYSE:VLO) shares dropped 0.96% to $34.11. Valero Energy Partners LP filed with U.S. regulators on Sept. 19 to raise up to $345 million in an initial public offering of common units. The company was formed by Valero Energy Corp (VLO.N) to operate pipelines and terminals for the transportation of crude oil and refined petroleum products.
Additionally,VLO’s stock was upgraded by Zacks from an “underperform” rating to a “neutral” rating in a report issued on Sept. 17. The firm currently has a $36.00 target price on the stock. Zacks‘ target price indicates a potential upside of 4.17% from the company’s current price.
Moreover, the company on Sept. 12 increased capital-expenditure projections for next year and revealed a handful of project delays at its refineries. Valero released a slideshow ahead of a Barclays investor conference on Sept. 12. In addition, expansion projects in the Port Arthur and Lake Charles refineries in Loiuisiana were postponed to 2018 from 2015.
Are investors worried about the recent updates with VLO? Find out with a free trend analysis HERE
Best Buy Co., Inc.(NYSE:BBY) shares increased 1.54% to $38.89. BBY’s stock had its “hold” rating reiterated by stock analysts at Bank of America Corp. in a report issued on Sept. 23. They currently have a $38.00 price objective on the stock. Bank of America Corp.’s price objective points to a potential downside of 2.29% from the company’s current price.
Additionally, the company’s Chief Executive Hubert Joly raised about $10.4 million through a share sale to help cover costs for his recent divorce, a regulatory filing showed on Sept. 10.
Joly exercised an option to buy 350,467 shares at $18.02 per share on September 6, after the company's Compensation and Human Resources Committee approved a waiver of the remaining year of the CEO's two-year holding period for the stock award.
Is BBY going to continue its rally or drop like a rock? Find out with a free trend analysis HERE
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