SUN - Sunoco - Page 5

All the refiners took it today. VLO and SUN are both pretty much dead again but could be another bottom if anyone wants a play. The options seem relatively cheap for now.

I had a good trade off SUN and FTO last month, I would be interested in playing them again, but I want to see some fresh lows first.

WSJ - Sunoco’s chief executive said she will hand leadership of the company to its finance chief as the refiner swung to a sharp pretax loss in the fourth quarter. The company also unveiled plans to buy back about 20% of its common shares over the next 12 to 18 months and boosted its quarterly dividend by 33%, to 20 cents apiece. Sunoco shares were up 7.2% to at $41 premarket following the shareholder-friendly moves.

ETP buys SUN for $5.3B

 

Sunoco Inc. has agreed to be acquired by Energy Transfer Partners in a deal valued at more than $5 billion Hot on the heels of its deal to acquire Houston-based Southern Union Co.