Drop Tesoro (TSO) before it’s too late
Today's Financial News - Posted January 28, 2009
Baltimore— (TFN): On Tuesday, Valero Energy Corp. (NYSE:VLO) announced a $3.29 billion loss in Q4.
Bill Klesse, Valero’s Chairman and CEO, said in the company’s earnings release, “Looking at market conditions for the coming year, the sluggish economy is clearly a headwind against demand growth for refined products.”
Tesoro Corporaton (NYSE:TSO) is fairing better than analysts estimates, according to preliminary Q4 results.
But I’m feeling the same headwind as Mr. Klesse.
Gasoline prices are again on the rise and I don’t hear many folks ramping up the road trips.
If you’re holding onto shares of Tesoro from my July 23, 2008 recommendation, you should be in positive territory – just.
I suggest you sell all shares of Tesoro Corporation (NYSE:TSO).
Next Article: Time to junk Javo Beverage (JAVO)
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