TMCnet News
Valero Energy Depleted on Q1 Tax Charges (VLO)Mar 26, 2010 (SmarTrend News Watch via COMTEX) -- 3/26/2010-Shares of Valero Energy (NYSE:VLO) are trading 2.2% lower to $19.42 Friday after the largest independent U.S. refiner said it expected to take a first-quarter charge of $15 million to $20 million due to the tax impact of a new healthcare law. "There will be further tax costs due to the legislation in the future, but we don't have calculations on those yet," Valero spokesman Bill Day said in a emailed statement to Reuters. Write to Chip Brian at [email protected] --------------------------------------------------------------------------------------------- SmarTrend analyzes over 5,000 securities simultaneously throughout the trading day and provides its subscribers with trend change alerts in real time. To get a free trial of our trading calls and maximize your trading results, please visit http://www.TradeTheTrend.com Get exclusive, actionable insight into how the market is expected to trend prior to market open with our free morning newsletter. Sign up at: http://www.TradeTheTrend.com/signup [ Back To TMCnet.com's Homepage ] |