Marathon Petroleum Sells Speedway, Plans $10B Stock Buyback

Marathon Petroleum (MPC) has completed the sale of its Speedway convenience-store chain for $21 billion to retailer 7-Eleven. It plans to use the proceeds to buy back shares and pay debts. Marathon is an American fuel company whose operations include oil refining. It decided to sell Speedway as part of a restructuring plan.“The close of the […]

7-Eleven's purchase of Speedway chain closed at 'own risk' -FTC officials

The completion of 7-Eleven’s purchase of thousands of Speedway gas and convenience stores is potentially illegal and may raise competitive concerns in hundreds of local U.S. markets, two top officials at the U.S. Federal Trade Commission said on Friday. Source: Industry Insights

Seven & I Holdings Co, Marathon Petroleum merger agreement closed 'at their own risk' -officials

Seven & I Holdings Co Ltd’s announcement it had pressed forward in its merger agreement with Marathon Petroleum Corp is potentially illegal and may raise significant competitive concerns in hundreds of local gasoline and diesel fuel markets across the United States, two U.S. Federal Trade Commission officials said on Friday. Source: Industry Insights

Notable Friday Option Activity: EXPE, MPC, UAL

Among the underlying components of the S&P 500 index, we saw noteworthy options trading volume today in Expedia Group Inc (Symbol: EXPE), where a total of 13,255 contracts have traded so far, representing approximately 1.3 million underlying shares. That amounts to about 4 Source: Industry Insights

U.S. fuel supplies tighten as energy pipeline outage enters fifth day

Supplies of gasoline tightened further in parts of the United States on Tuesday as the shutdown of the nation’s biggest fuel pipeline by hackers entered its fifth day, raising concern about price spikes at the pumps ahead of the summer driving season. Source: Industry Insights

Traders book tankers to store fuel after U.S. pipeline outage

Traders booked at least four tankers to store refined oil products off the U.S. Gulf Coast refining hub following a cyber attacks that knocked out the top U.S. pipeline, shipping data showed on Tuesday.[nL1N2MX0S1] Source: Industry Insights

After Hours Most Active for May 7, 2021 : GE, ENLC, MPC, SNOW, TWTR, BAC

The NASDAQ 100 After Hours Indicator is down -.75 to 13,718.88. The total After hours volume is currently 111,238,964 shares traded.The following are the most active stocks for the after hours session: General Electric Company (GE) is -0.01 at $13.29, with 4,779,614 shares trade Source: Industry Insights