On Monday, Shares of Phillips 66 (NYSE:PSX), gained 1.72% to $90.60.
Phillips 66, declares third-quarter earnings of $1,578 million, contrast with earnings of $1,012 million in the second quarter of 2015. Adjusted earnings were $1,647 million, an improvement of $645 million from the last quarter.
“Our best quarterly earnings this year were driven by stronger results from Refining and Marketing. Higher refining capacity utilization and product margins raised financial results for these businesses,” said Greg Garland, Chairman and CEO. “In addition, we declared our 2016 capital budget and a $2 billion improvement to the company’s share repurchase program, which reflects our commitment to disciplined capital allocation.”
Phillips 66s Midstream third-quarter adjusted earnings were $91 million, an improvement of $43 million from the second quarter.
Phillips 66’s Transportation business generated earnings of $77 million during the third quarter, an improvement of $12 million from the second quarter. Improved earnings were due to lower operating costs and raised equity earnings primarily driven by higher volumes.
Phillips 66 operates as an energy manufacturing and logistics company. It operates through four segments: Midstream, Chemicals, Refining, and Marketing and Specialties (M&S). The Midstream segment transports crude oil and other feedstocks to its refineries and other locations; and delivers refined and specialty products, in addition to provides storage services for crude oil and petroleum products.
Shares of Arena Pharmaceuticals, Inc. (NASDAQ:ARNA), inclined 14.29% to $2.16, during its last trading session.
Eisai Inc. and Arena Pharmaceuticals, declared that six posters regarding lorcaserin HCl data will be presented during Obesity Week. Hosted by The Obesity Society and the American Society for Metabolic and Bariatric Surgery, the meeting is taking place November 2-6, 2015, in Los Angeles, California.
Arena Pharmaceuticals, Inc., a biopharmaceutical company, discovers, develops, and commercializes novel drugs that target G protein-coupled receptors. The company offers BELVIQ, a drug used to treat chronic weight administration in adults.
Finally, Shares of Fastenal Company (NASDAQ:FAST), ended its last trade with 2.78% gain, and closed at $40.25.
Fastenal Company, declared its intention to host an investor presentation from its distribution center in Indianapolis, Indiana on November 5, 2015.
The hosts of this event will be Will Oberton, our President, Chief Executive Officer, and Chairman of the Board, and Dan Florness, our Executive Vice-President and Chief Financial Officer. Additionally, other Fastenal leaders will present on current operations and growth initiatives, counting FAST Solutions (industrial vending), our Onsite program, and e-commerce development.
Fastenal Company, together with its auxiliaries, engages in the wholesale distribution of industrial and construction supplies in the United States, Canada, and internationally. The company offers fasteners, and other industrial and construction supplies primarily under the Fastenal name.
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