Will Valero Energy (VLO) Beat Earnings Estimates This Quarter?

One of the largest North American independent refiner and marketer of petroleum products, Valero Energy Corporation (VLO) is set to report its second-quarter 2013 results on Jul 23. Let?s see how things are shaping up prior to the announcement.

In the last quarter, the company?s earnings of $1.18 per share beat the Zacks Consensus Estimate of $1.01 by 16.8%. The quarterly results were aided by higher refining throughput margins in each of the company?s regions, except the U.S. West Coast, along with lower refining operating expenses.

Growth Factors this Past Quarter

In the first quarter, Valero witnessed refining throughput volumes of approximately 2.57 million barrels per day, marginally up from the year-earlier level of 2.56 million barrels a day. This was primarily backed by major turnaround, maintenance and repair activity at refineries in Valero?s U.S. Gulf Coast region, including the Texas City, Corpus Christi and Port Arthur refineries; and at its Benicia and Wilmington refineries in the U.S. West Coast region.

By feedstock composition, sweet crude, medium/light sour crude and heavy sour crude accounted for 42%, 16% and 19%, respectively. The remaining volumes came from residuals, other feedstock as well as blendstocks and others. The Gulf Coast accounted for approximately 55% of the total volume. The Mid-Continent, North Atlantic and West Coast regions accounted for 17%, 19% and 9%, respectively.

Valero?s stable performance in the first quarter can be traced back to favorable refining margins and lower operating expenses.

More importantly, Valero is best positioned to profit from increased refining margins mainly on account of its strategic refinery structure that enables it to use cheaper oil for over one-half of its needs.

Valero recently spun off 80% stake of its retail arm ? CST Brands Inc. (CST) ? through a tax-advantaged distribution to shareholders, to unlock value on May 1, 2013. The spin-off of the company's retail arm generated an immediate net cash benefit of $500 million, after shelling out $220 million in taxes. We feel that the move would help the company to concentrate on its industry-specific strategies.

However, being the largest independent refiner in the country, Valero remains exposed to the ongoing tepid macro backdrop. Refiners in the U.S. generally face uncertainty regarding future regulations pertaining to greenhouse gas emissions and the potential for higher requirement of biofuels. Other threats include government regulations, weather conditions, crude oil and natural gas prices as well as renewable fuel prices. These can result in increased costs, reduced growth and fines or other sanctions.

Earnings Whispers?

Our proven model does not conclusively show that Valero is likely to beat earnings estimates this quarter. This is because a stock needs to have both a positive earnings Expected Surprise Prediction or ESP (Read: Zacks Earnings ESP: A Better Method) and a Zacks Rank #1, 2 or 3 for this to happen. This is not the case here as you will see below.

Zacks ESP:? The earnings ESP for the stock is 0.00%.

Zacks Rank #3 (Hold): Valero?s Zacks Rank #3 (Hold) when combined with a 0.00% ESP makes surprise prediction difficult.

We caution against stocks with Zacks Ranks #4 and 5 (Sell rated stocks) going into the earnings announcement, especially when the company is seeing negative estimate revisions.

Other Stocks to Consider

Here are some other companies you may want to consider as our model shows that these have the right combination of elements to post an earnings beat this quarter: ?

Ferrellgas Partners LP (FGP) with earnings ESP of +6.90% and a Zacks Rank #1 (Strong Buy).

W&T Offshore Inc. (WTI) with earnings ESP of +9.09% and a Zacks Rank #1 (Strong Buy).
?

Read the Full Research Report on VLO

Read the Full Research Report on FGP

Read the Full Research Report on WTI

Read the Full Research Report on CST

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Source: http://news.yahoo.com/valero-energy-vlo-beat-earnings-185002795.html

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Deal of the Day ? Dell XPS 12 Core i5 convertible 1080p touchscreen tablet with Windows 8

Saturday’s LogicBUY Deal is the configurable?12.5″ Dell XPS 12 convertible tablet. starting at $999.99. ?Features: Converts from a laptop to a tablet 12.5? full-HD, 1080p 400nit touchscreen display with 160-degree viewing angle Constructed of?machined aluminum, bonded Corning Gorilla Glass, and carbon fiber $1199.99 – $100 savings – $100 coupon code = $999.99 with free shipping. [...]

Source: http://the-gadgeteer.com/2013/07/20/deal-of-the-day-dell-xps-12-core-i5-convertible-1080p-touchscreen-tablet-with-windows-8-2/

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Eric Garcetti to be sworn in as new mayor of Los Angeles

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Source: http://abclocal.go.com/kabc/story?section=news/politics&id=9157094&rss=rss-kabc-article-9157094

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Cattle flatulence doesn't stink with biotechnology: Farmers could improve air quality by using hormones

July 1, 2013 ? The agriculture industry is researching new technologies to help feed the growing population. But feeding the world without harming air quality is a challenge.

According to a new article in Animal Frontiers, biotechnologies increase food production and reduce harmful gas output from cattle.

"We are increasing the amount of product with same input," said Clayton Neumeier, PhD student at University of California, Davis, in an interview.

In the Animal Frontiers paper, Neumeier describes a recent experiment using biotechnologies. In the experiment, a test group of cattle were treated with biotechnologies. Different groups of cattle received implants, Ionophores and Beta-adrenergic agonists. These biotechnologies help cattle grow more efficiently. A control group of cattle were not treated with any of these biotechnologies.

Researchers measured gas output by placing finishing steers in a special corral that traps emissions. Each treatment group was tested four times to ensure accurate results.

The researchers also tested a dairy biotechnology called rBST. This biotechnology is a synthetic version of a cattle hormone that does not affect humans. Many producers inject cows with rBST to help them produce more milk.

In their experiment, the researchers gave rBST to a test group of cows and gave no rBST to a control group of cows. They discovered that the rBST group produced more milk per cow. When cows produce more milk, greenhouse gas emissions decrease because farms need fewer cows.

Dr. Kim Stackhouse, National Cattleman's Beef Association Director of Sustainability, said animal agriculture has reduced emissions through the use of technologies. Technologies that improve animal performance, crop yields, and manure management and the installation of biogas recovery systems have all contributed to reducing the environmental impact of beef.

Biogas recovery systems are used in processing facilities to produce energy from animal waste. Animal waste is collected in lagoons, where the gas is captured. The gas is transported through an internal combustion area that produces energy for heat and electricity.

"I expect there to be more improvement as we continue be more efficient, continue to do more with less and also strive to find new improvement opportunities," Stackhouse said.

Some consumers do not like the use of biotechnology in food production. Neumeier thinks these consumers are unaware of the benefits of biotechnology. His research shows that biotechnology can produce more food and lower gas emissions.

"We need to inform them that these are valuable tools for those two reasons and not be turned off by the use of biotechnology," Neumeier said.

Source: http://feeds.sciencedaily.com/~r/sciencedaily/top_news/~3/iumqbtxbUTc/130701163939.htm

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Silvio Berlusconi: Associate describes 'excess' at bunga bunga parties

Silvio Berlusconi: A close associate of the former Italian prime minister described his bunga bunga parties as 'excess, abuse of power and degradation.' On Monday, Burlusconi was sentenced to seven years in jail for paying for sex with a minor and abuse of office.

By Sara Rossi and James Mackenzie,?Reuters / June 29, 2013

Former Italian Premier Silvio Berlusconi attends the presentation of a book in Rome in September 2012. Berlusconi suffered one of his most damaging setbacks yet as a court on Monday, sentenced him to seven years in prison and a lifetime ban from politics for paying an underage prostitute for sex and forcing public officials to cover it up.

Alessandra Tarantino/AP/File

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A close associate of?Silvio?Berlusconi?said on Friday he agreed with descriptions of "bunga bunga" parties at the former prime minister's palatial residence as "excess, abuse of power and degradation."

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Show-business agent Lele Mora, one of three people charged with aiding and abetting under-aged prostitution, told a court in?Milan?that he had taken young women to the parties and had received a loan from?Berlusconi.

In his declaration to the court, he denied that he had pushed the women into prostitution but delivered an unusually severe judgement on the evenings, which?Berlusconi?has repeatedly described as "elegant dinners."

"Yesterday I read three words in a newspaper that described what happened and what you are judging today: excess, abuse of power and degradation. It's true, that is how it was," he said.

A?Milan court?sentenced?Berlusconi?on Monday to seven years in jail and banned him from public office after convicting him of paying for sex with a minor and of abuse of office. He will remain free pending the outcome of his appeals, expected to take several years to resolve.

Prosecutors have presented evidence describing unbridled scenes involving young women stripping and performing raunchy dances at?Berlusconi's parties and being rewarded with envelopes stuffed with thousands of euros in cash.

The case, one of a series facing the 76-year-old centre-right leader and billionaire media tycoon, has compounded the tensions in Prime Minister?Enrico Letta's governing coalition, which depends on?Berlusconi's People of Freedom (PDL) party.

Speaking in?Brussels?on Friday, Letta, from the centre-left?Democratic Party?(PD), repeated that he was confident the PDL would continue to support his government.

Prosecutors say that Mora, a longstanding associate of?Berlusconi, helped recruit young women, including Karima El Maroug, the former teenaged nightclub dancer known as "Ruby the Heartstealer" who is at the centre of the case.

They are seeking a seven-year sentence for Mora and for his co-defendants?Emilio Fede, a former newscaster on one of?Berlusconi's television stations, and?Nicole Minetti, a former dental hygienist who later became a PDL regional councillor.

Mora's lawyers have denied that his involvement constituted an offence and have asked for him to be cleared of the charges.

Berlusconi?voiced outrage at the verdict in his own trial, which he said was politically motivated, and repeated that he was "absolutely innocent".?

Source: http://rss.csmonitor.com/~r/feeds/csm/~3/rCO3LuL3cu0/Silvio-Berlusconi-Associate-describes-excess-at-bunga-bunga-parties

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Genomic atlas of gene switches in plants provides roadmap for crop research

June 30, 2013 ? What allows certain plants to survive freezing and thrive in the Canadian climate, while others are sensitive to the slightest drop in temperature? Those that flourish activate specific genes at just the right time -- but the way gene activation is controlled remains poorly understood.

A major step forward in understanding this process lies in a genomic map produced by an international consortium led by scientists from McGill University and the University of Toronto and published online today in the journal Nature Genetics.

The map, which is the first of its kind for plants, will help scientists to localize regulatory regions in the genomes of crop species such as canola, a major crop in Canada, according to researchers who worked on the project. The team has sequenced the genomes of several crucifers (a large plant family that includes a number of other food crops) and analyzed them along with previously published genomes to map more than 90,000 genomic regions that have been highly conserved but that do not appear to encode proteins.

"These regions are likely to play important roles in turning genes on or off, for example to regulate a plant's development or its response to environmental conditions," says McGill computer-science professor Mathieu Blanchette, one of the leaders of the study. Work is currently underway to identify which of those regions may be involved in controlling traits of particular importance to farmers.

The study also weighs in on a major debate among biologists, concerning how much of an organism's genome has important functions in a cell, and how much is "junk DNA," merely along for the ride. While stretches of the genome that code for proteins are relatively easy to identify, many other 'noncoding' regions may be important for regulating genes, activating them in the right tissue and under the right conditions.

While humans and plants have very similar numbers of protein-coding genes, the map published in Nature Genetics further suggests that the regulatory sequences controlling plant genes are far simpler, with a level of complexity between that of fungi and microscopic worms. "These findings suggest that the complexity of different organisms arises not so much from what genes they contain, but how they turn them on and off," says McGill biology professor Thomas Bureau, a co-author of the paper.

Source: http://feeds.sciencedaily.com/~r/sciencedaily/most_popular/~3/97SI62s6rJ8/130630144921.htm

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University of Michigan activates antimatter 'gun,' cartoon supervillians twirl moustaches anew

At the University of Michigan, an international team of physicists has begun experimenting with its tabletop-sized super laser, modding it into an antimatter "gun." It's not quite a black hole-firing pistol, but we're slightly terrified nonetheless. Up until now, machines capable of creating positrons -- coupled with electrons, they comprise the energy similar to what's emitted by black holes and pulsars -- have needed to be as large as they are expensive. Creating these antimatter beams on a small scale will hopefully give astrophysicists greater insight into the "enigmatic features" of gamma ray bursts that are "virtually impossible to address by relying on direct observations," according to a paper published at Arvix. While the blasts only last fractions of a second each, the researchers report each firing produces a particle-density output level comparable to the accelerator at CERN. Just like that, the Longhorns/Wolverines super-laser arms-race begins again.

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Via: Gizmodo, PhysOrg

Source: Arvix

Source: http://feeds.engadget.com/~r/weblogsinc/engadget/~3/Juqe16JsF8I/

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