10 Stocks Defy Market Optimism as Investor Caution Lingers

4. Valero Energy Corp. (NYSE:VLO)

Valero Energy dropped its share prices by 4.58 percent on Wednesday to finish at $121.76 apiece as investors repositioned their portfolios to minimize risks from its potential exposure to the ongoing trade war between the US and Canada.

VLO, one of the largest companies producing fuels and petrochemical products, owns and operates refineries in the US, Canada, and UK.

Just this week, President Donald Trump officially imposed a 10-percent tariff on Canadian energy imports as well as 25-percent tariffs on all Canadian goods.

VLO is expected to release its next earnings performance in April, where investors will be looking out for cues on its outlook for the year.

It is forecast to book earnings per share of $0.72 or an 81.15-percent decline from the same period a year earlier.

Meanwhile, analysts expect revenues to settle at $28.75 billion, or a 9.48-percent decline from the same period a year ago.