We recently compiled a list of the 10 Stocks Defy Market Optimism as Investor Caution Lingers. In this article, we are going to take a look at where Valero Energy Corporation (NYSE:VLO) stands against the other stocks.
The stock market stood its ground on Wednesday, with all major indices eking out gains as President Donald Trump softened trade restrictions for three large automakers, reviving hopes that the trade war may not be as bad as it seemed.
The Dow Jones grew 1.14 percent, the S&P 500 rose by 1.12 percent, while the tech-heavy Nasdaq jumped 1.46 percent.
On Wednesday, the White House granted three large automakers a one-month exemption from tariffs after a call with the president, sending their share prices higher during the session.
Ten firms, however, bucked an overall optimism, recording modest declines during the past trading session. In this article, we have listed the 10 names and detailed the reasons behind their performance.
To come up with Wednesday’s worst performers, we considered only the stocks with $2 billion in market capitalization and $5 million in daily trading volume.
Massive storage tanks filled with crude oil and diesel fuels at an oil refinery.
Valero Energy Corporation (NYSE:VLO)
Valero Energy Corporation (NYSE:VLO) 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.
Valero Energy Corporation (NYSE: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.
Valero Energy Corporation (NYSE: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.
Overall VLO ranks 4th on our list of Wednesday’s worst performers. While we acknowledge the potential of VLO as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than VLO but trades at less than 5 times its earnings, check out our report about the cheapest AI stock.
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Disclosure: None. This article is originally published at Insider Monkey.
