...and later claims that the drops in their stock shows the panning was sound. The original article claimed that there was more to the gasoline consumtion drop than hard times: Americans are trading in less fuel-efficient cars for more fuel-efficient ones, a trend that the author claims is a long-term one.
The two stocks mentioned as evidence were Sunoco Inc. and Tesoro. The former dropped 1.86% in regular trading, but the latter only dropped 0.78% Tesoro's decline was about in line with the overall market, and Sunoco's was fairly gentle compared to some other oil stocks. Both were up in after-hours trading, too. Perhaps Barron's Online was a little eager to showcase the work, although time will tell.
Interestingly, another Bin stock in refining got slaughtered today, but was not mentioned by Barron's. Recent high-flyer Holly Corp. was down 4.07%, and was unchanged in after-hours trading.
Update: Perhaps I spoke too soon. Sunoco was slaughtered the following day, with a 4.68% plummet in its stock. On the other hand, Tesoro was down only 0.85%. Its two-day drop was less than the S&P 500's one-day September 1st drop.
Update 2: Tesoro's being hammered now. So, it seems I did speak too soon.
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