Shares of Tesoro (TSO) have seen some volatility in recent days. Last week Wednesday, the refiner and marketer of transportation fuels reported its third quarter results. Shareholders were not impressed last week, but shares rose almost 10% in Monday's and Tuesday's trading session. Tightness in the Californian gasoline market and delivery problems in the Northeast after the superstorm Sandy are causing a lot of volatility for refiner stocks.
Third Quarter Results
Tesoro reported third quarter revenues of $8.78 billion, up 8.3% on the year. Revenues beat analysts consensus of $8.51 billion.
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