Even stocks that Beat like TSO getting crushed this morning.
TSO beats by .08 by is still down by -.95 to $15.25 albeit on light volume 1,500 shares.
I would have bet the farm they would have been up +3 on such news had you asked me yesterday.
Tesoro posts 4Q profit, driven by stronger margins
Friday February 20, 8:02 am ET
Tesoro reports 4Q profit on stronger margins; sales drop SAN ANTONIO (AP) -- Tesoro Corp. posted a fourth-quarter profit, driven by stronger margins, particularly in Hawaii and California, as the cost of crude oil plunged.
The independent oil refiner on Thursday reported a quarterly profit of $97 million, or 70 cents per share, compared with a loss of $40 million, or 29 cents per share, a year earlier. Excluding special items, profit was $137 million, or 99 cents per share.
a survey by Thomson Reuters, analysts said they expected a profit of 91 per share, on average. Analysts typically exclude one-time items.
Revenue for the quarter fell 34 percent to $4.33 billion, from $6.53 billion a year ago.
Analysts forecast an average revenue of $5.78 billion.
For the full-year 2008, earnings totaled $278 million, or $2 per share, compared with $566 million, or $4.06 per share, in 2007. Revenue rose 29 percent to $28.3 billion.
Tesoro said it plans to lower 2009 capital spending to $600 million, down from the 2008 spending level of $724 million.
Shares of Tesoro closed at $16.20 on Thursday.