NYSE:SUNOil and Gas
Sunoco (SUN) Stock Drops Despite Higher EBITDA Outlook And Cash Flow Strength
Sunoco stock closed at US$74.33, down about 4% on the day, even as the company posted one of its cleanest profit beats in recent quarters. The core story is not the single quarter earnings per share print. The headline is the upgraded full year adjusted earnings before interest, tax, depreciation and amortization guidance to US$3.5b to US$3.7b, backed by almost US$1b of adjusted EBITDA in the quarter.
Short term traders focused on the price drop. Long term holders are looking at that higher...