Magellan Midstream Partners LP
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Energy : Oil, Gas & Consumable Fuels | Mid Cap Value
Company profile

Magellan Midstream Partners, L.P. is principally engaged in the transportation, storage and distribution of refined petroleum products and crude oil. The Company operates through three segments: refined products, crude oil and marine storage. As of December 31, 2016, its asset portfolio, including the assets of its joint ventures, consisted of its refined products segment, consisting 9,700-mile refined products pipeline system with 53 terminals, as well as 26 independent terminals not connected to its pipeline system and its 1,100-mile ammonia pipeline system; its crude oil segment, consisted of approximately 2,200 miles of crude oil pipelines and storage facilities with an aggregate storage capacity of approximately 26 million barrels, of which 16 million are used for contract storage, and its marine storage segment, consisted of five marine terminals located along coastal waterways with an aggregate storage capacity of approximately 26 million barrels.

Closing Price
$44.53
Day's Change
-0.81 (-1.79%)
Bid
--
Ask
--
B/A Size
--
Day's High
45.57
Day's Low
44.35
Volume
(Light)
Volume:
780,123

10-day average volume:
1,009,619
780,123

Moderna plans to sell more than $1 billion in fresh stock after COVID-19 vaccine study success

4:32 pm ET May 18, 2020 (MarketWatch)
Print

After announcing positive results of a study of its potential COVID-19 vaccine (http://www.marketwatch.com/story/modernas-stock-soars-on-compelling-early-data-for-its-coronavirus-vaccine-candidate-2020-05-18) and seeing shares jump 20% to record highs Monday, Moderna Inc. (MRNA) announced after trading closed that it will sell more than $1 billion in fresh shares. Moderna said it plans to sell $1.25 billion worth of stock to fund manufacturing and distribution of its vaccine candidate, referred to as mRNA-1273, if it can receive regulatory approvals. Moderna announced Monday morning that a phase 1 study of its vaccine was able to produce COVID-19 antibodies, and the company has laid out plans for phase 2 and phase 3 trials in the coming months. Shares closed at a record high of $80 Monday, up more than 300% from the beginning of the year, though the stock sank 2.8% in after-hours trading Monday after Moderna announced the impending arrival of new shares. Morgan Stanley is leading the offering, and Moderna expects to offer an additional $187.5 million in shares for overallotment.

-Jeremy C. Owens; 415-439-6400; AskNewswires@dowjones.com

(END) Dow Jones Newswires

May 18, 2020 16:32 ET (20:32 GMT)

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