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

UPDATE: Dow stumbles 390 points lower to end down sharply as report throws cold water on Moderna's coronavirus vaccine candidate

4:58 pm ET May 19, 2020 (MarketWatch)
Print

The Dow Jones Industrial Average ended sharply lower Tuesday, with losses gathering steam within the final minutes of trading, as investors pointed to a report on Moderna Inc., as one possible catalyst for the dip for the blue-chip index. Stat News in a Tuesday afternoon report attempted to throw some cold water on an upbeat study released by Moderna (MRNA) about its coronavirus vaccine candidate. The Stat News article (https://www.statnews.com/2020/05/19/vaccine-experts-say-moderna-didnt-produce-data-critical-to-assessing-covid-19-vaccine/) said that the Moderna report on its experimental remedy for COVID-19 lacked sufficient data. The report of early success from the Moderna vaccine candidate was one of the key catalysts for markets soaring a day ago. The Dow closed down by about 391 points, or 1.6%, at 24,207, the S&P 500 index closed down 1.1% at about 2,923 and the Nasdaq Composite Index ended 0.5% lower at 9,185, giving up its gains for the day in the final half-hour of trading. Moderna shares, meanwhile, finished down by 10.4% in late Tuesday action after a 13% surge on Monday which brought it to a record close (http://www.marketwatch.com/story/modernas-stock-soars-on-compelling-early-data-for-its-coronavirus-vaccine-candidate-2020-05-18). Meanwhile, Boston Federal Reserve President Eric Rosengren during a CNBC interview (https://www.cnbc.com/video/2020/05/19/boston-fed-president-rosengren-says-reopening-may-be-premature.html?&qsearchterm=Rosengren) cautioned that businesses reopening may be "premature" as Americans continue to contend psychologically with the COVID-19 pandemic. Rosengren suggested that demand from consumers may still be an issue as the economy attempts to restart from coronavirus-induced closures. The Fed officials comments come after Fed Chairman Jerome Powell and Treasury Secretary Steven Mnuchin Tuesday morning were grilled by the Senate Banking Committee about why funding from the $2 trillion economic-relief package approved by Congress legislation remains unspent.

-Mark DeCambre; 415-439-6400; AskNewswires@dowjones.com

(END) Dow Jones Newswires

May 19, 2020 16:58 ET (20:58 GMT)

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