Coming Soon (Again) To The Big Board: Sunoco

English: Sunoco Logo (Photo credit: Wikipedia)

Sunoco’s storied name, absent from the New York Stock Exchange since the Philadelphia company was acquired by a Dallas energy firm in 2012, will return to the Big Board this year.

Energy Transfer Partners L.P. (ETP), a Dallas pipeline company that became Sunoco Inc.’s parent company two years ago, announced Thursday night that it will give its recently acquired Texas convenience-store company, Susser Petroleum Partners, a new name that is kind of an old one – Sunoco L.P.

The new Sunoco L.P., which will trade under the ticker symbol SUN, will eventually become the corporate umbrella for ETP’s growing portfolio of fuel stations and convenience stores, including Sunoco Inc. ETP had said it intended to drop its retail assets into the Susser partnership when it announced the $1.8 billion acquisition in April.

Read more at http://www.philly.com/philly/business/20140927_Coming_soon__again__to_the_Big_Board__Sunoco.html#D5YWhWdiMwxH7yS5.99

RadioShack Corp. To Close 1,100 Stores, Company Reports

English: A Radio Shack store in the Plaza Caracol shopping center on Boulevard Francisco Medina Ascensio in the city of Puerto Vallarta, Jalisco, Mexico. (Photo credit: Wikipedia)

RadioShack Corp. said it plans to close up to 1,100 stores in the U.S. and reported a wider quarterly loss after a disappointing holiday season.

Its stock tumbled 24 percent in premarket trading today and was down 11 percent at 2.42 after opening on the New York Stock Exchange.

CEO Joseph Magnacca said in statement that the store closings would leave RadioShack with more than 4,000 U.S. stores, including more than 900 dealer franchise locations. The company didn’t immediately identify which stores will be closed or how many jobs would be affected.

There are several stores in the Lehigh Valley, including stores within a mile of each other in Palmer Township.

Read more: http://www.lehighvalleylive.com/breaking-news/index.ssf/2014/03/radioshack_to_close_1100_store.html

PA-NY-NJ Picking Up After Hurricane Sandy’s Epic Devastation

The sodden, wind-blown tri-state region of New York, New Jersey and Pennsylvania began an arduous journey back to normal on Wednesday after mammoth storm Sandy killed at least 82 people in a rampage that swamped coastal cities and cut power to millions across the Northeast.

Financial markets reopened with the New York Stock Exchange running on generator power after the first weather-related two-day closure since an 1888 blizzard. Packed buses took commuters to work with New York’s subway system idle after seawater flooded its tunnels.

The U. S. Navy said it was moving ships closer to areas affected by the disaster in case they might be needed, including the helicopter carrier USS Wasp.

Sandy killed 69 people in the Caribbean as a hurricane before crashing ashore just south of Atlantic City, N.J. Monday night as Post-Tropical Cyclone Sandy, which became a rare hybrid superstorm after merging with another weather system to deliver 80 mile-per-hour winds and record storm surges.

Read more: http://www.mcall.com/news/breaking/mc-ny-nj-hurricane-sandy-update-1101-20121101,0,5611775,full.story

AOL To Sell 800 Patents To Microsoft For $1 Billion

The second logo for AOL, used from 2006–2009 (Photo credit: Wikipedia)

(Reuters) – AOL Inc said it would sell over 800 of its patents and related applications to Microsoft Corp , and would grant Microsoft a non-exclusive license to the patents it retains, for slightly over $1 billion in cash.

AOL’s shares jumped 37 percent to $25.16 in trading before the bell on Monday. They closed at $18.42 on Friday on the New York Stock Exchange.

The Internet company said it plans to return a “significant portion of the sale proceeds” to shareholders.

Read more: http://www.mcall.com/business/sns-rt-us-aol-microsoftbre83809x-20120409,0,3464198.story

PPL’s Profit, Revenue Surge

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PPL Corp.’s annual profit surged in 2011 on revenue from recent out-of-state acquisitions.

The Allentown energy company earned $1.44 billion, or $2.61 per share, up from $938 million, or $2.17 per share, in 2010.

The whopping 53 percent increase was largely driven by additional revenue from PPL’s recently-acquired Kentucky and United Kingdom utilities.

“This increase reflects the strength of our business portfolio and our prospects for future growth,” James H. Miller, PPL’s out-going chairman said in a press release. “Our strong 2011 results are due to solid performance across our business segments.”

Read more: http://www.mcall.com/business/mc-ppl-earnings-20120210,0,3573342.story

Philly Based Sunoco To Exit Refining Business – Conducting Strategic Review

PHILADELPHIA, Sep 06, 2011

Sunoco, Inc. (NYSE: SUN) announced today that it plans to exit its refining business and has begun a process to sell its refineries located in Philadelphia and Marcus Hook, Penn. Sunoco also announced that it is conducting a comprehensive strategic review of the company to determine the best way to deliver value to shareholders, including how best to utilize the company’s strong cash position and maximize the potential for Sunoco’s logistics and retail businesses. Credit Suisse Securities (USA) LLC has been retained to assist in the review process.

Sunoco will pursue all options to sell its refineries, but if a suitable transaction cannot be implemented, the company intends to idle the main processing units at the facilities in July 2012…

To read the rest of the press release, click here: http://phx.corporate-ir.net/phoenix.zhtml?c=99437&p=irol-newsArticle&ID=1603618&highlight=