Sunoco (SUN) Shares Fall On Goldman 'Sell' Rating, Continues Downward Trend
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Sunoco, Inc. (NYSE: SUN) share are trading lower today, down about 3% to $26.39.
Sunoco received a downgrade to Sell from Goldman Sachs today. Goldman also added the energy company to their Conviction Sell list, citing structural challenges.
In addition, the stock has slipped since their Q309 earnings report. The Company reported a loss of $0.29 per share, far below the analyst estimate of ($0.11). The CEO, Lynn Elsenhans, commented that Sunoco sees a challenging market for petroleum and chemical products. Sunoco also responded by shutting down their Eagle Point refinery to cut costs and stop the bleeding.
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