Western Refining Down 5% Following Earnings From Valero (WNR, VLO)

Western Refining, Inc.

shares are down nearly 5% today, losing 91 cents to $17.78, a loss of 4.87% after competitor Valero

reported earnings this morning. Valero reported earnings of 79 cents per share on revenues of $26.3 billion. This blew away Wall Street estimates of $21.6 billion in revenues. Volume in Western Refining is about average today, as 3.2 million shares have changed hands today, versus the average daily volume of around 4 million shares. Western Refining, Inc., through its subsidiaries, operates as an independent crude oil refiner and marketer of refined products in Texas, Arizona, New Mexico, Utah, Colorado, and the Mid-Atlantic region.