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Marine Products Corporation stock price
Marine Products Corporation latest news:
Magellan Midstream pares operations at U.S. Gulf terminal
Magellan Midstream Partners LP(MMP) said on Saturday it had limited operations at its Galena Park marine terminal near Houston due to Tropical Storm Harvey. The company has suspended inbound and outbound truck loadings at the terminal. Galena Park had the most gasoline loadings to Mexico of any U.S. terminal last year. Magellan's refined products and crude oil pipelines in Texas remain online.
Dow transports tumble toward biggest selloff in over a year
The Dow Jones Transportation Average plunged Thursday toward its worst day in 13 months, with all 20 components contributing to losses. The index dropped 327 points, or 3.5%, the biggest point and percentage declines since it tumbled 351 points, or 4.6%, on June 24, 2016. The biggest decliner on Thursday was transport management company Landstar System Inc.'s stock which shed 7.9% after reporting a second-quarter profit that were in line with analyst expectations, but came as recent share strength suggested "heightened" investor expectations, according to KeyBanc Capital analyst Todd Fowler. Provider of marine transport products Kirby Corp. reported late Wednesday earnings that matched the FactSet consensus but revenue that missed, sending the stock down 5.6%. And United Parcel Service Inc. shares slid 4.3% after the company beat profit and sales expectations, but provided a somewhat downbeat earnings outlook. The Dow transports' selloff come in contrast to the rise in the Dow Jones Industrial Average , which tacked on 19 points.Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
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