Valero LP has just reported earnings....Company says numbers were below expectations with bigger impacts from problems last fall. Distribution also announced; no change. Company says its sees issues in the first half of 2005 but a better 2nd half. Conference call later today. You will need a passcode to access it and thats provided here...scroll down to the bottom paragraphs. Stock traded 100 shares at 54 after the news.

Exxon is extending its gains this morning in the pre-market up $1.76 to 63.05!