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Downgrades: VLO, JBLU, AAI

October 14, 2009

The trouble continues for Valero Energy (VLO) as the refiner saw its rating cut from Buy to Sell at Soleil Securities this morning. The investment firm expects refining margins to remain weak into 2010 and have reduced its EPS estimate for 2009 from a loss of just five cents to a loss of fifty cents.