Phillips 66 falls after split result in proxy fight with Elliott

ReutersMay 21, 2025 1:56 PM

Shares of refiner Phillips 66 PSX.N down 6.8% at $112.74

Stock on track for its lowest pct. fall since April 4

Activist hedge fund Elliott Investment Management says it won two seats on PSX's board based on preliminary analysis of proxy results

*Elliott says Sigmund Cornelius and Michael Heim were elected to co's board of directors at annual meeting

Phillips 66 nominees also won two board seats

Up to last close, shares up 6.1% YTD

Disclaimer: The information provided on this website is for educational and informational purposes only and should not be considered financial or investment advice.

Recommended Articles

April NFP Lands at 8:30 AM Today — 65K Forecast, a New Fed Chair, and the Dollar at Triple-Bottom Support

TradingKey - April 2026 NFP forecast 62K–70K vs March 178K. Unemployment expected 4.3%. Fed on hold at 3.50–3.75% with Kevin Warsh as new chair. DXY triple-bottom at $97.69. Trade setup inside.

US-Iran Tensions Heat Up Again, Brent Crude Prices Return Above $100

TradingKey - Oil prices surge as US-Iran clashes resume following a brief de-escalation.

Tesla Opens Up Over 2%, Shares Return to $400, Here Is What Investors Need to Note

TradingKey - During the US market opening session on May 7, Tesla (TSLA.US) shares extended their rebound momentum, rising more than 2% at one point to open at $406, returning above the $400 level. On May 5 and 6, the stock touched the $400 mark intraday but closed below that threshold on both days.

SpaceX IPO Approaches: Musk Dissolves xAI into SpaceX and Subleases 300MW Compute to Anthropic; Can the $2 Trillion Valuation Hold?

TradingKey - On Wednesday (May 7), Anthropic reached an agreement with Elon Musk's SpaceX to access SpaceX's massive data center 'Colossus 1.' Meanwhile, Musk announced that xAI would be dissolved as an independent company and renamed SpaceXAI, becoming an AI product line within SpaceX. Can SpaceX's

Micron Stock Forecast: Can the AI Memory Super-Cycle Drive MU to $3,000 by 2030?

With a sold-out HBM pipeline, leadership in G9 NAND technology, and a valuation that has yet to fully account for its 2030 trillion-dollar potential, Micron remains a cornerstone "buy" for any long-term tech portfolio.

Featured Tools