Murphy USA Shares Spike 10% After Casey’s Margin Surge Rattles Gas Station Sector
Murphy USA Inc. shares surged on Wednesday, closing at $612.16 for a 10.04% gain from Tuesday’s $556.33 close. The stock hit an intraday high of $614.24, while volume jumped to 542,124 shares from 289,138 the previous session. That’s a big surge in activity for the gas-station and convenience-store operator, which didn’t issue an earnings report during the session. Casey’s General Stores gave the market a new read on the group. The convenience and fuel retailer rallied 20.29% to close at $915.60 after a strong fourth quarter. Casey’s reported adjusted gains across its business but fuel profitability drew the most attention from Murphy holders.
