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Valero Energy Depleted on Q1 Tax Charges (VLO)
[March 26, 2010]

Valero Energy Depleted on Q1 Tax Charges (VLO)

Mar 26, 2010 (SmarTrend News Watch via COMTEX) -- 3/26/2010-Shares of Valero Energy (NYSE:VLO) are trading 2.2% lower to $19.42 Friday after the largest independent U.S. refiner said it expected to take a first-quarter charge of $15 million to $20 million due to the tax impact of a new healthcare law.

"There will be further tax costs due to the legislation in the future, but we don't have calculations on those yet," Valero spokesman Bill Day said in a emailed statement to Reuters.

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