$SUN

The Texas Stock Exchange (TXSE) launched, with Sunoco (SUN) and SunocoCorp (SUNC) transferring listings from NYSE. TXSE aims to compete with Nasdaq and NYSE, positioning Texas as a financial hub.

Shares of Valero Energy (VLO), Marathon Petroleum (MPC), Sunoco (SUN), and Phillips 66 (PSX) rose overnight after President Trump's executive order allowed temporary highway use of dyed diesel and deferred federal fuel tax. The move aims to lower fuel costs amid rising energy prices. VLO gained 0.67%, MPC 0.35%, SUN 3%, and PSX 1%. Analysts note limited impact on diesel prices due to state regulations and global supply issues.

Texas Stock Exchange (TXSE) began trading nearly $100B in corporate market value with listings from Energy Transfer (ET), Sunoco (SUN), SunocoCorp (SUNC), USA Compression Partners (USAC), and Dillard's (DDS). The move marks TXSE's entry into the corporate-listings market, competing with NYSE and Nasdaq.

The Supreme Court declined to hear Sunoco Inc.'s appeal of a $100M class-action judgment, with Justice Kavanaugh dissenting. Justice Alito recused himself due to a potential financial conflict. Kavanaugh also supported energy companies in a separate climate change lawsuit, citing federal jurisdiction.

September historically underperforms for U.S. equities, with indices like S&P 500, Dow, and Nasdaq showing average declines. This year, factors like high oil prices, rising Treasury yields, and Fed rate hike expectations add to market concerns. Zacks Investment Research recommends Archer-Daniels-Midland (ADM), Amgen (AMGN), and Sunoco LP (SUN) as defensive stocks with strong fundamentals and growth prospects.

The Texas Stock Exchange (TXSE) secured its first primary equity listings, with Energy Transfer, USA Compression Partners, Sunoco LP, and SunocoCorp LLC moving from the NYSE. The companies have a combined market cap of nearly $100 billion. TXSE aims to challenge NYSE and Nasdaq by leveraging Texas's business-friendly policies, though analysts note past attempts faced challenges.

Energy Transfer and three affiliates (ET, SUN, SUNC, USAC) plan to move their primary listings from the NYSE to the Texas Stock Exchange (TXSE), representing nearly $100 billion in market value. The move, effective in early October, marks the first major listing loss for the NYSE. TXSE, backed by major firms, aims to attract more listings and has updated index eligibility rules to facilitate the transition.

Energy Transfer (ET) and affiliates Sunoco LP (SUN), SunocoCorp (SUNC), and USA Compression (USAC) will move their listings from the NYSE to the Texas Stock Exchange (TXSE) on October 5. ET owns significant stakes in these companies, and its executive chairman, Kelcy Warren, holds a 30% stake in TXSE Group.

Adel Ahmed, owner of two Sunoco franchises in Westchester, sued Sunoco for $3 million after his franchises were terminated following his arrest on sex trafficking charges. Ahmed claims Sunoco violated federal law by terminating his franchises based on allegations, not convictions. Sunoco cited failure to meet supervision requirements and criminal misconduct as reasons for termination. Ahmed seeks court validation of his claims and monetary damages. Sunoco has not responded to requests for commen

Sunoco LP (SUN) is predicted to grow its dividend payout faster than ExxonMobil and Chevron over the next five years. The company has raised its dividend for seven consecutive quarters, targeting at least 5% annual growth. Sunoco's recent $600 million acquisition of Offen Petroleum is expected to be accretive and may further boost dividend growth, according to the company.