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>> NEW JERSEY Latest News

JAN 28, 2013 - Investors Business Daily

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Hess Shares Jump On Plan To Exit Oil Refining

Hess (HES) said it will sell 20 oil terminals and shut down its New Jersey refinery, completing its exit from the refining business. Shares of the oil company were up 5% midday Monday, after gapping up 7% early in more than triple normal volume. Hess also said activist hedge fund Elliott Associates wants to place members on the company's board, and wants to buy shares valued at more than $800 million. Hess said it hasn't had talks with Elliott,

Tags: Hess Shares Jump On Plan To Exit Oil Refining,  New Jersey Latest News