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What: Shares of marine fuel supplier Aegean Marine Petroleum Network
So what: Thanks to higher expenses and continued softness in the maritime space, Aegean projected a quarterly loss of $0.22 to $0.24 per share, while analysts were expecting a profit of $0.13 per share. Ever-intensifying competition from integrated oil gorillas like BP
Now what: Aegean is quickly becoming just too cheap to ignore. With today's massive 20% plunge, the shares have now fallen 70% over the past year and trade at roughly around book value. The short-term picture doesn't look particularly pretty, but with Aegean still expected to enter new global markets, the stock might be an attractive long-term value.
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