The CFO of CLMT told the audience at the Merrill conference that cap-ex had been slashed and the company was thinking of selling some of its under-performing divisions. One that might be sold is the Dakota Prairie Refinery.
The company is carrying a lot of debt and is aiming to reduce the load, but according to the CFO, that might take a few years. Possibly, the easiest way to solve all the problems is to sell the whole company. Maybe that's why the stock jumped yesterday and today?