Earlier this week, hedge fund manager Whitney Tilson told us he was bullish BP. Despite the political fall out and talk of a dividend cut, he added to his position.
The market had plenty of reasons to rally but the bulls just couldn’t keep it together and by the close the Dow surrendered a triple digit gain.
BP drops midday to a nearly 14-year low. BP shares went from $34 to $31.50 in about an hour midday. What happened? You have senators walking around talking about suing BP for everything, including lost jobs; you have worries that the dividend will be wiped out; and you have whispers on trading desks that it is increasingly likely that BP, or its U.S. subsidiary...may file for bankruptcy.
"You and I eat steaks and pizza. Microbes eat hydrocarbons," says Kennedy, President and CEO of Bioremediation, Inc., a company that uses microbes to clean up hazardous chemicals.
BP will survive the debacle in the gulf, yet the oil giant will remain impaired years down the road, said Paul Smith, chief risk officer at Mobius Risk Group, which ones a commodity advisory firm.
With BP shares near a 10-year low, is it worth the price as a lottery ticket?
Stocks jumped on Wednesday after comments made by Ben Bernanke soothed investor jitters. Are the bulls back in the game?
The oil industry’s foremost authority on reservoir management and upstream technology called the BP oil spill a Black Swan event that, however catastrophic, has the potential to improve drilling practices in particular and the industry in general.
BP may have screwed over the entire nation with the Gulf oil spill but it's throwing a lifeline to one of the neediest groups — the unemployed.
About 6,000 claims in total have been filed against BP since its massive oil spill in the Gulf of Mexico.
Two global Eco disasters are evolving and being handled similarly: they continue to leak, and repair attempts have been ineffective. Residents, citizens, markets, and investors are losing confidence in ever seeing the promised rose gardens of repair and resolution.
Stocks advanced Tuesday after a report on Chinese exports blew past expectations, offering hope for the global recovery.
BP is in the midst of a hundred-year storm, and from the outside in, it doesn't appear they have any sort of plan.
The U.S. Department of Interior said Tuesday that oil has been leaking from a non-BP well into the Gulf of Mexico, but put the size of the leak at less than a barrel a day.
Fed Chairman Ben Bernanke's testimony before the House Budget Committee Wednesday could temporarily shift investor focus from Europe to the U.S. economy.
When investors let up on the oil-services stocks – and they will eventually – this international play should be one of the first to rebound.
Once again the market experienced late day volatility, but instead of a sell-off this time in the last hour of trading buyers pushed stocks to session highs.
In honor of our extended Halftime Report launch, Fast Money is profiling the trading icons that thrived between 9:30am and 4pm.
A widely regarded authority in the energy sector tells Fast Money, "“I don’t think BP will last as a company for more than a matter of months.”
"This has not been handled well." That assessment of BP's public relations campaign comes from Mike Sitrick, whose Sitrick & Co. is well known for its crisis management skills.