It seems unthinkable, even now, that the disastrous oil spill in the Gulf of Mexico could bring down the mighty BP. But investment bankers get paid to think the unthinkable — and that is just what they are doing. The New York times explains.
BP is trying to defend its corporate image with a major ad campaign after causing the largest oil spill in US history. The campaign includes a TV commercial featuring BP CEO Tony Hayward apologizing for the environmental disaster and explaining to viewers what the company is doing to repair the damage. The campaign has been met with mostly criticism.
The latest plan to stop the oil flowing from a BP site in the Gulf of Mexico may not work as well as originally hoped, the U.S. Coast Guard said Thursday. Many experts are now planning for the worst. What is the long-term impact of the spill on the economy? Steve Blitz, senior economist at Majestic Research discussed his insights.
Gas prices could climb higher than $5 a gallon by 2012 and oil companies could move exploration to other countries if the Obama administration’s suspension of offshore drilling continues for six months, John Hofmeister, a BP consultant and former Shell executive told CNBC Tuesday.
BP’s stock price has plummeted over the past month, sparking talk on whether it is vulnerable to a takeover. But given the massive uncertainty surrounding the costs of the oil spill, BP may prove to be a cheap, but messy target, analysts told CNBC.com.
Wall Street limped to the finish of an ugly May, dropping on European debt fears and lackluster economic news, though stocks were well off their lows heading into a holiday weekend.
This bull market will continue for "another couple of years," said Puru Saxena, CEO of Puru Saxena Wealth Management. He shared his market outlook.
Italy successfully auctioned 3, 7, & 10 year notes Friday, which should further calm markets. Bottom line: for the moment, it appears that European countries can access capital markets, with the possible exception of Greece. Now they just have to sell the austerity programs. Also: Sell in May and go to..?
U.S. stock index futures pointed to a lackluster open Friday as investors waited for key economic data to verify that recovery is building momentum.
They say good things come to those who wait. Which stocks are the Fast Money traders waiting on?
ExxonMobil is the biggest company in America and has been profitable for the last five quarters. So should investors still be buying the oil giant? Andrew Lees, portfolio manager at Invesco Energy Fund and Shawn Reynolds, portfolio manager at Van Eck Global shared their insights.
McMoRan Exploration rallied on a major oil discovery in January, only to fall back to earth in the last two months. Now the bulls are back.
A new study by OPEC predicts oil prices could stay in the $70-80 a barrel range for the next 10 years, according to a report expected to be presented at the International Energy Forum next week in Cancun, Mexico.
Stock futures Tuesday were a couple points higher ahead of the Fed meeting. An informal survey of stock traders indicate that no one is expecting a dramatic change in wording or rates. Most feel that unemployment will stay in the 9 percent range, that inflation will remain in the 1 to (at most) 2 percent range in 2010, and that none of this warrants rate increases before late in the year.
After being down all day, the Dow and S&P eked out gains Monday, led by Walmart after an analyst upgrade on the stock. Plus financials pulled off a gain amid relief after Sen. Chris Dodd unveiled his financial-reform bill.
Stocks declined Monday as the dollar gained after a warning from Moody's on the U.S. and other nations with AAA debt ratings and amid worries about China tightening. Financials took a hit amid jitters over financial reform.
Stocks were lower Monday after a warning from Moody's' on the U.S. and other nations with AAA debt ratings and amid worries about China tightening. But Walmart jumped 1% after an analyst upgrade.
Stock index futures followed international markets lower Monday, but Wall Street is coming off a bullish trend that could continue given some stronger economic numbers.
Plus, get calls on Internet video streaming, HMOs and more.
A pause is all very well, but if the monetary crutch that has supported recovery is kicked out too soon, that double dip scenario could become a reality.