BP fell just cents away from hitting its new 10-year low Wednesday after the Associated Press reports that the oil spill in the Gulf of Mexico might be larger than the London-based company has said.
What's the Trade?
On Tuesday, Whitney Tilson of T2 Partners revealed to the Fast Money desk that the stock is "too cheap" to pass up. It's his latest long position.
Tilson's clients must be a little more patient than mine, Patty Edwards of Storehouse Partners says. She thinks there is money to be made with BP, but says everytime she catches the falling knife, she gets cut.
IS RISK TRADE BACK ON?
Traditional flight to safety trades fell Wednesday, including Treasuries and gold . So is risk trade back on? Joe Terranova of Virtus Investment Partners says commodities hedge funds are wanting to get back into oil and copper. Brian Kelly of Kanundrum Capital says he's hearing the same.
CALL TO THE FLOOR: CORNING's GORILLA GLASS
A scratch resistant and durable glass used in touch-screen devices has been a huge driver for Corning , a New York State-based glassmaker, says CFO Jim Flaws.