Let's be clear about what the article said. It's called "BP Profits Down as it Waits for New Trial." The article states:
"Britain's premier oil firm, BP, will report a dip in profits for the second quarter of the year as the bill for the Deepwater Horizon oil rig disaster continues to take its toll.
On Tuesday, BP chief executive Bob Dudley is set to report profits down slightly for the three months to June compared with last year, when profits were $3.6 billion (£2.4 billion) and down, too, on profits for the first quarter of 2013 which came in at $4.2 billion.
But BP, which has taken the brunt of the blame in America for the disaster, received a potential boost when its US partner in the Gulf of Mexico oil well, Halliburton, confessed to destroying evidence relating to the disaster."
The question that a investor would need to ask is, if the liability costs are hurting earnings now, when the settlement payouts are still coming out of the $20 billion trust BP already paid for, what happens when that $20 billion runs out?
To see the likely outcome of BP reporting a less than stellar quarter, I think you can look at Intel's recent results; the company reported lower than expected and traded down for 3 days. now it's back up.
As for shorting BP, sell on the rumor and buy on the news was sooooo four years ago! Today, it's a losers game.
vikki - for every negative article you can dig up, there are 5 positive. as your short position continues to worsen, you continue, and accelerate, your negative postings. you continue your tirades and your inane comments. you are fast slipping into the category known as Low Life. pathetic.