being taken lower without regard to fundamentals.
the company. On the first day of BK nothing will change operationally. The big difference will be that the shares will be worthless, which doesn't really effect the company in the near term.
Less than 3% of stock is short, so this is not going to be a source of a lot of buying.
Once in awhile the market is manipulated lower (mostly by the shorts) and when you see earnings like GILD just reported and the stock trades down, this is a market that is being manipulated lower.
for many years and now am convinced a change is needed at the very top.
ever reported by any company. All this other negative talk is to facilitate for the shorts.
going to cost them, as JCI backs out of their non deal.
to help pay back over 11 billion in debt it is only a matter of time before the equity holders get wiped out. The bond holders will take charge and hopefully get back 50 cents on the dollar from the ensuing fire sale of physical assets.
I am starting to buy this one and it is the only oil stock in my account. BP has about 50 billion of purchasing power. Their timing is by mistake, because of the Gulf oil spill, but they sold assets at just the right time. They purchased assets from Devon at like .35 cents on the dollar, greatly enhancing their positioning in the gulf a few weeks ago and will continue this activity in their four other areas of major interest.
quarter. ($36.61/shr). Have purchased 2,673,165 shs at a cost of 123.7 million, average cost per share $46.27. They must be adding some lower cost stock with their 101 million dollars left to buy back the stock. Listened to CC and everything seems to be in order.