U.S. Markets closed

Occidental, Ashland Remain Undervalued Says Visium Manager


Occidental Petroleum shares will be fueled by share repurchases once it completes its asset sales and California Resources spin-off, said Frank Gallagher, portfolio manager for the Visium Event Driven Fund. Gallagher said Ashland's stock will see similar growth now that it has sold its water technologies business to a private equity firm. He also said the chemical company will increase its earnings as it completes its cost reduction plan. Finally, Gallagher is bullish on the Hartford Financial Services Group, saying the insurance giant is returning capital to shareholders and has streamlined its operations in the wake of John Paulson's activism.