Top Stories 1 of 3
PrintEmailOrder ReprintsBy Mark Lawson | March 16, 2013 7:41 AM EST
BP (NYSE:BP): Current price $41.00
BP’s oil-trading division is under intensified scrutiny after its becoming a weak link for the oil giant, which says that the unit, at one time bringing in one-tenth of company profits, was responsible for its inability to fully keep its pledge to improve performance at its refining division. Sources in the industry, along with ex-insiders, say that the weak performance has ignited an internal debate regarding the unit. These developments at BP show generally poor performances across many trading units at oil majors and trading houses during the past three years, because of relatively low market volatility.
Are these stocks a buy or sell? Let us help you decide. Check out our Stock Picker Newsletter now.
Chesapeake Energy Corporation (NYSE:CHK): Current price $22.26
On Thursday, Chesapeake was unable to obtain a court order allowing it to redeem $1.3 billion of notes early at a favorable price, marking a decided setback for the natural gas company as it attempts to close a potential $4 billion cash shortfall in 2013. United States Judge Paul Engelmayer announced the decision in Manhattan federal court. The bond
trustee Bank of New York Mellon Corporation, along with a group of investors holding $250 million of the notes had fought the proposed redemption, claiming that it would cause irreparable harm.
SolarWinds (NYSE:SWI): Current price $60.38
The Solar Energy Industries Association, which is the industry’s main trade group, will report that the amount of new solar energy capacity installed in the United States jumped by 76 percent last year versus 2011, according to The New York Times, which added that the boost was due to an oversupply of cheaper solar panels made in China.
Transocean (NYSE:RIG): Current price $53.379
Marine engineering expert Edward G. Webster, testifying for plaintiffs who have brought a lawsuit in connection to the 2010 Gulf oil spill, has reviewed in court a Transocean computerized maintenance system report for the Deepwater Horizon, dated a day prior to the April 20, 2010, blast, which listed 222 overdue maintenance tasks, including 76 “high priority” jobs. Such internal documents indicate that the company failed to maintain the Deepwater Horizon, deferring critical repairs and maintenance for years before the drilling rig burned and sank in the Gulf of Mexico. Webster said that “Safety critical” systems and equipment had been in need of maintenance or repairs for months and, in certain cases, years, citing the report.
Investing Insights: Are BP Shares a Bargain Now?
Copyright Wall St. Cheat Street. All rights reserved.
Australia Bids Adieu to Adam Spencer's Mornings on ABC's "702 Breakfast" Show [PHOTOS]
Top 10 Hottest Celebrities with Shocking Weight Loss (And Find Out Their Secrets!) [PHOTOS]
Mars Curiosity Rover Photos: UFO Hunter Spots Strange 'Ruins,' 'Missile' [PHOTOS, VIDEO]
Miranda Kerr Exposes Breasts to Crew, Wardrobe Malfunction 'Deliberate Accident?' [PHOTOS]PrintEmailOrder Reprints
Cancer-Causing Agent Found in Johnson & Johnson Baby Powders
iPhone 6, iPhone 5S Will Have Flexible Screens Made of Corning Gorilla Glass on Release Date?
TOP PICKS
We value your privacy. Your email address will not be shared.
