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Stock Market & Financial Investment News

News Breaks
November 15, 2012
11:10 EDTBPBP announces $4.5B spill settlement with United States government
BP announced that it has reached agreement with the United States government, subject to court approval, to resolve all federal criminal charges and all claims by the SEC against the company stemming from the Deepwater Horizon accident, oil spill, and response. BP has agreed to plead guilty to 11 felony counts of Misconduct or Neglect of Ships Officers relating to the loss of 11 lives; one misdemeanor count under the Clean Water Act; one misdemeanor count under the Migratory Bird Treaty Act; and one felony count of obstruction of Congress. This resolution is subject to U.S. federal court approval. As part of its resolution of criminal claims with the U.S. government, BP will pay $4B, including $1.256B in criminal fines, in installments over a period of five years. BP has also agreed to a term of five years’ probation. Under the resolution with the Department of Justice, a total of $2.394B will be paid to the National Fish & Wildlife Foundation over a period of five years. In addition, $350M will be paid to the National Academy of Sciences over a period of five years. The resolution also provides for the appointment of two monitors, both with terms of four years. BP said the aggregate amount of the resolution is approximately $4.5B, with payments scheduled over a period of six years. Today's resolution is expected to result in an increase of approximately $3.85B to the $38.1B charge taken against income as of the end of September.
News For BP From The Last 14 Days
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November 18, 2014
18:26 EDTBPKeystone pipeline legislation voted down by U.S. Senate
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November 17, 2014
11:15 EDTBPBP to invest $200M to upgrade U.S., Belgian petrochemical plants
BP announced that it plans to invest over $200M to upgrade its purified terephthalic acid plants at Cooper River, South Carolina and Geel, Belgium. The investments will position these assets amongst the most efficient PTA manufacturing facilities in the world. Reference Link
November 14, 2014
16:52 EDTBPGreenlight Capital gives quarterly update on stakes
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05:58 EDTBPLawsuit accuses BP of overcharging California agencies for natural gas, AP says
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November 13, 2014
17:06 EDTBPBP loses bid for new trial regarding negligence in oil spill, Bloomberg says
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November 11, 2014
09:00 EDTBPBP, Total exploration efforts undeterred by $80 per barrel oil, Bloomberg says
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November 10, 2014
15:57 EDTBPWorldwide Business Research to hold a conference
ProcureCon for Digital & Marketing Services 2014 is being held in San Antonio on November 11-13.
10:04 EDTBPOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: Abercrombie & Fitch (ANF) downgraded at Oppenheimer... American Eagle (AEO) downgraded to Neutral from Buy at B. Riley... BP (BP) downgraded to Neutral from Overweight at JPMorgan... Callon Petroleum (CPE) downgraded to Neutral from Buy at SunTrust... EP Energy (EPE) downgraded to Hold from Buy at Deutsche Bank... Eaton Vance (EV) downgraded at Sterne Agee... Ecopetrol (EC) downgraded to Underperform from Sector Perform at RBC Capital... General Mills (GIS) downgraded to Sector Perform from Outperform at RBC Capital... Genworth (GNW) downgraded to Market Perform from Outperform at Keefe Bruyette... MasTec (MTZ) downgraded to Hold from Buy at BB&T... Ocean Rig UDW (ORIG) downgraded to Neutral from Buy at Guggenheim... Performant Financial (PFMT) downgraded at Morgan Stanley... Petrobras (PBR) downgraded to Market Perform from Outperform at Cowen... R.R. Donnelley (RRD) downgraded to Hold from Buy at Benchmark Co.... Rex Energy (REXX) downgraded to Market Perform from Outperform at BMO Capital... Salix (SLXP) downgraded to Neutral from Buy at Mizuho... Siemens (SIEGY) downgraded to Neutral from Overweight at JPMorgan... Solazyme (SZYM) downgraded to Equal Weight from Overweight at Morgan Stanley... Stonegate Mortgage (SGM) downgraded to Market Perform at FBR Capital... Syngenta (SYT) downgraded to Neutral from Overweight at HSBC... ViaSat (VSAT) downgraded to Hold from Buy at Needham... Vistaprint (VPRT) downgraded to Neutral from Buy at SunTrust... Walter Investment (WAC) downgraded at Sterne Agee... WesBanco (WSBC) downgraded to Market Perform from Outperform at Keefe Bruyette... Whiting USA Trust II (WHZ) downgraded to Underperform at Raymond James... Wipro (WIT) downgraded to Sell from Buy at UBS... XOMA (XOMA) downgraded to Neutral from Buy at Ladenburg... Yanzhou Coal (YZC) downgraded to Sell from Hold at Deutsche Bank.
09:40 EDTBPBP to invest $240M in two new exploration blocks in Egypt
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06:25 EDTBPBP downgraded to Neutral from Overweight at JPMorgan
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November 7, 2014
06:27 EDTBPFederal appeals court panel still holds BP responsible for Gulf spill, AP says
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