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Stock Market & Financial Investment News

News Breaks
January 30, 2013
06:08 EDTBPBP $4B guilty plea wins final approval
BP yesterday announced that the U.S. District Court for the Eastern District of Louisiana has accepted the company’s plea resolving all federal criminal charges against the company stemming from the Deepwater Horizon accident, oil spill, and response. The company offered its plea to the Court and was sentenced in connection with the agreement BP reached with the Department of Justice on November 15, 2012. As previously announced, BP will pay $4B over a period of five years and will serve a term of five years’ probation. Pursuant to the terms of the plea agreement, the Court also ordered certain equitable relief, including additional actions related to BP’s risk management processes as well as several initiatives with academia and regulators to develop new technologies related to deepwater drilling safety. In addition, as outlined in the company’s November 2012 agreement with the DOJ, BP will appoint a process safety monitor and an ethics monitor, both with a term of four years, and an independent auditor will report annually on BP’s compliance with the remedial terms of probation.
News For BP From The Last 14 Days
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September 18, 2014
16:00 EDTBPOptions Update; September 18, 2014
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September 17, 2014
07:40 EDTBPUBS to hold a conference
Houston Energy Bus-less Tour is being held in Houston on September 17-19 with webcasted company presentations to begin on September 17 at 8:30 am; not all company presentations may be webcasted. Webcast Link
07:39 EDTBPMorningstar to hold a conference
Management Behind the Moat Conference to be held in Chicago on September 17-18.
September 16, 2014
16:00 EDTBPOptions Update; September 16, 2014
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11:26 EDTBPBP to reduce personnel in Alaska operations after stake sales, Reuters says
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10:47 EDTBPBadri sees OPEC lowering oil output target at next meeting, Reuters says
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05:46 EDTBPStocks with implied volatility movement; BP PG
Stocks with implied volatility movement; BP (BP) 18, Procter & Gamble (PG) 12 according to iVolatility.
September 15, 2014
20:02 EDTBPConocoPhillips auctioning 24% stake in the Clair oilfield, FT reports
ConocoPhillips (COP) has hired banks to sell its 24% stake in UK's largest oilfield, The Financial Times reports, citing people familiar with the matter. The 24% stake could be valued between $2B-$3B, the people added. The Clair oilfield sits in Scottish territorial waters, and Conoco's interest in exiting the project is a sign of the challenges facing the North Sea oil industry, The Financial Times added. BP (BP) operates the Clair oilfield and owns a 28.6% stake, Royal Dutch Shell (RDS.A) controls a 28.6% stake, and Chevron (CVX) controls a 19% stake. Reference Link
September 12, 2014
10:51 EDTBPBP signs 17-year LNG deal with Tokyo Electric
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September 10, 2014
17:04 EDTBPOceaneering's contract with BP Angla extended
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08:22 EDTBPBofA/Merrill oil and gas analysts hold an analyst/industry conference call
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07:39 EDTBPBP says North Sea prospects best served by maintaining integrity of U.K.
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September 9, 2014
07:47 EDTBPBP weakness overdone, says Oppenheimer
After BP (BP) was found 67% culpable and grossly negligent for the Gulf oil spill, Oppenheimer thinks the case could drag on for years, while the company may have to pay less than the maximum possible Clean Water Act fine of $17.6B. Additionally, the firm says that the company could make the payment over an extended period. Oppenheimer reduced its price target on the name to $55 from $60 but keeps an Outperform rating on the shares.
September 8, 2014
07:26 EDTBPHigher potential damages could pressure BP to settle, WSJ reports
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06:52 EDTBPUK urges U.S. Supreme Court to examine BP Gulf spill decisions, Reuters says
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06:00 EDTBPStocks with implied volatility movement; BP XLP
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September 5, 2014
16:45 EDTBPMarket ends week little changed after mixed economic data
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11:47 EDTBPOptions with increasing implied volatility
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10:05 EDTBPOn The Fly: Analyst Upgrade Summary
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06:20 EDTBPBP upgraded to Buy from Neutral at Citigroup
Citigroup raised its rating on BP shares to Buy from Neutral, saying the sell-off yesterday after a judge found the company grossly negligent for the Macondo spill presents a buying opportunity. Citi expects BP to lose its appeal of the ruling, but feels the financial implications will fall well below the maximum. Shares of BP dropped 6% yesterday, or $2.82, to $44.89.

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