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Stock Market & Financial Investment News

News Breaks
March 24, 2014
11:02 EDTBP, IBMIBM chosen to support BP's global workforce
IBM (IBM) announced that it has been selected by BP (BP) to integrate and manage the company's business applications globally, as well as provide enhanced service desk support for 60K employees and 80K devices in the Americas and Europe. IBM was chosen to support BP in enhancing user interaction with the service desk and improving business IT processes across all BP IT operations.
News For IBM;BP From The Last 14 Days
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February 2, 2016
07:17 EDTBPIran still struggling to finalize oil drilling contract terms, WSJ says
Iran is still having difficulty finalizing terms under which foreign energy companies can drill for oil there, the Wall Street Journal reports. Iranian oil officials canceled a conference scheduled for this month in London where new contracts for Western companies were supposed to be presented, with official blaming the cancellations on the inability to secure enough U.K. visas for the event, the report says. Another reason for the cancellation are conservative factions thinking that the contracts drawn up by president Hassan Rouhani's oil ministry are too generous to foreign entities, the report says, citing people familiar with the matter. Publicly traded companies in the space include BP (BP), Chevron (CVX), ConocoPhillips (COP), Exxon Mobil (XOM), Royal Dutch Shell (RDS.A) and Total (TOT). Reference Link
06:24 EDTBPOptions expected to be active
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06:10 EDTBPBP says plans to cut 7,000 jobs by 2017
BP has taken around $1.5 billion in restructuring charges over the past five quarters; this total is expected to approach $2.5 billion by the end of 2016. BP expects to reduce the number of staff and contractor roles in the Upstream segment by around 4,000 during 2016 and by up to 3,000 from the Downstream by the end of 2017.
06:09 EDTIBMIBM agrees to acquire Aperto, terms not disclosed
IBM announced it has signed a definitive agreement to acquire Aperto, a digital agency with headquarters in Berlin. Upon completion of this transaction, Aperto will to join the IBM Interactive Experience team, supporting IBM's growth in the largest economy in Europe. Aperto's 300-plus employees will continue to serve its roster of clients. The transaction is expected to close in Q1 and is subject to applicable regulatory review and customary closing conditions. Financial details were not disclosed.
05:59 EDTBPBP reports Q4 production up 8.3% to 2,369 mboe/d
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05:57 EDTBPBP sees further $1B of restructuring charges incurred in 2016
05:56 EDTBPBP sees Q1 refining margins lower than Q4
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05:56 EDTBPBP sees FY16 underlying production 'broadly flat' with 2015
Sees Q1 reported production "broadly flat" with 4Q15. Says oil prices continue to be challenging in the near term.
05:54 EDTBPBP reports Q4 adjusted profit $196M
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February 1, 2016
13:59 EDTBPBP volatility elevated into Q4 and outlook
BP February weekly call option implied volatility is at 45, February is at 36, March is at 34; compared to its 52-week range of 16 to 46, suggesting large near term price movement into the expected release of Q4 results on February 2.
13:49 EDTBPS&P cuts rating on Shell, puts several other EU oil majors on watch
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11:45 EDTBPKinder Morgan closes acquisition of 15 BP terminals
Kinder Morgan, Inc. (KMI) closed the previously announced plan to acquire 15 refined products terminals from BP Products North America (BP) in a transaction valued at approximately $350M. Kinder Morgan and BP Products North America have also formed a joint venture limited liability company terminal business to own 14 of the acquired assets, which Kinder Morgan will operate and market on the JV's behalf. The fifteenth terminal will be owned and operated solely by KMI. In connection with the transaction, BP has entered into commercial agreements securing long-term storage and throughput capacity from the JV, which will market additional capacity to third-party customers. Kinder Morgan owns a 75% interest in the JV, with BP owning the balance. This investment is included in Kinder Morgan's 2016 capital plan as discussed in its Jan. 27 investor conference, the company noted.
10:19 EDTBPBP appoints Lamar McKay to deputy group chief executive
BP announced the appointment of Lamar McKay to the new position of Deputy Group Chief Executive. McKay, currently chief executive of BP's Upstream segment and a 35-year veteran of BP, will be based in London and take up the role following a suitable handover period. McKay will be succeeded as Upstream chief executive by Bernard Looney, currently chief operating officer, production, in the Upstream segment. In addition to assuming some duties currently borne by BP's Group Chief Executive, McKay's responsibilities will include strategy and long-term planning, safety and operational risk, technology, and corporate governance - including ethics and compliance. BP America will continue to report to him. These appointments headline a reorganisation of BP's executive team that includes other adjustments which will follow the retirement of Katrina Landis, executive vice president of corporate business activities, who leaves the company on May 1 following a career of 24 years with BP. Landis will not be replaced on the executive team and her current role's responsibilities will be assigned to other members of the team. Reference Link
January 29, 2016
07:36 EDTBPAnalysts still predicting mergers as oil slump drags on, WSJ reports
Bankers and analysts have been predicting a wave of merger activity will come almost since crude prices began to fall from over $100 a barrel, but the only big acquisition by an oil major so far has been Shell's (RDS.A) purchase of BG Group (BRGYY), said The Wall Street Journal, which added that analysts still believe deal-making is likely to return this year if prices continue to languish. With Chevron (CVX) set to report today and its big peers soon to follow, analysts are expecting the four biggest publicly traded Western oil companies to have their weakest combined profits since 1998, the Journal noted. The report noted that U.S. shale oil producers, such as Apache (APA) and Whiting Petroleum (WLL), were previously targeted though potential sellers were reluctant to accept offers as they hoped for a rebound in oil prices and potential buyers wondered if any deal struck would look expensive if crude prices fell further, but "both impediments are gone now," the Journal contends. Reference Link
January 28, 2016
15:19 EDTIBMEarnings Watch: Hard drive makers report with analysts upbeat on SanDisk deal
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15:18 EDTIBMIBM to acquire digital marketing and creative agency Resource/Ammirati
IBM announced its intent to acquire Resource/Ammirati -- a US-based digital marketing and creative agency -- combining the companies' strategic, creative and technology talents to "address rising demand from businesses seeking to reinvent themselves for the digital economy and provide differentiated experiences to their customers." This is IBM's first acquisition of a digital marketing creative agency, the company said. The deal is projected to close in the first quarter of 2016, subject to satisfaction of customary closing conditions and applicable regulatory reviews. Financial details were not disclosed.
10:55 EDTBPOPEC delegates say no plan for meeting Russia about production, Bloomberg says
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January 27, 2016
12:35 EDTBPBP management to meet with Evercore ISI
Meeting to be held in New York on February 3 hosted by Evercore ISI.
09:29 EDTIBMFacebook data center project supported by telco heavyweights, FT reports
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06:01 EDTIBMIBM names Ford President and CEO Mark Fields to board, effective March 1
The IBM (IBM) board of directors yesterday elected Mark Fields to the board effective March 1, 2016. Fields is president and CEO, Ford (F). Ginni Rometty, IBM chairman, president and CEO, said: "We are pleased that Mark will be joining the IBM board of directors. Mark led the highly successful transformation of his company in a competitive industry where technology has driven innovation. He is leading Ford into a future where cars are not only vehicles, but increasingly becoming mobile technology platforms. His knowledge and insights in running a complex global business will make a significant contribution to IBM."
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