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Stock Market & Financial Investment News

News Breaks
January 3, 2013
12:27 EDTRIG, BPTransocean announces $1.4B settlement with Justice Department
Transocean announced that it has reached an agreement with the U.S. Department of Justice to resolve certain outstanding civil and potential criminal claims against the company arising from the 2010 accident involving the Deepwater Horizon in the Gulf of Mexico. As part of this resolution, a Transocean subsidiary has agreed to plead guilty to one misdemeanor violation of the Clean Water Act for negligent discharge of oil into the Gulf of Mexico and pay $1.4B in fines, recoveries and penalties. This resolution will result in the Department of Justice concluding its criminal investigation of Transocean and settling its claims for civil penalties against the company relating to the spill from BP's (BP) Macondo well. The company intends to satisfy its payment obligations over a period of five years, using cash on hand and cash flow from operations. At September 30, Transocean had accrued an estimated loss contingency of $1.5B associated with claims made by the Department of Justice. Any potential claims associated with the Natural Resources Damage Assessment process are excluded from the agreement with the Department of Justice, the company said.
News For RIG;BP From The Last 14 Days
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July 22, 2014
06:29 EDTBPEU weighing new sanctions on Russia, NY Times says
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July 21, 2014
08:16 EDTBPFMC Technologies signs agreement to develop susbsea equipment and systems
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July 18, 2014
06:33 EDTBPChinese helping Russia blunt sanctions' impact, NY Times says
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July 16, 2014
13:18 EDTBPBP aims to invest $10B in Egypt gas project, Daily News Egypt says
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06:27 EDTBPBP retirement-plan case reintroduced by U.S. court, Reuters says
The 5th U.S. Circuit Court of Appeals in New Orleans brought back a case in which participants in four BP worker retirement savings plans alleged they were tricked into purchasing and holding BP stock before and after the 2010 Deepwater Horizon disaster, according to Reuters, citing comments from BP spokesman Geoff Morrell. Reference Link
July 15, 2014
10:00 EDTRIGOn The Fly: Analyst Upgrade Summary
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07:46 EDTBPJacobs receives project services contract from BP
Jacobs (JEC) announced that it was awarded a contract with BP (BP) to provide engineering, design and procurement services for the Coker Heater Replacement Project at its Cherry Point Refinery in Blaine, Washington. Company officials did not disclose the contract value.
06:41 EDTRIGTransocean upgraded to Market Perform from Underperform at BMO Capital
BMO upgraded the offshore drillers to Market Perform from Underperform citing valuation, reduced expectations, and a slow resumption in activity. Price target raised to $43 from $36.
July 9, 2014
10:02 EDTBPOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: Advanced Energy (AEIS) downgraded to Neutral from Buy at Dougherty... Apollo Global (APO) downgraded to Neutral from Buy at Citigroup... Artisan Partners (APAM) downgraded to Neutral from Buy at Citigroup... Autoliv (ALV) downgraded to Hold from Buy at Nordea... BNP Paribas (BNPQY) downgraded to Neutral from Overweight at JPMorgan... BP (BP) downgraded to Hold from Buy at Deutsche Bank... Carlyle Group (CG) downgraded to Neutral from Buy at Citigroup... Coach (COH) downgraded at Buckingham... Cummins (CMI) downgraded to Buy from Conviction Buy at Goldman... Garmin (GRMN) downgraded to Underperform from Sector Perform at Pacific Crest... Gigamon (GIMO) downgraded to Buy from Strong Buy at Needham... International Paper (IP) downgraded at RBC Capital... Louisiana-Pacific (LPX) downgraded at RBC Capital... Marvell (MRVL) downgraded to Underperform from Perform at Oppenheimer... McGraw Hill Financial (MHFI) downgraded to Market Perform at Raymond James... Moody's (MCO) downgraded to Market Perform from Outperform at Raymond James... Plum Creek Timber (PCL) downgraded at RBC Capital... Potash (POT) downgraded to Neutral from Overweight at JPMorgan... RGS Energy (RGSE) downgraded at Cowen... Taminco (TAM) downgraded to Neutral from Buy at Citigroup... Total (TOT) downgraded to Hold from Buy at Societe Generale... Unilever (UN) downgraded to Reduce from Neutral at Nomura... VMware (VMW) downgraded to Market Perform from Outperform at Wells Fargo... Vectren (VVC) downgraded to Hold from Buy at KeyBanc.
09:13 EDTBPOn The Fly: Pre-market Movers
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05:27 EDTBPBP downgraded to Hold from Buy at Deutsche Bank
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