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February 29, 2012
12:30 EDTYPFYPF tumbles ahead of tomorrow's State of the Union address in Argentina
Shares of Argentinean energy company YPF SA (YPF) are retreating, after the chairman of the company arrived in Argentina to meet with the nation's leaders, according to The Buenos Aires Herald. YPF Chairman Antonio Brufau is visiting Argentina amid tensions between the country's government and the company, after President Cristina Fernández de Kirchner criticized YPF for not investing enough money in Argentina. Traders are speculating that Fernandez could make a statement about YPF during her State of the Union address tomorrow, according to Reuters. Adding to traders' concerns, Deutsche Bank quotes a local newspaper as reporting that the president could announce tomorrow that the country's pension funds will take a controlling stake in YPF. Such a development could be very negative for minority shareholders, warns Deutsche Bank, which nonetheless maintains a Buy rating on the stock. In early afternoon trading, YPF fell $2.92, or 9.54%, to $27.68.
News For YPF From The Last 14 Days
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January 26, 2016
09:37 EDTYPFYPF upgraded to Buy from Accumulate at Tudor Pickering
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