(NYSE:BP) CEO Hayward Sent To Russian Front

I like this photo I found titled Bringing Oil to North American Shores!!! Boy they were not kidding!!  CEO Hayward is being exiled to the Russian Front.  See below

(AP) Tony Hayward, who became the face of BP’s flailing efforts to contain the massive Gulf oil spill, will step down as chief executive in October and be offered a job with the company’s joint venture in Russia, a person familiar with ...read more

Market To Open Higher:Gulf Gusher Fixed for Now

The gushing in the Gulf is fixed for now, so the market can focus on earnings and fundamental issues.  Stock indexes in Asia had mixed results overnight, but most of the key markets were lower. The Nikkei was particularly weak as it traded down 2.8%, Australia lost about a half percent while the Hang Seng and Shanghai were unchanged. European indexes are generally higher this morning; the Footsie currently has ...read more

Market Waffles

Earnings numbers come in and they are better than expected, but all that really matters here is what BP does with the Well.  It seems the market has factored in a successful capping or some version of flow reduction.  Earnings come every quarter, but closing the book on a natural disaster doesn’t happen every week.  I think the trading world gets this, and I think they are short here… expecting the ...read more

Stocks Wait on BP

Happy  Monday.  The World Cup is over as the Vuvuzela sounds fade into the distance and I look forward to the British Open coverage which starts Thursday at 5am ET as a nice replacement.

Stocks are testing the upside here as we enter earning season and currently are trading into resistance, I expect down to sideways movements this week based on recent trading patterns.  Short term moves in the summertime tend ...read more