Hashemian Blog
Web, Finance, Technology, Running

Google Down, Apple Up, BP Plugs

by @ 11:31 pm
Filed under: financial,google — Tags: , ,

After missing the expected earnings and profits numbers, Google's shares are down 4% in after-hours trading. Apple's shares however are up by 1% in reverse sympathy.

Google Android is beginning to look like a real contender for Apple's ubiquitous iPhone, so the companies are now regarded as serious rivals. Bad news for one parlays into good news for the other.

With the options expiration tomorrow combined with the Google's earnings release, Apple's iPhone 4 antenna press conference, and BP's capping of the oil leak, the market should expect a busy and volatile day.

Related Article

Evangelist Exonerates BP

by @ 8:19 pm
Filed under: religion — Tags: ,

God of BPSo apparently the oil rig explosion and the subsequent oil leak wasn't BP's fault at all. According to the evangelist, Hal Lindsey, god did that to avenge the softening of US support for Israel. Guess that clears everything up for BP. Even better, BP should use that fact as it defends itself against the mountain of lawsuits. The BP church was simply doing god's work.

Apparently god is real annoyed and angry these days. Recently in Iran a cleric declared that earthquakes are God's punishment for women not covering up properly. Pretty much all accidents and disasters, man-made or natural, are now being attributed to god and his wrath.

I have a car accident, it's god. I lose a sock, it's god. I forget a meeting, it's god. Hang nail? Well it must be god. Can someone please put god on Prozac?

Sympathy for BP

by @ 10:29 pm
Filed under: environment,law — Tags: ,

BP, Tony HaywardIs it just me or does the BP boss, Tony Hayward, has one of those faces you feel sorry for? I know, no compassion for BP, but watching the man squirm before the congressional hearing today, I almost felt bad for him.

Ok, enough sympathy. Now let's get that Gulf gusher plugged, shall we?

 

Friend BP on YouTube

by @ 11:10 pm
Filed under: web — Tags: ,

Friend BP on YouTubeJust happened to see this ad on YouTube. Don't get it. I wasn't BP's friend before, why would I want to be their friend now? What's next, friending Bin Laden and Kim Jong-il?

 
 
 
 
 
 

Pelican in BP Oil

by @ 8:31 pm
Filed under: environment — Tags: , ,

Pelican in BP Oil

Pelican in BP Oil - Courtesy MSNBC

If MSNBC was trying to evoke feelings of sympathy and anger in its viewers today, it really came through with the picture of this defenseless bird covered in rust-colored BP crude oil.

For me it sums up how reckless and callous oil companies are and how ridiculous the "drill baby drill" people sounded. You figure these people would want to pass on a clean world to their own kids, but no, the lure of money is just too strong to care about anything but their own pockets. And if they don't even care about their own children, how could we possibly expect them to care about the ruined lives of so many people facing tar balls on their shores, let alone this poor animal?

We can boycott BP for eternity but that doesn't solve anything. BP will continue to sell its oil or it'll just operate under another name, and we know the other oil companies are no better. A more appropriate response is to reduce energy consumption. Drive smaller cars, use public transportation, walk or bike when possible, turn off lights, combine errands, or use shorter wash cycles. There are so many ways to help save the planet and save money in the process. Try one on for size.

BP Dividends in Jeopardy

by @ 11:37 pm
Filed under: business,financial — Tags: , , ,

As stated in my previous post, that 9.2% BP dividend yield was just wishful thinking. Now comes the word that lawmakers want BP to suspend any dividend payments because obviously the company has gotten one hell of a liability to deal with and paying the shareholders instead of the victims isn't going to sit well with anyone.

While BP shares rose modestly today in sympathy with the rest of the market which had a solid day, the news of the potential dividend cut will not please the investors and generally that's bad news for the stock.

More than likely BP shares will experience weakness tomorrow as a result. Right now about the only thing that can give BP a boost is sealing that oil well. Unless and until that happens the string of bad news will continue for BP.

I do wonder about one thing. If the outlook gets really nasty for BP, as in a risk of insolvency, will the British government step in with a bailout plan? Will the British public be in the mood for any more bailouts? Small chance, but a possibility nevertheless.

BP's Nightmare

by @ 11:19 pm
Filed under: business,environment — Tags: , ,

BP logoThere seems to be no end in sight for BP's plight. The oil well is still gushing, the stock is bleeding, and there's word of a criminal investigation.

BP's stock got hammered today to the tune of $20 billion. It also doesn't help that BP is a European company and Europe is still grappling with its serious financial malaise. Since April 20, the day of the rig explosion, the stock has lost some $75 billion. If BP keeps its dividend payout steady, the current price of $36.50 a share is a fantastic bargain, yielding 9.2%. Of course there's little chance of realizing that. It's quite possible that BP will stop paying dividends entirely as it will need every dollar to deal with countless liability suits pursuant to the biggest oil disaster in US history.

The contrarian view would consider BP's stock attractive at these levels and it may be a correct view. But BP's problem is far greater than what Toyota had to contend with a few months ago. Surely BP can see the dark clouds coming its way. It had better cork that well soon while there's still a chance to survive the mountain of lawsuits it will have to deal with in the aftermath.

P.S. Somewhere out there Mohammad Mosaddegh is looking down at BP's misfortune and smiling broadly. It's payback time.

BP's Nightmare

by @ 11:19 pm
Filed under: business,environment — Tags: , ,

BP logoThere seems to be no end in sight for BP's plight. The oil well is still gushing, the stock is bleeding, and there's word of a criminal investigation.

BP's stock got hammered today to the tune of $20 billion. It also doesn't help that BP is a European company and Europe is still grappling with its serious financial malaise. Since April 20, the day of the rig explosion, the stock has lost some $75 billion. If BP keeps its dividend payout steady, the current price of $36.50 a share is a fantastic bargain, yielding 9.2%. Of course there's little chance of realizing that. It's quite possible that BP will stop paying dividends entirely as it will need every dollar to deal with countless liability suits pursuant to the biggest oil disaster in US history.

The contrarian view would consider BP's stock attractive at these levels and it may be a correct view. But BP's problem is far greater than what Toyota had to contend with a few months ago. Surely BP can see the dark clouds coming its way. It had better cork that well soon while there's still a chance to survive the mountain of lawsuits it will have to deal with in the aftermath.

P.S. Somewhere out there Mohammad Mosaddegh is looking down at BP's misfortune and smiling broadly. It's payback time.

Powered by


Read Financial Markets  |   Home  |   Blog  |   Web Tools  |   News  |   Articles  |   FAQ  |   About  |   Privacy  |   Contact
Donate Bitcoin: 1K9TzBvQ2oaEb4tX9t2vKDtZouMcpfV6QF
paypal.me/rhashemian
© 2001-2019 Robert Hashemian   Powered by Hashemian.com