Wednesday, June 2, 2010

BP (NYSE:BP), Halliburton (NYSE:HAL), Anadarko (NYSE:APC) Rebound Today

BP (NYSE:BP), Halliburton (NYSE:HAL) and Anadarko (NYSE:APC) all got a breather today, as the three oil companies have been hammered since the Deepwater Horizon oil rig exploded resulting in the oil spill in the Gulf of Mexico.

The reasoning for the uptick is the companies and Wall Street went on the offensive today, defending the stock of the firms which have lost billions in value.

Bargain hunters are also perusing the companies, looking for opportunities while analyzing the various scenarios that may play out and how they'll impact the stocks.

It seems investors are finding something they like, at least in the sense that some responses to the oil giants may be overplayed in light of the amount of exposure they face from the incident.

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