BP (NYSE:BP) has made a couple of move recently to cleanup the Gulf and its reputation.
The most recent announcement is they're going to reduce capital expenditures by 10 percent in order to release funds to pay for the Gulf cleanup.
Recently they also said they're going to lower the number of operatorships it holds in the Gulf, raising more capital by selling portions to other operators.
New BP CEO Bob Dudley also said there shouldn't be a problem reinstating the dividend for BP sometime in the near future, although he balanced that by saying it's the board of directors' decision and not his as to when that would happen.
Slowly a sense of normalcy is returning to the company, and that could be a good thing for their market cap, which would help them going forward as the value of the company rises.
Showing posts with label Capital Expenditures. Show all posts
Showing posts with label Capital Expenditures. Show all posts
Tuesday, October 5, 2010
Wednesday, June 2, 2010
Goldman Sachs (NYSE:GS) Upgrades Joy Global (Nasdaq:JOYG), Surges 8 Percent
The upgrade of Joy Global (Nasdaq:JOYG) by Goldman Sachs (NYSE:GS) pushed the mining-equipment manufacturer up over 8 percent on the day, up to $52.50, a gain of $4.24 or 8.77% as of 4:04PM EDT.
What was important about this wasn't the upgrade, which will always give a quick boost to a company, but the reason behind the upgrade, which in the case of Goldman Sachs for Joy Global, makes a lot of sense.
The reasoning relates to capex or capital expenditures the mining industry around the world has committed to spending on new equipment this year.
Goldman estimates it'll rise as high as 30 percent in 2010.
As with most others watching the markets and economics, concerns over China and the sovereign debt of the European Union could easily dampen those estimates, which a lot of analysts in other sectors have chosen to ignore or consider irrelevant.
But until the numbers come in, it isn't a surety as to how deeply these latest challenges will effect any industry, including those manufacturing mining equipment like Joy Global does.
What was important about this wasn't the upgrade, which will always give a quick boost to a company, but the reason behind the upgrade, which in the case of Goldman Sachs for Joy Global, makes a lot of sense.
The reasoning relates to capex or capital expenditures the mining industry around the world has committed to spending on new equipment this year.
Goldman estimates it'll rise as high as 30 percent in 2010.
As with most others watching the markets and economics, concerns over China and the sovereign debt of the European Union could easily dampen those estimates, which a lot of analysts in other sectors have chosen to ignore or consider irrelevant.
But until the numbers come in, it isn't a surety as to how deeply these latest challenges will effect any industry, including those manufacturing mining equipment like Joy Global does.
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