So how did BP perform in the market today?

[Duer 157099]

Did they wait to announce their Fail Shot after market close for any particular reason, one wonders?

And what does the stock do tomorrow upon open?

And who gain(ed)/gain(s)?

[LeftyFingerPop]

1. up about 7%. n/t

[LeftyFingerPop]

2. Also, the news conference was after market close. n/t

[gateley]

4. I wonder if that's why BP waited so long to inform us the kill shot had been

stopped for 16 hours.

They are still spinning and not leveling with us.

[LeftyFingerPop]

9. Companies normally wait until the market closes to disclose any material news.

But yes, they are spinning.

[Statistical]

3. It was +7% durring day in after market trading it is down 1.67%

http://www.google.com/finance?q=NYSE:BP

[Duer 157099]

5. I suppose one could put in a claim to BP if someone went long today

That's a pretty serious failure to communicate at an important time, wouldn't you think?

[Statistical]

6. Unlikely.

Company needs to disclose material facts but they have some latitude on when they disclose them.

Anyone on the operation would be subject to insider trading blackout. At my company I have access to certain material that may be considered "insider information" I am limited to when I can buy or sell company stock and need to fully disclose any purchased 15 days in advance to the board.

I simply don't buy any company stock. :)

[Duer 157099]

7. But I seem to recall several reports since midnight

that talked about the success of this effort. Now that would be plain fraud, no?

[Statistical]

10. Re-read the reports and look at what exactly was said by BP.

BP said the top kill was progressing. Rather "weasely" but not exactly fraud.

How much was back clapping by other people and media?

Unless it is in quotes it wasn't said by BP it is more conclusion reached by person writing the story.

[Greyhound]

8. K&R for the utter predictability.

[Nikki Stone1]

12. Yup

.

[Nikki Stone1]

13. Yup

.

[Junkdrawer]

11. If Tony Hayward dumped a lot of stock, would that be insider trading?

Bonus question: Would he ever be charged?

[Statistical]

14. Yes but given that he can't dump stock that isn't a problem.

Now if he told someone and that person acted on the news both would be guilty.

Executives need to file sales or purchases 90 days in advance.

i.e I want to sell 100,000 shares on 8/27/2009 so I file with SEC today.
So the only way he sold shares today is if he made a filing 90 days ago and that would be 100% legal.

[LeftyFingerPop]

15. Good reply. n/t