"Anadarko Petroleum (NYSE:APC) -4% AH after reporting a steeper than expected Q2 loss and cutting its 2017 capital budget by $300M to an estimated $4.2B-$4.4B because of depressed oil prices."
seekingalpha.com
8 replies (most recent on top)
Nothing anyone can do now, It's just CARMA for all the age discrimination in the March 2016 layoffs! Ageism is alive and well. Things have a way of balancing out and the price will be paid. Got my "package" and another job! Hope you all are saving for "retirement". It comes so much earlier in life these days.
Gotta hand it to Big Al, he's gonna get that pool of his built in good times or bad.
The financial media seem to have jumped on APC's Q2 earnings call, especially the reduction in capex, and now seem to be treating Anadarko as the bellweather for the whole US shale industry. Weird development (?) Couple of examples attached, hope you can read 'em, Google if not:
http://www.zerohedge.com/news/2017-07-24/peak-shale-anadarko-just-became-first-us-oil-producer-slash-capex
https://seekingalpha.com/article/4091270-anadarkos-q2-results-may-indicative-bad-quarter-entire-shale-patch
Close. $45.72. Still not good, with or without market fundamentals.
What!? Does this mean APC won't be buying Noble Energy now? :-o
The market doesn't look at fundamentals any more. -4% after hours was instantly reversed on market open. APC will close around USD46 today, 07/25/17.
"Anadarko blinks first"... The title of the article says it all.
It's not the workers, past or present, but clearly management's lack of understanding of the nature of the business.
Relax guys, this is all part of my plan. I neuter the company and sell it to the highest (or who cares, the lowest) bidder. Then I use my golden parachute to finish the olympic swimming pool and tennis courts at my humble home in California. And maybe I'll treat the fam to a Disney World vacation too.