Quote:
Originally Posted by Pooka
This is normal in the oil biz.
If you are facing money damages that could be beyond imagination investors don't want to buy stock that may be worth far less after a case is decided.
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The puny fine that HAL will pay (200K) has nothing to do with it. The fact that the Department of Justice considers the case
closed is why the stock rallied today.
To prove my point, HAL's Q1 earnings statement included a $635,000,000 charge for damages from the Macondo tragedy. Yes, $635,000,000!!! The stock rallied ~6% following the news.
