BP Sinks After Earnings
Today, leading integrated energy stock BP plc (NYSE:BP) is trading sharply lower during the trading session. Earlier today, the company reported earnings that were below estimates. BP cited a stronger U.S. Dollar, and added payout expenses from the 2010 oil spill in the Gulf of Mexico for the poor earnings report. BP stock is trading lower by $1.83 to $41.29 a share. Short term day traders should watch for intra-day support around the $40.75 level. The daily chart is showing support around the $39.80 area.