BP shares surged early Monday after reports surfaced that activist investor Elliott Management has taken a stake in the oil major. BP has underperformed its British and U.S. energy peers. The company is set to release fourth-quarter results on Tuesday and outline its broader strategy on February 26th. The company recently warned of higher costs, lower refining margins, and one-off charges. BP is cutting 4,700 jobs as part of CEO Murray Auchincloss’ cost-saving plan. Shares rose over 6% in London trading on Monday.
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00:00It's Benzinga bringing Wall Street to Main Street.
00:02Shares surged early Monday after reports surfaced that activist investor Elliot Management has
00:07taken a stake in the oil major. BP has underperformed its British and U.S. energy peers.
00:12The company is set to release fourth-quarter results on Tuesday and outline its broader
00:16strategy on February 26. The company recently warned of higher costs, lower refining margins,
00:22and one-off charges. BP is cutting 4,700 jobs as part of CEO Murray Akechencloss' cost-saving
00:28plan. Shares rose over 6% in London trading on Monday. For all things money visit Benzinga.com
00:33slash GSTV.