Think it more hints to the start of silent take over . Parties buying small amounts of stock at a time to increase share volume prior to the big push for full control. A take over is bound to happen now as Baker has now been weakened making it more ripe for compitulation and acceptance
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The stock price is based purely on speculation and traders are merely gambling. Without the fundamentals being in place, you know that it can all only end in tears. Enron revisited me thinks.
Determining the price of a stock at any particular time is very difficult. In any given year the stock of many large companies may go up or down by 30%. The current price doesn't necessarily reflect anything other than investors perception of the future (right or WRONG).
Halliburton is buying large chunks of stock.....look at the deals on Reuters.
Some of it may be due to the stock buy back, but I'm skeptical that increase has any staying power.
It implies Investors are happy with the steps being taken by the company in the present difficulties. SLB and HAL believe the market has bottomed out, but BHI doesn't. Investors see our approach as a positive , hence the SP rising. At least that is what Art Soucy told me in the bar last night.
Bummer