BP cuts the flow on buybacks
Wall Street Breakfast
Seeking Alpha
4.1 • 1K Ratings
🗓️ 10 February 2026
⏱️ 5 minutes
🧾️ Download transcript
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Transcript
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| 0:00.0 | Welcome to Seeking Alpha's Wall Street Breakfast, where we cover the top news for investors every morning. |
| 0:07.6 | It's good to have you here on this Tuesday, February 10th. I'm Julie Morgan. |
| 0:14.0 | BP is down 5% in pre-market action, even after the company delivered a beat on top line estimates. Revenue of 47.38 billion |
| 0:23.9 | up 3.6% year over year beats by $5.08 billion. Q4 non-gap e-pads of 60 cents was in line with estimates. |
| 0:35.4 | As for 2026 guidance, BP expects reported upstream production to be slightly |
| 0:40.9 | lower and underlying upstream production to be broadly flat compared with 2025. BP also announced |
| 0:48.6 | that the board has decided to suspend the share buyback and fully allocate excess cash to accelerate strengthening of the |
| 0:56.3 | balance sheet. The company goes on to say that this creates a strong platform to invest with |
| 1:01.6 | discipline into their distinctive deep hopper of oil and gas opportunities. The Trump administration |
| 1:09.4 | reportedly intends to spare some companies from forthcoming tariffs on chips. |
| 1:14.9 | This includes Amazon, Google, and Microsoft as they race to build the data centers powering the AI boom. |
| 1:22.1 | People familiar with the matter told the Financial Times that the Commerce Department is planning to provide U.S. hyperscalers |
| 1:29.1 | with tariff carve-outs, which would be tied to investment commitments made by Taiwan |
| 1:34.3 | semiconductor manufacturing company. |
| 1:37.0 | Trump has used the threat of tariffs to push for more U.S. manufacturing, but the report |
| 1:42.2 | said the administration has stopped short of applying |
| 1:45.0 | broad tariffs on semiconductors from Taiwan, which would rock Big Tech's AI supply chain. |
| 1:51.9 | The new scheme would allow TSMC to allocate exemptions for its U.S. customers from its next set of |
| 1:58.0 | tariffs. The complex plan is intended to push TSM to shift more production to the U.S. |
| 2:05.1 | TSMC has pledged to invest $165 billion in building capacity in the U.S. |
| 2:12.1 | An administration official briefed on the plans cautioned they were in flux and had not been |
| 2:17.1 | signed by the president. |
... |
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