MarketFoolery: 10.22.2012

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🗓️ 22 October 2012

⏱️ 23 minutes

🔗️ Recording | iTunes | RSS

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Summary

BP makes a big deal as Ancestry.com goes private. Plus we analyze Caterpillar’s earnings and Hasbro’s decision to bring back the Furby.

Transcript

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0:00.0	It's Monday, October 22nd.
0:04.0	Welcome to Marker Forward.
0:05.0	I'm Sir Stanley joining in studio today for Motley Cool 1, Jason Motor,
0:08.0	with Motley Cool Special Ops, and Mike Olson.
0:10.0	Good you see you guys.
0:11.0	Happy Monday.
0:12.0	Happy Monday. Chris. Happy Monday.
0:13.0	Happy earnings Paluso.
0:15.0	It is earnings Paluso.
0:16.0	We've got earnings from Caterpillar and Hasbro.
0:18.0	We are actually going to start with a couple of non-earning stories.
0:21.0	I know that's a shockerer particularly since I think somewhere in the
0:24.4	range of a third of the companies and the S&P 500 are reporting earnings this week. But we have a couple
0:29.9	of acquisition stories to get to first.
0:33.0	BP has announced it is agreed to sell its 50% stake in TnK BP, a joint venture in Russia.
0:41.0	It's selling its stake to Ross Neft Oil in exchange for 17 billion in cash and a
0:46.8	nearly 13% stake in Ross Neft.
0:50.0	Mike Olson, first and foremost, why did BP make this deal?
0:55.0	I think there are probably three reasons I can come up with at risk of doing a Rick Perry.
1:03.0	The first is that this has been a very troubled joint venture, almost from the beginning.
1:08.8	It is a 50-50 joint venture where BP owns half and a group of Russian businessmen own the other half.
1:15.0	Now if you have not followed the oil and gas patch for a long time that is a very very
	...

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