Julie Morgan
👤 SpeakerAppearances Over Time
Podcast Appearances
That's it for today's Wall Street Breakfast.
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I'm your host, Julie Morgan.
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It's good to have you here on this Tuesday, February 10th.
BP is down 5% in pre-market action, even after the company delivered a beat on top-line estimates.
Revenue of $47.38 billion, up 3.6% year-over-year, beats by $5.08 billion.
Q4 non-gap E-pads of $0.60 was in line with estimates.
As for 2026 guidance, BP expects reported upstream production to be slightly lower and underlying upstream production to be broadly flat compared with 2025.
BP also announced that the board has decided to suspend the share buyback and fully allocate excess cash to accelerate strengthening of the balance sheet.
The company goes on to say that this creates a strong platform to invest with discipline into their distinctive deep hopper of oil and gas opportunities.
The Trump administration reportedly intends to spare some companies from forthcoming tariffs on chips.
This includes Amazon, Google, and Microsoft as they race to build the data centers powering the AI boom.
People familiar with the matter told the Financial Times that the Commerce Department is planning to provide U.S.
hyperscalers with tariff carve-outs, which would be tied to investment commitments made by Taiwan Semiconductor Manufacturing Company.
Trump has used the threat of tariffs to push for more U.S.
manufacturing, but the report said the administration has stopped short of applying broad tariffs on semiconductors from Taiwan, which would rock big tech's AI supply chain.
The new scheme would allow TSMC to allocate exemptions for its U.S.