How was your Valentine’s Day?
Mine was just fine: add dinner with my wife and kids, ate chocolate, give a nice card, receive one back… It was a nice Valentine’s day until I open my laptop later on at night and find out about Chevron’s court decision regarding damages caused to the Amazon River. In Fact, the court is giving a 8 Billions fine to Chevron to pay to Equador.
I jinxed it! In my Chevron Stock Analysis, I was talking that the biggest risk this kind of company was a major lawsuit claim… ouch! So after JNJ quality control going out of control, CVX is having some serious lawsuit on their back. Chevron says they will appeal this decision in Equador. The good news in all this is probably that Chevron has not intend to pay and will fight back…. I just hope they are right!
CVX was not affected by the news (which occured around 3:30 pm yesterday) as the stock finished at $96.95, up by $0.50…Google+