BP Downgraded, Ocado Leaps, Greggs Up
On this episode of Stock Movers:
- BofA Global Research cuts recommendations on BP and Shell as lower oil and gas prices and deflating refining margins “leave the sector grappling for more free cash flow cushions than it is already sitting on.”
- Ocado shares rise as much as 16%, the most since July, after the online grocer said it will receive a $350 million cash payment from Kroger to compensate for the US grocer’s decision to close three automated warehouses and to not go ahead with another.
- Greggs rose 7%. Trading volume was quadruple the average for this time of day.
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