BP Q1 profit, over return to the office: trend kicker

00:00:03 Speaker A

It is now time for some of today's trend kickers. We observe stocks from BP and Uber. If we come to me now, we have the Yahoo Finance Senior Reporter Alexandra Canal. First, the stocks of the oil giant BP lose the ground after they had achieved a lower net profit in the first quarter. This happens days after the activist investor Elliott Management has announced a share of more than 5% in the company. At the end of February, BP announced plans to reduce renewable investments as part of a turnaround plan. And if you are looking at the stocks, you have dropped by about 2.6% in this alley.

00:00:44 Alexandra channel

Yes, BP has currently subjected many strategic changes. You only did a few of them. We have this reset of previous ambitions for green energy and again to more traditional oil and gas companies. We have management changes. We have the Elliott share. So it is a transition period for this company. If we don't have any results with these results, we will find that we have a 49% drop in profit compared to the previous year and have the expectations of the analysts missing analysts. The company attributed the downturn to weaker refinery edges and poor performance in oil and gas trading. In response to this Miss, BP has now announced a reduction in capital expenditure of 500 million US dollars for 2025. This brings this number to 14.5 billion. The company also plans to sell assets in three to four billion assets that exceed its previous goal. And from the investor's point of view, the shares did not complete so well. We have fallen about 28%, but to this day, which I think is interesting, we have only dropped about 4%. So we exceed the wider S&P 500, which currently has a decline of around 6%. Perhaps part of it is the turnaround effort, the Elliott use. However, we will see whether this strategic postponement can get into the share price.

00:02:17 Speaker A

Absolutely. We also see shares from Uber here this morning. This was interesting. According to all employees, reports that they have to work personally at least three days a week from June. According to a memo displayed by CNBC, the guideline even applies to employees who were previously approved for the remote work. The company also increases the requirement for its one -month sabbatic program of five years in the company to eight. If you look at the Uber shares this morning, you are in the fractionally higher, but this is more of a sequel in the RTO.

00:03:20 Alexandra channel

Yes, Google is another one who has pushed for this RTO. Great pressure from upper management. You say you don't just want to be good, you have to be great. And apparently it is great to be in the office. Now, Tuesday to Thursday, you can still work on Mondays and Fridays. I say when they have been admitted to work a remote and relocated their lives, and now suddenly they are asked to return to the office, the stinks. However, we only see this big boost across the board. And as an employee, if these companies check their guidelines and change things, unfortunately they have to play ball or look for a new job. And also think of Uber's business. If you work remote control, you don't take so much. I personally know for myself when I have to be in the office early, if I feel a bit lazy, I will sometimes take an over to work. Basically, I have the feeling that this makes sense, but I know I also get frustration on the employee side.

00:04:57 Speaker A

I wonder if you still have to drive a certain number of hours. It was something that Dara Khosrowshahi, when he took over the helm of the CEO, was something that he was interested in ensuring that he also knew the experience from the driver. And I think at that time there was a little more of the fact that the employees also had a measurement about how the platform works, a kind of end-to-end experience. Of course, this is separated from RTO, but that is only something in the inner culture. Right. Right. That's what history is about here. Uh, Ali, thank you very much to stop them. Appreciate it. You can scan the following QR code to track the best and worst shares in the session with the “Trending Tickers” page from Yahoo Finance.

00:05:23 Alexandra channel

Right.

00:06:05 Alexandra channel

Inner culture. Yes.