Exxon disagrees with Newfoundland over Hibernia

Exxon (NYSE:XOM) seems to have continuing trouble with Newfoundland’s Premier Danny Williams over the accounting related to the Hibernia field. An independent audit has found Exxon’s claims underwhelming. Exxon of course argues that the field has not been as productive as expected. The province feels they have found evidence to the contrary. Exxon may be surprised by what Danny Williams will do for the people of Newfoundland. He is not a tin pot dictator. His understanding of process will be excellent.

Johnson and Johnson Trojan Horse

Johnson and Johnson (NYSE:JNJ) is touting results from a new drug dealing with Schizophrenia. Phase III results have been presented to a scientific body and press released. The pressure is on regulators to approve. No comment about any regulatory concerns or issues. It sounds like clear sailing. Will lawsuits come latter?

Dominion Home Friday Suspicion

Dominion Home((NASDAQ:DHOM) Look at trading on Friday. Particularly after 3:00 pm. Given their announcement about bad sales the drop is suspicious. Who knew what and traded when? OK SEC do your job and tell me if this one passes the smell test or what!

Boeing Sponsors/Controls Gov't Cost Estimating

The Boeing Company (NYSE:BA) and the Society of Cost Estimating and Analysis (SCEA) today announced that they have entered into an agreement whereby Boeing would become a corporate sponsor of SCEA, an association established to further the effectiveness and efficiency of cost estimating and analysis and related disciplines in the public and private sectors. Boeing's sponsorship of SCEA is the first by a major company in a new program established by SCEA to create alliances with both business and government organizations. I guess Boeing gets the jump and maybe a lot of control on how government arithmatic is actually done. For now maybe better than Airbus but things can change.

Weekend Follies (July 8-9)

The following stocks release information at oddball hours over the weekend when investors are typically not looking at their screens. Basically they are sneaking news out and hoping to call it disclosure. PetSmart(Nasdaq:PETM) declared a quarterly common stock cash dividend of $0.03 cents per share. They should be proud and not hide it. Dominion Homes (NASDAQ:DHOM) reported terrible sales. Linn Energy (Nasdaq: LINE) announced that Nasdaq would keep them listed. MDU Resources Group, Inc. (NYSE:MDU) announced today that it entered into a definitive merger agreement to acquire Cascade Natural Gas (NYSE:CGC) No specific numbers have been provided.