The timing of the decision had/must have been emotionally driven. They wanted it out ASAP and aren't used to properly timing pr's since APC has been so solid for a long time and haven't needed to. But, at least it is out there for anyone doing research this weekend or early Monday morning.
This type of news should just be one more nail in the BP coffin. The only one buying it are those that are averaging down or covering shorts. I suppose you have day traders too. But, no new investors.
In Reply To 'DewDiligence'
I can't figure out why APC issued the PR on Friday evening rather than Monday morning. Friday evening is when companies put out PR’s they don’t want investors to read.