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Goodrich Petroleum Shares Popped: What You Need to Know

By Tim Beyers | More Articles
July 15, 2011 | Comments (0)

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Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.

What: Shares of Goodrich Petroleum (NYSE: GDP  ) soared as much as 11% in early trading after BHP Billiton (NYSE: BHP  ) offered $12.1 billion in cash for nearby Petrohawk (NYSE: HK  ) .

So what: This is what happens in buyouts, Fool. Anything that smells like the acquired company rises. Shares of Rackspace Hosting (NYSE: RAX  ) went nuts in January when Verizon (NYSE: VZ  ) bid $1.4 billion for Terremark Worldwide, a peer in the Web hosting business.

Now what: Far as we know, AT&T hasn't tried to purchase Rackspace, and just because Petrohawk is exiting into BHP's arms doesn't mean we'll see a deep-pocketed suitor show up at Goodrich's door, either. Stay focused on the fundamentals, and the rest will take care of itself. Do you agree? Disagree? Feel free to weigh in using the comments box below.

Interested in more info on Goodrich Petroleum?Add it to your watchlist.

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Fool contributor Tim Beyers is a member of the Motley Fool Rule Breakers stock-picking team. He didn't own shares in any of the companies mentioned in this article at the time of publication. Check out Tim's portfolio holdings and Foolish writings, or connect with him on Google+ or Twitter, where he goes by @milehighfool. You can also get his insights delivered directly to your RSS reader.

Motley Fool newsletter services have recommended buying shares of Rackspace Hosting. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.


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Related Tickers

5/25/2012 4:03 PM
GDP $15.57 Down -0.09 -0.57%
Goodrich Petroleum… CAPS Rating: **
RAX $50.94 Down -0.04 -0.08%
Rackspace Hosting CAPS Rating: ****
VZ $41.45 Up +0.06 +0.14%
Verizon Communicat… CAPS Rating: ****
BHP $61.81 Down -0.99 -1.58%
BHP Billiton Limit… CAPS Rating: ****
HK.DL $0.00 Down +0.00 +0.00%
Petrohawk Energy C… CAPS Rating: ****

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