Randomly Noted

As 2010 draws to a close, there has been – as one could expect – a change in the top five companies traded here in terms of their market capitalizations. Three of the top five from 2009 stayed in the top five for 2010 – Exxon Mobil continues to be first with a market cap of $369.92 billion (up from $327 billion a year ago). Amazing what high oil prices will do.

The new number two is Apple, riding the success of its iPad tablet, launched in the middle of this year. Apple’s market cap at the end of this year was $296 billion, up from $188 billion a year ago. That’s a whopping 57% gain.

The other carryover was Microsoft, which came in 3rd this year at $238.27 billion. It held the number 2 spot last year with a $278 billion market cap. That means this year it declined 14%. The new kids in the top five class?

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The failure over the weekend by BP to plug its ruptured oil well in the Gulf of Mexico cost investors more than $20 billion today. The company’s American Depositary Shares fell $6.43 to $36.52, resulting in a company worth about $20 billion less than when the Labor Day weekend began last Friday. In part, the stock fell on the well not being contained. But also, investors are beginning to fret over the soaring clean-up costs and likely litigation costs. The company itself now has a market capitalization of around $114 billion – which has some analysts wondering if it weakens further whether it could become takeover bait.

Massey's shares have fallen 10%

Massey Energy has seen its stock get hammered today following word late yesterday of a deadly explosion in one of its West Virginia mines in which 25 workers were killed. Some investors have apparently dumped the stock thinking lost production of tighter regulations will hurt future profitability. (The stock has shed some $492 million in market capitalization today).

But clearly some others think the sell off is making the stock cheap. Another interesting measure is money flow – it’s a measure that looks at the amount of money coming into a stock and the amount going out the door. You would think with a 10% selloff that Massey investors were in a mass unloading mode. Not true. Instead, there is a net $25 million positive money flow into the stock.