As I posted a week ago the new CEO has been formally engaged. I am certain that during Dr Hessions interview process both the BOD and he did some careful due diligence. It is a positive statement for IOC that a man with his reputation and experience selected IOC as his next opportunity.
I believe that during his d/d he looked at at the history, the present and envisioned the future for both himself and IOC. He clearly stated he believes the Exxon deal is real and will be completed quickly (not soon, LOL) He will hit the ground running as he would have been fully briefed by the managament and the BOD. He probably was presented with an existing business plan and will initially proceed with this plan. He will operate within the parameters of this plan and modify or change it as events occur
I think the possible reason for the stock performance may have been due to some of his friends, family, business associates conversing with him, congratulating him. Or maybe challenging him, but he is certainly bullish on IOC and some of these people may be new buyers.
Also some short covering as they do realize the time of deal signing is closer.
And finally there may be some info leaking about the imminent closing of the Exxon deal.
