Euro Bounces Around .10 as Greek Markets Open Again The doors on the trading floor at Greece’s stock market finally cracked open today, in preparation for Monday’s trading.
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Coca-Cola Enterprises, an independent bottling company of Coca-Cola products, surged on a report that it is in merger talks with two of its European counterparts.
Looking ahead, Exxon Mobil said that its share purchases to reduce shares outstanding are now anticipated to equal $500 million in the third quarter.
The company said it produced 4 million barrels of oil equivalent pre day, an increase of 139,000 barrels per day or 3.6 percent. The company has a market capitalization of $331.23 billion and a PE ratio of 11.88. Its operations in the U.S. – the center of the global oil and gas boom – posted its second straight quarterly loss.
Exxon Mobil Corporation is an energy firm. Analysts expect that Exxon Mobil will post $4.46 EPS for the current year. Other cuts come in high-cost fields, like Canada’s oil sands and deep water offshore projects.
Evan Calio, an analyst with Morgan Stanley, said on Exxon’s earnings conference call that the oil giant appeared to be less vocal than its peers about cutting costs.
Exxon, based in Irving, Texas, said it earned $4.2 billion, or $1.00 per share, in the quarter, compared with $8.8 billion, or $2.05 per share. Revenue fell to $40.4 billion, from almost $58 billion a year ago. The stock price is going above to its 52 week low with 0.94% and lagging behind from its 52 week high price with -19.47%.
“Second quarter financial results were weak”, said Chevron CEO John Watson in a statement Friday, adding that “multiple efforts to improve future earnings and cash flows are underway”. “It’s very good news for U.S. households and consumers”.
Amgen paced gains in health-care, rising 2.9 percent to a record after posting second-quarter profit that beat analysts’ estimates, driven by higher sales of rheumatoid arthritis drug Enbrel and lower operating expenses.
Analysts, on average, had expected a profit of $1.11 per share, according to Thomson Reuters I/B/E/S. “Both lost money in the U.S., especially Chevron”.
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Exxon Mobil explores for and produces crude oil and natural gas in the United States, Canada/South America, Europe, Africa, Asia, and Australia/Oceania. On April 21, he told a Houston energy conference that the supply glut and low prices will persist “for the next couple of years” at least. A block trade also made an entry with $0.97 million flowing in through upticks while $19.96 million flew out through downticks. The domestic rig count has already dropped roughly 60 percent, but it takes time before the output of new wells falls. It’s a case of the company not being able to sustain them if oil prices continue their lackluster performance. “You’d think production would have shown some improvement”. The report noted that pipeline disruptions tied to political violence in Iraq were already taking a toll. The Business also manufactures and markets various specialty products, and petrochemicals, including olefins, aromatics, polyethylene and polypropylene plastics.
