Exxon Mobil reported a 49% decline in third-quarter earnings on lower oil prices and higher costs. The results, however, did slightly top Wall Street expectations and the shares were a bit higher in early trading. Exxon earned $3.2 billion in the third quarter, down from $6.2 billion in the same period a year ago. Here’s
Month: November 2019
Traders and financial professionals work on the floor of the New York Stock Exchange (NYSE) at the opening bell on August 19, 2019 in New York City. Drew Angerer | Getty Images As November unfolds, stocks should continue to make gains in one of the best months of the year for the market, and it’s
Amazon CEO Jeff Bezos attends a commemoration ceremony held in front of Saudi consulate on the first anniversary of his murder, in Istanbul, Turkey on October 02, 2019. Elif Ozturk | Anadolu Agency | Getty Images The presidential primaries are still months away, but Sen. Elizabeth Warren has already doubled her wealth tax. As part
The market is breaking out as global economic data is taking the edge off the slowdown narrative. The marginal mover of stocks this year has been the Federal Reserve, trade, and the global economic slowdown, led by weakness in Europe and China. The global economic slowdown has even encompassed worries about a slowdown in the
President Donald Trump addresses the International Association of Chiefs of Police annual convention at the Orange County Convention Center in Orlando, Florida on October 8, 2018. Mandel Ngan | AFP | Getty Images President Donald Trump is making his move to Florida official. His home state of New York may not let him go without
Imagine your aging parent or other loved one living on his or her own and losing power from a natural disaster or an intentional blackout. What would they do? It’s fire season in California and with it has come massive preventive power cutoffs from the largest utility company. There are lessons for all of us
According to a story by Maggie Habberman of theNew York Times, our President has decided that he is no longer a New Yorker, but rather a Floridian. I doubt very much that President Trump reads my stuff. Nonetheless, in response to his complaint that the Tax Cuts and Jobs Act was killing him, I wrote
The frequency and intensity of wildfires in Southern California is causing residents to move away … [+] from fire-prone areas and buyers to question purchasing homes in dangerous parts of the state. AFP via Getty Images Four counties in California head the list of places at risk of losing the most housing value due to
An Exxon Mobil station in Cincinnati, Ohio. Luke Sharrett | Bloomberg | Getty Images Check out the companies making headlines in midday trading: Exxon Mobil — Shares of Exxon Mobil climbed more than 2.5% despite the international petroleum giant reporting earnings down 49% in the third quarter. Investors appeared reassured by CEO Darren Woods’s comments
Chevron reported a 36% decline in third-quarter earnings as lower oil and natural gas prices offset an increase in production. Chevron earned $2.6 billion in the third quarter, down from $4 billion a year earlier. Both EPS and revenue missed the Street’s expectations. The stock was about 1% lower in early trading. Chevron said that
Chipotle restaurant workers fill orders for customers in Miami. Getty Images The stronger-than-expected October jobs report and big revisions to prior months shows that the labor market is resilient and that should encourage the Fed to stay on the sidelines. The economy added 128,000 jobs in October, despite the negative impact of 42,000 striking General
Sen. Elizabeth Warren is picking the wrong billionaire in Leon Cooperman as an example of why America needs a wealth tax, CNBC’s Jim Cramer said Friday. Cooperman is the “wrong whipping boy,” said Cramer, praising the Omega Advisors founder — son of a Bronx plumber who became one of Wall Street’s most successful investors —
An employee passes the Google logo. Carsten Koall/Getty Images Democrats and Republicans don’t agree on much these days, but their mutual distrust of big tech stocks poses an underappreciated threat to companies like Google and Facebook, according to Goldman Sachs. And while the Department of Justice and the Federal Trade Commission already announced investigations into
Tereza | Twenty20 As the Federal Reserve cuts rates, it’s a good idea to make sure your savings are still getting the biggest boost possible. The central bank slashed its benchmark short-term interest rate this week by a quarter point for the third time this year. As a result, some banks are pulling back their
Lump-Sum Options present questions that deserve careful consideration. Getty Recent changes by the IRS have perked up interest in companies offering lump-sums to recipients of monthly defined benefit pensions. Most recently, General Electric (GE) announced was freezing its defined benefit plan and would be offering lump-sum options to 100,000 retirees. Lumps-sums are not new: AT&T,
Most multinationals expect that public country-by-country reporting will become a reality within the next few years — even if politicians can’t yet agree on the proposals. Getty In surveys conducted in 2018 and 2019, Deloitte (which has been tracking business reactions to base erosion and profit-shifting initiatives) found that over 75 percent of multinational respondents see public CbC
This is the second installment in an exploratory and investigative series called “How To Do Opportunity Zones Right.” This series will highlight Opportunity Zone projects, investments, collaborations, ideas and important happenings across the country that seek to meet the original intent of the Opportunity Zone legislation. The purpose of the Opportunity Zone legislation is to
A woman works in a Macintosh boot factory in Lin’an, located in the east China province of Zhejiang. Feature China | Barcroft Images | Barcroft Media | Getty Images A private survey showed factory activity in China expanded in October with the Caixin/Markit PMI coming in at 51.7. Analysts polled by Reuters had expected the
Kevin Johnson, CEO, Starbucks Scott Mlyn | CNBC Starbucks will report earnings after the bell Wednesday. The coffee chain’s stock, valued at $100 billion, is up 29% so far this year. Here’s what analysts surveyed by Refinitiv are expecting: Earnings per share: 70 cents expected Revenue: $6.68 billion expected Global same-store sales: 3.95% Investors will be
Metal worker Andy Mattingly operates a siphoning crucible in the pot room at Century Aluminum Company in Hawesville, Kentucky, May 14, 2019. Bryan Woolston | Reuters An update on manufacturing activity Friday could provide a much more useful picture of the economy than the October employment report, which is expected to be unusually weak due