HOUSTON - Exxon Mobil Corp on Monday signaled that lower refining margins across the industry and lower natural gas prices will reduce profits in the second quarter.
Full financial results, which includes other factors other than operational resuts, are due on Aug. 2. Results also reflect record oil production in Guyana, where Exxon pumped 632,000 boepd with partners in May, reaching a daily record of 663,000 boepd. This is about 100,000 boepd above the initial planned capacity.Exxon shares were down less than 1%. Its shares have risen more than 13% this year, below the S&P 500's 16% increase, but ahead of other major Western oil rivals.
The amount Hindenburg Research made from its short-seller report on Adani Group pales in comparison to the market value it erased.Barron’s found seven candidates—that aren’t the six tech giants—that have improving Wall Street sentiment, increasing earnings estimates, and haven’t substantially outperformed the market. The performance of the big six stocks has pushed up the return of the overall index.
The stock market will drop 32% in 2025 as the Fed fails to save the economy from a recession, research firm says
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