Today, ExxonMobil’s stock price retreated despite what appeared to be good earnings news. Investors are still wary even if the oil giant exceeded revenue projections ($83.1 billion vs. $73.2 billion) and analyst goals for earnings per share ($2.06).Some investors may still feel discouraged following ExxonMobil’s earnings report. This is mainly …
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US President Joe Biden on Monday called on oil and gas companies to use their record profits to cut costs for Americans and increase production, or pay a higher tax rate, as he struggled to rein in gasoline prices a week before the midterm congressional elections. In remarks at the …
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US President Biden warned, on Monday, that oil companies would face a “higher tax” on their excess profits if they don’t reinvest in increasing output so as to bring prices at the pump down. “They have a responsibility to act in the interest of their consumers, their community and their …
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The S&P 500 has reclaimed 4700 on Tuesday amid broad US equity market upside as tech recovers post-Powell remarks. The index has recovered more than 2.8% from Monday’s sub-4600 lows.The lack of any fresh hawkish surprises seemed to give the green light for a technical reversal of recent moves. Having …
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The CEO of Total said that the global economic recovery from the Coronavirus pandemic may take two years, ruling out that oil prices will remain at their current high level of $70 a barrel. Patrick Boyan told local media, “I am not betting that prices remain at $70 a barrel. …
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