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☆ Can a new batch of tech earnings rescue the market? Here are the factors at play
▼ + stars: | 2024-04-25 | by ( Jeff Marks | ) www.cnbc.com time to read: +4 min

The market was already headed toward a down session due to disappointing reactions to earnings, which haven't been entirely bad. Club earnings : Microsoft and Alphabet report after the bell Thursday. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB.

Persons: Jim Cramer, haven't, hasn't, it's, Mark Zuckerberg, Amy Hood, Jim Cramer's, Jim Organizations: CNBC, Club, Meta, Tech, Nvidia, Broadcom, Microsoft, PCE, Exxon Mobil, Chevron, Colgate, Palmolive, HCA Holdings, Jim Cramer's Charitable Locations: Abbvie

☆ S&P 500 futures pop in overnight trading, boosted by Alphabet and Microsoft: Live updates
▼ + stars: | 2024-04-25 | by ( Yun Li | ) www.cnbc.com time to read: +2 min

Stock futures rose in overnight trading Thursday as Big Tech names Alphabet and Microsoft saw shares rally on strong earnings. S&P 500 futures climbed 0.9% and Nasdaq 100 futures popped 1.2%. The blue-chip Dow slid 375 points Thursday, while the S&P 500 and the Nasdaq Composite dropped 0.5% and 0.6%, respectively. The S&P 500 is up 1.6% week to date, on pace to break a three-week losing streak. So far, about 38% of the S&P 500 companies have reported quarterly results, and nearly 80% of those beat earnings expectations.

Persons: Dow, Thursday's, Dow Jones, Bill Adams Organizations: New York Stock Exchange, Big Tech, Microsoft, Dow Jones Industrial, Nasdaq, Gross, Dow, Comerica Bank, Chevron, Exxon Mobil

☆ Citi upgrades energy sector, says geopolitical tensions could keep oil prices higher for longer
▼ + stars: | 2024-04-22 | by ( Spencer Kimball | ) www.cnbc.com time to read: +2 min

The energy sector should continue to outperform as oil prices are likely to remain higher for longer on geopolitical risk even without a major escalation in the Middle East, according to Citi. The energy sector has gained 13% this year, outperforming the broader S & P 500 . .GSPE .SPX YTD mountain S & P 500 energy sector outperforms Refinery stock Marathon Petroleum is leading the sector's performance with a gain of 33% year to date. "Our commodity team see higher for longer oil given the geopolitical risk even as a severe escalation seems unlikely." "However, in the short-term, the global reflation theme and tensions in the Middle East are keeping prices supported," the Citi team told clients.

Persons: Dirk Willer Organizations: Citi, Energy, Marathon Petroleum, Exxon Mobil, Chevron, Brent Locations: Refinery, Israel, Iran, Rafah, Russia, Saudi Arabia

☆ The US dollar is strengthening. Here’s what’s driving the rally and what it means for Americans
▼ + stars: | 2024-04-21 | by ( Bryan Mena | ) edition.cnn.com time to read: +7 min

What does the dollar rally mean internationally? The US Commerce Department releases March figures on new orders for durable goods. The US Commerce Department releases its first estimate of first-quarter gross domestic product. The US Labor Department reports the number of new applications for unemployment benefits in the week ended April 20. The US Commerce Department releases March figures on household spending, income and the Fed’s preferred inflation gauge.

Persons: it’s, Michelle Bowman, Bell, Claudio Irigoyen, It’s, Samantha Delouya, ”, eMarketer, Ross Benes, Wall, Read, Lockheed Martin, Raymond James, Northrop Organizations: Washington CNN, Federal Reserve, Bank of America, Netflix, Verizon, Truist, Albertsons, The Chicago Fed, Visa, Tesla, Pepsico, Novartis, UPS, Lockheed, Banco Santander, Spotify, General Motors, Halliburton, Global, US Commerce Department, Meta, IBM, Boeing, Chipotle, Hilton, Ford, Hasbro, Whirlpool, Wyndham, Microsoft, Mobile, Caterpillar, Comcast, Intel, P Global, Honeywell, Gilead, Northrop Grumman, Valero, Capital, Nasdaq, Southwest Airlines, American Airlines, Citizens Financial, US Labor Department, National Association of Realtors, Bank of Japan, Exxon Mobil, Chevron, HCA Healthcare, Colgate, Palmolive, Phillips, Charter Communications, University of Michigan Locations: Europe, Japan, China, Roku

☆ 6 portfolio stock earnings and the Fed's favorite inflation gauge dominate the week ahead
▼ + stars: | 2024-04-20 | by ( Zev Fima | ) www.cnbc.com time to read: +11 min

The Nasdaq sank 2% on Friday as Netflix dropped nearly 11% post-earnings and Club stock Nvidia fell 10%, entering bear market territory but still up more than 50% in 2024. Following a much stronger-than-expected March retail sales report last month, fresh economic data and six Club stock earnings will take center stage in the week ahead. While lower rates may help stock multiples, that is not a sustainable path to higher equity prices over time. Earnings : The latest quarterly reporting season is starting to ramp into high gear with six Club names set to report next week. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio.

Persons: Dow, Jerome Powell, Jim Cramer, Mark, Meta, Bing, Ford, Vimal, Lockheed Martin, Clark, Philip Morris, Sherwin, Williams, Baker Hughes, Lam, Northrop, Dr Pepper, CARR, Edwards Lifesciences, Jim Cramer's, Jim, Michael M Organizations: Nasdaq, Netflix, Nvidia, Dow Jones, Federal, Fed, Hamas, Gross, Google, Reality Labs, General Motors, Honeywell, Microsoft, Verizon Communications, Albertsons Companies, SAP, Cadence Design Systems, United Parcel Service, General Electric, GE, PepsiCo, Lockheed, Spotify Technology, RTX Corporation, JetBlue Airways, Halliburton, HAL, Philip Morris International, Quest Diagnostics, Texas Instruments, Seagate Technology, Mattel, Veralto Corporation, Boeing, General Dynamics, Boston, Hilton, Fisher, Otis Worldwide, IBM, Grill, Viking Therapeutics, Lam Research, Whirlpool, WM, Honeywell International, Royal Caribbean Cruises, American Airlines, Altria, Newmont, Caterpillar, Southwest Airlines, Myers Squibb, AstraZeneca, Mobileye, Northrop Grumman, CNBC, Comcast, Merck, Dow Inc, Carrier Global, Union Pacific, Intel, Western, Mobile, L3Harris Technologies, Exxon Mobil, Chevron, Colgate, Palmolive, HCA Healthcare, Charter Communications, Newell Brands, Jim Cramer's Charitable, Traders, New York Stock Exchange, Santiago, Getty Locations: Israel, Iran, Ukraine, destocking, China, Cleveland, Freeport, McMoRan, Kimberly, Masco, Bristol, New York City

☆ Goldman Sachs is strong, Netflix raises questions: What we learned from earnings this week
▼ + stars: | 2024-04-19 | by ( Hakyung Kim | ) www.cnbc.com time to read: +6 min

Of those companies, 73.6% have beaten earnings expectations, FactSet data shows. Investment banks doing well, BofA not so much The major banks that posted results this week — Goldman Sachs , Morgan Stanley and Bank of America — beat earnings expectations. Bank of America shares fell more than 3% despite the company beating on both top and bottom lines. Mixed earnings picture Although nearly three-quarters of the reported earnings so far have topped expectations, the broader earnings picture is more muddled. The blended earnings growth rate, which considers the reports already out and the estimates from those still pending, sits at just 0.16%.

Persons: — Goldman Sachs, Morgan Stanley, Alastair Borthwick, Wells, Mike Mayo, Goliath, Mayo, Goldman Sachs, Wells Fargo's Mayo, Goldman, Ebrahim Poonawala, cyberattack, George Hill, Doug Anmuth, Jessica Reif Ehrlich, Canaccord Genuity, Chris Harvey Organizations: Investment, Bank of America —, Bank of America, Bank of America's, JPMorgan, Wells, of America, Deutsche, Netflix, NFLX's, Revenue, Microsoft, Exxon Mobil

☆ Investors are hoping Big Tech earnings next week could revive a flagging bull market
▼ + stars: | 2024-04-19 | by ( Sarah Min | ) www.cnbc.com time to read: +7 min

The Big Tech earnings next week could revive a flagging market, or at least give investors direction into where stocks are going from here. Wall Street is hoping next week's megacap tech results will give investors insight into where the artificial intelligence trade is going from here, as a bounce in tech could lift the indexes. They're also hoping a slew consumer commentary will give investors insight into the state of the economy. However, he said any pullback in the tech names could give investors an opening to start "nibbling away" at additional exposure. Personal Income 10 a.m. Michigan Sentiment NSA final Earnings: T. Rowe Price Group , Colgate-Palmolive , Exxon Mobil , Chevron , AbbVie , Phillips 66

Persons: Tesla, They're, Kim Forrest, Elon Musk, Emily Leveille, Scott Ladner, Ladner, Horizon's Ladner, FactSet, Baker Hughes, Philip Morris, Lockheed Martin, Raymond James Financial, Rowe Price, Phillips Organizations: Big Tech, Google, Microsoft, Bokeh, Nasdaq, Investors, Deutsche Bank, Reuters, Thornburg Investment Management, Meta, Consumer, Visa, Chicago, Verizon Communications, Ameriprise, Truist, PMI, New, Richmond Fed, Enphase, Tesla, NextEra, Philip Morris International, Halliburton, United Parcel Service, PepsiCo, Lockheed, Raytheon Technologies, GE Aerospace, Grill, Business Machines, Lam Research, Ford Motor, Technology, Waste Management, Universal Health Services, Raymond, Boeing, Hilton Worldwide Holdings, . Kansas City Fed Manufacturing, Mobile, Capital, Financial Corp, Intel, Western Digital, Comcast, American Airlines Group, Southwest Airlines, Valero Energy, Caterpillar, Tractor Supply, Royal Caribbean Group, GE, PCE, NSA, Rowe Price Group, Colgate, Palmolive, Exxon Mobil, Chevron Locations: China, Europe, U.S, NextEra Energy, Freeport, McMoRan, . Kansas, Michigan, AbbVie

☆ Cramer’s week ahead: Earnings from Tesla, Merck and Big Tech
▼ + stars: | 2024-04-19 | by ( Ashley Capoot | In | ) www.cnbc.com time to read: +2 min

Cramer said the Federal Reserve prefers to use the PCE index, not the consumer price index, to best evaluate inflation. He warned that even if the market is oversold next week, the PCE index report on Friday will be where the rubber truly meets the road. Companies like GM , GE Aerospace and Spotify report on Tuesday, but Cramer said Tesla is the one to watch that day. On Thursday, Caterpillar , Merck and the tech giants Microsoft and Alphabet will release earnings. It's going to be a busy week, and Cramer said to be wary of the market and to especially watch out for the PCE index report.

Persons: CNBC's Jim Cramer, Cramer, Tesla, Mark Zuckerberg, Elon Musk, It's Organizations: Verizon, Meta, Microsoft, Federal Reserve, GM, GE Aerospace, Spotify, Boeing, Caterpillar, Merck, Exxon Mobil, Chevron Locations: Cleveland

Asked for proof of his claim that Mr. Biden was personally directing the local cases against him, Mr. Trump pointed to purported ties between prosecutors and “Washington,” but provided no evidence that Mr. Biden had been involved in any of the hiring decisions, conversations or meetings that Mr. Trump cited. The writer E. Jean Carroll filed her first lawsuit against Mr. Trump in November 2019, accusing him of defamation. Faulty and irrelevant comparisonsWhat Mr. Trump Said“I got indicted more than Al Capone.”— in a rally in Ohio in MarchFalse. Mr. Hur described Mr. Biden as a “well-meaning, elderly man with a poor memory” who had “diminished faculties and faulty memory.” He did not declare Mr. Biden mentally incompetent to stand trial. Inaccurate attacks on judgesWhat Mr. Trump Said“Judge Juan Merchan is totally compromised, and should be removed from this TRUMP Non-Case immediately.

Persons: Donald J, Trump, President Biden, Trump’s, ”, Trump Said “ Biden, General Merrick B, Garland, Trump “, Biden, Mr, Doug Mills, Trump Said, Jack Smith, Merrick Garland’s, Fani Willis, Letitia James, Alvin L, Bragg, Matthew Colangelo, Colangelo, —, James’s, Colangelo’s, Bragg ramped, Willis, Willis — Nathan J, Wade, Ketanji Brown Jackson, Kamala Harris, Harris, Crooked Joe Biden, James, Jean Carroll, Smith, Brittainy Newman, Alexei Navalny, Navalny, Letitia James ’, Hunt, PolitiFact, Trump Said “, Al Capone, Capone, Brad Schwartz, Hillary, Bill, Bush, Reagan, Hillary Clinton, Clinton, Bill Clinton’s, Taylor Branch, Branch, “, Barack Obama, George W, Bill Clinton, George H.W, Ronald Reagan, Robert K, Hur, Biden’s, Juan Merchan, Loren, Loren Merchan, Merchan, Merchan’s, Justice Merchan, Ahmed Gaber, Arthur F, Justice Engoron, Engoron Organizations: New York, Democratic Party, Trump, Justice Department, The New York Times, The, White House, Trump . Credit, New York Times, American People, Biden Administration, Prosecutors, Mr, Manhattan, Washington, Fox News, New, Times, White, Counsel’s Office, Supreme, Black, Trump Organization, Democrat, Companies, Exxon Mobil, Trump Foundation, Trump University, Associated, National Archives, Records Administration, TRUMP, Twitter, Credit Locations: Manhattan, Georgia, Trump ., Washington, New York, “ Washington, Fulton County ,, Russian, New, Ohio, Fla, South Carolina, Trump’s Florida, Beach

☆ Cramer's Lightning Round: Instead of Marathon Digital, buy Ethereum or Bitcoin
▼ + stars: | 2024-04-17 | by ( Julie Coleman | ) www.cnbc.com time to read: 1 min

Stock Chart Icon Stock chart icon Exxon Mobil's year-to-date stock performance. We don't like parabolic moves, that's a very good example." Stock Chart Icon Stock chart icon Marathon Digital's year-to-date stock performance. Marathon Digital : "If you want to own Marathon Digital, just go buy either Ethereum or buy Bitcoin, ok. Let's not fool around." Stock Chart Icon Stock chart icon NuScale Power's year-to-date stock performance.

Persons: NuScale Organizations: Exxon, Exxon Mobil Locations: Eaton

☆ Lightning Round: Exxon Mobil, Marathon, Nuscale
▼ + stars: | 2024-04-17 | by ( Jim Cramer | ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailLightning Round: Exxon Mobil, Marathon, Nuscale'Mad Money' host Jim Cramer weighs in on stock including: Exxon Mobil, Marathon and Nuscale.

Persons: Nuscale, Jim Cramer Organizations: Exxon Mobil, Marathon Locations: Marathon

☆ These are the most overbought and oversold stocks on Wall Street after a wild week of trading
▼ + stars: | 2024-04-13 | by ( Lisa Kailai Han | ) www.cnbc.com time to read: +3 min

The stock market ended the volatile week lower, but there could still be opportunities for plenty of companies' shares to rebound. CNBC Pro used its stock screener tool to find the most overbought and oversold stocks on Wall Street as measured by their 14-day relative strength index, or RSI. Stocks with a 14-day RSI above 70 are considered overbought, which indicates that shares might soon turn lower. Devon Energy made the list of overbought stocks, dominated by oil and gas producers, with an RSI of 82. On the other hand, Texas-based life insurer Globe Life , with an RSI of just 3, is among the most oversold stocks on Wall Street.

Persons: Roger Read, Devon, Wells, Deere, Lamb Weston, FactSet, —, Fred Imbert Organizations: Dow Jones, CNBC Pro, Devon Energy, Exxon Mobil, Barclays, Exxon, Truist Securities, Deere, Globe, Research, Securities Locations: Devon, Wells, Delaware, Illinois, Texas, Lamb, Idaho

☆ Wall Street heads into the week ahead on edge as traders brace for a raft of earnings, economic data
▼ + stars: | 2024-04-12 | by ( Sarah Min | ) www.cnbc.com time to read: +7 min

How the corporate America is handling sticky inflation and the prospect of higher interest rates will be top of mind for investors in the week ahead, after this week's choppy moves. The first-quarter earnings season, which kicked off Friday, will give Wall Street insight into how businesses expect to weather an environment of elevated interest rates. More macro data, such as U.S. retail sales, will give insight into how the consumer is handling higher pricing pressures. First-quarter earnings season underway The corporate earnings season kicks into high gear in the week ahead. This week, the small cap Russell 2000 is on track for a losing week, down by more than 1%.

Persons: Bob Doll, CNBC's, Wolfe, Rob Ginsberg, Ginsberg, Goldman Sachs, Morgan Stanley, FactSet, Robert Haworth, Haworth, Charles Schwab, Johnson, D.R, KeyCorp Organizations: Dow Jones Industrial, Exxon Mobil, Costco, Apple, Crossmark, Investments, Investors, Bank of America, Consumer, U.S . Bank, Index, Retail, T Bank, Housing, Manufacturing, Hunt Transport Services, United Airlines, Johnson, Bank of New York Mellon, UnitedHealth Group, Northern Trust, CSX, Discover Financial Services, Prologis, U.S . Bancorp, Philadelphia Fed, American Express, Procter, Gamble, Fifth Third Bancorp, Schlumberger Locations: America, China, NAHB, Vegas Sands, U.S, Horton

☆ Energy stocks are hot again. The rally could have more fuel to burn
▼ + stars: | 2024-04-12 | by ( Krystal Hur | ) edition.cnn.com time to read: +6 min

These robust gains come after a lackluster year for energy stocks. The energy sector fell roughly 5% in 2023, underperforming the broader S&P 500’s double-digit gains as concerns about the global economy hurt energy demand. Some investors say that energy stocks are poised for more gains, given the continued geopolitical turmoil and the US economy’s resilience. Energy stocks often do well when the economy is strong, since there’s more energy demand to fuel goods- and services production. Plug Power shares have slipped 34% this year, SolarEdge Technologies shares have tumbled 25% and Enphase Energy shares have slid 8%.

Persons: Nancy Curtin, “, ”, Bob Doll, he’s, Donald Trump, Trump, Matt Egan, ” Alex Durante, Read, Alicia Wallace, Price Organizations: CNN Business, Bell, New York CNN — Energy, Marathon Petroleum, Exxon Mobil, Occidental Petroleum, Halliburton, West Texas, Brent, Federal Reserve, Energy, RBC Capital Markets, Crossmark Global Investments, Organization of, Petroleum, Clean Energy, SolarEdge Technologies, Enphase Energy, Tax Foundation, CNN, Trump, of Labor Statistics, PPI Locations: New York, Ukraine, OPEC, China, Mexico

☆ Energy, the new momentum trade? Why the sector's strong gains can increase from here
▼ + stars: | 2024-04-08 | by ( Spencer Kimball | ) www.cnbc.com time to read: +3 min

The energy sector has pulled up from behind to overtake nearly every other sector of the market this year and may still have room to advance, according to analysts. The energy sector has gotten a lift as crude oil prices are on a tear this year after plummeting in the last quarter of 2023. The refiners Marathon Petroleum , Phillips 66 and Valero also hit all-time highs on Friday. Diamondback Energy is trading at all-time highs Monday dating back to its IPO in October 2012, while ConocoPhillips is at levels that have not been seen since November 2022. "We think it's a theme that has more to go as well," Ginsberg said of the energy sector rally.

Persons: Jonathan Krinsky, Krinsky, it's, Rob Ginsberg, Brent, Iran teeter, Ginsberg, Valero Organizations: Energy, BTIG, Exxon Mobil, Wolfe Research, Fund, JPMorgan, OPEC, refiners, Petroleum, Phillips, Diamondback Energy, ConocoPhillips Locations: Ukraine, Israel, Iran, Occidental

☆ Sully's Stats: CIC's Malcolm Etheridge shares his takes on Exxon Mobil and Freeport-McMoran
▼ + stars: | 2024-04-05 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailSully's Stats: CIC's Malcolm Etheridge shares his takes on Exxon Mobil and Freeport-McMoranHosted by Brian Sullivan, “Last Call” is a fast-paced, entertaining business show that explores the intersection of money, culture and policy. Tune in Monday through Friday at 7 p.m. ET on CNBC.

Persons: CIC's Malcolm Etheridge, Brian Sullivan, “ Organizations: Exxon Mobil, McMoran, CNBC Locations: Freeport

☆ Energy might be the 'story of the summer,' one CIO says. Here's how to play it
▼ + stars: | 2024-04-02 | by ( Alex Harring | ) www.cnbc.com time to read: +3 min

Energy could be a hot trade this summer, according to Robert Schein, chief investment officer at Blanke Schein Wealth Management. That, in turn, would bode well for shares of energy stocks, Schein said. "I think energy could be the story of the summer," Schein told CNBC Pro. But the ETF rallied more than 57% in 2022, even as the S & P 500 tumbled more than 19%. XLE .SPX YTD mountain The XLE vs. the S & P 500 this year Schein said energy has begn to break out after being "left behind."

Persons: Robert Schein, bode, Schein, Hightower Organizations: Wealth Management, CNBC, Energy, Fund, Exxon Mobil, Chevron, ConocoPhillips, LSEG Locations: of Baltimore, The California

This technical indicator is known as a "golden cross," when a stock's 50-day moving average (DMA) crosses over its 200-day moving average. Investors view a golden cross as a bullish indicator of positive momentum continuing into the longer term. Two of the following three names in the S & P 500 about to form a golden cross pattern are oil companies. The other oil company close to forming a golden cross is Occidental Petroleum . Two-thirds of those covering the company rate it a hold, and the average price target implies upside potential of about 4%.

Organizations: Energy, Exxon Mobil, Exxon, Chevron, Occidental Petroleum, Occidental Locations: Guyana, Occidental

☆ Big Oil’s green-bashing stokes backlash as campaigners hit out at 'talking points from the 1970s'
▼ + stars: | 2024-03-20 | by ( Sam Meredith | In Samuelmeredith | ) www.cnbc.com time to read: +2 min

Aramco and Saudi ministry officials have previously advocated for ongoing investment in hydrocarbons to avoid energy shortages until renewables can fully meet global energy demands. Nasser's comments drew applause from the audience at CERAWeek — an annual energy conference by S&P Global that's known as the "industry's Super Bowl." Other oil and gas executives at the event echoed Nasser's views, but spoke less directly about the state of the energy transition. Separately, Exxon Mobil CEO Darren Woods on Monday said that demand for petroleum products is "still very, very healthy." And the impact that price has on demand," Woods told CNBC's "Squawk on the Street."

Persons: Amin Nasser, Nasser's, Wael Sawan, Darren Woods, hasn't, Woods, CNBC's Organizations: Aramco, Saudi, Shell, Reuters, Exxon Mobil Locations: Houston , Texas, Saudi Aramco, Europe

☆ Exxon CEO: Demand for petroleum still 'very healthy' despite global economic challenges
▼ + stars: | 2024-03-18 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailExxon CEO: Demand for petroleum still 'very healthy' despite global economic challengesExxon Mobil CEO Darren Woods joins 'Squawk on the Street' to discuss if the U.S. is underestimating oil demand, how to understand petroleum demand better, and if there needs to be a fundamental understanding of how the energy transition will play out.

Persons: Darren Woods Organizations: Exxon, Exxon Mobil Locations: U.S

☆ Watch CNBC's full interview with Exxon CEO Darren Woods
▼ + stars: | 2024-03-18 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWatch CNBC's full interview with Exxon CEO Darren WoodsExxon Mobil CEO Darren Woods joins 'Squawk on the Street' to discuss if the U.S. is underestimating oil demand, how to understand petroleum demand better, and if there needs to be a fundamental understanding of how the energy transition will play out.

Persons: Darren Woods Organizations: Exxon, Mobil Locations: U.S

☆ Exxon could make a bid for Hess' oil assets in Guyana if Chevron deal terminates
▼ + stars: | 2024-03-06 | by ( Spencer Kimball | ) www.cnbc.com time to read: +1 min

Exxon Mobil indicated Wednesday it could make a bid for Hess' oil assets in Guyana if the company's merger agreement with Chevron fails due to a dispute over pre-emption rights. Exxon filed for arbitration at the International Chamber of Commerce in Paris Wednesday morning to adjudicate the dispute with Chevron over Hess' Guyana assets, Exxon senior vice president Neil Chapman said during an interview at a Morgan Stanley event. "We are extremely confident in our position that pre-emption rights exist in this contract, and we fully intend on ensuring that we preserve those pre-emption rights," Chapman said. Chevron entered an agreement in October to purchase Hess for $53 billion, in a play to gain a foothold in Guyana's massive offshore oil assets. The oil major has said Exxon's pre-emption rights under the joint operating agreement do not apply to its pending merger with Hess.

Persons: Hess, Neil Chapman, Morgan Stanley, Chapman Organizations: Exxon Mobil, Chevron, Exxon, International Chamber of Commerce, Hess Locations: Guyana, Paris, Hess

☆ Exxon Raises Questions About Chevron’s $53 Billion Deal for Hess
▼ + stars: | 2024-02-27 | by ( Stanley Reed | ) www.nytimes.com time to read: +1 min

America’s two largest energy companies, Exxon Mobil and Chevron, are jousting over a prized new source of oil in the waters off Guyana, in Latin America. The conflict is creating doubts over Chevron’s bid to acquire Hess Corp. for $53 billion, announced in October. With just 800,000 people, Guyana, long one of Latin America’s poorest countries, is now being compared to Qatar, the natural gas-rich Persian Gulf emirate. Exxon has raised concerns over Chevron’s effort to gain entry to this petroleum bonanza through a proposed purchase of Hess’s 30 percent stake in Stabroek. Exxon owns 45 percent of Stabroek and is the operator or manager of the area.

Organizations: Exxon Mobil, Chevron, Hess Corp, Exxon Locations: Guyana, Latin America, Qatar, Stabroek

☆ Croft: Guyana has been a big driver of supply in the oil market, and is hugely important to Exxon
▼ + stars: | 2024-02-27 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailCroft: Guyana has been a big driver of supply in the oil market, and is hugely important to ExxonRBC Capital's Helima Croft discusses the global importance of a giant oil block in Guyana, that's prompting a corporate dispute between Chevron and Exxon Mobil, and stoking geopolitical tensions.

Persons: Helima Croft Organizations: Exxon RBC, Chevron, Exxon Mobil Locations: Croft, Guyana

☆ Hess shares drop as fight with Exxon Mobil over Guyana oil threatens Chevron takeover
▼ + stars: | 2024-02-27 | by ( Spencer Kimball | ) www.cnbc.com time to read: +2 min

Hess Corp shares fell Tuesday after Chevron warned investors that a dispute with Exxon Mobil and China's National Offshore Oil Corp. (Cnooc) over Guyana's offshore oil assets could jeopardize its bid to acquire the company. Chevron said Exxon and Cnooc's claims could delay or completely derail its acquisition of Hess. Chevron said in the filing that it does not believe the joint operating agreement applies to its acquisition of Hess. Neal Dingmann, an analyst at Truist, told CNBC's "Squawk Box" on Tuesday that it is unlikely Exxon and Cnooc will scoop up Hess' Guyana assets. The dispute with Exxon and Cnooc is the latest hurdle that Chevron's bid to acquire Hess faces.

Persons: Hess, —, Exxon, Neal Dingmann, CNBC's, Dingmann Organizations: Hess Corp, Chevron, Exxon Mobil, China's, Offshore Oil Corp, Exxon, Cnooc, Federal Trade Commission Locations: Guyana

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