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☆ These stocks set to report earnings next week have a record of beating expectations
▼ + stars: | 2024-07-25 | by ( Hakyung Kim | ) www.cnbc.com time to read: +3 min

A third of the S & P 500 companies are set to report earnings next week. As the busiest week of earnings season approaches, here are some companies that have historically posted a beat and rallied afterward. Amazon , Apple , Merck and Exxon Mobil are among the companies slated to release their quarterly results. With this in mind, Bespoke Investment Group screened for companies reporting next week whose quarterly earnings have managed to beat consensus analyst estimates at least 75% of the time. Additionally, the stocks in the screener all have gained on average 1.5% the day of or following their earnings release.

Persons: Oppenheimer, Meta's, Steve Madden Organizations: Apple, Merck, Exxon Mobil, Investment, Meta, Nasdaq, Mastercard, Bank of America Locations: China, Wednesday's

☆ This energy giant could soon see a breakout to fresh all-time highs, according to the charts
▼ + stars: | 2024-07-24 | by ( Frank Cappelleri | ) www.cnbc.com time to read: +3 min

XOM is within 7% of its 52-week high of $123.75 from April 12, which also is its all-time high. However, that same volatile trading range since April has become part of a much larger potential bullish pattern — which is best seen on this weekly chart. The area shaded in yellow is the same bullish pattern highlighted above. In other words, a breakout to new highs now finally would help extend the 14-year bullish pattern breakout (2008-2022). The best-case scenario, then, would be seeing XOM breakout on both an absolute and relative basis.

Persons: XOM, It's Organizations: Exxon Mobil, Chevron, CNBC, NBC UNIVERSAL

☆ Here’s where Kamala Harris stands on climate and energy
▼ + stars: | 2024-07-23 | by ( Ella Nilsen | ) edition.cnn.com time to read: +6 min

CNN —As Vice President Kamala Harris marches toward the Democratic nomination, climate advocates like what they see. And as vice president, Harris made the crucial tie-breaking vote to pass Democrats’ historic climate bill. “Vice President Harris would kick ass against Trump,” Biden’s first national climate adviser Gina McCarthy said in a statement. Given the stakes, climate advocates are eager to shine a light on the stark contrast between Trump and Harris. That’s the critical work for her in the coming days.”Second-term prioritiesA second Democratic administration will continue implementing Biden’s climate bill and defend many of Biden’s marquee climate rules against legal challenges.

Persons: Kamala Harris, he’s, Joe Biden, Harris, Tiernan Sittenfeld, ”, Gina McCarthy, Donald Trump –, “ It’s, Trump, ” Jamal Raad, “ Harris, Lori Lodes, Biden, Michael Regan, Saul Loeb, –, Stevie O’Hanlon, “, ” O’Hanlon, That’s, Ben King, Regan, I’ll, ” Regan Organizations: CNN, Democratic, League of Conservation Voters, ConocoPhillips, Exxon Mobil, Senate, Green, Trump, Republican, Evergreen, Big, Power, Republicans, Getty, Sunrise, Sunrise Movement, Biden, Agency, Milwaukee Locations: Baltimore, Willow, Paris

☆ Juice your portfolio income with these dividend payers that offer high yields, Wells Fargo says
▼ + stars: | 2024-07-23 | by ( Darla Mercado | Cfp | ) www.cnbc.com time to read: +4 min

High dividend yield stocks can boost investors' portfolio income — if they are willing to take some risk — and Wells Fargo Investment Institute has a list of its favorite picks. Further, a company that offers a high dividend yield may be more likely to cut the payment when times get tough. Chevron , a top pick in Wells Fargo's integrated oils coverage, made the high dividend yield list. Wells Fargo Investment Institute also highlighted PepsiCo in its high dividend yield screen. Other names on Wells Fargo's high dividend yield list include Medtronic , Lockheed Martin and Cisco Systems .

Persons: Thomas Christopher, Christopher, Wells, Roger Read, Hess, Read, Jefferies, Kaumil Gajrawala, Omnicom, Lockheed Martin Organizations: Wells, Wells Fargo Investment Institute, Investment Institute, Chevron, Exxon Mobil, Hess Corp, PepsiCo, Gatorade, Quaker Oats, Frito, Omnicom, Lockheed, Cisco Systems Locations: Wells Fargo, Guyana

☆ Investors to decide if the one-week rotation into small caps can last all summer
▼ + stars: | 2024-07-17 | by ( Bob Pisani | ) www.cnbc.com time to read: +3 min

A week ago, investors were scoffing at the idea that small caps and value stocks might have a genuine summer rally. The S & P 500 Value ETF (IVE) , which holds stocks like Berkshire Hathaway , JP Morgan , Exxon Mobil and Johnson & Johnson , finally hit a new high after lagging the tech-dominated S & P 500 Growth ETF (IVW) for more than a year. This fund holds the entire stock market, minus the S & P 500. VXF 1M mountain Vanguard Extended Market ETF over the past month. This trend of buying small caps and value is clearly more than a one-day wonder: It's now a one-week wonder.

Persons: Berkshire Hathaway, JP Morgan, Johnson, Dave Nadig, Russell Organizations: Exxon Mobil, Johnson, Value, Opportunity Locations: Berkshire, United States

☆ The World Is Pushing Clean Energy. Oil Companies Are Thriving.
▼ + stars: | 2024-07-16 | by ( Rebecca F. Elliott | Desiree Rios | ) www.nytimes.com time to read: +1 min

For all of the focus on an energy transition, the American oil industry is booming, extracting more crude than ever from the shale rock that runs beneath the ground in West Texas. The stocks of some oil and gas companies, such as Exxon Mobil and Diamondback Energy, are at or near record levels. The industry’s revival after bruising losses during the Covid-19 pandemic is due largely to market forces, though Russia’s war in Ukraine has helped. U.S. oil prices have averaged around $80 a barrel since early 2021, compared with roughly $53 in the four years before that. That the price and demand for oil have been so strong suggests that the shift to renewable energy and electric vehicles will take longer and be more bumpy than some climate activists and world leaders once hoped.

Organizations: Exxon Mobil, Diamondback Energy Locations: West Texas, United States, Ukraine, U.S

☆ Citi says take profits in AI 'highfliers,' gives safe alternatives if tech shares start to fall
▼ + stars: | 2024-07-09 | by ( Samantha Subin | ) www.cnbc.com time to read: +2 min

It's time for investors to consider taking profits in some high-flying artificial intelligence names, according to Citi. The value of AI linchpin Nvidia has more than doubled year to date, while Super Micro Computer has tripled. Given this backdrop, Pettit recommends investors take profits in popular AI names — most notably the enabler stocks like semiconductors — and allocate funds "across the theme's value chain." MCD YTD mountain Shares this year Several popular consumer staples stocks are in the basket, including Kraft Heinz and J.M. Hartford Financial Services Group is the most negatively correlated stock in the basket, with shares up 25% this year.

Persons: propping, Drew Pettit, Pettit, Kraft Heinz, J.M, Chubb Organizations: Citi, Nvidia, Gilead Sciences, Hartford Financial Services, Allstate, Honeywell, Exxon Mobil . Correction Locations: Biopharmaceutical

☆ Investors can nab attractive dividends with these high-quality stocks
▼ + stars: | 2024-07-08 | by ( Michelle Fox | ) www.cnbc.com time to read: +5 min

Those dividends may begin to look more attractive to investors as the Federal Reserve starts cutting interest rates. UBS compiled a list of global, high-quality dividend stocks using its quantitative models, as well as its fundamental analysts. "Throughout the process, we emphasise the stability and growth potential of dividend streams, as opposed to the current yield," analyst Claire Jones said. Investors can grab a 2.69% dividend yield with Home Depot . The oil giant boasts a 3.35% dividend yield and is up more than 11% so far this year.

Persons: What's, Claire Jones, Richard McPhail, Giovanni Staunovo, Brent, Jonathan Woloshin, Sempra, Jeffrey Martin, CNBC's Jim Cramer, Melissa Repko, Spencer Kimball Organizations: UBS, Federal Reserve, Depot, CNBC, Exxon Mobil, Exxon, Pioneer Natural Resources, CME Group, JPMorgan, Group, Utilities Locations: Saudi, Aramco

☆ Southwest Airlines shareholders puzzled by Elliott's activism can look to past campaigns for insight
▼ + stars: | 2024-07-06 | by ( Rohan Goswami | In Rohangoswamicnbc | ) www.cnbc.com time to read: +12 min

Rather than sparking typical cheer on Wall Street, Elliott's campaign, spelled out in a 50-page presentation, led to confusion and concern among investors and customers. Several activism experts pointed to two of Elliott's past targets for insight into the hedge fund's strategy for Southwest: Suncor Energy in 2022 and Marathon Petroleum in 2019. Elliott partner John Pike, who is now leading the Southwest campaign, was involved in the firm's actions at both energy companies. Pike and portfolio manager Bobby Xu are leading Elliott's Southwest campaign. But in 2018, a few months after reaching an agreement with Elliott, Marathon announced it was only getting bigger.

Persons: David Paul Morris, Elliott, Bob Jordan, Gary Kelly, Elliott hasn't, Southwest's, John Pike, Haviv Ilan, Marc Benioff, Jordan, Pike, Bobby Xu, Vinson, Elkins, Mark Little, Elliott's Pike, Suncor's, Little, Rich Kruger, Candace Elliott, Marathon, Weeks, Gary Heminger, Mike Hennigan, Hennigan, hasn't, It's, isn't, Kelly, it's, Xu, — CNBC's Leslie Josephs Organizations: Southwest Airlines, Oakland International Airport, Bloomberg, Getty, Elliott Management, Southwest, Melius Research, Suncor Energy, Marathon Petroleum, Marathon, Etsy . Texas, of America, Suncor's Petro, Canada, Canadian, Petro - Canada, Petro, Exxon Mobil, Reuters, Speedway, Elliott, Company, Heminger, Artisan Partners, Suncor, Southwest Airlines Pilots Association, CNBC Locations: Oakland , California, Dallas, Suncor, New York, West Palm Beach , Florida, Etsy, Canada, Sherwood Park , Alberta, Marathon, Southwest

☆ Trade Tracker: Jenny Harrington sells Exxon Mobil
▼ + stars: | 2024-07-05 | by ( ) 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 EmailTrade Tracker: Jenny Harrington sells Exxon MobilJenny Harrington, CEO of Gilman Hill Asset Management, joins CNBC's "Halftime Report" to explain why she is selling Exxon Mobil.

Persons: Jenny Harrington, Exxon Mobil Jenny Harrington Organizations: Exxon Mobil, Asset Management

☆ Growth, value stocks could see boost from Russell rebalancing
▼ + stars: | 2024-06-29 | by ( Ellie Stevens | ) www.cnbc.com time to read: +1 min

A bullish move may be ahead for both value and growth in the year's second half. The iShares Russell 1000 Growth ETF is up 20% so far this year, while the iShares Russell 1000 Value ETF is up almost 6%. FTSE Russell CEO Fiona Bassett said on "ETF Edge" the indices are built to reflect the nature of the market. As of May 31, FactSet reports the Russell 1000 Growth ETF's top three holdings are Microsoft , Apple and Nvidia . Meanwhile, the Russell 1000 Value ETF's top holdings are Berkshire Hathaway , JPMorgan Chase and Exxon Mobil .

Persons: VettaFi's Todd Rosenbluth, Russell, FTSE Russell, Fiona Bassett, Berkshire Hathaway, JPMorgan Organizations: FTSE, Russell, Microsoft, Apple, Nvidia, JPMorgan Chase, Exxon Mobil Locations: Berkshire

☆ These stocks are the biggest bargains in the S&P 500 heading into the second half
▼ + stars: | 2024-06-24 | by ( Brian Evans | ) www.cnbc.com time to read: +3 min

A collection of stocks with strong earnings potential and discounted valuations may be a good way for investors to find value in the market. CVX YTD mountain Chevron stock. FDX YTD mountain FedEx stock. Altria Group is the most discounted stock on the list, with the stock's trailing 12-month P/E representing a 116% haircut compared with its five-year average. MO YTD mountain Altria Group stock.

Persons: Peer, haven't, Mike Wirth, Thomas Wadewitz Organizations: Nvidia, Broadcom, Qualcomm, CNBC Pro, CNBC, Stock, ., Chevron, Exxon Mobil, FedEx, UBS, U.S . Postal Service, Altria, U.S . Food, Drug Administration, Conagra Brands, Marathon Petroleum Locations: U.S

☆ Judge tosses Exxon lawsuit against activist shareholder Arjuna: Here's what's next for the company
▼ + stars: | 2024-06-20 | 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 EmailJudge tosses Exxon lawsuit against activist shareholder Arjuna: Here's what's next for the companyFormer SEC Chairman Jay Clayton joins 'Squawk Box' to discuss news of a judge ending Exxon Mobil's lawsuit against activist shareholder Arjuna over climate proposal, what's next for the company, and more.

Persons: Arjuna, Here's, Jay Clayton, Exxon Mobil's, what's Organizations: SEC, Exxon

☆ These are Wall Street's favorite S&P 500 picks for the second half
▼ + stars: | 2024-06-19 | by ( Hakyung Kim | ) www.cnbc.com time to read: +2 min

The second half of the year is around the corner, and some stocks are primed to outperform, according to a screen of Wall Street analysts' favorite picks. The following names have 20% or more upside to their analyst price targets and are already in the green for 2024 — indicating their price targets are elevated not just due to a drop in share price. To note, the price targets are 12-month estimates. Out of the four analysts covering the stock, three rate it a buy or a strong buy. Around three-quarters of analysts covering the stock have a strong buy or buy rating.

Persons: Goldman Sachs, Warren Buffet's Berkshire Hathaway, Guggenheim, Hess Organizations: Street, Nvidia, ISI, Citi, CNBC Pro, CNBC, Argus, Disney, Coterra, UBS, Chevron, Exxon Mobil Locations: Warren, Chevron, Guyana

☆ Exxon Suit Over Activist Investor’s Climate Proposal Is Dismissed
▼ + stars: | 2024-06-17 | by ( Sydney Ember | More About Sydney Ember | ) www.nytimes.com time to read: +1 min

A federal judge in Texas on Monday dismissed a lawsuit that Exxon Mobil had filed against an activist investor, Arjuna Capital, over a shareholder proposal that called for cuts in the oil giant’s greenhouse gas emissions. Judge Mark T. Pittman of U.S. District Court for the Northern District of Texas ruled that because Arjuna had withdrawn its proposal and had vowed not to submit similar proposals, Exxon’s claim was moot. “The trend of shareholder activism in this country isn’t going anywhere,” Judge Pittman wrote, but he added that “the court cannot advise Exxon of its rights without a live case or controversy to trigger jurisdiction.”Exxon sued Arjuna and another investor, Follow This, in January to stop their nonbinding resolution from going to a vote of shareholders. A month earlier, Arjuna had filed a proposal for the resolution, which called on Exxon to accelerate its plans to reduce its carbon emissions “and to summarize new plans, targets and timetables,” according to Exxon’s complaint. Follow This then joined in support, the complaint said.

Persons: Arjuna Capital, Mark T, Pittman, Arjuna, Exxon Organizations: Exxon Mobil, U.S, Northern, Northern District of, Exxon Locations: Texas, Northern District, Northern District of Texas

☆ Judge tosses Exxon Mobil lawsuit against activist shareholder Arjuna over climate proposal
▼ + stars: | 2024-06-17 | by ( Spencer Kimball | ) www.cnbc.com time to read: +2 min

A federal judge in Texas on Monday dismissed a controversial lawsuit by Exxon Mobil against activist shareholder Arjuna Capital over a climate proposal, ruling that the investor's promise that it would not submit a similar resolution in the future had rendered the case moot. Exxon had sued Arjuna Capital and another shareholder, Follow This, in January to stop them from submitting a proposal at the oil major's May 29 annual shareholder meeting. However, the oil major proceeded with its lawsuit, claiming that the investors could file a similar proposal at a future shareholder meeting. "Arjuna was caught between a rock and a hard place," Pittman wrote in his ruling Monday. "The SEC is behind the ball on this issue," Pittman wrote in the ruling.

Persons: Arjuna, Mark Pittman, Pittman Organizations: Exxon Mobil, Arjuna Capital, District, Northern, Northern District of Texas, Exxon, Securities, Exchange Commission, SEC, CNBC Locations: Texas, U.S, Northern District, Netherlands, North Carolina, Massachusetts

☆ This ETF strategy may help investors skirt market concentration risk
▼ + stars: | 2024-06-15 | by ( Anna Gleason | ) www.cnbc.com time to read: +2 min

Investors worried about concentration risk in the market may want to consider value-oriented investments. Avantis' U.S. Large Cap Value ETF (AVLV) tracks the Russell 1000 Value index, but with a caveat — the fund managers screen stocks using a profitability overlay. After Apple and Meta , the Large Cap Value fund's next-largest holdings are JPMorgan , Costco and Exxon Mobil , according to FactSet. Avantis' Large Cap Value ETF is up 7.7% in 2024, as of Friday's market close. The Russell 1000 Value index gained 4.5% during the same period.

Persons: Phil McInnis, CNBC's, McInnis Organizations: Avantis Investors, Apple, Meta, JPMorgan, Costco, Exxon Mobil, Financial

☆ Corporate America may soon be handed a large bill for all the buybacks it has been doing
▼ + stars: | 2024-06-12 | by ( Bob Pisani | ) www.cnbc.com time to read: +4 min

The public comment period for the Treasury Department's rule formalizing the 1% tax on buybacks closed Tuesday. That means some of the largest companies in America may soon be getting a tax bill. The goal seems to be to discourage corporate America from buying back stock and instead invest more in hiring people and making capital expenditures. "We have a good shot at beating that old record this year," Silverblatt from S & P Global tells me. Higher growth means companies will be more willing to invest in hiring more people and making capital expenditures.

Persons: Joe Biden, Howard Silverblatt, Silverblatt, Biden Organizations: Treasury, Apple, Microsoft, Exxon Mobil, Wells, Chevron, & $ Locations: America

☆ These stocks are attractively valued and are expected to make new highs
▼ + stars: | 2024-06-09 | by ( Pia Singh | ) www.cnbc.com time to read: +4 min

There's a growing dominance of technology stocks in the stock market. Using LSEG, we searched for stocks outside the concentrated tech universe that are expected to reach new highs. Citizens Financial has a forward P/E ratio of 12.1 and five-year P/E of about 15, while Fifth Third's forward P/E is 11.1 and its five-year slightly lower, at about 10.8. Analysts polled by LSEG think shares have about 18% upside potential, and the stock also has an attractive forward P/E ratio of about 4.77, by far the least of the group. Other attractive stocks that could reach new highs include homebuilder Pultegroup and insurance company Allstate .

Persons: Stocks, Dow, Ryan Grabinski, Kevin Holt, Wolfe, Bill Carache, Carache, General Motors, LSEG Organizations: Nasdaq, Nvidia, Microsoft, Apple, Strategas Securities, CNBC, Oil, Chevron, Exxon Mobil, Invesco Energy, Exxon, ConocoPhillips, Marathon, Citizens Financial Group, Fifth Third Bancorp, Financial, Fifth, Wolfe Research, Automotive, General, Allstate Locations: Guyana, Chevron

☆ Saudi Arabia set to raise over $11.2 billion from Aramco stock sale, priced at lower end of range
▼ + stars: | 2024-06-07 | by ( Ruxandra Iordache | ) www.cnbc.com time to read: +3 min

Saudi Arabia is set to raise more than $11.2 billion from its secondary public share offering in state-controlled oil giant Aramco, after the stock was priced at the lower end of its expected range. The company on Friday said it will price the 1.545 billion of shares on offer at 27.25 Saudi riyal ($7.27) apiece, with the sale expected to take place when markets next open on Sunday. A range of between 26.70 and 29 Saudi riyals per share was floated in the firm's initial marketing. The 27.25 Saudi riyal price is nearly 4% below the public stock's last settlement on the Tadāwul Saudi stock exchange. Investors typically expect a discounted price when new shares enter the public market, because of the increase in the overall supply of stock available to trade.

Persons: Prince, Mohammed bin Salman Organizations: Saudi, Investors, of, Petroleum, Reuters, CNBC, Aramco, Exxon Mobil, Chevron, Aramco's, Public Investment Fund Locations: Saudi Arabia, Aramco, Saudi, Neom

Oppenheimer raised its price target on Microsoft to $500 on the potential of increasing AI adoption. Shares of AT & T are up 9% on the year, but analyst Michael Rollins' $20 price target implies that shares could rise another 9%. Analyst Andrew Obin upgraded the Post-it and Scotch parent to buy from neutral and raised his price target by $15 to $120. Analyst Christopher Nardone upgraded the shoe maker to buy from neutral and raised his price target by $16 to $87. Analyst Jay Sole upped his price target on the clothing maker by $14 to $174, now suggesting upside of 43.4%.

Persons: Oppenheimer, Exxon, Neal Dingmann, Dingmann, aren't, — Spencer Kimball, Michael Rollins, Rollins, Lisa Kailai Han, BofA, Andrew Obin, William Brown, Michael Roman, Brown, Obin, — Alex Harring, Christopher Nardone, Nardone, Skechers, Jeffrey Zekauskas, Zekauskas, Huntsman, Benjamin Soff, Soff, Fred Imbert, PVH, Jay Sole, Calvin Klein, Tommy Hilfiger, Sole, Alex Harring, Morgan Stanley, Dara Mohsenian, Mohsenian, Anthony Chukumba, Chukumba, Gavin Parsons, Parsons, Tami Zakaria, Zakaria, Herc, Morgan, Tim Hsiao, Bernstein's Eunice Lee, NIO, America's Ming Hsun Lee, Timothy Horan, Horan, Rob Sanderson, Sanderson Organizations: CNBC, Microsoft, Loop, Exxon, Natural Resources, Citi, AT, VZ, Bank of America, Huntsman, JPMorgan, Deutsche Bank, UBS, Colgate, Palmolive, Loop Capital, UBS shaves, Boeing, Rentals, United Rentals, Herc Holdings, Wall, 3Q, Bank, OpenAI Locations: Truist, Guyana, OPEC, Thursday's, America's

☆ Former IRS employee charged in $2.1 million Exxon Mobil tax credit theft attempt in Utah
▼ + stars: | 2024-06-07 | by ( Dan Mangan | ) www.cnbc.com time to read: +2 min

A former IRS employee was charged in Utah federal court for allegedly trying to steal $2.1 million in tax credits owed to Exxon Mobil by diverting the funds using a taxpayer database he had access to. Rupe was working at the IRS' service center in Ogden, Utah, in 2021 when he began the diversion scheme, according to an indictment filed Wednesday. As part of his job, Rupe "had the ability to adjust tax, credits, penalties, and interest to certain taxpayer accounts in an IRS computer database," the indictment said. In April 2022, the indictment says, Rupe accessed a database to transfer $2.02 million in tax credits from oil and gas giant Exxon's taxpayer account to Ex Xo Exteriors Ltd.'s taxpayer account, the indictment alleges. More than a year later, in August 2023, Rupe "accessed an IRS database to transfer the diverted tax credit funds from one tax year to another," the indictment says.

Persons: Rodney Quinn Rupe, Rupe Organizations: IRS, Exxon Mobil, Prosecutors, Treasury, Xo Locations: Utah, Syracuse , Utah, U.S, Salt Lake City, Ogden , Utah

☆ What slumping oil prices mean for our stake in Coterra Energy
▼ + stars: | 2024-06-04 | by ( Zev Fima | ) www.cnbc.com time to read: +6 min

U.S. crude prices fell for the fifth straight day Tuesday, but we remain committed to our lone oil-and-gas stock in Coterra Energy . Elevated oil prices have, as a result, pressured discretionary spending and corporate margins. If we get that, then we should see lower oil prices and sustained buying power along with a healthy environment for business investments. And yet we still see reason to stick with Coterra Energy. Indeed, analysts at Citigroup published a research note Tuesday exploring potential takeover targets for Devon Energy, another ex-Club oil stock.

Persons: Goldman Sachs, we've, Coterra, It's, Jim Cramer's, Jim Cramer, Jim, Brandon Bell Organizations: Coterra, West Texas, Organization of, Petroleum, Coterra Energy, ConocoPhillips, Exxon Mobil, ex, Natural Resources, Citigroup, Devon Energy, CNBC, Getty Locations: Coterra Energy, U.S, Gaza, OPEC, Devon, Grandfalls , Texas

☆ Stocks making the biggest moves midday: Bath & Body Works, Carnival, GameStop and more
▼ + stars: | 2024-06-04 | by ( Sean Conlon | ) www.cnbc.com time to read: +3 min

Check out the companies making headlines in midday trading: Bath & Body Works — Shares of Bath & Body Works sank nearly 13% and headed for their worst day since 2021. Bath & Body Works expects earnings to range between 31 cents and 36 cents a share, behind a FactSet estimate of 38 cents in earnings per share. Saia — The freight company popped 6.7% after it posted higher less-than-truckload shipments per workday for April and May compared to a year earlier. Shares of BP and Exxon Mobil fell around 2.3% and 1.6%, respectively, while Diamondback Energy and Chevron shares fell nearly 1%. Stanley Black & Decker — The industrials stock fell about 3.7% after Barclays downgraded the stock to equal weight from overweight.

Persons: Keith Gill, Goldman Sachs, TZE, Goldman, Stanley Black, Decker, Julian Mitchell, Oppenheimer, Jed Kelly, —, Samantha Subin, Michelle Fox, Yun Li, Pia Singh, Lisa Han Organizations: Body, O Cruises, Carnival Cruise, GameStop, Street, Trade, Dominion Freight, Technologies, Energy, BP, Exxon Mobil, Diamondback Energy, Chevron, Barclays

☆ Chevron could outperform Exxon if battle over Guyana assets is resolved this year, fund manager says
▼ + stars: | 2024-05-31 | by ( Spencer Kimball | ) www.cnbc.com time to read: +4 min

Exxon and Chevron are the fund's top two holdings , representing 9.73% and 9.27% of total assets in FSTEX as of April 30. Exxon vs. Chevron Chevron came into the year facing production issues in the Permian Basin and cost overruns at its Tengiz project in Kazakhstan that frustrated investors, Holt said. And investors have taken notice of Exxon's lead position in the lucrative offshore oil development in Guyana. Chevron would look very attractive if the Hess deal closes due to the latter's large stake in Guyana, he said. "There's a little concern that if Chevron doesn't do the Hess deal, then they have to go and do another deal," Holt said.

Persons: Kevin Holt, Hess, Holt, hasn't, XOM, Chevron's, Tengiz Organizations: Exxon Mobil, Chevron, Invesco Energy, Exxon, Hess Corp, Hess, Chevron Chevron Locations: Guyana, U.S, Stabroek, FSTEX, Kazakhstan, Holt, Tengiz

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