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☆ Here are Wednesday's biggest analyst calls: Apple, Amazon, Target, AMD, Exxon, Snap, Nike & more
▼ + stars: | 2023-02-01 | by ( Michael Bloom | ) www.cnbc.com time to read: +7 min

Morgan Stanley reiterates PayPal as overweight Morgan Stanley said it's standing by shares of PayPal but that Apple Pay is a formidable competitor for the company. Morgan Stanley initiates Rocket Pharmaceuticals as overweight Morgan Stanley said in its initiation of Rocket Pharmaceuticals that it likes the company's pipeline. Morgan Stanley reiterates Amazon as overweight Morgan Stanley said it's bullish on Amazon's Buy with Prime service for merchants. Morgan Stanley reiterates Walmart as overweight Morgan Stanley said growth remains strong for the Walmart's subscription service, Walmart+. " Morgan Stanley reiterates McDonald's as overweight Morgan Stanley said the fast food giant is well positioned for 2023 after it reported strong earnings on Tuesday.

☆ ExxonMobil, Chevron's big cash shows cheap gas isn’t coming back
▼ + stars: | 2023-02-01 | by ( Tim Mullaney | ) www.cnbc.com time to read: +6 min

Big oil sees political pushback on buybacksFuel prices at a Chevron gas station in Menlo Park, California, on Thursday, June 9, 2022. In the market, and at the oil companies headquarters, it seems the opinions issued from the White House aren't much of a factor in setting financial priorities. The benchmark now is to spend roughly a third of operating cash flow on capital investment, a third on dividends and a third on stock buybacks. Exxon made $76.8 billion in operating cash flow, invested $18 billion back into the business, spent $14.9 billion on dividends and $15.2 billion in stock purchases, according to its cash flow statement. Oil production is increasing

☆ Oil Giants, After Surge in Profits, Are Wary About Spending
▼ + stars: | 2023-02-01 | by ( Clifford Krauss | ) www.nytimes.com time to read: +2 min

While critics often accuse the oil industry of profiteering when prices are high, executives say their companies are prone to cycles. The variables that will determine oil companies’ profitability this year are largely out of their control — in both supply and demand. The International Energy Agency has projected that oil demand this year will grow modestly, by nearly two million barrels a day, reaching 101.7 million barrels a day. The ability of oil companies to provide fuel at reasonable prices could be stretched, especially since they have been cautious about increasing production. And with lockdowns lifted in China, its economy should grow faster, and demand for oil and gas should increase, if the country can overcome a new virus surge.

REUTERS/Charles PlatiauCHICAGO/DETROIT, Jan 31 (Reuters) - The companies that produce goods at the heart of the U.S. consumer economy - SUVs, washing machines, heavy equipment and hamburgers - kept rolling along at the end of 2022. Bellwethers including McDonald's (MCD.N), General Motors, Exxon Mobil (XOM.N), appliance maker Whirlpool (WHR.N) and delivery giant United Parcel Service (UPS.N), posted results that exceeded estimates. That's a good sign for the broader economy, according to Lori Calvasina, equity analyst at RBC Capital Markets. The economy's performance may depend on whether price pressures that have afflicted consumer and business spending start to wane. "As we go into 2023, there is going to continue to be inflation," said Christopher Kempczinski, McDonald's CEO, on the company's earnings call Tuesday.

☆ Exxon Vaults to Record Annual Profit of $55.7 Billion
▼ + stars: | 2023-01-31 | by ( Collin Eaton | ) www.wsj.com time to read: 1 min

Exxon Mobil Corp. rocketed to its highest-ever annual profit last year, riding surging oil prices to resurrect its status as one of America’s most profitable companies and erase billions of dollars of losses incurred during the pandemic. The largest U.S. oil company turned in record annual earnings of $55.7 billion for 2022 in its quarterly earnings Tuesday, outpacing big banks, tech giants and vaccine makers. Among companies that have reported fourth-quarter earnings, only Apple Inc. and Microsoft Corp. have surpassed Exxon’s profit in fiscal 2022 so far, and only Google parent Alphabet Inc. is projected to post a higher return, according to a Wall Street Journal analysis.

☆ Morning Bid: Mind the gap
▼ + stars: | 2023-01-31 | by ( ) www.reuters.com time to read: +3 min

The IMF cited "surprisingly resilient" demand in the United States and Europe, easing of energy costs and the reopening of China's economy. Still, it would be wise for investors to be mindful of a gap between expectations and reality. Flash GDP numbers are due from the euro zone, along with growth data for France and Italy. The Bank of England is set to raise rates by 50 bps to 4.0%, respectively. Money market bets show that the U.S. Federal Reserve is set to raise its policy rate by 25 basis points to 4.50%-4.75% on Wednesday.

☆ Premarket stocks: Is this the beginning of the end for Big Oil's windfall?
▼ + stars: | 2023-01-31 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +6 min

Brutally high oil and gas prices were the talk of the town and one of the largest contributing factors to sky-high inflation. That was bad news for drivers, but ended up being great for the energy industry as oil prices and energy stocks are closely interlinked. As markets fell under the pressures of economic uncertainty, geopolitical chaos, elevated inflation and a hawkish Fed, the energy sector thrived. The S&P ended 2022 down nearly 20%, while the energy sector grew by about 60%. But analysts say US oil companies can’t keep winning for much longer.

☆ Earnings season is all about the '23 guidance, says G Squared's Victoria Greene
▼ + stars: | 2023-01-31 | 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 EmailEarnings season is all about the '23 guidance, says G Squared's Victoria GreeneVictoria Greene, founding partner and chief investment officer at G Squared Private Wealth, joins 'Squawk Box' to discuss Pfizer's quarterly earnings results, Exxon's Q4 results, and more.

☆ Big oil can be lean and not mean
▼ + stars: | 2023-01-31 | by ( Robert Cyran | ) www.reuters.com time to read: +3 min

The $460 billion firm said on Tuesday that it earned $13 billion in the fourth quarter, while Chevron said last week it earned over $6 billion. Oil demand growth has peaked, and may start to decline soon, according to BP’s 2023 Energy Outlook released on Monday. It’s conceivable both could have more cash than debt at the end of the year if the price of oil rises. Big oil can be lean, but not mean. The oil company retired $7.2 billion of debt in 2022.

WASHINGTON, Jan 31 (Reuters) - The White House on Tuesday expressed outrage on Tuesday at Exxon Mobil Corp's record net profit in 2022 of $56 billion, a historical high not just for the company but for the entire Western oil industry. Oil majors are expected to break their own annual records due to high prices and soaring demand, pushing their combined take to near $200 billion. The scale has brought renewed criticism of the oil industry and sparked calls for more countries to levy windfall profit taxes on the companies. A White House statement said Exxon's (XOM.N) profit margin was particularly galling as Americans paid record high prices at the pump. Exxon's CFO Kathryn Mikells responded to growing criticism over the industry's windfall profits and suggested the answer is not increased taxes.

☆ Exxon smashes Western oil majors' earnings record with $56 billion profit for 2022
▼ + stars: | 2023-01-31 | by ( ) www.cnbc.com time to read: +3 min

Exxon Mobil posted a $56 billion profit for 2022, the company said on Tuesday, taking home about $6.3 million per hour last year, and setting not only a company record but a historic high for the Western oil industry. The scale has renewed criticism of the oil industry and sparked calls for more countries to levy windfall profit taxes on the companies. "So that came really from a combination of strong markets, strong throughput, strong production, and really good cost control." Windfall profit taxes are "unlawful and bad policy," countered Mikells. Its results come ahead of what are expected to be strong earnings from Shell on Thursday and from BP and TotalEnergies next week.

☆ Exxon smashes Western oil majors' profits with $56 billion in 2022
▼ + stars: | 2023-01-31 | by ( Sabrina Valle | ) www.reuters.com time to read: +5 min

"Overall earnings and cash flow were up pretty significantly year on year," Exxon Chief Financial Officer Kathryn Mikells told Reuters. "So that came really from a combination of strong markets, strong throughput, strong production, and really good cost control." Exxon boasted that its cash flow from operations soared to $76.8 billion last year, up from $48.1 billion in 2021. Part of it is explained by rising costs in the Permian, with inflation in the double digits, amid "really, really hot" demand for equipments and services, he said. Exxon's results come ahead of what are expected to be strong earnings from Shell plc on Thursday and from BP plc and TotalEnergies next week.

☆ Morning Bid: Fed games
▼ + stars: | 2023-01-31 | by ( Stephen Culp | ) www.reuters.com time to read: +2 min

Feb 1 (Reuters) - A look at the day ahead in markets from Stephen Culp, New York stock market reporter. Asian stocks are primed for a green Wednesday on the heels of a broad rally on Wall Street, as a slew of economic data suggested the Federal Reserve's restrictive monetary policy is working as directed. Risk appetite was largely fueled by economic data, specifically the Employment Cost Index (ECI) which decelerated in the fourth quarter to its slowest growth in a year - yet another sign that decades-high inflation is beginning to cool. This is welcome news for the Fed, which is expected to punctuate its two-day monetary policy meeting on Wednesday with a 25 basis point hike to the Fed funds target rate, its latest salvo in its battle against inflation. On Wednesday, market participants will digest factory and labor market data and parse the Fed's statement and Chairman Jerome Powell's remarks at the subsequent press conference.

☆ Morning Bid: 'Soft landing' or 'no landing'?
▼ + stars: | 2023-01-31 | by ( ) www.reuters.com time to read: +5 min

As U.S. Federal Reserve's Federal Open Market Committee kicks off its two-day policymaking meeting, the economic news from around the world brightened considerably. China's economic activity swung back to growth in January after three months of contraction, according to official business surveys released on Tuesday. The euro zone economy confounded forecasts for a quarterly contraction of gross domestic product in the final three months of 2022. Eurostat estimated GDP in the bloc rose 0.1% in Q4 despite consensus expectations for a fall of 0.1%. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

☆ Stocks sizzled in January as rate hike and inflation fears ebbed
▼ + stars: | 2023-01-31 | by ( Paul R. La Monica | ) edition.cnn.com time to read: +3 min

New York CNN —New year, new attitude on Wall Street. Wall Street is also eagerly awaiting earnings from four key Nasdaq-listed giants later this week: Facebook owner Meta Platforms, Apple (AAPL), Amazon (AMZN) and Google parent Alphabet (GOOGL). Stocks have rallied this month due to hopes that inflation pressures are starting to abate. That should allow the Fed to issue smaller rate increases – and possibly even pause them later this year. Others argue that the Fed is likely to keep raising rates until it is certain inflation is no longer a problem.

☆ January Barometer looks like it will be positive, giving bulls a psychological boost
▼ + stars: | 2023-01-31 | by ( Bob Pisani | ) www.cnbc.com time to read: +3 min

The so-called January Barometer starts 2023 positive with the S & P 500 up 4.6% to start the final trading day of the month. As for the S & P 500 , bulls want to keep the momentum going. To maintain that, the S & P has to stay well above the 4,000 range. Several companies (UPS, Exxon Mobil, Whirlpool) reported revenues that were lower than expectations. 2023 S & P earnings estimates: (year over year) Q1: down 1.7% Q2: down 2.2% Q3: up 3.8% Q4: up 10.1% Source: Refinitiv Want a good example?

☆ Stocks making the biggest moves premarket: McDonald's, UPS, General Motors and more
▼ + stars: | 2023-01-31 | by ( Hakyung Kim | ) www.cnbc.com time to read: +3 min

The company reported an adjusted $2.12 per share on $43.11 billion in revenue. United Parcel Service – Shares of UPS rose 1.9% after the company reported earnings that beat analyst expectations. The company reported earnings of $3.86 per share, well below a Refinitiv consensus estimate of $4.06 per share. The company reported $3.63 in adjusted earnings per share on $5.17 billion of revenue. Wall Street analysts were expected $2.93 in earnings per share on $4.58 billion of revenue, according to StreetAccount.

☆ Market rally since October is broadening out — listen to 'The Homestretch'
▼ + stars: | 2023-01-31 | by ( ) www.cnbc.com time to read: +8 min

WE ARE IN A BULL MARKET AND IWANT TO BUY. A LOT OF PEOPLE SAY IT IS NOTREAL, BUT PUB POWER IS NOT REAL,BUT LINDY IS REAL. >> AND YES, I WAS UPSET THAT WECOULDN'T BUY IT BECAUSE OF THEWAY THAT THE -->> THE WAY THAT RESTRICTIONSWERE. AND YOU CAN BUY IT FROM NOW TOTEND OF THE DAY, BECAUSE THIS ISTHE HOMESTRETCH, AND THEANALYSTS WILL BE COMING UP HARDABOUT IT, AND IT DOES MATTER. >> AND THIS A NEW MARKET SINCEOCTOBER, AND BROADENING, ANDWHEN YOU GET THE SELL-OFFS LIKEYESTERDAY, YOU HAVE TO LISTEN TOWHAT WE ARE THINKING OF BUYINGAND CATERPILLAR TODAY, AND PUTTHE MONEY TO WORK.

☆ Exxon smashes Western oil majors' earnings record with $59 billion profit
▼ + stars: | 2023-01-31 | by ( Sabrina Valle | ) www.reuters.com time to read: +3 min

The scale has renewed criticism of the oil industry and sparked calls for more countries to levy windfall profit taxes on the companies. "So that came really from a combination of strong markets, strong throughput, strong production, and really good cost control." Exxon said it incurred a $1.3 billion hit to its fourth quarter earnings from a European Union windfall tax that began in the final quarter and from asset impairments. Slapping new taxes on oil earnings "has the opposite effect of what you are trying to achieve," she said, adding it would discourage new oil and gas production. Adjusted fourth quarter per share profit was $3.09 per share, below the $3.32 per share forecast by Zacks Financial.

☆ Jobs report to give clues about where economy is headed
▼ + stars: | 2023-01-29 | by ( Paul R. La Monica | ) edition.cnn.com time to read: +8 min

Investors will get another clue when the January jobs report is released on Friday. Economists predict that 185,000 jobs were added last month, a slowdown from the gain of 223,000 jobs in December and 263,000 in November. A further deceleration in the labor market would likely please the Fed, as it would show that last year’s rate hikes are successfully taking some air out of the economy. Along those lines, average hourly earnings, a measure of wages that is also part of the monthly jobs report, are expected to increase 4.3% year-over year. So far, tech earnings season is not off to an inspiring start, with Microsoft (MSFT), Intel (INTC) and IBM (IBM) all reporting weak results.

☆ Amazon, Apple, Alphabet Headline Another Busy Earnings Week
▼ + stars: | 2023-01-28 | by ( Sabela Ojea | ) www.wsj.com time to read: 1 min

Amazon.com Inc.’s quarterly earnings report this coming week will provide insight on the health of online shopping. Apple Inc., Amazon .com Inc., Meta Platforms Inc. and Alphabet Inc. report earnings in the coming week, four of the many companies providing quarterly updates as layoffs and slowing growth hit the tech industry. Leaders across multiple industries—such as fossil-fuel giant Exxon Mobil Corp., pharmaceutical company Merck & Co., fast-food chain McDonald’s Corp. and construction-equipment giant Caterpillar Inc.—are also scheduled to report their financials in the coming week.

☆ Wall St Week Ahead Recession fears pose challenge to energy shares after stellar year
▼ + stars: | 2023-01-28 | by ( Lewis Krauskopf | ) www.reuters.com time to read: +5 min

The S&P 500 energy sector (.SPNY) is up 4.2% year-to-date, slightly lagging the rise for the broader index (.SPX). Goldman Sachs, RBC Capital Markets and UBS Global Wealth Management are among the Wall Street firms recommending energy stocks. He said he is slightly overweight the energy sector, including shares of Chevron and Pioneer Natural Resources (PXD.N). But earnings are expected to decline 15% this year, the biggest drop among the 11 S&P 500 sectors. Energy companies executed $22 billion in share buybacks in the third quarter, just over 10% of all S&P 500 buybacks.

☆ Here comes the biggest week of earnings. Plus an AI ode to the Dow
▼ + stars: | 2023-01-28 | by ( Zev Fima | ) www.cnbc.com time to read: +7 min

While only six companies in the Dow Jones Industrial Average are reporting next week, about 20% of the S & P 500 reports, making it the biggest week of earnings this season. The Dow and the S & P 500 gained 2.2% and 2.9% this week, respectively, while the Nasdaq Composite rose 4.7%. 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.

☆ France and Iraq sign comprehensive strategic partnership agreement
▼ + stars: | 2023-01-27 | by ( ) www.reuters.com time to read: +1 min

France and Iraq signed a treaty seeking to strengthen bilateral relations in anti-corruption, security, renewable energy and culture, the Elysee Palace said in a statement issued in the early hours of Friday. "In terms of alternative energies, they showed their commitment to the implementation of TotalEnergies's (TTEF.PA) multiple-energies project (...) based on solar energy and investments in gas." When TotalEnergies and Baghdad in 2021 signed an agreement to build four giant solar, gas, power and water projects in southern Iraq over 25 years, hopes for an exodus reversal were high. Exxon Mobil (XOM.N), Shell (SHEL.L) and BP (BP.L) have all sought to scale back their operations in Iraq in recent years. Reporting by Akriti Sharma in Bengaluru and Benoit Van Overstraeten in Paris; Editing by Tom Hogue and Sudip Kar-GuptaOur Standards: The Thomson Reuters Trust Principles.

☆ Big Oil poised to smash annual profit records — sparking outcry from campaigners and activists
▼ + stars: | 2023-01-27 | by ( Sam Meredith | ) www.cnbc.com time to read: +2 min

U.S. President Joe Biden has previously singled out Exxon Mobil for making "more money than God" last year. Flush with cash, the energy giants are expected to use their windfall profits to reward shareholders with higher dividends and share buybacks. In June last year, Biden singled out Exxon Mobil for making "more money than God." "They are profiting from the current increase in oil and gas prices, and they are betting on it. And what you see is actually increased investment in oil and gas," Agathe Bounfour, oil campaign lead at the NGO Transport & Environment, told CNBC via telephone.

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