Exxon Mobil Corp.’s biggest profit miss in at least a decade is the starkest sign yet that major oil explorers remain mired in the deepest market slump in a generation. After resisting the industry trend of discounting the value of oil and natural gas fields that turned into money-losers amid the 2 1/2-year market slump, Exxon capitulated on Tuesday and took a $2 billion hit on the value of some Rocky Mountain gas.
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ExxonMobil’s $2 Billion Impairment Charge Weighs on Fourth-Quarter Results
Earnings, assuming dilution, were 41 cents a share, falling short of analysts’ expectations of 70 cents per share. Revenue of $61.02 billion for the period was also below forecasts calling for $61.5 billion.
Try These 3 Under-the-Radar Trump Stocks: U.S. Concrete, Forterra and Volaris
Shares of U.S. Concrete have surged 22% since Election Day, but there is more to the bullish story than having a former builder in the White House. Shares of U.S. Concrete have surged 22% since Election Day, but there is more to the bullish story than having a former builder in the White House, said Craig Hodges, portfolio manager of the Hodges Fund .
Tillerson’s Foreign Prowess Said Aided by Exxon Intelligence Arm
Even before Donald Trump tapped him to be the top U.S. diplomat, Rex Tillerson already had his own State Department. Behind the walls of Exxon Mobil Corp.’s secluded corporate headquarters in suburban Dallas, a little-known intelligence unit works to keep top executives informed on economic, social and political situations around the world so they never walk into a foreign negotiation unprepared.