Exxon earnings: Energy giant needs a boost as production concerns loom
Exxon Mobil Corp. needs to regain investor confidence after a couple of shaky quarterly results, but many doubt the third quarter will mark a turnaround for the company and its shares.
Exxon XOM, +1.24% is slated to report third-quarter results before the bell on Friday.
The stock trades at a premium over rival Chevron Corp. CVX, -0.43% on the strength of the company’s balance sheet, which is strong, but investors have started to question whether the premium is entirely justified.
Drill For Income in Chevron Stock — But Only After Earnings
Chevron (NYSE:CVX) reports earnings on Nov. 2 before the bell. The oil giant has enjoyed decades of stability. However, earnings misses have left CVX stock falling slightly over the last 12 months.
Still, CVX benefits from steadily rising oil prices. This pricing has begun to show up in increased earnings. Given the improving prospects for its industry, Chevron stock will serve some types of investors very well regardless of whether it meets estimates.
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Bullish Cash Flow: ACAD, AMRN, JD, TNDM, UA, BLL, UAA, UAA, KNX, MGM, NTNX, TAL, TSN, LB, UAL, DAL
Bearish Cash Flow: bhge, wll, apa
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Tape Reading the SPY ETF
SPY ETF broke the hourly down trend and appears to have one more move higher to reach the $277 price target. APPL trades lower this morning after last night's earnings but stock futures are trading higher.
Another stock specific mixed bag this morning. Getting a lot of questions about "trade expectation" and reading the current tape. If you have this question that's actually good. If you're not questioning whether or not the market offers great trades right now, well then, you don't have a strategy.
Contrary to popular dreams, there ISN'T always something to do. If you're finding yourself getting picky... that's a good thing. That means you have criteria. Keep refining them and you are on the right path.