Investors had braced themselves for the bad news for Exxon Mobil Corp. and Chevron Corp., and their fears were confirmed on Friday when both power companies reported second-quarter results that showed sharp declining sales and losses amid economic destruction caused by the coronavirus. Exxon XOM, -0.58% reported an adjusted loss …
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Cyprus appealed to Russia on Thursday to help ease tensions with Turkey over natural gas exploration in the eastern Mediterranean, where a long-running dispute over jurisdiction in the energy-rich area has been heating up. A Turkish seismic ship, the Barbaros Hayreddin Pasa, sailed in waters off Cyprus earlier this week. …
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Text size David McNew / Getty Images Exxon Mobil and Chevron report earnings on Friday amid a bleak period for energy reserves. Most of the oil and gas names collapsed on Thursday, because the path back to “normal” in recent months is likely to be more complicated than investors initially …
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Text size It is the busiest week of the second quarter earnings season, with 171 S&P 500 companies slated to report. Things start slowly on Monday, before 3M, Advanced Micro Devices, eBay, McDonald’s, Pfizer, Starbucks and Visa reported on Tuesday. On Wednesday, Boeing, Facebook, General Electric, PayPal Holdings, Qualcomm and …
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Text size David McNew / Getty Images Oil services company Schlumberger is cutting 21,000 jobs after a disastrous quarter. Analysts are optimistic. Schlumberger’s (ticker: SLB) second-quarter results, released Friday morning, were grim at first glance: a 35% year-over-year revenue decline and a plan to cut a quarter from staff. But …
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