WEBVTT - Big Oil Climbs; Estee Lauder Rises

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<v Speaker 1>Bloomberg Audio Studios, podcasts, radio news, The.

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<v Speaker 2>Stock Movers Report, your roundup of companies making moves in

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<v Speaker 2>the stock market. Harnessing the power of Bloomberg data. Let's

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<v Speaker 2>take a look at some stocks on the move today.

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<v Speaker 1>I'm Nathan Hager, joined by Bloomberg Stan Curtis as our

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<v Speaker 1>earnings focus moves from big tech to big oil. Probably

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<v Speaker 1>shouldn't be too surprised, Dan, that we got some pretty

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<v Speaker 1>decent results from Exon Mobile and Chevron this morning.

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<v Speaker 3>Good morning, Good morning, Nathan. That's right, big energy, big beat.

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<v Speaker 3>Not a big reaction right now. So shares of Exon

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<v Speaker 3>are up about three tenths of a percent in the

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<v Speaker 3>pre market after the oil major posted first quarter earnings

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<v Speaker 3>of a dollar sixteen cents dollars and sixteen per share,

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<v Speaker 3>twenty cents above estimates. Profit, however, dropped to a five

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<v Speaker 3>year low at under five billion dollars. That includes an

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<v Speaker 3>impact of temporary accounting charges. We're starting to see how

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<v Speaker 3>the iron war is playing out in these companies' balance sheets.

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<v Speaker 3>So higher energew prices added one point seven billion dollars

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<v Speaker 3>to earnings for the quarter. That outweighed the four hundred

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<v Speaker 3>million dollar blow from war related production outages, and the

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<v Speaker 3>CFO says that about fifteen percent of the company's global

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<v Speaker 3>output remains offline, and the challenge is they don't know

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<v Speaker 3>how long the straight overmoves will be closed. Chevron tick

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<v Speaker 3>our CVX up about seven tents of a percent. Similar story,

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<v Speaker 3>slightly bigger beat first quarter a dollar forty five per

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<v Speaker 3>share in earnings, blasting the ninety cent estimate out of

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<v Speaker 3>the water. Chevron had already warned of some significant accounting

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<v Speaker 3>losses on derivatives tied to cargoes, so that led some

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<v Speaker 3>analysts to slash estimates ahead of the earnings. That may

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<v Speaker 3>be playing into the size of the beat, and again

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<v Speaker 3>surgeon energy prices helping them out. But this company lost

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<v Speaker 3>a billion dollars in international Refining division due to lower

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<v Speaker 3>margins on those products as well as unfavorable accounting effects

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<v Speaker 3>and higher transportation costs.

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<v Speaker 1>Okay, So while investors continue to sort through those results,

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<v Speaker 1>I can't resident dan Estay Lauder is getting a glow

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<v Speaker 1>up this morning?

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<v Speaker 3>It is yes, on radio, we get a glow up

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<v Speaker 3>every day because I guess that's what we do radio.

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<v Speaker 3>That's right, because it's a radio. But yeah, ticker el

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<v Speaker 3>those shares are up nearly twelve percent in the pre market.

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<v Speaker 3>That's on the back of the firm's plans to cut

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<v Speaker 3>up to three thousand more jobs to help boost its

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<v Speaker 3>turnaround plans. A year ago is targeting seven thousand job cuts,

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<v Speaker 3>now it's looking for ten thousand. Some of those cuts

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<v Speaker 3>are coming from the staff at department store as estay

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<v Speaker 3>Lauder shifts to more online sales, and the company projects

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<v Speaker 3>that will save them two hundred million in guidance. Following that,

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<v Speaker 3>they are lifting their full year earnings guidance with an

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<v Speaker 3>outlook of about two dollars and forty cents per share.

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<v Speaker 3>For the fiscal third quarter results, both top and bottom

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<v Speaker 3>line results did bet America's organic growth was flat, but

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<v Speaker 3>international sales helped push that to two percent.

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<v Speaker 1>Now we should mention Maderna earnings as well, because that

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<v Speaker 1>stock's getting quite the pop as well.

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<v Speaker 3>Ticker mRNA is up eight percent in pre market. First

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<v Speaker 3>quarter sales more than tripled from a year ago, beating estimates.

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<v Speaker 3>The vaccine maker's beat was fueled by deals outside of

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<v Speaker 3>the US. In February, European regulators cleared the company's combination

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<v Speaker 3>FLEW and COVID shots for adults fifty years and older

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<v Speaker 3>that helping out the company's top line. The company in

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<v Speaker 3>the US has face pressure under the Trump administration. The

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<v Speaker 3>FDA initially refused to review initially refused to review the

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<v Speaker 3>company's flu vaccine, then reversed that decision. So we're still

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<v Speaker 3>waiting to hear of this decision, which should be in

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<v Speaker 3>by August.

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<v Speaker 2>Finn this stock Moover's report from Bloomberg Radio. Check back

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<v Speaker 2>with us throughout the day for the latest roundup of

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<v Speaker 2>companies making news on Wall Street and for the latest

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