Speaker 1: Bloomberg Audio Studios, podcasts, radio news, The.
Speaker 2: Stock Movers Report, your roundup of companies making moves in
Speaker 2: the stock market. Harnessing the power of Bloomberg data. Let's
Speaker 2: take a look at some stocks on the move today.
Speaker 1: I'm Nathan Hager, joined by Bloomberg Stan Curtis as our
Speaker 1: earnings focus moves from big tech to big oil. Probably
Speaker 1: shouldn't be too surprised, Dan, that we got some pretty
Speaker 1: decent results from Exon Mobile and Chevron this morning.
Speaker 3: Good morning, Good morning, Nathan. That's right, big energy, big beat.
Speaker 3: Not a big reaction right now. So shares of Exon
Speaker 3: are up about three tenths of a percent in the
Speaker 3: pre market after the oil major posted first quarter earnings
Speaker 3: of a dollar sixteen cents dollars and sixteen per share,
Speaker 3: twenty cents above estimates. Profit, however, dropped to a five
Speaker 3: year low at under five billion dollars. That includes an
Speaker 3: impact of temporary accounting charges. We're starting to see how
Speaker 3: the iron war is playing out in these companies' balance sheets.
Speaker 3: So higher energew prices added one point seven billion dollars
Speaker 3: to earnings for the quarter. That outweighed the four hundred
Speaker 3: million dollar blow from war related production outages, and the
Speaker 3: CFO says that about fifteen percent of the company's global
Speaker 3: output remains offline, and the challenge is they don't know
Speaker 3: how long the straight overmoves will be closed. Chevron tick
Speaker 3: our CVX up about seven tents of a percent. Similar story,
Speaker 3: slightly bigger beat first quarter a dollar forty five per
Speaker 3: share in earnings, blasting the ninety cent estimate out of
Speaker 3: the water. Chevron had already warned of some significant accounting
Speaker 3: losses on derivatives tied to cargoes, so that led some
Speaker 3: analysts to slash estimates ahead of the earnings. That may
Speaker 3: be playing into the size of the beat, and again
Speaker 3: surgeon energy prices helping them out. But this company lost
Speaker 3: a billion dollars in international Refining division due to lower
Speaker 3: margins on those products as well as unfavorable accounting effects
Speaker 3: and higher transportation costs.
Speaker 1: Okay, So while investors continue to sort through those results,
Speaker 1: I can't resident dan Estay Lauder is getting a glow
Speaker 1: up this morning?
Speaker 3: It is yes, on radio, we get a glow up
Speaker 3: every day because I guess that's what we do radio.
Speaker 3: That's right, because it's a radio. But yeah, ticker el
Speaker 3: those shares are up nearly twelve percent in the pre market.
Speaker 3: That's on the back of the firm's plans to cut
Speaker 3: up to three thousand more jobs to help boost its
Speaker 3: turnaround plans. A year ago is targeting seven thousand job cuts,
Speaker 3: now it's looking for ten thousand. Some of those cuts
Speaker 3: are coming from the staff at department store as estay
Speaker 3: Lauder shifts to more online sales, and the company projects
Speaker 3: that will save them two hundred million in guidance. Following that,
Speaker 3: they are lifting their full year earnings guidance with an
Speaker 3: outlook of about two dollars and forty cents per share.
Speaker 3: For the fiscal third quarter results, both top and bottom
Speaker 3: line results did bet America's organic growth was flat, but
Speaker 3: international sales helped push that to two percent.
Speaker 1: Now we should mention Maderna earnings as well, because that
Speaker 1: stock's getting quite the pop as well.
Speaker 3: Ticker mRNA is up eight percent in pre market. First
Speaker 3: quarter sales more than tripled from a year ago, beating estimates.
Speaker 3: The vaccine maker's beat was fueled by deals outside of
Speaker 3: the US. In February, European regulators cleared the company's combination
Speaker 3: FLEW and COVID shots for adults fifty years and older
Speaker 3: that helping out the company's top line. The company in
Speaker 3: the US has face pressure under the Trump administration. The
Speaker 3: FDA initially refused to review initially refused to review the
Speaker 3: company's flu vaccine, then reversed that decision. So we're still
Speaker 3: waiting to hear of this decision, which should be in
Speaker 3: by August.
Speaker 2: Finn this stock Moover's report from Bloomberg Radio. Check back
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