Exxon Reports While Verizon Sells Comcast?
Exxon Mobil Corporation (NYSE:XOM) reported slightly higher fourth-quarter earnings on Tuesday as higher revenue for oil partly compensated for lower natural gas prices and soft refinery returns on chemicals and lubricants.
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Exxon's higher revenue for oil partially compensated for lower natural gas prices and soft refinery returns on chemicals and lubricants. The world’s largest publicly traded oil company reported net income of $9.4 billion for the quarter, up from $9.25 billion the year before. It posted revenue of $121.6 billion, up 16 percent. The improved earnings reflected higher oil prices, which were above $100 a barrel for many benchmark crudes through the period because of continuing unrest in the Middle East and North Africa and strong demand from China and other developing countries. At the same time, natural gas prices continued to plummet in the United States because of a glut resulting from drilling in several shale fields around the country and sluggish demand. – NYTimes. XOM shares closed the day at $83.74, down -2.05% or $-1.75 and volume finished at 27.23M shares traded. Over the past 12 months Exxon Mobil Corp (XOM) shares have traded between a 52-week low of $67.03 and its 52-week high of $88.23. Exxon Mobil Corp shares are now trading with a P/E Ratio of 10.3 and EPS of 8.3.
Exxon Mobil Corporation engages in the exploration and production of crude oil and natural gas, and manufacture of petroleum products, as well as transportation and sale of crude oil, natural gas, and petroleum products. The company manufactures and markets commodity petrochemicals, including olefins, aromatics, polyethylene and polypropylene plastics, and other specialty products.
As Verizon Communications Inc. (NYSE:VZ) pushes for more cable-television and high-speed Internet subscribers, a new competitor is emerging: its own subsidiary, Verizon Wireless. This month, Verizon Wireless stores in Seattle and Portland, Ore., began offering home Internet, cable and telephone service from Comcast Corp. as part of a new joint marketing deal between the cellphone provider and several cable companies. Verizon doesn't offer its competing FiOS broadband and TV service in those markets, but the marketing deal may eventually encroach into FiOS territory, people familiar with the deal say—setting up an awkward clash within the telephone giant. The joint effort with cable companies was unveiled by Verizon Wireless last month as part of a $3.6 billion deal to buy spectrum licenses from Comcast, Time Warner Cable Inc., and Bright House Networks. The Justice Department is investigating whether the deal will hurt competition and raise prices for cable customers, people familiar with the matter said. – WSJ Over the past 12 months Verizon Communications Inc (VZ) shares have traded between a 52-week low of $32.28 and its 52-week high of $40.48. Verizon Communications Inc shares are now trading with a P/E Ratio of 44.4 and EPS of 0.85. VZ shares closed the day at $37.66, up 0.13% and $0.05. Volume finished the day at 14.50M shares traded.