Month: February 2020

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Exxon Drops to 15-Year Low Ahead of Annual Strategy Presentation

February 25, 2020 admin Comments Off on Exxon Drops to 15-Year Low Ahead of Annual Strategy Presentation

(Bloomberg) — Exxon Mobil Corp. fell to a 15-year low on Monday amid a broad selloff in equity and commodity markets and just over a week before Chief Executive Officer Darren Woods is scheduled to present the oil explorer’s long-term strategic plan to investors and analysts.The shares have been under pressure since Exxon disclosed disappointing fourth-quarter results in late January and prospects for a near-term recovery were dimmed by the spreading coronavirus. Excess supplies of natural gas, chemicals and motor fuels also weighed on the oil supermajor.Exxon fell 4.7% to close at $56.36 on Monday in New York as Brent …read more […]

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HP Will Return $16 Billion to Investors to Parry Xerox Bid

February 25, 2020 admin Comments Off on HP Will Return $16 Billion to Investors to Parry Xerox Bid

(Bloomberg) — HP Inc. announced it will return $16 billion to shareholders in the form of buybacks, and boost cost cuts, trying to rally investors against Xerox Holdings Corp. for control of the world’s second-largest personal computer maker.HP said it would increase share buybacks to $15 billion from a $5 billion program announced in October. This will result in adjusted profit of $3.25 to $3.65 per share in fiscal 2022, which is about $1 more per share than analysts’ projections. HP also said it would reach out to Xerox to explore a combination on its own terms, rather than succumbing …read more […]

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My Top Coronavirus Picks (You Won’t Believe Pick No. 3)

February 24, 2020 admin Comments Off on My Top Coronavirus Picks (You Won’t Believe Pick No. 3)

Looking back, this just might be the day that the bull market died…
As I’m sure you know, the Dow futures opened down more than 800 points as the rapid spread of the coronavirus sparked fears of a global economic impact.
Making the most headlines was the fact that the virus spread to northern Italy – the country was forced to cancel the famous Venice Carnival after officials said they now have 152 confirmed cases, which is the most in any country outside Asia.
In many respects, everything we saw today had been warned about over the last 2 to 3 weeks, but …read more […]