Exxon Mobil

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Stocks Fall on Economic Reports
 Stocks Fall on Economic Reports
MARKETS
Jul 31, 2008 3:19 PM CDT

Stocks Fall on Economic Reports

Two-day rally quashed, ending July on a sour note

(Newser) - Stocks fell today as worrying economic reports put an end to a 2-day rally, MarketWatch reports. Financials slipped, and energy stocks took a hit as Exxon’s record profit failed to meet analysts' expectations and crude prices continued to fall. The Dow dropped 204.69 to 11,379.00. The...

Exxon Reports Best Quarter in History; Misses Estimates

(Newser) - ExxonMobil reported the biggest quarterly profit in US history today, earning $11.68 billion or $2.22 a share as revenues rose 40% over the previous year. But those stratospheric numbers fell short of Wall Street’s estimates; analysts had expected crude prices, which have doubled over the past year,...

Congress Moves to Ban Toxin Found in Toys

Bush could yet veto bill including measure to keep phthalates away from children

(Newser) - Congressional negotiators have agreed to ban a group of toxins common in children’s toys, part of a consumer-protection bill, the Washington Post reports. The ban mirrors tougher standards at big retailers like Wal-Mart and Toys R Us, and, like those bans, wouldn’t take effect until after the holiday...

Big Oil Deals Absent as Iraq Opens for Bids

No announcement of criticized contracts for Western companies

(Newser) - The Iraqi government opened six oil fields to bidding today, without mention of expected no-bid contracts with big Western oil companies, the AP notes; it had been reported that several big companies were close to signing short-term deals with Iraq's government. "There is no preferential treatment for anyone, no...

Oil Giants to Return to Iraq
 Oil Giants to Return to Iraq
Jun 19, 2008 4:20 AM CDT

Oil Giants to Return to Iraq

Companies booted by Saddam win contracts to service Iraqi oil fields

(Newser) - Four big oil companies chucked out of Iraq by Saddam Hussein 36 years ago are ready to return, the New York Times reports. BP, Exxon Mobil, Shell and Total are about to announced winning coveted no-bid contracts to service Iraqi oil fields. The contracts are short-term, but the firms hope...

Exxon to Sell US Gas Stations
 Exxon to Sell US Gas Stations 
Jun 13, 2008 4:48 AM CDT

Exxon to Sell US Gas Stations

But private distributors will continue to use the company's name, products

(Newser) - Exxon Mobil is getting out of the retail gasoline business, following other major oil companies who've been selling their low-margin stations to gasoline distributors. The world's biggest publicly traded oil company plans to sell to distributors its remaining 820 company-owned stations and another 1,400 outlets operated by dealers. The...

Rockefellers' Green Revolt Fails at Exxon

Bid to open leadership to global warming debate fails

(Newser) - A shareholder revolt at Exxon Mobil by descendants of company founder John D. Rockefeller has failed to force management to split up the dual chairmanship and CEO roles of Rex Tillerson. The proposal to appoint an independent chairman in part to stimulate board debate about global warming garnered 40% of...

As Gas Spikes, Profit Scarce for Station Owners

Oil giants like Exxon hike prices, raise rents, covet every penny

(Newser) - Feeling sorry for gas station owners might be more than the average consumer can muster these days, but, reports the Washington Post, the emotion might not be misguided. Oil giants like Exxon cut owners' profit margins and raise rents, while micromanaging details down to which shelf franchisees place soda on....

Rockefellers Pump Exxon Execs for Changes

Family wants independent chairman, climate change initiatives

(Newser) - Executives at Exxon are bracing for an onslaught from the Rockefeller family, whose patriarch founded the oil firm’s predecessor a century ago, the Wall Street Journal reports. Led by John D. Rockefeller’s great-granddaughter, the family wants Exxon to pursue renewable forms of energy and appoint an independent chairman.

Guess What Oil Execs Make
 Guess What Oil Execs Make  
May 21, 2008 8:19 PM CDT

Guess What Oil Execs Make

Industry bigwigs are grilled by the Senate

(Newser) - Big Oil executives today were grilled by the Senate on soaring prices, and Sen. Patrick Leahy asked for their salaries, the AP reports. Here's what they said:
  • J. Stephen Simon, Exxon: $12.5 millon.
  • John Lowe, ConocoPhillips: Did not recall
  • Peter Robertson, Chevron: Did not recall.
  • John Hofmeister, Shell, $2.
...

High Court OKs Apartheid Cases
 High Court OKs Apartheid Cases 
May 12, 2008 7:14 PM CDT

High Court OKs Apartheid Cases

Claims against big corporations can proceed in federal court

(Newser) - Apartheid victims can sue corporations that dealt with South Africa’s government before 1995, the Supreme Court said today. But the judges did not render a decision, as four of the nine recused themselves, likely due to personal stock holdings. The claims seek $400 billion from companies including Exxon, Citigroup,...

Bad News Pummels Stocks
 Bad News Pummels Stocks 
MARKETS
May 9, 2008 3:28 PM CDT

Bad News Pummels Stocks

AIG, Citi, oil spook investors; even commodities look less safe in downturn

(Newser) - Stocks performed poorly today, battered by another new oil high and bad news from AIG and Citigroup, Bloomberg reports. The Dow lost 120.90 to end at 12,745.88, with a weekly loss of 2.4%. The S&P 500 shed 9.50 to 1,388.28, while the...

Stocks Rally; Dow Up Almost 200
 Stocks Rally; Dow Up Almost 200 
MARKETS
May 1, 2008 3:24 PM CDT

Stocks Rally; Dow Up Almost 200

Fed's latest actions draw late but rave reviews

(Newser) - Stocks rallied today on strong performances by several big tech firms, MarketWatch reports. Investors also poured money into financials in anticipation of the dollar boost the Fed will cause by holding interest rates steady after yesterday’s cut. The Dow climbed 189.87 to at 13,010.00, the Nasdaq...

Exxon Profits Shoot Up 17%, But Still Miss Target

Rise smallest of the big three oil companies

(Newser) - Exxon Mobil’s profits jumped 17% in the first quarter, but still fell short of expectations, Bloomberg reports. Exxon’s number, which was held back by drops in productions and refinery profit margins, looks shabby compared to the world’s other two largest oil companies, which posted 25% and 63%...

Rockefeller Clan Launches Green Revolt at Exxon

Demand new chairman, green agenda

(Newser) - Exxon Mobil is facing a shareholder revolt by most of John D. Rockefeller's 300 descendants, who are pushing for the mammoth company to go greener, reports the Wall Street Journal. The Rockefellers are campaigning for Exxon to develop new energy technology, cut greenhouse gas emissions and appoint a new independent...

Wal-Mart Tops Fortune 500
 Wal-Mart Tops Fortune 500 
Apr 21, 2008 4:07 PM CDT

Wal-Mart Tops Fortune 500

Exxon Mobil repeats 2007 performance, finishes second

(Newser) - Wal-Mart nosed out Exxon Mobil for the second consecutive year to land atop the 2008 Fortune 500, with $37.7 billion in revenues, the magazine said today. In profits, the oil company far outstripped the megaretailer. Three of the top 5 on the list were oil companies, the AP reports....

Congress Grills Oil Execs Over Skyrocketing Prices

Honchos place some blame at legislators' feet

(Newser) - Top oil executives faced a panel of angry lawmakers on Capitol Hill today, as Congress fumed over the disparity between the companies’ hefty profits and soaring prices, the Washington Post reports. Said one rep, “I believe the laws of supply and demand when it comes to oil and gas...

Justices' Stock Portfolios Cripple Cases

Supreme Court left deadlocked by recusals amid calls to divest

(Newser) - The stock portfolios of Supreme Court justices have become a flash point this term, in which six cases could be affected by justices recusing themselves because they own financial stakes in companies involved. Chief Justice John Roberts, Justice Samuel Alito, and Justice Stephen Bryer have bowed out of cases involving...

Oil Insanity Pinned to Speculators
Oil Insanity Pinned to Speculators
Feb 28, 2008 5:54 PM CST

Oil Insanity Pinned to Speculators

Observers call current market 'hysteria' — and 'bubble'

(Newser) - Crude-oil prices have doubled in recent months, a development not linked to fundamental supply and demand—but rather, observers tell Der Spiegel, to rampant speculation among investors looking for a stable buck. The prospect of recession would typically drive prices down, but analysts say a decade-old oil investment rush by...

House Passes Bill to Halt Big Oil Tax Breaks

Veto threat as Republicans call it industry discrimination

(Newser) - Millions of dollars in tax breaks enjoyed by the top five oil companies would be rescinded under an $18 billion tax package which cleared the House of Representatives yesterday. The money saved would be plowed into creating alternative sustainable energy sources. It represents just a penny a gallon to the...

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