ExxonMobil slides, Amazon and Alphabet jump
Here are some of the stocks the Yahoo Finance team will be watching for you today.
ExxonMobil (XOM) shares fell in early trading. The oil giant reported a big miss on earnings and revenue for the second quarter. Profit dropped 60%, while sales fell 22% from a year ago. Weak refining margins and low energy prices weighed on results. The company’s chief executive Rex Tillerson said the numbers “reflect a volatile industry environment.”
Amazon (AMZN) stock got a nice pop in early trading. The e-commerce giant delivered stronger-than-expected earnings and revenue for the second quarter. Profit hit another record, and revenue soared 31% as its cloud business continued to show robust growth.
Alphabet (GOOGL), Google’s parent company, reported a beat on both its top and bottom lines for the second quarter. Profit surged 24%, while revenue jumped 21% as a big increase in mobile usage drove ad growth.
The delivered earnings per share for UPS (UPS) came in right in line with forecasts for the second quarter, while revenue was a tad shy of estimates. Sales rose about 4% as revenue grew across all its business units, and the company benefited from cost-cuts.
Merck (MRK) posted second quarter earnings and revenue that topped analysts’ estimates. Sales rose about 1% thanks to growing demand for its new cancer and hepatitis treatments.
