Shares of Exxon Mobil Corp. XOM, -4.12% tumbled 4.2% in afternoon trading, putting them on course to close at the lowest level since September 2010, after the oil giant reported fourth-quarter earnings that missed expectations. Cowen analyst Jason Gabelman reiterated his market perform rating after the "negative" earnings report, highlighting the "particularly weak" chemicals business. Fellow oil giant and Dow Jones Industrial Average DJIA, -2.09% component Chevron Corp.'s stock CVX, -3.82% slid 4.5% toward a toward the lowest close since Dec. 24, 2018, after the company also reported an adjusted profit that topped expectations but revenue that missed. Exxon Mobil's stock has not tumbled 15.3% over the past 12 months and Chevron shares have lost 7.1%, while the SPDR Energy Select Sector ETF XLE, -3.12% has dropped 16.4% and the Dow has gained 13.3%.
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February 01, 2020 at 02:58AM
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Exxon Mobil's stock tumbles toward lowest close in 9 1/2 years after earnings - MarketWatch
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