After Hours Most Active for Nov 22, 2024 : FLEX, AZTA, NVDA, WPM, AAPL, SMCI, T, EVTR, HL, XOM, TOST, JBLU
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Nov 22 2024
0mins
Source: NASDAQ.COM
NASDAQ 100 After Hours Performance: The NASDAQ 100 is up 5.61 points to 20,781.84 with a total after-hours volume of 134,493,782 shares traded, featuring active stocks like Flex Ltd., NVIDIA Corporation, and Apple Inc., all maintaining or improving their mean recommendations in the "buy range".
Stock Highlights: Notable movements include Flex Ltd. down slightly, NVIDIA Corporation showing positive earnings revisions, and Apple Inc. experiencing an increase in its stock price, while other companies like AT&T and Exxon Mobil remained unchanged in after-hours trading.
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Analyst Views on XOM
Wall Street analysts forecast XOM stock price to fall
19 Analyst Rating
12 Buy
7 Hold
0 Sell
Moderate Buy
Current: 150.620
Low
114.00
Averages
132.17
High
158.00
Current: 150.620
Low
114.00
Averages
132.17
High
158.00
About XOM
Exxon Mobil Corporation is an energy provider and chemical manufacturer. The Company’s principal business involves exploration for, and production of, crude oil and natural gas; the manufacture, trade, transport and sale of crude oil, natural gas, petroleum products, petrochemicals and a wide variety of specialty products; and pursuit of lower-emission and other new business opportunities, including carbon capture and storage, hydrogen, lower-emission fuels, Proxxima systems, carbon materials, and lithium. Its Upstream segment explores for and produces crude oil and natural gas. The Energy Products, Chemical Products, and Specialty Products segments manufacture and sell petroleum products and petrochemicals. Energy Products segment includes fuels, aromatics, and catalysts and licensing. Chemical Products segment consists of olefins, polyolefins, and intermediates. Specialty Products segment includes finished lubricants, basestocks and waxes, synthetics, and elastomers and resins.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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- Increased Fiscal Revenue: The natural gas sector is expected to generate approximately $4 billion per year in fiscal revenue, providing crucial funding for public services and infrastructure development, thereby promoting socio-economic advancement.
- Sovereign Wealth Fund Growth: Exxon’s Rovuma liquefied natural gas project is projected to add $81 billion to Mozambique's sovereign wealth fund by 2056, further enhancing the country's financial stability and investment capacity.
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See More
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- Increased Fiscal Revenue: The natural gas sector is expected to generate approximately $4 billion per year in fiscal revenue, providing crucial funding for public services and infrastructure development, thereby promoting socio-economic advancement.
- Sovereign Wealth Fund Growth: Exxon’s Rovuma liquefied natural gas project is projected to add $81 billion to Mozambique's sovereign wealth fund by 2056, further enhancing the country's financial stability and investment capacity.
- Investment Scale: The Rovuma project will require around $30 billion in investment, while Eni's planned $7.2 billion floating LNG project will also contribute to Mozambique's economic transformation, aiding the country’s recovery from the civil war that ended in 1992.
See More
US Inflation Hits Three-Year High Amid Geopolitical Tensions
- Rising Inflation: The US consumer price index rose to an annual rate of 4.2% in May, with Trump expressing optimism that prices will drop sharply once the conflict with Iran concludes, reflecting a potentially misleading confidence in economic stability amidst rising costs.
- Geopolitical Tensions: US airstrikes on Iran have escalated tensions in the Strait of Hormuz, driving oil prices higher, with July crude futures increasing by 2.94% to $92.68 per barrel and Brent futures rising by 2.52% to $95.45, indicating market sensitivity to energy price fluctuations.
- Market Volatility: Amid rising inflation and energy prices, Wall Street faced significant declines on Wednesday, with the Dow dropping over 900 points, highlighting investor concerns about future economic prospects, particularly as chip stocks experienced substantial sell-offs.
- Meta's Investment in India: Meta has agreed to lease an AI-enabled data center with a capacity of 168 megawatts from Reliance Industries in India, expected to be delivered within two years, which will enhance Meta's global AI infrastructure and demonstrate its long-term commitment to the Indian market.
See More
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- Market Decline: On Wednesday, the S&P 500 Index fell by 1.62%, the Dow Jones Industrial Average dropped by 1.87%, and the Nasdaq 100 Index decreased by 1.98%, indicating a significant market reaction to rising geopolitical tensions that undermined investor confidence.
- Oil Price Surge: Crude oil prices rose over 2% due to escalating tensions in the Middle East, which not only exacerbated losses in stocks and bonds but also pressured airline and trucking companies, highlighting the profound impact of energy price fluctuations on the overall market.
- Stable Inflation Data: The US May Consumer Price Index rose 4.2% year-over-year, in line with expectations, while core CPI increased by 2.9%, alleviating some inflation concerns, although rising oil prices may reignite scrutiny over inflationary pressures.
- Tech Stock Retreat: Chipmakers and AI infrastructure stocks experienced significant declines, with Nvidia and Tesla both dropping over 3%, reflecting a waning confidence in tech stocks that could influence future investment strategies.
See More
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- Guyana Oil Field Profits: ExxonMobil's operations in Guyana generated $4.7 billion in profit last year, highlighting the region's offshore oil boom as a crucial economic buffer amid geopolitical tensions in the Middle East, thereby enhancing the company's competitive edge in the global oil market.
- Chevron Acquisition Benefits: Chevron's acquisition of Hess is projected to yield $2.89 billion in profits from Guyana by 2025, a strategic move that not only solidifies its market position in the region but also lays the groundwork for future growth.
- Low-Cost High-Yield: The Stabroek block in Guyana spans 6.6 million acres and boasts breakeven costs as low as $25 per barrel for ExxonMobil's projects, significantly below the global average, with total production capacity expected to reach 1.7 million barrels per day by 2030, greatly enhancing profitability.
- Investor Appeal: Both ExxonMobil and Chevron have consistently increased dividends for 43 and 39 years respectively, and their investments in Guyana are expected to provide stable cash flows and long-term growth potential, making them ideal candidates for income-seeking investors.
See More
Guyana Oilfield Production Set to Double to 1.7 Million Barrels
- Production Growth Potential: The Stabroek oilfield in Guyana is projected to reach a production level of 1.7 million barrels per day by 2030, nearly doubling current output, which will significantly enhance ExxonMobil and Chevron's market position and profitability.
- Significant Investment Returns: ExxonMobil's operations in Guyana generated $4.7 billion in profit last year, highlighting the strategic importance of the region's oil development as a buffer during geopolitical crises, attracting dividend-seeking investors.
- Low-Cost High-Yield: The breakeven cost for projects in the Stabroek oilfield is as low as $25 per barrel, well below the global average, providing ExxonMobil and Chevron with a competitive edge in volatile oil price environments and expected profit growth.
- Long-Term Strategic Positioning: ExxonMobil plans to invest over $60 billion in the Stabroek block, with production expected to reach 1.2 million barrels per day by 2027 and 1.7 million barrels per day by 2030, demonstrating the company's long-term commitment and growth potential in the region.
See More
US Stocks Decline as Chip and Airline Stocks Weigh Down Market
- Market Decline: The S&P 500 Index fell by 0.61%, the Dow Jones Industrial Average dropped by 0.88%, and the Nasdaq 100 Index decreased by 0.80%, indicating investor concerns over chipmakers and AI infrastructure stocks, which reflects a weakening confidence in technology stocks.
- Inflation Data Impact: The US May Consumer Price Index rose by 4.2% year-on-year, meeting expectations and marking the fastest increase in three years, which, while easing inflation concerns, still affects market sentiment and leads to more cautious expectations regarding future interest rate policies.
- Pressure on Airlines and Transport: Trucking companies are under pressure as Amazon expanded its LTL freight service, with Old Dominion Freight Line and FedEx Freight down over 4% and 3% respectively, indicating growing concerns about increased competition in the transportation sector.
- Energy Stocks Rise: WTI crude oil prices increased by over 1%, boosting energy producers like Devon Energy by more than 5%, suggesting that despite overall market weakness, the energy sector's profit outlook remains optimistic amid geopolitical tensions.
See More
