XOM News & Events

The International Energy Agency has proposed the release of the largest amount of oil reserves in its history, The Wall Street Journal's Matthew Dalton and Bojan Pancevski report, citing officials familiar with the matter said. The release is said to top the 182 million barrel release that IAEA member countries conducted in 2022 when Russia attacked Ukraine, the report states. The proposal is said to have been circulated at the IEA member countries' emergency meeting today, and the decision on the proposal is expected on Wednesday, WSJ states.

The major averages closed little changed as markets traded with a more constructive tone in concert with oil prices pulling back. Oil prices, which had surged above $100 and briefly approached $120 per barrel during the escalation of the Iran conflict, are now coming back in after comments from Donald Trump suggesting the military operation could conclude sooner than previously expected. Meanwhile, CBS News' Jennifer Jacobs reported that there are indications Iran is taking steps to deploy mines in the Strait of Hormuz.In other commodity news, gold prices continue their surge amid market volatility. Despite having an up-and-down 2026, the commodity is climbing towards record highs once again.Get caught up quickly on the top news and calls moving stocks with these five Top Five lists.1. STOCK NEWS:Nvidiaand Thinking Machines Lab announced a gigawatt-scale strategic partnershipBioNTechannounced plans for anto be established and led by BioNTech co-founders Prof. Ugur Sahin, M.D., and Prof. Ozlem Tureci, M.D.HP Enterprisereportedand provided guidance for Q1 and FY26Kohl'sreportedbut guided for a decrease in Q1 comp salesVail Resortsreportedand cut its FY26 resort reported EBITDA view2. WALL STREET CALLS:Qualcommat Underperform at BofACrowdStriketo Overweight at Morgan StanleyRivianto Buy at TD Cowen into R2 launchNovo Nordiskto Hold at TD CowenB. RileyStrategywith Buy on "unmatched scale"3. AROUND THE WEB:Boeingwill delay deliveries of some e737 MAX planes amid wiring flaws, WSJ reportsExxon Mobilis planning to move its legal home to Texas from New Jersey in a move meant to protect the company from shareholder "abuse," WSJ saysRio Tintois in talks with Mongolia over financial terms at the massive Oyu Tolgoi copper mine, with the government seeking lower loan interest costs and the removal of Rio's annual management fee, WSJ reportsAppleincreased its iPhone production in India by 53% last year and now makes a total of 25% of its devices there, Bloomberg saysAmazon'secommerce business has requested a large group of engineers to meet on Tuesday for a "deep dive" into the influx of outages, with the company stating there has been a "trend of incidents" characterized by a "high blast radius" and "Gen-AI assisted changes," FT reports4. MOVERS:Zevra Therapeuticsgains after, with EPS and revenue beating consensusCapricorincreases after announcing the establishment of a new PDUFANiohigher in New York afterand providing guidance for Q1Centenefalls afterand announcing its ACA enrollment is "still in line" with expectations"Crispr Therapeuticslower after announcing a5. EARNINGS/GUIDANCE:ABM, with CEO Scott Salmirs commenting, "ABM is off to a solid start to FY26"Custom Truck One Source, with EPS beating consensusUnited Natural Foodsand provided guidance for FY26UWM Holdingsraised itsPriority Technologyand provided guidance for FY26INDEXES:The Dow fell 34.29, or 0.072%, to 47,706.51, the Nasdaq gained 1.16, or 0.0051%, to 22,697.10, and the S&P 500 advanced 14.51, or 0.21%, to 6,781.48.

Exxon Mobil announced its Board of Directors has unanimously recommended shareholders approve changing the company's legal domicile from New Jersey to Texas. The Board concluded that aligning ExxonMobil's legal domicile with where its leadership and core operations have been based since 1989 will benefit shareholders. "Over the past several years, Texas has made a noticeable effort to embrace the business community. In doing so, it has created a policy and regulatory environment that can allow the company to maximize shareholder value," said Darren Woods, ExxonMobil chairman and CEO. "Aligning our legal home with our operating home, in a state that understands our business and has a stake in the company's success, is important." In making its recommendation, the Board considered Texas' legal and regulatory environment, including its modernized business statutes and the Texas Business Court, which is designed to resolve complex disputes efficiently. When corporate decisions are challenged, Texas courts are required to apply clear, statute based standards, which support sound decision-making. The proposed redomiciliation will not affect business operations, management, strategy, assets, or employee locations. Nor will changing ExxonMobil's legal domicile reduce shareholder rights. The Board determined that shareholder rights under Texas law are largely comparable to those under New Jersey law - and in some areas stronger. ExxonMobil has no plans to adopt elective provisions under Texas law that would diminish shareholder rights currently in place."

Exxon Mobil is planning to move its legal home to Texas from New Jersey in a move meant to protect the company from shareholder "abuse," specifically from what companies see as a proliferation of frivolous shareholder lawsuits in certain areas, Lauren Thomas of The Wall Street Journal reports, citing comments made by Exxon Chief Executive Darren Woods. "Texas is already our operating home, and we think it makes sense to make it our legal home," Woods said.