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U.S. electric vehicle maker Xos Trucks Inc is in talks to go public via a SPAC Reuters reported late Monday citing sources. Xos is working a deal to merge with blank-check acquisition company NextGen Acquisition Corp $NGAC which could value the EV start up near $2 billion. Its customers include package delivery United Parcel Service Inc and cash-handling firm Loomis.

Oil giant ExxonMobil reported its fourth quarter earnings Friday with its fourth quarterly loss in a row. The Covid pandemic caused plunging oil demand within a supply glut but early stages of demand recovery are seen. Q1 was $XOM's first quarterly loss in 32 years, leading to the first annual loss in that time. XOM’s new focus is on carbon capture energy-transition technologies

ConocoPhillips reported better than expected fourth quarter earnings before the market opened Tuesday on higher production. Houston based $COP is the largest U.S. based independent exploration and production firm based on production volumes. On Jan. 15, 2021, ConocoPhillips closed the acquisition of Concho.

Chevron reported worse than expected fourth quarter earnings Friday for the third quarter in a row. Nevertheless $CVX increased their dividend payout for the 33rd consecutive year. Capital spending was down, the Noble Energy acquisition completed in October 2020. Revenue continues to be hammered by the coronavirus economic collapse.

Rating agancy S&P on Tuesday puts the majority major oil companies on negative ratings watch or lowered their outlook. Many of the energy sector has massive debt exposure which has exposed them to the lockdown economic collapse. To add salt we are seeing aggressive energy transition by the developed world.

The world's largest oil fields service company Schlumberger reported better than expected Q4 earnings Friday. Revenues in all four reporting segments of Schlumberger fell. Strength came from digital solutions and multiclient seismic license sales.

Morgan Stanley reported better than expected fourth quarter earnings before the bell Wednesday as a resurgence in investment banking dealmaking saw a 46 per cent surge in Q4 revenues versus a year earlier. $MS will resume $2bn in share repurchases back. The bank followed Bank of America, JPMorgan Chase, Wells FargoPNC FinancialGoldman Sachs and Citigroup reporting.

Goldman Sachs, America's largest investment bank reported much stronger than expected fourth quarter earnings before the bell Tuesday. Revenue at all four of $GS businesses rose in the quarter with trading adding the most, jumping 23% to $4.3 billion

Bank of America reported better than expected fourth quarter earnings before the bell Tuesday and announced a $2.9 billion share buyback plan for Q1, the maximum allowed under Federal Reserve regulations. $BAC followed Citigroup $C JPMorgan Chase $JPM. Wells Fargo $WFC reporting

Citigroup posted better than expected Q4 earnings and revenue Friday highlighted by its digital business. $C reported along with other money center banks JPMorgan Chase, PNC and Wells Fargo $WFC. The bank released around $1.5 billion linked to the release of previous credit loan provisions; $JPMC said it is freeing up $2.9 billion in reserves.

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