Earnings Reports

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Communications-s software company Twilio reported better than expected first-quarter earnings after the market Wednesday that sent the stock soaring over 40% $TWLO is benefitting from the stay at home economy, distributed contact centers and telehealth.

Independent energy company Apache Corp reported a massive loss of $4.48 billion for first quarter earnings after the close Wednesday. $APA followed major oil shale players $XOM, $CVX, $OXY and $FANG in reporting.

Occidental Petroleum reported a lower loss than expected Q1 loss Tuesday, However $OXY. as the biggest Permian Basin producer after the $38 billion Anadarko aquisition is living on a knife edge with the oil price collapse. ExxonMobil , Chevron and Diamondback reported a much sounder position.

Texas independent oil and natural gas company Diamondback Energy reported better than expected first quarter earnings after the market close Monday. $FANG said it will cut oil production further due to the demand collapse from the Covid-19 lockdown.

Chevron reported first quarter results Friday along with fellow oil major ExxonMobil. $CVX announced a 36% jump in earnings with the inclusion of a gain associated with the sale of upstream assets in the Philippines. However top-line fell 11%.with the economic shutdown.

Oil giant ExxonMobil reported better than expected first quarter earnings Friday. However plunging oil demand and collapsing prices saw a nearly $3 billion inventory writedown and $XOM's first quarterly loss in 32 years. Rival Chevron also reported. There are no plans to cut the dividend.

Advanced Micro Devices reported Q1 earnings after the close Tuesday on target after AMD has benefited from the Covid-19 work from home demand for loud computing data centers and increased PC sales but did not give a target for earnings per share sending the stock lower.

Semiconductor giant Intel, the 2nd heaviest weight in the SMH reported better than expected first quarter earnings but guided lower and pulling full year after the close Thursday. $INTC shares fell over 6%.

The world's largest oil fields service company Schlumberger reported shutdown damaged Q1 earnings Friday. The report reflected the expected reduction in North America land activity and seasonal activity in the Northern Hemisphere accelerated by the oil price collapse.

Morgan Stanley reported worse than expected first quarter  earnings before the bell Thursday as the economic lockdown hit. Volatility saw fixed-income trading revenue rise 29% and equity trading rise 20%. $MS followed Bank of America $BAC JPMorgan Chase $JPM, Wells Fargo $WFC, PNC Financial $PNC Goldman Sachs and Citigroup $C reporting

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