Google Ad

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.

Internet giant Alphabet, owner of Google reported mixed first quarter earnings after the close Tuesday. While digital advertising fell from the Covid-19 lockdown, cloud and YouTube revenues soared sending $GOOGL up 9% after hours.

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

Citigroup posted worse than expected results before the market as lockdown related credit-loss reserves soared to $4.89 billion from $20 million. $C reported after other money center banks JPMorgan Chase $JPM, Wells Fargo $WFC.

Goldman Sachs, America's largest investment bank reported crisis impacted first third quarter earnings before the bell Wednesday. $GS was hit by losses in lending and debt investments. Goldman boosted its provision for credit losses to $937 million from $224 million.

Bank of America reported worse than expected first quarter earnings before the bell Wednesday. BofA set aside $4.76 billion for potential loan losses vs. $1.01 billion a year earlier. $BAC followed Citigroup $C JPMorgan Chase $JPM. Wells Fargo $WFC reporting

Wells Fargo reported worse than expected Q1 earnings before the bell Tuesday. $WFC reported along with JPMorgan $JPM&. The bank was hit by ramifications from COVID-19  with a$3.1 billion reserve build and a $950 million impairment of securities

Google ads