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Stock Movers Report, your roundup of companies making moves in the stock market. Harnessing the power of Bloomberg data. Let's take a look at some stocks on the move today.
I'm Nathan Hager, joined by Bloomberg Stan Curtis as our earnings focus moves from big tech to big oil. Probably shouldn't be too surprised, Dan, that we got some pretty decent results from Exon Mobile and Chevron this morning.
Good morning, Good morning, Nathan. That's right, big energy, big beat. Not a big reaction right now. So shares of Exon are up about three tenths of a percent in the pre market after the oil major posted first quarter earnings of a dollar sixteen cents dollars and sixteen per share, twenty cents above estimates. Profit, however, dropped to a five year low at under five billion dollars. That includes an
impact of temporary accounting charges. We're starting to see how the iron war is playing out in these companies' balance sheets. So higher energew prices added one point seven billion dollars to earnings for the quarter. That outweighed the four hundred million dollar blow from war related production outages, and the CFO says that about fifteen percent of the company's global output remains offline, and the challenge is they don't know
how long the straight overmoves will be closed. Chevron tick our CVX up about seven tents of a percent. Similar story, slightly bigger beat first quarter a dollar forty five per share in earnings, blasting the ninety cent estimate out of the water. Chevron had already warned of some significant accounting losses on derivatives tied to cargoes, so that led some analysts to slash estimates ahead of the earnings. That may be playing into the size of the beat, and again
surgeon energy prices helping them out. But this company lost a billion dollars in international Refining division due to lower margins on those products as well as unfavorable accounting effects and higher transportation costs.
Okay, So while investors continue to sort through those results, I can't resident dan Estay Lauder is getting a glow up this morning?
It is yes, on radio, we get a glow up every day because I guess that's what we do radio. That's right, because it's a radio. But yeah, ticker el those shares are up nearly twelve percent in the pre market. That's on the back of the firm's plans to cut up to three thousand more jobs to help boost its turnaround plans. A year ago is targeting seven thousand job cuts,
now it's looking for ten thousand. Some of those cuts are coming from the staff at department store as estay Lauder shifts to more online sales, and the company projects that will save them two hundred million in guidance. Following that, they are lifting their full year earnings guidance with an outlook of about two dollars and forty cents per share.
For the fiscal third quarter results, both top and bottom line results did bet America's organic growth was flat, but international sales helped push that to two percent.
Now we should mention Maderna earnings as well, because that stock's getting quite the pop as well.
Ticker mRNA is up eight percent in pre market. First quarter sales more than tripled from a year ago, beating estimates. The vaccine maker's beat was fueled by deals outside of the US. In February, European regulators cleared the company's combination FLEW and COVID shots for adults fifty years and older that helping out the company's top line. The company in the US has face pressure under the Trump administration. The FDA initially refused to review initially refused to review the
company's flu vaccine, then reversed that decision. So we're still waiting to hear of this decision, which should be in by August.
Finn this stock Moover's report from Bloomberg Radio. Check back with us throughout the day for the latest roundup of companies making news on Wall Street and for the latest market moving headlines. Listen to Bloomberg Radio Live, catch us on YouTube, Bloomberg dot com, and on Applecarplay and Android Auto with the Bloomberg Business app.