Hess or earnings?
4 replies (most recent on top)
Both!
All the result of Mike Wirths poor decision making over the years.
The company he runs , which once rivalled Exxon prior to his takeover, is third rate in exploration now and getting worse as their focus reminds on DEI and LGBT inclusion over performance.
Earnings report tomorrow. Perfect storm of Hess deal souring in investors' eyes, and insiders selling off before another bad earnings report tomorrow. As for Guyana, Exxon is clearly just delaying Chevron as long as possible. Should they win, however (remember Pennzoil scuttling Texaco in a what was considered then a nuisance case?), it will be the death knell for Chevron, and will be marked with a 20% stock price fall and massive layoffs in late 2025.
Market as a whole cratered. Not specific to Chevron.
None. Todays drop in stock price is not specifically for Chevron. WTI dropped 2%. all others doing the same.