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CVX - Long Swing Play
- 8:51 AM More on Chevron's (CVX) Q4: U.S. upstream earnings up 72% Y/Y to $1.61B. Downstream operations in U.S. lost $204M vs. $475 profit a year ago. Average selling price of crude oil and natural gas liquids 28% higher Y/Y to $101. Shares -1.4% premarket.
- 8:32 AM Chevron (CVX): Q4 EPS of $2.58 misses by $0.36. Revenue of $58.03B (+11.5% Y/Y) misses by $12.9B. Shares -1.1% premarket.
- Thursday 6:40 PM More problems for Chevron (CVX) in South America, as a Brazilian prosecutor says he plans to file criminal charges against the oil giant and some of its local managers within weeks, adding the threat of prison sentences to an $11B civil lawsuit as punishment for a November offshore oil spill. CVX also is contesting an $18B judgment in Ecuador.
- Thursday 11:44 AM A federal appeals court throws out an injunction that blocks the enforcement of an $18B judgement made against Chevron (CVX) in Ecuador for the spilling of chemicals into the Amazon basin. Attorneys say they will try to collect the money from Chevron in countries around the world.
