GM,Exxon Mobil, J.C. Penney, Boston Beer
08/01/2013 4:07 PM
08/01/2013 4:08 PM
Exxon Mobil Corp., down $1.02 to $92.73
The stock was the biggest decliner among the Dow industrials after the company reported a second-quarter profit of $6.86 billion, its lowest in three years. The oil and gas giant again struggled to boost production and its refining operations weakened.
General Motors Co., up 60 cents to $36.47
The automaker’s July sales rose 16 percent on strong demand for full-size pickup trucks. GM led all major automakers in sales. Nissan, Chrysler and Ford all had 11 percent increases.
J. C. Penney Co. Inc., down 2 cents to $14.58
The retailer disputed a report in the New York Post that claimed lender CIT Group Inc. had stopped providing financial support to suppliers selling to J.C. Penney stores. The company said that it still has the support of all of its key vendors, which are continuing shipments as it tries to turn a profit again.
Pioneer Natural Resources Co., up $19.39 to $174.15
The stock jumped to the top of the S 500 after reversing a year-ago loss for the second quarter as the energy company rode surging crude prices. It also raised the low end of its 2013 production-growth guidance.
Avon Products Inc., down 84 cents to $22.02
Net income at the beauty products company slumped 48 percent as currency exchange rates and an asset sale dragged on the quarter, but it beat Wall Street expectations and shares hit a new high for the year. The company said, however, that U.S. authorities had rejected a $12 million settlement offer related to a bribery investigation.
Boston Beer Co. Inc., up $25.19 to $204.17
The beermaker easily topped Wall Street expectations for the second quarter. The company has ramped up its marketing efforts and lifted its outlook for the full year.
Yelp Inc., up $9.70 to $51.50
Yelp is getting clicks, helping it increase its ad sales. It drew 108 million unique visitors per month in the second quarter, a 38 percent increase from a year earlier. It’s also adding content, with 42.5 million total reviews, up 41 percent from a year ago.
BJ’s Restaurants Inc., down $4.08, $31.56
Higher costs at the restaurant chain more than offset contributions from newly opened stores, though the company says it is on track to open 17 new locations by the end of its fiscal year.
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