— MGM Resorts International (NYSE: MGM) reported its fourth-quarter 2019 earnings of $$0.08 per share vs $0.26 per share expected.
— Revenue rose by 4% to $3.2 billion versus $3.19 billion expected. Results were hurt by lower than expected hold, weakness in Far East baccarat, and certain one-time items.
–Jim Murren is stepping down as CEO and Chairman prior to the expiration of his contract. He has been the company’s CEO since 2008. The Board has formed a committee to find a replacement for him.
— We are also executing on our stated MGM 2020 plan, which is realizing material cost savings and revenue enhancements: Murren
— Company withdrew its fiscal 2020 full year financial targets due to market-wide weakness and impact from coronavirus. The Macau casinos are currently closed.
— MGM stock fell 3.5% following the announcement.
Energy giant ExxonMobil Corporation (NYSE: XOM) reported a profit for the second quarter of 2021, compared to a loss last year, even as operating conditions continued to improve. The results
Caterpillar Inc (NYSE: CAT) reported second-quarter 2021 financial results before the regular market hours on Friday. The manufacturer of construction machinery and equipment reported Q2 revenue of $12.9 billion, up
Chevron Corporation (NYSE: CVX) reported second-quarter 2021 earnings results today. Total revenues amounted to $37.5 billion compared to $13.4 billion in the year-ago period. The reported net income was $3.1