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Financial company and market news.

The oil market seems to be in a recovery phase if Exxon Mobil’s first-quarter results are any indication. The mammoth oil company posted a first-quarter profit on Friday after having four straight quarterly losses. The Irving, Texas-based oil company beat both top and bottom-line estimates for the...
On Wednesday, JPMorgan Chase announced that its revenue and profit surpassed the expectations of analysts, due in part to a vigorous trading outcome. The bank’s first-quarter profit amounted to $4.50 per share, or $14.3 billion. That included $1.28 a share from its reserve release. Analysts had previously...
Third-quarter results for the three major credit card companies were less than ideal. Visa, American Express, and Mastercard all reported double-digit losses in the last quarter compared to the previous year’s quarter. The drop in profits pointed back to travel slowdowns because of the coronavirus pandemic. The...
Goldman Sachs crushed analysts’ third-quarter estimates and posted strong results in its asset management and bond trading divisions. Goldman exceeded the $5.57 share estimates and instead generated $9.68 per share or a $3.62 billion profit. Its companywide earnings fell $1 billion more than its...
Stocks surged ahead on Monday with the tech industry leading with robust gains. Last week’s positive performance likely fueled the momentum into this week’s market activity. This, despite rising COVID-19 cases in many states sparking fears of another shutdown. By late Monday, The Dow...
This same time last year Stamps.com stock crashed more than 50 percent in a single day. It wasn’t the only time Stamps.com experienced volatility in its stocks. The same thing happened in May 2019, when shares fell over 60 percent. The news was quite different this past...
Two of the largest technology companies in the U.S. had some of its most significant gains in the S&P 500 during the past year. In 2019, Microsoft and Apple grew 55 percent and 85 percent, respectively. Their growth represented gains larger than the next eight largest contributors...
Thanks to higher trading on Thursday, Saudi Aramco became the world’s first company to have a valuation of $2 trillion. For the second day in a row, stocks were 10 percent higher for the Saudi Arabian oil company, before finally losing some of its gains. 
A leading player in digital banking in the United States, Chime, has quadrupled its worth in less than a year. The ambitious enterprise was valued in March at $1.5 billion. Currently, Chime’s value is $5.8 billion after just nine months. The San Francisco-based startup...
Citigroup reported better than expected earnings results this week for the third quarter. The bank report earnings of $1.97 per share, better than the $1.95 anticipated. Revenue of $18.6 billion beat the anticipated $18.545 billion analysts expected. Currency, commodities, and fixed income trading were...