Movers: Amazon.com, Chevron, Capital One, Exxon Mobil, Intel

Scott Peters
28 Apr, 2023
New York City

Amazon.com, Inc declined 3.8% to $105.68 after the online retail platform operator reported weaker-than-expected revenue growth in its cloud services segment. 

Revenue in the first quarter increased 9% to $127.4 billion from $116.4 billion a year ago. 

North America sales advanced 11% to $76.9 billion and international sales rose 1% to $29.1 billion and AWS segment sales advanced 16% to $21.4 billion. 

Net income was $3.2 billion compared to a net loss of $3.8 billion and the company swung to a diluted earnings per share of 31 cents from a loss of 38 cents in the prior year. 

Amazon.com forecasted second quarter revenue between $127.0 billion and $133.0 billion, an increase between 5% and 10% from a year ago.  

Operating earnings between $2.0 billion and $5.5 billion, compared to $3.3 billion a year ago.  

Intel Corporation soared 6.9% to $31.91 after the advanced semiconductor chipmaker reported smaller-than-expected quarterly loss. 

Revenue in the first quarter plunged 36% to $11.2 billion and gross margin dropped to 34.2% from 50.4% a year ago. 

The company swung to a net loss of $2.8 billion from a profit of $8.1 billion and diluted earnings per share was ($0.66) compared to $1.98 a year ago. 

The PC market weakness was one of many challenges faced by the advanced semiconductor company. 

Revenue in the client computing segment declined 38% to $5.8 billion, data center and AI dropped 39% to $3.7 billion, network and edge fell 30% to $1.5 billion but autonomous vehicle focus Mobileye Global increased 16% to $458 million.  

The company forecasted second quarter revenue between $11.5 billion and $12.5 billion and gross margin of 33.2% and diluted loss per share of 62 cents. 

Capital One Financial Corp declined 1.5% to $94.47 after the credit card company reported first quarter earnings that were sharply lower than analyst estimates. 

Chevron Corporation declined 1% to $165.43 after the oil company reported higher first quarter profit despite the decline in oil and natural gas prices. 

Consolidated revenue in the first quarter declined to $50.8 billion from $54.4 billion a year ago. 

Net income in the quarter increased to $6.6 billion from $6.3 billion and diluted earnings per share rose to $3.46 from $3.22 a year ago. 

Worldwide net oil-equivalent production declined 3% from a year ago to 2.97 million barrels per day. 

The company distributed $6.6 billion during the quarter, including dividends of $2.9  billion and share repurchases 22 million for $3.75 billion. The company expects to repurchase $4.375 billion in shares in the second quarter. 

The company's board declared a dividend of $1.51 a share payable on June 12 to shareholders on record on May 19. 

Exxon Mobil Corp rose 1.8% to $119.0 after the oil company reported record first quarter profit, driven by higher output. 

Revenue in the first quarter declined to $86.56 billion from $90.5 billion a year ago. 

Net income in the quarter soared to $11.4 billion from $5.5 billion and diluted earnings per share soared to $2.79 from $1.28 a year ago. 

The company hiked quarterly dividend to 91 cents a common share from 88 cents a year ago, payable June 9 to shareholders on record on May 16.  

Net production in the first quarter was 3.8 million oil-equivalent barrels per day, an increase of nearly 160,000 barrels per day compared to the same quarter last year. 

In the quarter, Exxon Mobil increased oil and gas net production by nearly 300,000 oil-equivalent barrels per day from a year ago, excluding divestments and Russia-based Sakhalin-1 oil field expropriation.  

The oil company started Beaumont Refinery expansion and reached full capacity of 250,000 barrels of production per day in the quarter. 

The company distributed $8.1 billion to shareholders including $4.3 billion of share repurchases, keeping the company on track  to repurchase up to $17.5 billion in 2023.