On this episode of Stock Movers:
- Apple (APPL) shares are rising after the company reported third-quarter results that beat on key metrics, notably iPhone revenue and revenue from the greater China region. It also gave a sales outlook that is stronger than expected. CEO Tim Cook said the company saw an acceleration of growth around the world, including in Greater China and many emerging markets, and that services were a bright spot, topping Wall Street projections.
- Amazon (AMZN) shares are lower after projecting weaker-than-expected operating income and trailing the sales growth of its cloud rivals. CEO Andy Jassy said it was "very early days" in artificial intelligence, and that the company's efforts to lower the costs of running AI applications would draw more customers over time.
- ExxonMobil (XOM) shares are also higher after it posted better-than-expected results due to robust oil production from the Permian Basin and Guyana, despite lower crude prices. CEO Darren Woods said Exxon sees continued growth in the Permian, and the company is focused on "creating value" through acquisitions that combine companies.
- Chevron (CVX) is higher after it outperformed expectations and raised its cash flow outlook after boosting oil production to a record. Chevron warned that crude prices are in danger of falling in coming months due to supply increases from OPEC and its allies.
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