Why ExxonMobil Stock Crushed the Market on Thursday
The second-to-last day of the trading week saw ExxonMobil's (NYSE: XOM) stock jump more than 3% higher in price. This was due to a pair of factors, one external and the other internal. With that rise, ExxonMobil stock easily topped the bellwether S 500 index's 1.9% increase.
Of the two catalysts, the more impactful one was the latest shareholder-pleasing move from U.K.-based peer and rival . Although that company published third-quarter results that fell short of analyst estimates, it announced a dramatic expansion of its share buyback program.
That $3.5 billion initiative will be in force over the next three months and will bring the total buyback amount to $6.5 billion for the second half of 2023.
Source Fool.com
Royal Dutch Shell B Aktie
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-1,96 %
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