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SOUTH CHINA SEA

Exxon Mobil (XOM) Down 1.4% after China Warns Foreign Companies on S. China Sea Exploration (Market Intelligence Center)


Exxon Mobil (NYSE: XOM) opened at $80.99. So far today, the stock has hit a low of $80.10 and a high of $80.64. XOM is now trading at $80.34, down $1.14 (-1.4%). Over the last 52 weeks the stock has ranged from a low of $65.99 to a high of $88.23. The company recently announced it discovered hydrocarbons off the coast of Vietnam. The company has a license to explore the area from Vietnam, but the South China Sea is a disputed area claimed by China and other countries. A spokesman for the Chinese foreign ministry was quoted saying, “We hope foreign companies do not get involved in disputed waters for oil and gas exploration and development.” Technical indicators for the stock are bullish and S&P gives XOM a positive 5 STARS (out of 5) strong buy ranking. If you are looking for a hedged play on XOM the stock seems like it could be a candidate for a Janaury out-of-the-money bear-call credit spread above the 90 range. [ABR-Seven Summits Strategic Investments NewsBite]

http://www.marketintelligencecenter.com/newsbites/1311880

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Thủy tinh vỡ: Freelance writer
Age: Bính Thìn
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