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Exxon and Chevron Stocks Fall After Earnings. The Bar Was High.

Exxon and Chevron Stocks Fall After Earnings. The Bar Was High.

With shares of Exxon Mobil and Chevron near their 52-week highs, the companies faced a high bar for their first-quarter earnings reports, both of which were released early on Friday. Chevron, which beat analysts’ earnings estimates by a penny, was down 0.8%. Exxon, which missed estimates, was down 3.6%.