Ford Motor Company (NYSE:F) stock rose 11% after beating expectations and raising its forecast for the full year, while Merck&Company Inc (NYSE:MRK) also raised its forecast and said it could have $7 billion in sales from its anti Covid pill, if approved by regulators. The Commerce Department said the economy at a 2% annualized rate last quarter, with growth dampened by surging Covid infections that put a dent in global manufacturing and supply chains. Chevron Corp (NYSE:CVX)’s third-quarter profit per share is seen at $2.21 on revenue of $40.27 billion, according to analysts tracked by Investing.com.
Big Oil has been out of favor for over a decade. But on the reopen, are the analysts finally bullish?
With oil and gas prices at multi-year highs, U.S. oil producers are poised to deliver the strongest earnings since the onset of the coronavirus pandemic.