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As charter members of the elite supermajor clique that also includes Royal Dutch Shell Plc, BP Plc and Total SA, Exxon and Chevron are among the biggest beneficiaries of the 55% escalation in crude prices from the same period in 2016.
First-quarter adjusted earnings fell by 42%, dragged down by wagers on battery-powered and autonomous autos. CEO Mark Fields acknowledged to analysts that Ford needs to do a better job explaining the opportunity for revenue and profit growth ahead.
Boeing Co.’s sales slumped as jet deliveries fell to the lowest in three years with revenues dropping 7.3%. The company needs to make its factories more efficient as it girds for a slowing aerospace market.
"Our cash performance was worse than we expected to start the year,” CEO Jeffrey Immelt said .The results amplify the pressure on Immelt, who is trying to regain momentum after the oil-price slump and sluggish economy constrained growth...