Exxon Mobil Corp. and Chevron Corp. missed profit and production estimates as wildfires, writedowns and weak refining margins battered oil explorers already reeling under a glut-driven price collapse.
Facebook (FB, Tech30) disclosed on Thursday that it could owe billions due to an IRS investigation into the way it moved assets to an Irish subsidiary to avoid higher taxes.
The S&P 500 and the Dow opened lower on Friday following disappointing earnings from oil majors Exxon and Chevron and a slower-than-expected growth in second-quarter gross domestic product.
second-quarter EPS of 1.78 was way ahead of the Zacks Consensus Estimate of $1.14. The North America and AWS segments were strong contributors to profits while investments in international continued.
Alphabet's recent partnership with Fiat Chrysler to build self-driving car technology into a Chrysler mini van will be the first of many such deals, the Google parent company said Thursday.