Chevron reported a huge profit decline and a $9 billion revenue miss. The energy giant saw net-income plunge 32 percent as global production slowed and refined products margins weakened. The country’s second largest oil company also gave a weak outlook, disappointing investors. Shares tumbled four percent to $111.63.
Americans spent $600 billion this past holiday season and much of that was charged on their MasterCards. Profits at the credit card company rose three percent, but that was less than Wall Street expected. Disappointed, investors sold the stock. MasterCard fell five percent today to $75.68.
Shares of the toy maker, Mattel, also took a hit in today’s session. The company posted weaker-than-expected earnings as sales fell 10 percent in North America and international sales were flat. Sales of its Barbie and Fisher-Price preschool items slid 13 percent. Mattel did raise its dividend by more than five percent. Still, shares fell 12 percent to $37.84.
It was a totally different story at Tyson Foods. The country’s largest meat processor reported better-than-expected first quarter results, driven by higher chicken and beef sales. Tyson also reaffirmed sales and meat production forecast for 2014. It did warn that a virus will cut pork production by two to four percent. Shares rose anyway, up almost 8.5 percent to $37.40.
Shares of Chipotle were on fire in today’s session. In its earnings report out last night, the Mexican food chain said more customers ate at its restaurants, boosting sales. The company also told investors it’s considering upping prices later this year, which contributed to the stock gain. That’s because the move could increase future sales. The stock soared up almost 12 percent to $551.96.