Phillips 66 Expects Modest Decline and 3 Hot Stocks to Follow
Exxon Mobil Corporation (NYSE:XOM), which is the largest domestic oil company, has seen its shares gain 2.5 percent this year.
JPMorgan Chase & Co.’s (NYSE:JPM) “London whale” losses seem to be to blame for sidetracking the big-bank campaign this year against the Dodd-Frank financial overhaul, according to observers of policy debates in Washington, lawmakers, and regulators as told to the Wall Street Journal. At the beginning of 2012, Wall Street banks were confident that they could hold off a wave of rules that they worried would impact profits, but now, they end the year pretty much resigned to the fact that their activities will be restricted and watched more closely by the government.
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Chevron Corporation’s (NYSE:CVX) Chief Executive John Watson on Thursday told The Associated Press that it’s not his call as to whether leaders elect to expand the use of fossil fuels rather than working to shrink greenhouse gas emissions, commenting that “The greatest advancements in living standards in recorded history have taken place in the modern hydrocarbon era. I don’t think that’s coincidental. Our leaders have to make a decision. Do they want that to continue or do they have a better solution for us?”
Phillips 66 (NYSE:PSX) Chairman and Chief Executive Greg Garland predicted a more modest decline in refining profitability next year than does Deutsche Bank. Shares have soared by 52 percent since the company was spun off from ConocoPhillips in May.