This Dow Stock Is Getting Crushed

The Dow Jones Industrial Average (INDEX: ^DJI  ) was down 0.41% to 12682.44 today at 10:30 a.m. EST after GDP data was lower than investors expected. Leading the Dow down is Chevron (NYSE: CVX  ) , which has plunged 2.85% to $103.55 after it reported bad earnings. Adding to the bad news for Chevron is news of potential criminal charges against Chevron executives in Brazil, in addition to the $11 billion civil suit, both relating to the company's November oil spill.

Chevron missed lowered analyst expectations for both earnings per share and revenue. Chevron reported earnings per share of $2.58; analysts had been expecting $2.85. For revenue, the company reported $60 billion versus analyst expectations of $71 billion. Production increased to 2.64 million barrels per day from 2.60 million barrels per day last quarter.

Legal battles
Chevron is currently fighting two major legal battles. The first is in Ecuador, where the company is contesting an $18 billion judgment against it by the Ecuadorian courts. The second is an $11 billion civil lawsuit in Brazil after the 2,400-barrel spill in November. The latter is heating up today, as Reuters is reporting that Brazilian prosecutors are going to press criminal charges against Chevron's Brazil executives.

The best approach
Watching the broad market each day is exciting, gut-wrenching, and stressful, but investing doesn't have to be. If you're in the mood to pick up a great company to buy for the long term, The Motley Fool has created a brand-new free report: "The Motley Fool's Top Stock for 2012." It features a company hand-selected by the Fool's chief investment officer that has a strong future ahead of it. Get access to the report and find out the name of this legendary company. The report is free, but it won't be here forever, so check it out today.

Dan Dzombak can be found on his Facebook page. Click here and like his Facebook page to follow his investing articles. Motley Fool newsletter services have recommended buying shares of Chevron. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.


Read/Post Comments (0) | Recommend This Article (7)

Comments from our Foolish Readers

Help us keep this a respectfully Foolish area! This is a place for our readers to discuss, debate, and learn more about the Foolish investing topic you read about above. Help us keep it clean and safe. If you believe a comment is abusive or otherwise violates our Fool's Rules, please report it via the Report this Comment Report this Comment icon found on every comment.

Be the first one to comment on this article.

Sponsored Links

Leaked: Apple's Next Smart Device
(Warning, it may shock you)
The secret is out... experts are predicting 458 million of these types of devices will be sold per year. 1 hyper-growth company stands to rake in maximum profit - and it's NOT Apple. Show me Apple's new smart gizmo!

DocumentId: 1767244, ~/Articles/ArticleHandler.aspx, 9/23/2014 2:36:38 PM

Report This Comment

Use this area to report a comment that you believe is in violation of the community guidelines. Our team will review the entry and take any appropriate action.

Sending report...

Today's Market

updated Moments ago Sponsored by:
DOW 17,075.20 -97.48 -0.57%
S&P 500 1,984.01 -10.28 -0.52%
NASD 4,513.63 -14.06 -0.31%

Create My Watchlist

Go to My Watchlist

You don't seem to be following any stocks yet!

Better investing starts with a watchlist. Now you can create a personalized watchlist and get immediate access to the personalized information you need to make successful investing decisions.

Data delayed up to 5 minutes

Related Tickers

9/23/2014 2:21 PM
^DJI $17078.25 Down -94.43 -0.55%
DOW JONES INDUSTRI… CAPS Rating: No stars
CVX $123.06 Down -0.44 -0.35%
Chevron CAPS Rating: ****

Advertisement