Shares of
Exxon Mobil Corporation XOM have jumped 14% month to date (MTD) compared with the industry’s 8.5% growth. The Zacks Rank #1 (Strong Buy) stock has witnessed upward revisions in the Zacks Consensus Estimate for 2021 earnings in the past seven days.
What’s Favoring the Stock?
The price of West Texas Intermediate (WTI) crude has crossed the $48-per-barrel mark to reach its maximum level since Feb 26. With the approval of coronavirus vaccines across countries, analysts are expecting global fuel demand to witness significant recovery in 2021. This, in turn, is brightening the crude oil pricing scenario. The robust crude price rebound is a boon for ExxonMobil’s upstream operations. Also, recovery in fuel demand will aid the integrated energy giant’s downstream operations.
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The American multinational earns £1.18 per share (adjusted) in Q4.
Nordson forecasts a 2% to 3% growth in its first-quarter sales.
Nordson Corporation (NASDAQ: NDSN) reported its financial results for the fiscal fourth quarter on Tuesday that topped analysts’ estimates for earnings and revenue despite the ongoing Coronavirus pandemic that has so far infected more than 17 million people in the United States and caused over 300 thousand deaths.
Nordson shares were reported about 2.5% down in after-hours trading on Tuesday. At £146.35 per share, the stock that has been volatile this year is now 20% up year to date after recovering from a low of £73.88 per share in March, when the impact of the COVID-19 crisis was at its peak.
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