Colossal fossil Exxon-Mobil is reporting a second straight quarterly loss and preparing to fire up to 10% of its white collar work force in the United States, as the impact of crashing oil demand makes itself felt by the company that has most steadfastly denied that a shifting global economy could have any impact on its business. And that includes some commodities, such as copper, that you’d normally expect to be in a deep funk right now. Oil prices are still low (albeit improving), natural gas is in the dumps and refining and chemical margins are weak.Politics are an increasing risk factor as well. Hold Off On Buying Exxon Mobil Stock Until After Earnings quotes delayed at least 15 minutes, all others at least 20 minutes. If we’re being honest, current conditions for Exxon Mobil stock remain dreadful. However, shares are up … After an initial upswing, U.S. air traffic appears to be We’ll know a lot more as analysts update their models following this earnings report. We need to see a much more robust economic recovery before energy demand is really going to normalize. Copyright © The rally stalled in … And with the stock up sharply from its 52-week lows, that sort of negative news would not be well-received.If you really want to put money to work immediately in the energy sector, you might consider choosing an oil and gas company such as Article printed from InvestorPlace Media, https://investorplace.com/2020/07/dont-buy-exxon-mobil-stock-until-after-earnings/.Financial Market Data powered by FinancialContent Services, Inc. All rights reserved. There are some encouraging signs, but also other more cautious notes. April 7, 2020 by Reuters.

Results included a positive noncash inventory valuation adjustment from rising commodity prices of $1.9 billion, or $0.44 per share assuming dilution. May 28, 2020, 8:59am CDT California-based Chevron Corp. (NYSE: CVX), which has a major presence in Houston, plans to cut thousands of jobs, according … Woods told Exxon Mobil's annual meeting that while no were layoffs planned, the company was reducing its number of contractors and is trying to become leaner. The company is looking at a rare quarterly operating loss when it reports earnings Friday, and may even cut its dividend in coming days. On the whole, though, consensus is negative coming into this report, and with good reason. All rights reserved. Several midstream oil and gas transportation projects have run into Meanwhile, Exxon is likely to report a loss this quarter — an exceedingly rare event for the company. It was definitely a layoff.”With the disguised layoff, interpretation of the document showed that the company, instead of paying off those affected, would now mean there would not be severance package for the former staff.This is because when a company layoff staff because their position has been eliminated, the company is likely to offer severance pay if they can afford it.However, in the case of Exxon when the review automatically forced some of the workers to resign for underperforming, it automatically takes off the duty of severance package off its neck.Almost all oil majors had taken different tough actions amidst the ongoing Coronavirus pandemic which had resulted oil price collapse.Shell avoids loss with strong trading, wipes $17 billion off assets - Eni cuts dividend after net loss in industry's 'worst-ever' quarter - ExxonMobil announces finalists for second annual power play awards Exxon Mobil stock posted strong gains during the mid-decade bull market, underpinned by rapid industrialization in China and other BRIC nations. ExxonMobil announces finalists for second annual power play awards An Exxon representative told Forbes, “we do not have any plans for layoffs at this time, and we do not have a target to reduce headcount through our talent management process,” adding, “employees who need significant improvement are given a plan and opportunities to improve their performance.” Exxon Mobil continues to be a 2021 story. All rights reserved. This will force the company to add to its mounting debtload.

ExxonMobil’s approximately $10 billion reduction in capital spending translates into a revised 2020 capex investment plan totaling $23 billion, the firm revealed in a written statement.

If you are focused on a multi-year time horizon, there’s nothing wrong with Exxon Mobil here.That said, for traders, there’s little incentive to take on or add to positions right now.