Exxon Seeks Way Out of Oil Project and 2 Stocks that Have Hit 52-Week Highs
Usg Corp. (NYSE:USG) claims that it will attempt to find ways to allocate cash generated over next few years towards debt reduction, investing in the business. The company also claims that its intention is to move towards investment-grade metrics for its balance sheet. The shares closed at $24.67, up $1.94 or 8.53% on the day. They have traded in a 52-week range of $7.65 to $24.23.
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Marriot Vacations (NYSE:VAC) believes that North America contract sales have grown to 12 to 14 percent. Furthermore, the company cut its gross contract sales growth to 2 to 4 percent from 4 to 8 percent. The shares closed at $39.56, down $0.66 or 1.64% on the day. They have traded in a 52-week range of $15.75 to $40.33.
Exxon Mobil Corp. (NYSE:XOM) is probably seeking a way out of its Iraqi oil project due to concerns regarding profit margins on the West-Qurna-1 project, which is a $50 billion endeavor in southern Iraq, Reuters reports. Exxon Mobil, which signed on for the project with minority partner Royal Dutch Shell (RDS.A) in 2010, also signed an agreement in Iraq’s northern Kurdish region last year, which the central government decided was illegal. The shares closed at $93.48, up $0.09 or 0.1% on the day. They have traded in a 52-week range of $73.90 to $93.54.