ExxonMobil Challenges Montana Oil Spill Penalty and 2 Other Dow Movers to Watch
Exxon Mobil Corp. (NYSE:XOM): Current price $93.53
Representatives from Exxon Mobil were scheduled to appear before federal regulators in Denver on Wednesday, to challenge $1.7 million in penalties for a Montana oil spill. The civil penalties announced in March originate from a pipeline break two years ago, that spilled some 63,000 gallons of oil into the Yellowstone River close to Laurel. Federal regulators claimed that Exxon did not take steps to guard against erosion caused by flooding.
American Express Co. (NYSE:AXP): Current price $76.29
Earlier on Wednesday, American Express shares tumbled, after Morgan Stanley and Credit Suisse Group analysts predicted a European Union proposal would reduce the company’s profits. Shares fell by 3.6 percent to $75.46 at 10:18 a.m. in New York, marking the biggest intraday slide since last July. In early afternoon trade, they are down just under 2 percent. The European Commission will propose that interchange fees paid by retailers on card transactions should be capped at 0.2 percent for debit card payments, and at 0.3 percent for credit cards, say draft plans obtained by Bloomberg.
Caterpillar Inc. (NYSE:CAT): Current price $86.49
The ex-dividend date for the Dow component Caterpillar is Thursday, July 18. Owners of shares as of market close on Wednesday will be eligible for a dividend, consisting of 60 cents per share. Based on a price of $88.38 as of 10:36 a.m. Eastern Time, the dividend yield stands at 2.7 percent, versus the average Dow component yield of 2.6 percent, according to The Street.
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