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Wall Street slides with Exxon, oil; Chipotle dips after close
February 2, 2016 7:25 AM ESTBy Caroline Valetkevitch
(Reuters) - U.S. stocks dropped on Tuesday after another steep fall in oil prices and a disappointing spending forecast from Exxon Mobil.
Shares of Exxon (NYSE: XOM) fell 2.2 percent to $74.59 after the oil major reported its smallest quarterly profit in more than a decade, forecast a 25-percent drop in capital spending from 2015 levels and suspended share repurchases.
With Exxon, "not only did the earnings disappoint people, but the fact that they slashed capex so much and they (suspended) their share repurchase program. It's a... More
