Alphabet, Intel, Exxon Mobil: stocks that defined the week

General engines Co.

GM -3.03%

General Motors enters the race to produce electric delivery vehicles. The Detroit-based automaker said Tuesday it will begin manufacturing electric delivery trucks and motorized trolleys as part of a division that aims to capitalize on the now-expanding market for e-commerce and home delivery. The company, called BrightDrop, plans to launch an electric truck designed specifically for commercial purposes later this year. That truck will compete against Ford Motor Co.

recently introduced the electric delivery van. GM said FedEx has agreed to buy 500 new electric trucks for delivery later this year. Shares of General Motors rose 6.2% on Tuesday.

Albertsons ACI -0.97%

Cos.

Albertsons is accumulating more sales than some rivals, as food buyers stock up during the pandemic. The supermarket operator reported a higher increase in sales in the last quarter than Kroger Co.

and Walmart Inc.

In 2020, food sellers recorded strong sales to consumers who spent most of the year cooking at home. Albertsons chief executive told analysts on Tuesday that shoppers buy much less food, but buy larger quantities of food when they do so. Albertsons is also expanding its product range such as meal kits and store brands for people who cook at home. Albertsons shares added 2.1% on Tuesday.

Intel Body.

INTC -2.82%

Intel looked outside when it changed leaders. The semiconductor giant fired CEO Bob Swan on Wednesday and named his successor, Pat Gelsinger, head of VMware. The surprise move came after activist hedge fund Third Point LLC called for radical changes late last year, during which the company suffered several product delays and lost its status as the most popular chip maker in the United States. Mr Swan will resign in February, the company said. His successor, Mr. Gelsinger, was once the head of Intel technology. He has served as CEO of business software provider VMware since 2012. Shares of Intel rose 7 percent on Wednesday.

Delta Airlines Inc.

FROM -3.59%

The Delta hides for a long, dark winter. The airline’s losses in 2020 amounted to nearly $ 12.4 billion, the company reported on Thursday, becoming the worst year in the Delta and marking the first annual loss since 2009. The months after the December holidays are usually the weakest. for airlines that have been beaten as coronaviruses. the pandemic is prolonging. However, the company expects air travel demand to turn the corner this year with the launch of Covid-19 vaccines. Executives said searches on the Delta site are on the rise and people are saving frequent miles to make big trips in the future. Delta Air Lines rose 2.5 percent on Thursday.

JPMorgan Chase JPM -1.79%

& Co.

The economic recovery has withstood the US banks better than expected. JPMorgan, Citigroup Inc.

and Wells Fargo & Co. they reported better-than-expected earnings from their backup versions and Wall Street operations. JPMorgan posted its highest quarterly profit on Friday, after releasing $ 2.9 billion in funds it set aside to cover sour loans during the pandemic. Banks have solved the coronavirus economy so well, in part because of their focus on wealthy consumers and large companies over the past decade. However, CEO Jamie Dimon said JPMorgan remains positioned for “significant short-term economic uncertainty”. Shares of the bank fell overall, along with general markets, and JPMorgan shares lost 1.8% on Friday.

Exxon Mobil Body.

XOM -4.81%

Exxon is being investigated by US authorities after a whistleblower said it overestimated one of its most important oil and gas properties. The Wall Street Journal reported Friday that the Securities and Exchange Commission has launched an investigation into the energy giant struggling after an employee filed a whistleblower complaint last fall. The complaint alleges that lower-level employees were pressured to use unrealistic drilling assumptions in valuing a key asset in the Permian Basin. Exxon went through one of the worst financial performances of 2020, losing billions of dollars after an unprecedented drop in fossil fuel demand during the pandemic. Exxon shares fell 4.8% on Friday.

Write to Francesca Fontana [email protected]