Exxon Mobil Corp
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Energy : Oil, Gas & Consumable Fuels | Large Cap Value
Company profile

Exxon Mobil Corporation is engaged in energy business. The Company is engaged in the exploration, production, transportation and sale of crude oil and natural gas, and the manufacture, transportation and sale of petroleum products. The Company also manufactures and markets commodity petrochemicals, including olefins, aromatics, polyethylene and polypropylene plastics, and a range of specialty products. The Company's segments include Upstream, Downstream, Chemical, and Corporate and Financing. The Upstream segment operates to explore for and produce crude oil and natural gas. The Downstream operates to manufacture and sell petroleum products. The Chemical segment operates to manufacture and sell petrochemicals. The Company has exploration and development activities in projects located in the United States, Canada/South America, Europe, Africa, Asia and Australia/Oceania.

Postmarket

Last Trade
Delayed
$34.42
0.14 (0.41%)
Bid
--
Ask
--
B/A Size
--

Market Hours

Closing Price
$34.28
Day's Change
-1.03 (-2.92%)
Bid
--
Ask
--
B/A Size
--
Day's High
35.11
Day's Low
33.99
Volume
(Light)
Volume:
20,764,405

10-day average volume:
29,377,504
20,764,405

Philip Morris gets FDA approval to market its 'tobacco heating system' as a healthier alternative to smoking

2:57 pm ET July 7, 2020 (MarketWatch)
Print

The Food and Drug Administration (FDA) announced Tuesday that it has authorized Philip Morris International Inc. (PM) to market its IQOS tobacco heating system (THS) as a "modified risk" product. This designation allows the company to promote these items "as containing a reduced level of or presenting a reduced exposure to a substance or as being free of a substance when the issuance of the order is expected to benefit the health of the population," according to the FDA statement. Philip Morris describes these products as heating rather than burning tobacco, which a cigarette does. Burning tobacco, which reaches 600 degrees Celsius, "contains high levels of harmful chemicals," according to the company's website. The THS product heats tobacco to 350 degrees Celsius. "However, THS is not risk-free and delivers nicotine which is addictive," the site says. Philip Morris has turned its focus to the IQOS product, with Philip Morris' Chief Operating Officer Jacek Olczak saying at the Deutsche Bank dbAccess Global Consumer Conference last month that the company is committed to "working towards realizing [the] potential of this opportunity," according to a FactSet transcript. Philip Morris stock is down 14.4% for the year to date while the S&P 500 index has fallen 2.1% for the period.

-Tonya Garcia; 415-439-6400; AskNewswires@dowjones.com

(END) Dow Jones Newswires

July 07, 2020 14:57 ET (18:57 GMT)

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