News & Events:PSX

Marathon Petroleum (MPC) smashed quarterly profit estimates on Tuesday, the latest U.S. refiner to benefit from a surge in fuel prices due to strong demand and tight supplies.

* Apple (AAPL) sees continued strength in demand for iPhone. * Amazon (AMZN) expects higher revenue in third quarter. * Intel (INTC) cuts annual forecasts, shares slide. * Consumer spending beats expectations in June. * Oil giants Exxon, Chevron (CVX) jump after record revenue. * Indexes up: S&P 0.68%, Nasdaq 1.05%, Dow 0.09% By Aniruddha Ghosh and Shreyashi Sanyal.

* Apple (AAPL) sees continued strength in demand for iPhone. * Amazon (AMZN) expects higher revenue in third quarter. * Intel (INTC) cuts annual forecasts, shares slide. * Consumer spending beats expectations in June. * Futures: Nasdaq 0.68, Dow flat, S&P 0.42% By Aniruddha Ghosh and Shreyashi Sanyal.

  Phillips 66 reported its Q2 earnings results on Friday, July 29, 2022 at 07:00 AM. Here's what investors need to know about the announcement. Phillips 66 beat estimated earnings by 17.13%, reporting an EPS of $6.77 versus an estimate of $5.78. Revenue was up $21.42 billion from the same period last year.

Phillips 66: * REPORTS SECOND-QUARTER 2022 FINANCIAL RESULTS. * Q2 ADJUSTED EARNINGS PER SHARE $6.77. * Q2 EARNINGS PER SHARE $6.53. * QTRLY MIDSTREAM Q2 PRE-TAX INCOME OF $292 MILLION VERSUS $242 MILLION IN Q1. * QTRLY CHEMICALS PRE-TAX INCOME OF $273 MILLION MILLION VERSUS $396 MILLION IN Q1. * QTRLY REFINING PRE-TAX INCOME OF $3,036 MILLION VERSUS $123 MILLION IN Q1.

Phillips 66 reported a jump in second-quarter profit on Friday, as the U.S. refiner got a boost from surging demand for fuel and refined products amid tight supplies. The Houston, Texas-based company said earnings stood at $3.2 billion, or $6.53 per share, for the quarter ended June 30, compared with $296 million, or 66 cents per share, a year earlier.

HOUSTON---- Phillips 66, a diversified energy company, announces second-quarter 2022 earnings of $3.2 billion, compared with earnings of $582 million in the first quarter of 2022. “Our earnings reflect the strong market environment during the second quarter driven by a tight global product supply and demand balance,” said Mark Lashier, President and CEO of Phillips 66.

  ** Capital Product Partners is expected to report quarterly earnings at $1.13 per share on revenue of $72.73 million. ** Carter's is likely to report earnings for its second quarter. ** ImmunoPrecise Antibodies is projected to report earnings for its fourth quarter. ** First Hawaiian is projected to report quarterly earnings at $0.45 per share on revenue of $189.08 million.

Phillips 66 is set to give its latest quarterly earnings report on Friday, 2022-07-29. Analysts estimate that Phillips 66 will report an earnings per share of $5.78. Phillips 66 bulls will hope to hear the company to announce they've not only beaten that estimate, but also to provide positive guidance, or forecasted growth, for the next quarter.

Chevron Phillips used the safety flare system at its Cedar Bayou chemical plant in Baytown, Texas, following a power outage, a company spokesperson said. Thick black smoke was seen throughout the morning at the plant, located on the east side of the Houston metro area, according to a Reuters witness. The smoke had started to dissipate by around noon local time, the witness said.

Heavy flaring was seen on Tuesday at Chevron Phillips' Baytown, Texas, chemical plant, according to a Reuters witness, indicating a potential upset at the facility. Chevron Phillips did not immediately respond to a request for comment.

U.S. oil refiners are expected to post gangbuster second-quarter earnings as robust worldwide fuel demand and perilously low inventories charged up margins, but weaker demand in July and recession worries clouded the outlook for future results.

JET H2 Energy combines companies’ retail and hydrogen expertise to form a leading player in hydrogen mobility Phillips 66 and H2 Energy Europe today announced they have closed on a 50-50 joint venture to set up and operate a network of hydrogen refueling retail sites in Germany, Austria and Denmark.

U.S. refiners last quarter imported West African oil at the highest rate in nearly three years, customs data showed, buying the gasoline-friendly crudes as they boosted motor fuel production to meet summer driving demand.

Phillips 66: * PHILLIPS 66 APPOINTS TWO NEW DIRECTORS. * PHILLIPS 66- BOARD OF PHILLIPS 66 WILL CONSIST OF 13 DIRECTORS, 11 OF WHOM ARE INDEPENDENT. * PHILLIPS 66 - APPOINTED MARK E. LASHIER AND GREGORY J. HAYES TO SERVE ON BOARD, EFFECTIVE JULY 12, 2022 Source text for Eikon: Further company coverage:

Phillips 66: * PHILLIPS 66- DECLARED A QUARTERLY DIVIDEND OF 97 CENTS PER SHARE ON PHILLIPS 66 COMMON STOCK Source text for Eikon: Further company coverage:

The board of directors of Phillips 66 has appointed Mark E. Lashier and Gregory J. Hayes to serve on the board, effective July 12, 2022. Lashier, who will serve on the Executive Committee of the board, was recently named as the Chief Executive Officer of Phillips 66 after serving as President and Chief Operating Officer since April 2021.

The board of directors of Phillips 66 has declared a quarterly dividend of 97 cents per share on Phillips 66 common stock. About Phillips 66 Phillips 66 manufactures, transports and markets products that drive the global economy. View source version on businesswire.com: https://www.businesswire.com/news/home/20220712005982/en/ Source: Phillips 66.

Someone with a lot of money to spend has taken a bearish stance on Phillips 66. And retail traders should know. We noticed this today when the big position showed up on publicly available options history that we track here at Benzinga. Whether this is an institution or just a wealthy individual, we don't know. So how do we know what this whale just did?

A whale with a lot of money to spend has taken a noticeably bearish stance on Phillips 66. Looking at options history for Phillips 66 we detected 24 strange trades. If we consider the specifics of each trade, it is accurate to state that 45% of the investors opened trades with bullish expectations and 54% with bearish.