SUPERNEWS - NYSE:CNC (Centene Corporation) Stock Price, News, Quote, History

SUPERNEWS

SUPERNEWS

Equities

Top Stories

Recovering $1.6M from "Pig Butchering Scam" - A Cautionary Tale of Financial Fraud

5/15, 08:39 EDT

ASML Unveils Advanced Chipmaking Machine Amid Rising Demand for AI Capabilities

ASML's $380 Million Machine Key to AI's Future, Intel's First Buyer

Shell's $3B Cost-Cutting Crusade Targets US Rivals

## Key Takeaway ```Shell is cutting jobs across divisions as CEO Wael Sawan aims to reduce costs by up to $3 billion by 2025, seeking to improve competitiveness with US rivals like Exxon and Chevron.``` ## Shell's CostCutting Measures - Shell Plc has initiated job cuts beyond previously announced reductions in its low-carbon division as CEO Wael Sawan aims to trim costs and enhance competitiveness with US rivals. - The company plans to reduce "structural costs" by up to $3 billion by the end of 2025, with a focus on portfolio high grading, new efficiencies, and a leaner overall organization. - Despite no formal targets for job cuts, Shell is continuously looking to right-size activities that deliver the most value. ## CEO's Commitment to Performance Improvement - CEO Wael Sawan pledged to be "ruthless" in improving Shell’s performance after taking over earlier this year. He is making efforts to close the stock’s valuation gap with US rivals Exxon Mobil Corp. and Chevron Corp. through asset sales and reducing low-return investments, including those in clean energy. - In October, 200 positions were cut in its Low Carbon Solutions unit, about 15% of the total. ## Industry-Wide Caution Amid Record Profits - Big Oil executives are cautious about the future despite record profits in 2022 due to worldwide disruptions triggered by Russia’s invasion of Ukraine. - Uncertainty over long-term fossil-fuel consumption and investor demands for dividends and stock buybacks are prompting Western oil explorers like Chevron and ExxonMobil to be more disciplined with spending. ## Market Comparison & Outlook - Despite employing about 93,000 globally at the end of 2022 (more than double that of Chevron), Shell lags behind US competitors like Exxon Mobil Corp. and Chevron Corp., which have higher market values. - The cost-cutting measures undertaken by Shell reflect a broader industry trend towards financial discipline amid uncertainty surrounding long-term fossil fuel consumption. ## STREET VIEWS - Shell Plc (Neutral): > "Achieving those reductions will require portfolio high grading, new efficiencies and a leaner overall organization. While no formal targets exist, we will continuously look to right-size the activities that deliver the most value."

Cost-Cutting Challenge Leads to Financial Freedom with Tesla Lease at $53

Trimming $358 in subscriptions and switching to electric saves enough for a Tesla lease, balancing costcutting with lifestyle.

Meta Platforms Inc. Soars 486% with Strategic Cost-Cutting and AI Focus

Meta's stock soars 486% with strategic focus on AI and efficiency, positioning to capture 50% of industry ad dollars.

Recovering $1.6M from "Pig Butchering Scam" - A Cautionary Tale of Financial Fraud

5/15, 08:39 EDT

ASML Unveils Advanced Chipmaking Machine Amid Rising Demand for AI Capabilities

Shell's $3B Cost-Cutting Crusade Targets US Rivals

CNC News

Snapchat’s Spiegel Shifts Focus to AI After 71% Stock Surge, Ad Revival

Microsoft to Relocate 700-800 AI Staff Amid U.S.-China Tech Spat

5/16, 04:53 EDT

Commercial Brokerages Cut Costs, Diversify Amid Market Downturn

5/15, 18:09 EDT

Recovering $1.6M from "Pig Butchering Scam" - A Cautionary Tale of Financial Fraud

5/15, 08:39 EDT

Google Staff Query Execs as $2T Firm Faces Morale Issues

Disney Streaming Turns Profit, Signals New Leadership Path

Tesla Stock Drops Nearly 6% After Significant Job Cuts in Supercharger Team

4/30, 19:13 EDT

Musk Cuts Tesla Execs, Over 500 Jobs Amid Sales Dip

4/30, 09:09 EDT

Pre-Market: Tech Shakeup and Sneaker Surge: Stocks on a Rollercoaster

4/26, 09:09 EDT

Google's Prabhakar Raghavan Emphasizes Shift to Faster, Localized Execution amid Slowing Growth

4/23, 08:53 EDT

Tesla's Demand Woes: Stock Down 37%, Eyes Turnaround

4/18, 01:17 EDT

Intraday: Fed's Steady Rates Hinted by Retail Surge, Metals Soar

4/15, 13:28 EDT

Intraday: Drug Trial Failures and Mining Wins Stir Market Waves

4/15, 10:40 EDT

Pre-Market: Futures Up 0.8%: Markets Bet on Iran-Israel Peace Talks

4/15, 09:04 EDT

Goldman's Picks Beat S&P by 3%: Visa, Workday, KKR Lead

4/11, 21:17 EDT

US Loses Chip Tech Lead to ASML, Intel Trails in EUV Race

4/11, 18:20 EDT

Amazon Hits Record $189.41, Leads Tech Rally with 20% Surge

4/11, 14:19 EDT

Amazon CEO Sees AI as Key, Invests $4B Amid Cuts

4/11, 09:36 EDT

Data Center Growth Spurt: UBS Eyes 20% Upside in 3 Stocks

Meta Platforms Inc. Soars 486% with Strategic Cost-Cutting and AI Focus

X Faces Ad Revenue Struggles and Valuation Decline Amidst Musk's Cost-Cutting

3/30, 19:32 EDT

Bond Giants Bet on Early Rate Cuts, Eye Shorter Maturities

3/24, 16:17 EDT

After-Market: FedEx Soars 12% on Earnings Beat, $5B Buyback Plan

3/21, 16:59 EDT

Options Trading Surges for Centene Ahead of Healthcare Conference

3/11, 11:16 EDT

The Rise of Vending Machines as a Passive Income Trend in the US

Machine Learning Stocks Outshine Nasdaq, Lead by Marvell

Cost-Cutting Challenge Leads to Financial Freedom with Tesla Lease at $53

Cutting-Edge Apple Vision Pro VR Headset Redefines Realism in Virtual Reality

2/26, 10:41 EST

Barclays Unveils Bold £2 Billion Cost-Cutting Strategy Amid Stock Surge

2/21, 00:33 EST

[TOP MOVERS] S&P 500 Breaks 5,000, Tech Stocks Shine Amid Market Volatility

Wall Street Views

Goldman Sachs

David Kostin, 4/11/24

Neutral on

“It’s the shared favorites that you should be owning as a portfolio manager, because statistically, they tend to outperform by about three percentage points in a year.”

Most Read

Ask

Finance

GPT

Beta

Most asked from this Article

summarize today's market

Should I invest in long-term bonds?