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Shell Down, Maersk Dips, Silex Microsystems Soars
Description
Today's biggest winners and losers in the stock market.
On this episode of Stock Movers:
- Shell said its profit surged in the first quarter as the Iran war drove oil and gas prices higher and the conflict caused a increase in volatility that boosted its big trading business. However, the oil major cut its quarterly share buyback to $3 billion from $3.5 billion.
- The CEO of Moller-Maersk said the oil shock caused by the Iran war will significantly raise costs this quarter and next, which the world’s No. 2 container carrier will seek to fully pass on to customers.
- Silex Microsystems surged in its first day of trading on Nasdaq Stockholm after an initial public offering that raised about 2 billion Swedish kronor ($220 million) for the specialist microchip-maker and its Chinese shareholder Sai MicroElectronics Inc.
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