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Exxon needs to become its own activist, says Bloomberg's Denning [Seeking Alpha]

GENERAL ELECTRIC (GE)  More Company Research Source: Seeking Alpha
Last general electric earnings: 4/23 04:01 pm Check Earnings Report
US:NYSE Investor Relations: ge.com/investor-relations/overview
PDF Exxon needs to become its own activist, says Bloomberg's DenningExxon Mobil (NYSE:XOM) finished 0.8% higher in today's trade, but it was just a small slice of the stock's 15% plunge through last Friday since issuing itsQ4 earnings report on Feb. 2.XOM's hubris is no longer justified and leaves it increasingly vulnerable, Bloomberg's Liam Denning writes, noting that "you only have to look at the recent example of General Electric to realize how a combination of enormous scale, century-old incumbency and an iconic brand can breed overconfidence that ultimately proves destructive."Denning thinks XOM should look at its rivals across the Atlantic for ways to use its giant resource base to improve shareholder value: Shell has taken radical steps since its acquisition of BG Group in 2016 including divesting its Canadian oil sands business, and BP has raised tens of billions of dollars to meet the cost of the 2010 oil spill disaster by selling off swathes of its asset portfolioXOM's "mammoth [Read more]

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