Calpers materially raised stakes in theater chain AMC, chip maker AMD, and Square parent Block in the first quarter. The pension slashed a third of its Netflix stake. Read More...
Reuters
Saudi Aramco net profit soars 82% in Q1 on high oil prices
DUBAI (Reuters) -State-owned oil producer Saudi Aramco on Sunday reported an almost 82% rise in first-quarter net profit, broadly in line with analyst forecasts, helped by strong oil prices. Aramco, which is at par with Apple Inc as the world’s most valuable company, reported a net income of $39.5 billion for the quarter to March 31 from $21.7 billion a year earlier. Aramco, which listed in 2019 with the sale of a 1.7% stake mainly to the Saudi public and regional institutions, said its earnings were the highest in any quarter since it went public, boosted by crude prices, volumes sold and improved downstream margins.
