Why ExxonMobil Stock Jumped Today

Why ExxonMobil Stock Jumped Today

Shares of ExxonMobil (NYSE: XOM) rose 5.1% on Thursday after the energy giant reaffirmed its long-term commitment to fossil fuel production, albeit with a more streamlined cost structure. CEO Darren Woods told Exxon's employees to expect layoffs, as low oil prices continue to plague the industry. "These are difficult times," Woods said.