• Home
  • Latest
  • Fortune 500
  • Finance
  • Tech
  • Leadership
  • Lifestyle
  • Rankings
  • Multimedia

Trendingnow

1

After forcing workers back to the office, Goldman Sachs and JPMorgan Chase are now letting their staff work remotely—but only for the World Cup

2

Markets tumble worldwide as Fed resets expectations: $400 billion wiped off SpaceX stock

3

Current price of oil as of June 23, 2026

1

After forcing workers back to the office, Goldman Sachs and JPMorgan Chase are now letting their staff work remotely—but only for the World Cup

2

Markets tumble worldwide as Fed resets expectations: $400 billion wiped off SpaceX stock

3

Current price of oil as of June 23, 2026
Retail5 things

BP Slumps and Chipotle Reports Earnings—5 Things to Know Today

By
Laura Lorenzetti
Laura Lorenzetti
and
Ian Mount
Ian Mount
Down Arrow Button Icon
By
Laura Lorenzetti
Laura Lorenzetti
and
Ian Mount
Ian Mount
Down Arrow Button Icon
February 2, 2016, 6:57 AM ET
A Chipotle Restaurant Ahead Of Earnings Data
A steak burrito is arranged for a photograph with a drink and bags of chips at a Chipotle Mexican Grill Inc. restaurant in Hollywood, California, U.S., on Tuesday, July 16, 2013. Photograph by Bloomberg via Getty Images
Add Fortune on Google for similar content.

Hello friends and Fortune readers.

Wall Street stock futures—especially energy stocks—are taking a hit this morning as crude oil prices slipped yet again on oversupply concerns and companies like oil giant BP reported disappointing earnings (see below). At 6:30 a.m. ET, crude oil was $30.66, down 3%. Market sentiment wasn’t helped by bad results at Swiss bank UBS, which slumped almost 8% after reporting a surprise outflow of funds from its flagship wealth management business.

Today’s must-read story is by Fortune’s Clifton Leaf on why the White House’s new cancer task force would do well to study the real moonshot. If the initiative is to succeed, it should study one very specific point from the U.S. mission to the moon: a well constructed road.

Here’s what else you need to know today.

1. BP takes a hit

The oil industry giant formerly known as British Petroleum (BP) got pummeled after reporting its biggest annual loss in over 20 years. Shares were down more than 8% in London today after it reported a 2015 loss of $6.5 billion, even worse than its 2010 results when it counted the costs of the Gulf of Mexico oil spill. The company said it would cut another 3,000 jobs in its downstream unit by the end of 2017 on top of 4,000 cuts already announced last year.

2. Chipotle reveals earnings in wake of E. coli cases.

Chipotle Mexican Grill (CMG) reports its fourth-quarter earnings after the market close today. The fast casual dining chain has weathered a tough few months after an E. coli outbreak sickened 55 people and separate norovirus and salmonella incidents sickened even more customers. The company has issued wide-reaching apologies and updated customers with the steps its taking to increase food safety. However, that likely wasn’t enough to stem falling sales. Chipotle warned in early January that its earnings would come in far below previous expectations.

3. Dow Chemical also reports.

Dow Chemical (DOW) reports its fourth-quarter earnings before the opening bell today. The industrial giant is expected to report earnings of 70 cets a share on sales of $11.2 billion, according to analyst estimates. The company’s report comes on the heels of its decision to merge with rival DuPont (DD) to form a company with a combined market value of about $95 billion. The two companies have been working to cut costs and streamline their businesses before that happens.

Other companies reporting earnings today includes Exxon Mobile (XOM), Pfizer (PFE), Yahoo! (YHOO), and UPS (UPS).

4. Brazil’s president addresses legislators.

Brazil President Dilma Rouseff will address the nation’s Congress today as it reconvenes following its holiday recess. The president’s message will try to boost confidence in the Brazilian economy, promising to slow the double-digit inflation and reduce the budget deficit. Rouseff will also be battling an impeachment proceeding, following accusations that she tweaked numbers to show a smaller budget deficit. Then, there’s also the Zika virus outbreak that the World Health Organization has labeled a global health emergency, which has swept through the nation and has been accompanied by increased numbers of babies with a rare birth defect.

5. U.S. auto sales.

Automakers report their January sales today, and analysts expect the numbers to be down slightly from a year earlier by about 1.1 million. The sales slow down, after a robust 2015, like was due to winter storms that swept across parts of the United States, hitting near record levels in some areas. One analyst estimated that it “disruted an estimated 15,000 sales,” reported Detroit News. Though, analysts are still optimistic 2016 sales will top 17 million again this year.

Reuters contributed to this report.

About the Authors
By Laura Lorenzetti
See full bioRight Arrow Button Icon
By Ian MountMadrid-based Editor
LinkedIn icon

Ian Mount is a Madrid-based editor at Fortune.

See full bioRight Arrow Button Icon
Add Fortune on Google for similar content.

Latest in Retail

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025

Most Popular

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Fortune Secondary Logo
Rankings
  • 100 Best Companies
  • Fortune 500
  • Global 500
  • Fortune 500 Europe
  • Most Powerful Women
  • World's Most Admired Companies
  • See All Rankings
  • Lists Calendar
Sections
  • Finance
  • Fortune Crypto
  • Features
  • Leadership
  • Health
  • Commentary
  • Success
  • Retail
  • Mpw
  • Tech
  • Lifestyle
  • CEO Initiative
  • Asia
  • Politics
  • Conferences
  • Europe
  • Newsletters
  • Personal Finance
  • Environment
  • Magazine
  • Education
Customer Support
  • Frequently Asked Questions
  • Customer Service Portal
  • Privacy Policy
  • Terms Of Use
  • Single Issues For Purchase
  • International Print
Commercial Services
  • Advertising
  • Fortune Brand Studio
  • Fortune Analytics
  • Fortune Conferences
  • Business Development
  • Group Subscriptions
About Us
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • Facebook icon
  • Twitter icon
  • LinkedIn icon
  • Instagram icon
  • Pinterest icon

Latest in Retail

Amazon Prime Day isn’t a midsummer shopping event anymore. Here’s what changed in 2026
RetailAmazon
Amazon Prime Day isn’t a midsummer shopping event anymore. Here’s what changed in 2026
By Vidhi Choudhary and Retail BrewJune 23, 2026
12 hours ago
Olympic rings at the Tesero Cross-Country Skiing Stadium ahead of the Milano Cortina 2026 Winter Olympics on February 03, 2026 in Tesero, Italy.
North AmericaSports
After the Knicks and World Cup, New York is ready for another challenge: the Olympics
By The Associated PressJune 23, 2026
13 hours ago
UPS workers process boxes in a sorting facility.
North AmericaUPS
UPS is shelling out nearly $50 million on temperature-controlled facilities to meet the booming demand for GLP-1 deliveries
By Sasha RogelbergJune 23, 2026
13 hours ago
work
Workplace Culturework culture
Worker engagement just hit a decade low — and new data from 88 million employees shows why managers are the problem
By Bob Batchelor and The ConversationJune 23, 2026
16 hours ago
Young woman shopper in store
SuccessPersonal Finance
As 93% of Americans lean on coupons to get by, Bed Bath & Beyond is splashing out $100K on a home renovation for their thriftiest shopper
By Emma BurleighJune 23, 2026
18 hours ago
wc
North AmericaWorld Cup
One World Cup, two worlds: Atlanta’s $3 pizza collides with Mexican beer that costs a day’s wages
By Tim Reynolds and The Associated PressJune 23, 2026
20 hours ago

Most Popular

After forcing workers back to the office, Goldman Sachs and JPMorgan Chase are now letting their staff work remotely—but only for the World Cup
Success
After forcing workers back to the office, Goldman Sachs and JPMorgan Chase are now letting their staff work remotely—but only for the World Cup
By Orianna Rosa RoyleJune 23, 2026
21 hours ago
Markets tumble worldwide as Fed resets expectations: $400 billion wiped off SpaceX stock
Banking
Markets tumble worldwide as Fed resets expectations: $400 billion wiped off SpaceX stock
By Jim EdwardsJune 23, 2026
23 hours ago
Current price of oil as of June 23, 2026
Personal Finance
Current price of oil as of June 23, 2026
By Joseph HostetlerJune 23, 2026
20 hours ago
Meet the 2 men putting New York's $300 billion pension fund in play for the first time in 20 years
Investing
Meet the 2 men putting New York's $300 billion pension fund in play for the first time in 20 years
By Nick LichtenbergJune 22, 2026
2 days ago
Former U.S. Secret Service agent says bringing your authentic self to work stifles teamwork: 'You don’t get high performers, you get sloppiness'
Success
Former U.S. Secret Service agent says bringing your authentic self to work stifles teamwork: 'You don’t get high performers, you get sloppiness'
By Sydney LakeJune 21, 2026
3 days ago
Texas and Charlotte used to build huge McMansions—now they're copying the California design tricks they once mocked
Real Estate
Texas and Charlotte used to build huge McMansions—now they're copying the California design tricks they once mocked
By Sydney LakeJune 22, 2026
2 days ago

© 2026 Fortune Media IP Limited. All Rights Reserved. Use of this site constitutes acceptance of our Terms of Use and Privacy Policy | CA Notice at Collection and Privacy Notice | Do Not Sell/Share My Personal Information
FORTUNE is a trademark of Fortune Media IP Limited, registered in the U.S. and other countries. FORTUNE may receive compensation for some links to products and services on this website. Offers may be subject to change without notice.