Occidental Petroleum Corp on Monday missed earnings estimates in its first results after closing its $38 billion purchase of rival Anadarko Petroleum, and said it would slash spending on big projects by 40% next year. Occidental, which is battling pressure from activist investor Carl Icahn to accelerate asset sales to pay off debt, reported a third-quarter net loss of $912 million after a year-ago profit of $1.87 billion. The company is expected to hold a briefing on Tuesday to discuss its results. …read more
Source:: Yahoo Finance
