Following strong earnings, Chevron shares rise; Tesla edges higher ahead of the first deliveries of its new Model 3 sedan.
Bay Area stocks ended the week on a mixed note Friday, with Chevron performing well following its latest earnings report, and Tesla posting a small gain ahead of its most-anticipated new car launch.
Chevron shares rose 2 percent, to close at $108.12 after the oil and gas producing giant reported a second-quarter profit of $1.45 billion, due in part to cost-cutting efforts and increases in production levels. Chevron’s results turned around from a loss of $1.47 billion in the same quarter a year ago.
Tesla shares edged up by 0.2 percent to $335.07 as the electric car maker prepared to roll out the first of its Model 3 sedans. Priced starting at $35,000, the Model 3 is seen as Tesla’s first reasonably priced automobile.
Intel, Square and Facebook each saw their shares rise 1 percent on the day.
Decliners included data-storage equipment maker NetApp, which slipped 1.2 percent to $43.49; Pandora, down by 2 percent to finish the day at $9.47; and Advanced Micro Devices, which gave up 1.2 percent to close at $13.95 a share.
The tech-focused Nasdaq Composite Index slipped by 0.1 percent to end the week at 6,374.68, while the blue chip Dow Jones Industrial Average rose 0.2 percent to 21,830.31 and the broad-based Standard & Poor’s 500 Index edged down by 0.1 percent to 2,472.1.
