Chevron Corporation CVX has asked its workers worldwide to remove Tencent Holdings Ltd's TCEHY WeChat app from their work phones.
The move came just after the U.S. President Donald Trump mandated this Chinese social messaging app to go unserved domestically. The US oil major Chevron is the first company to act in accordance with Trump’s executive order.
In a staff email, Chevron acknowledged WeChat as a "non-compliant application" and notified its employees that those using the app on their official handsets need to delete it prior to Sep 27 or else their access to the company's network will be disconnected.
WeChat is an all-in-one Chinese mobile application developed by Tencent that can be used for messaging, social media and mobile payment. The app was first released in 2011 and has more than a billion users globally.
Chevron is one of the largest publicly-traded oil and gas companies in the world with its presence in almost every part of the globe. A key component of the Dow Jones Industrial Average, this energy player is a fully-integrated company, participating in every energy-related process, ranging from oil production to refining and marketing.
Zacks Rank & Key Picks
Chevron currently carries a Zacks Rank #3 (Hold). Some better-ranked players in the same space are Murphy USA Inc. MUSA and SilverBow Resources Inc. SBOW, each presently sporting a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
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Chevron Corporation (CVX) : Free Stock Analysis Report
Tencent Holding Ltd. (TCEHY) : Free Stock Analysis Report
Murphy USA Inc. (MUSA) : Free Stock Analysis Report
SilverBow Resources Inc. (SBOW) : Free Stock Analysis Report
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