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Tuesday, July 25, 2006

ExxonMobil Basks In BP's Numbers

Stock: (XOM)(BP)

Nothing could do more for the investors and managment at Exxon that BP's big numbers. Net income at the British oil behemoth rose to $7.27 billion and revenue was up 24% to $72.46 billion.

The Associated Press has estimated that the five largest oil companies in the world will earn a combined $30 billion in the second quarter. And, $75 per barrel oil and $3 gasoline sure help.

Exxon's stock is now at $65.36 just shy of its 52-week high and up 20% over the period. BP's stock trades at $70, between its high/low of $76.85/$63.26.

BP's results can't guarantee that Exxon will do as well. But, it's a pretty safe bet.

Douglas A. McIntyre can be reached at He does not own securities in companies that he writes about.

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