Κέρδη (έστω πετρελαίου)

Shares of Exxon rose on the initial release of the earnings report, but have retreated due to what one fund manager believes is the acceptance of reality. “We had earnings that pretty well exceeded what Wall Street was thinking it was going to be, but the stock fell off because people are realizing that for the earnings, this is probably the high-water mark for a while,”

The stock, of late, was down 1.1%, but has recovered smartly from hitting a 52-week low of $56.51, reached October 10. The company’s earnings prowess can’t be denied, but about $4.4 billion of the earnings were a result of higher oil and gasoline prices; by the end of the quarter, crude oil’s price had fallen to $100.64 a barrel, still lofty by the standards of late October.

http://blogs.wsj.com/marketbeat/2008/10/30/exxons-cool-15-billion-trick/