WTF? Exxon stock falls because their profits up 17%

[ashling]

Exxon Sees $10.9B Profits but No Record
Exxon Mobil's Earnings Were Boosted by High Oil Prices but Fell Short of Expectations
By JOHN PORRETTO
AP Business Writer
May 1, 2008


HOUSTON (AP) -- Exxon Mobil Corp., the world's largest publicly traded oil company, said Thursday record crude prices helped its net income grow 17 percent in the first quarter, but the results came in below Wall Street forecasts.
Exxon
(AP Photo)
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Its shares fell $2.32, or 2.5 percent, to $90.75 in premarket trading.

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[Crabby Appleton]

1. Their Earnings per share (EPS) is not really that great

The raw numbers for profit are large, but divided by the number of shares, it's only an average performing stock.

[sharesunited]

2. Two reasons for the decline.

They failed to meet the earnings expectations of Wall Street analysts, and the price of oil has dropped in the past few days.

[Angleae]

3. Yet GM stock rises because their losses are less then expected

http://www.forbes.com/feeds/ap/2008/04/30/ap4951634.html

the stock market is nuts

[spanone]

4. they expected more, so they came in under projections...breaks your heart doesn't it?