Most U.S. Stocks Drop on Lending Conern; Energy Shares, Exxon Mobil Fall

(Bloomberg) -- Most U.S. stocks declined, dragging
European shares lower, after a German bank's losses from
subprime mortgages spurred concern rising defaults will reduce
lending and end the boom in leveraged buyouts.

Financial shares fell to a 10-month low after Germany's
IKB Deutsche Industriebank AG said it scrapped an earnings
forecast because of ``massive uncertainty'' in the markets.
Exxon Mobil Corp., the world's largest energy producer,
retreated on a drop in oil prices from an almost one-year high.


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Stocks drop on housing, oil, credit jitters

(Reuters) - News of a disappointing quarterly profit from Exxon Mobil Corp. weighed on the energy sector and wiped out more than $16 billion in the company's market value as the stock slid more than 3 percent.




Financial shares were also among the biggest losers, with JPMorgan Chase & Co off more than 2 percent and Citigroup Inc down 2.3 percent.


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Most U.S. Stocks Decline, Led by Energy Producers; Verizon Shares Advance

(Bloomberg) -- Most U.S. stocks fell, led by
energy producers, after the price of natural gas dropped to a
six-month low.

Exxon Mobil Corp., ConocoPhillips and Chevron Corp. pushed
a gauge of energy producers in the Standard & Poor's 500 Index
down from an all-time high. The Dow Jones Industrial Average
climbed to a record for a third straight day after a report
said Verizon Communications Inc. may get a takeover bid.


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US STOCKS-Oil sector, financials lift stock indexes

(Reuters) - Shares of Exxon Mobil Corp. , up 0.3 percent at
$86.77, also benefited from Lehman Brothers' increase in the
stock price target. U.S. crude oil futures rose 4 cents
to $72.85 a barrel.




The S&P index of financial shares rose 0.4
percent, reversing Tuesday's drop of 2.2 percent, its worst
decline since mid-March.


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U.S. Stock-Index Futures Rise; Genentech, Yum!, Exxon Mobil Gain in Europe

(Bloomberg) -- U.S. stock-index futures advanced as
investors shrugged off concern about the housing market, and bet
that second-quarter earnings will beat analyst estimates.

Genentech Inc., the world's biggest maker of cancer
medicines, and Yum! Brands Inc. gained before reporting results.
Exxon Mobil Corp., the world's biggest oil company, climbed in
Europe after Bear, Stearns & Co. raised its earnings estimates
for the biggest oil companies.


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Exxon, OMV to Lead Exploration Efforts in New Zealand's Great South Basin

(Bloomberg) -- Exxon Mobil Corp., the world's
biggest oil company, and OMV AG, have been cleared to lead two
major exploration efforts off the southern coast of New Zealand.

Exxon is working with Todd Energy Ltd., the biggest New
Zealand-based oil company, Associate Energy Minister Harry
Duynhoven said today. OMV is leading a group including PTTEP
Exploration & Production Pcl and Mitsui & Co, he told journalists
at a press conference in Invercargill.


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US STOCKS-Indexes drop as subprime worries weigh

(Reuters) - NEW YORK, June 26 - U.S. stocks edged lower on
Tuesday as bond yields rose and possible fallout from the
subprime mortgage market kept investors on edge.




A 2 percent drop in oil prices dragged down shares of
energy companies, with Exxon Mobil Corp. down 0.9
percent at $81.62.


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Conoco, Exxon to Quit Venezuelan Oil Projects as Talks Fail, Person Says

(Bloomberg) -- ConocoPhillips and Exxon Mobil Corp.
will quit Venezuela, where they invested billions of dollars in
oil and natural gas projects, after talks about ownership failed,
said a person on the government's side of the negotiations.

ConocoPhillips will cede its interests in the Petrozuata
heavy-oil joint venture to state-run Petroleos de Venezuela SA,
and Exxon Mobil will give up its concession in the Ceiba oil
block in western Venezuela, Petroleos de Venezuela said in a
statement today. The release didn't disclose the status of the
companies' other interests in the country, which the person said
would be given up.


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US STOCKS-Indexes flat on rate worry; Texas Instruments falls

(Reuters) - NEW YORK, June 11 - U.S. stocks ended little
changed on Monday as rising oil prices boosted the energy
sector but lingering concern about higher interest rates kept
investors on the defensive.




Exxon Mobil Corp. helped lead the Standard &
Poor's 500 index higher as oil prices rose nearly 2
percent on news Saudi Arabia will keep OPEC supply limits in
place through July.


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U.S. Stocks Rise on Takeover Speculation; Exxon, H&R Block Lead Advance

(Bloomberg) -- U.S. stocks gained after a jump in
oil prices lifted energy producers and investors speculated
companies in the financial services and automotive industries
may be acquisition targets.

Exxon Mobil Corp., the largest oil producer, led the
Standard & Poor's 500 Index higher. H&R Block, the biggest tax
preparer, had its steepest gain in eight-months after UBS AG
said it may receive a leveraged buyout bid.


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Sinopec Ventures With Exxon Mobil and Aramco Win Fuel Wholesale Licenses

(Bloomberg) -- China Petroleum & Chemical Corp.,
Saudi Arabian Oil Co. and Exxon Mobil Corp. were authorized to
distribute wholesale fuel products in China produced at their $5
billion refining and chemical joint ventures.

The Ministry of Commerce awarded licenses to Fujian Refining
& Petrochemical Co. and Sinopec SenMei (Fujian) Petroleum Co.,
while Sinopec SenMei is also permitted to store fuel products, it
said in a statement on its Web site today.


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U.S. Stock-Index Futures Climb; Alltel Gains on Takeover; Exxon Advances

(Bloomberg) -- U.S. stock-index futures rose after
Goldman Sachs Group Inc. and TPG Inc. agreed to buy Alltel Corp.
for about $24.7 billion in the largest leveraged buyout of a
telecommunications company.

Alltel, the fifth-biggest U.S. wireless company, climbed
after the $71.50 a share offer. Exxon Mobil Corp., the world's
largest publicly traded energy company, and ConocoPhillips, the
third-biggest U.S. oil producer, advanced after the price of
crude rose above $65 a barrel.


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