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Exxon Mobil (XOM) is sitting on mounds of cash but will probably use the funds to buy stakes in...

Exxon Mobil (XOM) is sitting on mounds of cash but will probably use the funds to buy stakes in offshore fields from state oil companies rather than trying to buy up major rivals. Investors hope tomorrow's annual meeting will shed some light on Exxon's plans.
Comments (2)
  • herbert hoover
    , contributor
    Comments (2005) | Send Message
     
    I'm sure that they'll use some of that cash hoard to buy a few more Congresspeople.
    4 Mar 2009, 03:45 PM Reply Like
  • FXedu
    , contributor
    Comments (157) | Send Message
     
    They are buying at a great time when oil is still down but stable. China may use reserves to buy oil. If so, they'll enrich XOM too. Good move, XOM. Over time, it will be good for their stock.
    4 Mar 2009, 07:40 PM Reply Like
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