Super Hot Stocks as Dow Breaks 12,000: Exxon Profit Climbs 41%, P&G Edges Lower, and Bank Stocks are Booming

The Cheat Sheet

Exxon Mobil is up 1.3% in early trading after the company reported strong earnings for the third quarter.  Profits climbed 41% to $10.33 billion ($2.13 per share), compared to $7.35 billion ($1.44 per share) last year.   Chevron Corp. and ConocoPhillips are also trading higher by 2%.

Investing Insights: Exxon Mobil Corp Earnings Cheat Sheet: Profits Climb By Double Figures Again.

Procter & Gamble is edging lower in pre-market trading.  The consumer products giant reported a 1.9% decrease in net income.  Net income fell from $3.08 billion to $3.02 billion in the latest quarter.  High commodity costs damaged profit margins and slowed growth.  Competitor Kimberly-Clark is up more than 1.6%.

Investing Insights: Procter & Gamble Co. Earnings Cheat Sheet: Snaps Strong Streak with Profit Drop.

Now that an actual Eurozone plan has emerged, financial stocks are seeing a surge.   Bank of America and Citigroup jumped more than 7% in before the opening bell.   Morgan Stanley , who many thought had the greatest exposure to the Eurozone debt crisis, surged more than 8%.   Goldman Sachs increased more than 3%, while JP Morgan popped nearly 8%.  Warren Buffett favorite Wells Fargo popped 5%.

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