Exxon Mobil (XOM) lifts the Dow and the S&P 500 after raising profit forecasts. The price of oil remains weak under $60 a barrel, but Exxon is up 3% after raising its next five year forecast for profits thanks to strength in its Permian basin fields and new technology. Permian Basin is expected to double production to 2.5 million barrels per day. ,Exxon’s oil rigs off the coast of Guinea are also performing well.

Campbell Soup (CPB) lower following earnings. The stock is down 3% even as they beat estimates as sales fell 3.4% year/year to $2.68 billion. Management said they saw weak demand for snacks in the quarter and expect that to persist into the holiday and new year. The company also said they will acquire a 49% interest in La Regina, the maker of Rao’s pasta sauce. Last week Campbell Soup had to let go of a senior executive for disparaging remarks about customers and co-workers. Tough week.

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