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Energy stocks are under stiff pressure this morning. Their collective slide of 0.9% comes amid a negative response to the latest report from Exxon Mobil (XOM 87.05, -0.73), which actually featured a better-than-expected bottom line. Fellow integrated play ConocoPhillips (COP 77.81, -2.02) has extended its prior session slide following its downgrade by analysts at Deutsche Bank.
In contrast, telecom is outperforming for the second straight session. The sector is up 0.6%. Sprint Nextel (S 4.93, +0.14) is a top performer in its space following its latest quarterly report, which featured stronger-than-expected results on both the top and bottom line.
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