It's Thursday, July 26th.

Welcome to Market Foolery.

I'm Chris Ellen joining me in studio today from Motley Fool Asset Management, Tim

Hanson, Motley Full Inside Value, Joe Maker.

Gentlemen, good to see you.

Happy Thursday.

Hello.

We are going to wrap up Earnings Palusa with Sprint Whole Foods and Zinga,

but we will start with Big Oil.

A good day for the Dow as ExxonMobil's second quarter profit was up

49 percent but Joe folks probably shouldn't get too excited about that 49 percent

number. Yeah it's a little misleading.

There was a one-time bump a year ago.

You know what I'm really watching with Exxon isn't so much

the actual dollars and cents, it's production,

and that's down 6% year over year.

Exxon's big problem is coming up with new reserves to replace what they've already got.

Easier said than done when you're the size that they are.

Problem is they're going to have to do that through acquisition.

They've made a lot of those over the past few years, but it's going to be tough for them to keep

that up over the next several.

And I think that's going to be a continuous problem in the years of that.

...