XOM surpasses GE

Last Friday Exxon Mobil became the United States largest corporation in terms of market capital, G.E. held the title since early 2000. Due to rising oil prices investors showed confidence in the energy company, and drove the stock up $1.28 to almost 60 dollars a share. On the other hand G.E. went down fifteen cents, and that is all it took for the top spot to change hands. Exxon Mobil's total market worth is 383 billion dollars, while General Electrics is $379 billion. XOM is up 43% from one year ago and pulled in 288 billion in gross revenue. The last time Exxon held this top spot was in 1993 when it was worth only $89 billion. There is reason to believe that the oil giant will retain the top spot for some time with oil closing up $0.22 to $51.39 a barrel. http://story.news.yahoo.com/news?tmpl=story&cid=509&e=10&u=/ap/exxon_mobil_biggest_company