Exxon Mobil profit misses expectations; stock slides

Exxon Mobil Corp, the world's largest publicly traded oil producer, posted a lower-than-expected quarterly profit on Friday due to weak crude prices and refining income, reflecting the broad malaise in the energy sector. The earnings miss surprised Wall Street, and Exxon shares fell 2.5 percent to $87.96 in premarket trading. While Exxon slashed its capital budget by 38 percent during the quarter, to $5.16 billion, cost cuts were not enough to offset depressed oil prices, which have dragged down