TheStreet’s Action Alerts PLUS Portfolio Manager Jim Cramer said despite the profit declines at Exxon XOM and Chevron CVX in the first quarter the companies are doing relatively well. Cramer said, ‘What’s important is that Exxon took out 33 percent of their capital expenditures and they have a fantastic chemicals division that people haven’t been thinking about. The upstream was not good, but the downstream was very, very good.
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