U = ULV = ultra low voltage dual core CPU. One of Intel's official requirements in order for a laptop to be called an "ultrabook" is that it must use a "U" or "Y" model CPU.
Y = Extremely low voltage. Lower than ULV and less performance.
M = "Standard mobile" dual core CPU. Uses more power than u model CPUs, but also have higher clock speed.
H = A dual core CPU, but consumes as much power as a quad core CPU. But the CPU itself is less expensive than "M" model CPUs.
MQ = "Mainstream Performance Quad Core" CPU
HQ = "High Performance Quad Core" CPU, basically the same as MQ, but with slightly higher clockspeed and better performing integrated graphics. Also more expensive.
MX = Extreme Performance Quad Core CPU. These CPUs can be...