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so, obviously, conoco is the sea in guy's clam. >> it was conoco and chevron. >> it is conoco. i did think it was chevron. >> let's focus on your clam. >> no, no, no. >> chevron. >> chevron, yeah. i like to focus on your clam. >> thank you. you should. here is the -- this is the way i look at this. first of all, a dramatic move to 98. unfortunately, it stalled. number two, and broader, this again just speaks to the underlying strength of the industry and the sector and the fact that these are well run companies. balance sheets and stock performance that do deals like this, this sector is in play. if there was ever a rotation out of technology, which will happen, the money will find its way into energy, you stay with the trade, i think. >> mizuho asks an interesting question. does it make conoco better or just bigger? but maybe at this point in the cycle these giants just need to be bigger. they need to keep up with production. they want to by assets that are proven. >> there is a race by drillers to buy more oil and gas wells. $150 billion of deals done by their competitors. co
so, obviously, conoco is the sea in guy's clam. >> it was conoco and chevron. >> it is conoco. i did think it was chevron. >> let's focus on your clam. >> no, no, no. >> chevron. >> chevron, yeah. i like to focus on your clam. >> thank you. you should. here is the -- this is the way i look at this. first of all, a dramatic move to 98. unfortunately, it stalled. number two, and broader, this again just speaks to the underlying strength of the industry...
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this is about -- marathon is about 10% of conoco. pickering energy partners says it is more on a bolt of transaction rather than truly transformative deal. but there are several ways in which it resembles the deals we've been seeing. it is accretive, additive and also it is an all stock deal so it doesn't need to leverage and stretch the balance sheet for conoco. but there is one key difference. there is a multiphase-in deal. most marathon and conoco have operations in three areas that will increase their combined footprint. that is different than the other deals we've seen that was solely focused on thepermian basin. and so that might help the case in the sense that there are two different basins rather than one big in one basin. >> and the hess deal you were talking about yesterday was basically an acquisition of existing assets. what they want to avoid is new drilling in new areas. right? because they want to buy what is already there are they already know there is stuff in the ground they can pull out. >> exactly. and these are m
this is about -- marathon is about 10% of conoco. pickering energy partners says it is more on a bolt of transaction rather than truly transformative deal. but there are several ways in which it resembles the deals we've been seeing. it is accretive, additive and also it is an all stock deal so it doesn't need to leverage and stretch the balance sheet for conoco. but there is one key difference. there is a multiphase-in deal. most marathon and conoco have operations in three areas that will...
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there was speculation that conoco would have been a takeover target itself. now it's striking this $22.5 billion deal, which is going to make it a lot harder to swallow itself, so it's going to remain independent. it gets bigger in really core basins. katie: it's different to watch major drillers pursue growth by acquisition strategy. also today, we also have news that merck is going to buy a biotech for a deal as much as $3 billion. it feels like healthcare and energy have been some of the sectors that people have been calling for a m&a revival for a while now. >> i would say they're going to see continued activity, although i feel like we're at the tail end of it. healthcare is bumping. you got large companies trying to add too their pipeline. tech, you're seeing l.b.o.'s come back, and you saw some rumors in the press this week. there are a lot of big transactions that are still out there. m&a, i'm not going to say it's back, but let's just say it's coming back. katie: it's bumping in certain sectors, as you put it. the deals that are getting done, are the
there was speculation that conoco would have been a takeover target itself. now it's striking this $22.5 billion deal, which is going to make it a lot harder to swallow itself, so it's going to remain independent. it gets bigger in really core basins. katie: it's different to watch major drillers pursue growth by acquisition strategy. also today, we also have news that merck is going to buy a biotech for a deal as much as $3 billion. it feels like healthcare and energy have been some of the...
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May 31, 2024
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conoco, to me five, seven, ten years ago leading divesting, getting lean and mean and are late to the party. talk about the m & a bonanza to me, what's next >> good news what you're saying, getting oil volatility saudi's and u.s. cuts and can't handle low prices. you know the oil price those you love overall stayed in a range we think that gives big oil a higher multiple, bought market cou -- because the market couldn't handle volatility. having said that, september a seasonably bad month may typically is a good month for oil. driving season but action in may is concerning. all eyes on usual suspect. china, et cetera saudi has little choice. have to maintain cuts. increase production oil heads near 60. companies are consolidating cutting costs maintaining capital discipline in the case of conoco, adding free pash flow with marathon to get them through a major capex space building in the alaska willow project and others. yeah i wouldn't say conoco was late to the trade, because obviously they did right at the bottom big and continue to add stuff. what's unusual for us is we like the bi
conoco, to me five, seven, ten years ago leading divesting, getting lean and mean and are late to the party. talk about the m & a bonanza to me, what's next >> good news what you're saying, getting oil volatility saudi's and u.s. cuts and can't handle low prices. you know the oil price those you love overall stayed in a range we think that gives big oil a higher multiple, bought market cou -- because the market couldn't handle volatility. having said that, september a seasonably bad...
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i've got to tell you what i really like is what conoco is doing. they're down $3.5 an hour and a half ago. conoco is a better buy than marathon. >> could be. >> conference call starts at 10:00 eastern, so we may get even more details. >> complimentary acreage. david, you didn't know this was coming? you were so busy killing paramount, you didn't see this? >> i didn't see it, no. i do hear -- it has not been a great year for m&a, we all know that. better than last year, which was one of the worst, but not great. but i continue to at least hear that there's some big things out there. whether they come to fruition, of course, continues to be the key question. this is a fairly large deal. they haven't changed and the issue is antitrust. you think about this year, you've got exxon completing its deal to acquire pioneer, chevron hoping to complete its deal for hess. the only thing now standing in the way -- i mean the main thing is that arbitration that they're dealing with with exxon over the joint operating agreement, and you've got this deal. oil and
i've got to tell you what i really like is what conoco is doing. they're down $3.5 an hour and a half ago. conoco is a better buy than marathon. >> could be. >> conference call starts at 10:00 eastern, so we may get even more details. >> complimentary acreage. david, you didn't know this was coming? you were so busy killing paramount, you didn't see this? >> i didn't see it, no. i do hear -- it has not been a great year for m&a, we all know that. better than last...
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May 30, 2024
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conoco is not done forever. there is another one that could look at opportunities. when you think about all of these companies, the goal is to provide the sustainability and durability and part of it is consolidating things. vonnie: when you look at the price and valuation, it's a premium. is that fair and is this a good valuation? >> marathon had one of the highest freak cash yields. -- free cash yields. . when you look at the deals that have been done over the last two years, it's been about a 10 or 15% premium that has been faith. i think the price they pay for marathon made a lot of sense. by our numbers, roughly 10% of free cash flow per share. i think it's a reasonable premium. vonnie: i want to ask about the opec-plus meeting in oil prices. it seems that we are not going anywhere on the barrel of crude. will the price of oil go up and will opec continue to hammer out more gains out of this market? >> $85 oil are good prices. i think there will be some desire to see stability in that range. opec has taken out for little bit of surprise by holding a virtual mee
conoco is not done forever. there is another one that could look at opportunities. when you think about all of these companies, the goal is to provide the sustainability and durability and part of it is consolidating things. vonnie: when you look at the price and valuation, it's a premium. is that fair and is this a good valuation? >> marathon had one of the highest freak cash yields. -- free cash yields. . when you look at the deals that have been done over the last two years, it's been...
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that'll help conoco expand its drilling operations in new mexico, north dakota and texas, and offshore of equatorial guinea. in the last years, large and mid—sized oil companies have been competing to buy up their smaller rivals. according to reuters, that deal—making totalled some $250 billion last year. 60 billion of that is thanks to exxonmobil�*s takeover of pioneer natural resources last fall. another 53 billion is due to chevron�*s deal with hess, which was approved earlier this week. if conocophillips' latest deal is approved by marathon 0il�*s shareholders — and by regulators — it will be expected to close in the fourth quarter of this year. dan kemp is chief research and investment officer at the investment management firm morningstar. dan, what is driving this boom in oil and gas deals we are seeing, what is driving this run? ., , ., , run? hello. yes, actually, it is a break-out _ run? hello. yes, actually, it is a break-out of— run? hello. yes, actually, it is a break-out of common i run? hello. yes, actually, it- is a break-out of common sense is a break—
that'll help conoco expand its drilling operations in new mexico, north dakota and texas, and offshore of equatorial guinea. in the last years, large and mid—sized oil companies have been competing to buy up their smaller rivals. according to reuters, that deal—making totalled some $250 billion last year. 60 billion of that is thanks to exxonmobil�*s takeover of pioneer natural resources last fall. another 53 billion is due to chevron�*s deal with hess, which was approved earlier this...
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that'll help conoco expand its drilling operations in mexico, north dakota and texas and offshore of equatorial guinea. large and midsize oil companies have been competing to buy up the smaller rivals. according to reuters, the deal—making totalled some $250 billion last year. 60 billion of that is thanks to this takeover of pioneer natural resources. which was approved earlier this week. another 353 billion is due to chevron�*s deal hess, if this deal is approved by regulators, it will be expected to close in the fourth quarter of this year. software giant salesforce shares plunged in extended trading, down 16%. this after the company reported weaker—than—expected quarterly revenue. its outlook for the current quarter also fell short of what analysts were expecting. the weaker guidance signals less optimism in the company's artificial intelligence strategy. to the shipping industry — there's been growing concerns about re—routing to avoid the suez canal, that's creating more problems and higher costs. since last october, shipping vessels were forced to avoid the waters o
that'll help conoco expand its drilling operations in mexico, north dakota and texas and offshore of equatorial guinea. large and midsize oil companies have been competing to buy up the smaller rivals. according to reuters, the deal—making totalled some $250 billion last year. 60 billion of that is thanks to this takeover of pioneer natural resources. which was approved earlier this week. another 353 billion is due to chevron�*s deal hess, if this deal is approved by regulators, it will be...
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o move conoco film phillips down better than 2% "the wall street journal" reporting con fo phillips will acquire marathon oil all stock deal worth over 17 billion dollars conocophillips expected to increase dividend by 34% to 78 cents a share expects share buy backs over 20 billion dollars first three years conoco fill is shares up 17% last year marathon oil up 16% that time frame this happens on heels of the chevron acquisition of hess we are waiting for regulatoryr regulators to sign off on dow industrials up 3% s&p up 11% nasdaq up 13% bay have it all-time high yesterday above 17,000 for the first time, joining me medical ill wealth management president co-head eric, great to see you thank you so much for being here congratulations on this big job you just hit 3.3 trillion dollars, in assets under management wow! . >> again thanks for having me lucky to be here not only behalf of myself but great pattern in team around the country really representative us final advisers that work with clients every day. >> how do you want to allocate 3.3 trillion i was reading fundstrat thomasly said
o move conoco film phillips down better than 2% "the wall street journal" reporting con fo phillips will acquire marathon oil all stock deal worth over 17 billion dollars conocophillips expected to increase dividend by 34% to 78 cents a share expects share buy backs over 20 billion dollars first three years conoco fill is shares up 17% last year marathon oil up 16% that time frame this happens on heels of the chevron acquisition of hess we are waiting for regulatoryr regulators to...
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conoco is down to touch in our early market trading. this indicates how much more of this tie up you can expect given this administration would be more amenable to allowing these transactions to go through in order to create the resilience in the face of some of the geopolitical threats that remain. jonathan: more on that story this morning. we want to get to the broader price action. we are negative by zero .6% on the s&p 500. the 10 year is slightly higher. we will catch up with victoria fernandez as stocks fall on hawkish comments. tom stier with an optimistic view on climate change and amy wu silverman on the market uncertainty around the november election. we are stuck in the fed waiting game with stocks falling on the back of hawkish comments from neil cash carry. victoria fine and as -- victoria fernandez writes this -- victoria's with us right now. let's start with the sustainability. are there questions around a big move in the most important name in this equity market? it's nvidia and the equity market is done nothing. >> i th
conoco is down to touch in our early market trading. this indicates how much more of this tie up you can expect given this administration would be more amenable to allowing these transactions to go through in order to create the resilience in the face of some of the geopolitical threats that remain. jonathan: more on that story this morning. we want to get to the broader price action. we are negative by zero .6% on the s&p 500. the 10 year is slightly higher. we will catch up with victoria...
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conoco is buying back a lot of stock and buying back more after this deal. the buying back at seven times is more mixed. >> this is something we have seen so much activity in this industry, especially after the two big deals unleash ed last year with exxonmobil and pioneer and chevron going after hess. what do you expect? more consolidation? why is this happening? >> this is a history of shale maturing. you have a proliferation of companies and as they mature, you see they consolidated materially. there are huge synergies on the conoco and marathon deal with estimates over $5 billion. you can use more people manage wells and optimize from the field. it makes sense as they had these fields more delineated and production growth slows to have larger fields managed by smaller number of operators. this means there is not going to be the same oil production growth that we saw from shale over the last decade which is quite bullish for oil over the coming years. >> that's an interesting point. do you see trouble coming from regulators trying to stop any of these dea
conoco is buying back a lot of stock and buying back more after this deal. the buying back at seven times is more mixed. >> this is something we have seen so much activity in this industry, especially after the two big deals unleash ed last year with exxonmobil and pioneer and chevron going after hess. what do you expect? more consolidation? why is this happening? >> this is a history of shale maturing. you have a proliferation of companies and as they mature, you see they...
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so marathon shares up about 8%, conoco phillips down about 4%. merck is buying ibio for $1.3 billion in cash up front, $1.7 billion in milestone payments. so shares are down about 1/3 of 1% on that news. again, a number of names in takeover talks today. and then if you want to take a look at the mega cap world, this is becoming a very interesting dynamic move between apple and nvidia. both shares are up today. apple about 1%, nvidia about one half of 1%. at this stage right now, apple's market cap stands at roughly 2.94 trillion dollars. if you look at that. you can see it right there. the market cap for nvidia, $2.8 trillion. so if you are talking about a roughly $140 billion difference in market cap, that perspective in context is roughly the size of a nike in market value, so there could be in the coming days an interesting move where nvidia might, hypothetically, overtake apple as the second most valuable company in the world. back over to you. >> i'm just looking for syn synonyms, consolidation wednesday. >> what's a "w" word? >> there's no
so marathon shares up about 8%, conoco phillips down about 4%. merck is buying ibio for $1.3 billion in cash up front, $1.7 billion in milestone payments. so shares are down about 1/3 of 1% on that news. again, a number of names in takeover talks today. and then if you want to take a look at the mega cap world, this is becoming a very interesting dynamic move between apple and nvidia. both shares are up today. apple about 1%, nvidia about one half of 1%. at this stage right now, apple's market...
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that will help conoco expand drilling in mexico, north dakota and texas and are to equatorial guinea. large and midsize oil companies have been competing to buy up the smaller rivals. according to reuters, the deal—making totalled some 250 billion last year. 60 billion of that is thanks to this takeover of pioneer natural resources. another 353 billion is due to chevron�*s deal hess with. if this deal is approved by regulators, it will be expected to close in the fourth quarter of this year. erin delmore reporting. software giant sales force shares plunged in extended trading, down 16% — this after the company reported weaker—than—expected quarterly revenue. it's outlook for the current quarter also fell short of what analysts were expecting. the weaker guidance signals less optimism in the company's artificial intelligence strategy. to the shipping industry — there's been growing concerns about re—routing to avoid the suez canal that's creating more problems and higher costs. since last october, shipping vessels were forced to avoid the waters off yemen, after facing at
that will help conoco expand drilling in mexico, north dakota and texas and are to equatorial guinea. large and midsize oil companies have been competing to buy up the smaller rivals. according to reuters, the deal—making totalled some 250 billion last year. 60 billion of that is thanks to this takeover of pioneer natural resources. another 353 billion is due to chevron�*s deal hess with. if this deal is approved by regulators, it will be expected to close in the fourth quarter of this...
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conoco wants its reserves in texas. stuart: consolidation in the oil industry. coming up. nikki haley slammed the biden admin a straight and during her trip to israel and signed a an israeli bomb, a missile with a message finish them. is she making a play to be trump's vice president? a report by un watchdog says iran has increased its stockpile of enriched uranium to near weapons grade levels as iran looks to get economic sanctions on its nuke program lifted. k t mcfarland on that next. her uncle's unhappy. i'm sensing an underlying issue. it's t-mobile. it started when we tried to get him under a new plan. but they they unexpectedly unraveled their “price lock” guarantee. which has made him, a bit... unruly. you called yourself the “un-carrier”. you sing about “price lock” on those commercials. “the price lock, the price lock...” so, if you could change the price, change the name! it's not a lock, i know a lock. so how can we undo the damage? we could all unsubscribe and switch to xfinity. their connection is unreal. and we could all un-experience this wh
conoco wants its reserves in texas. stuart: consolidation in the oil industry. coming up. nikki haley slammed the biden admin a straight and during her trip to israel and signed a an israeli bomb, a missile with a message finish them. is she making a play to be trump's vice president? a report by un watchdog says iran has increased its stockpile of enriched uranium to near weapons grade levels as iran looks to get economic sanctions on its nuke program lifted. k t mcfarland on that next. her...
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May 17, 2024
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we own conoco phillips. we own chevron. we've had it for ten years. we own less than we did a month ago. >> mike santoli will be next for isdawo" ghafr t te th break. one prawn. very good. did i say chicken wrong? tired of people not listening to what you want? it's truffle season! ah that's okay... never enough truffles. how much are they? it's a lot. oh okay - i'm good, that - it's like a priceless piece of art. enjoy. or when they sell you what they want? yeah. the more we understand you, the better we can help you. that's what u.s. bank is for. huge relief. yeah... ♪ [thunder rumbles] ♪ ♪ ♪ ♪ the biggest ideas inspire new ones. 30 years ago, state street created an etf that inspired the world to invest differently. it still does. what can you do with spy? ♪ ♪ [thunder rumbles] ♪ ♪ did you ever worry we wouldn't get to enjoy this? [jeff laughs maniacally] (inner monologue) seriously, i'm on the green and all i can think about is all the green i'm spending on 3 kids in college. with empower, i get all of my financial questions answ
we own conoco phillips. we own chevron. we've had it for ten years. we own less than we did a month ago. >> mike santoli will be next for isdawo" ghafr t te th break. one prawn. very good. did i say chicken wrong? tired of people not listening to what you want? it's truffle season! ah that's okay... never enough truffles. how much are they? it's a lot. oh okay - i'm good, that - it's like a priceless piece of art. enjoy. or when they sell you what they want? yeah. the more we...
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May 2, 2024
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they're not chevron, exxon, but they're like conoco phillips and on down. they comprise a large portion of it and then you have all of the, let's call them large cap not mega cap, oil and gas companies in the united states i still think this is a bull market right now testing support where they broke out from earlier this year they're not giving much back on the down days. i don't think you need $100 oil for the stocks to make sense they are generating tons of cash flow they have great balance sheets i think they will be chased until the end of the year. >> liz >> i like energy a lot there's a lot of reasons for it. the price of oil right now, right under $79 a barrel, that's right where the biden administration said they would refill the spr, that creates a floor on that price. energy stocks are dividend pairs. investors do want dividends. i always look at the broad market conditions. i think we are set to see a steepening in the yield curve. it doesn't matter if it's a bull steepener, energy tends to do well >>> still ahead, the setup on key earnings comi
they're not chevron, exxon, but they're like conoco phillips and on down. they comprise a large portion of it and then you have all of the, let's call them large cap not mega cap, oil and gas companies in the united states i still think this is a bull market right now testing support where they broke out from earlier this year they're not giving much back on the down days. i don't think you need $100 oil for the stocks to make sense they are generating tons of cash flow they have great balance...
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May 3, 2024
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. >> kevin, you have chevron, co conoco. >> it's just such a massive amount of money that's returned to them. we talk about apple, and there's no comparison to a $110 billion buyback. i get it. if you're invested in the names, you get great dividends, special dividends, share buybacks, low multiples, now, to steve's point, we did trim chevron. we were a little bit overweight in it. i will not abandon it and try to run into technology because they have a lot of heavy lifting to do. it looks like they did it this earnings season. we have nvidia coming up. they're probably the behemoth in the room. i will not abandon the energy trade because i don't believe the broadening has ended. and i want to be diversified. >> so speaking of being diversified, the broadening trade, tjx, you bought more. we'll do that before we take a break. give us insight into why you leaned into this more. >> if we see consumer trading down, we like off brands -- looked at kel logg's, mcdonald', starbucks, tjx tried to catch up to the post-pandemic numbers. but we're seeing growth again. good dividend growth. onl
. >> kevin, you have chevron, co conoco. >> it's just such a massive amount of money that's returned to them. we talk about apple, and there's no comparison to a $110 billion buyback. i get it. if you're invested in the names, you get great dividends, special dividends, share buybacks, low multiples, now, to steve's point, we did trim chevron. we were a little bit overweight in it. i will not abandon it and try to run into technology because they have a lot of heavy lifting to do....
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May 29, 2024
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. >>> conoco agreed to buy marathon in an all-stock deal. >>> google search, closely held secret since its inception, consequential system for the web, an online leak claims to show thousands of internal documents related to how it works. google has yet to comment on the alleged leak. >>> and starting next month the only copy of the wu-tang's album will go on display at an australian art gallery, for ten days visitors will be able to hear the album, on loan. really curious if it leaks out and anyone else gets to hear what it sounds like. >> julia, thank you. >>> coming up, major league baseball is making a major change to its record books, what's behind the change, more than a century in the making. >>> plus, all criminal charges against the world top golfer has against the world top golfer has been dropped, what the i was stuck. unresolved depression symptoms were in my way. i needed more from my antidepressant. vraylar helped give it a lift. adding vraylar to an antidepressant is clinically proven to help relieve overall depression symptoms better than an antidepressant alone. and in
. >>> conoco agreed to buy marathon in an all-stock deal. >>> google search, closely held secret since its inception, consequential system for the web, an online leak claims to show thousands of internal documents related to how it works. google has yet to comment on the alleged leak. >>> and starting next month the only copy of the wu-tang's album will go on display at an australian art gallery, for ten days visitors will be able to hear the album, on loan. really...
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May 1, 2024
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affected on the close that the spot of crowd oil would be lower today but that's not why >> you buy conoco, slb, hess, and halli. some are wonder wling whether t momentum in energy is running out. >> it could be in the spot price of oil, but mark fisher told us a year ago, $65 to $85 is perfect for all these energy equity companies >> even if the economy -- if it gets a little more squirrely that you worry it might. you're predicting it will. >> if it gets a little more squirrely, as you progress through the course this of this year, there could be pressure on the energy names >> inventory is up today did you see that >> i did >> regional banks. you picked up five regional banks. huntington, m&t, hartford. >> if you asked me the headline of the april reconstitution, it is the increased exposure in the financial sector steve, 23% exposure here one year ago, we were at 1.8%. that's our second largest sector weighting. what's coming down, industrials are beginning to come down lower and lower. industrials had been the second largest. so we're adding names like cme, t. rowe price, names that w
affected on the close that the spot of crowd oil would be lower today but that's not why >> you buy conoco, slb, hess, and halli. some are wonder wling whether t momentum in energy is running out. >> it could be in the spot price of oil, but mark fisher told us a year ago, $65 to $85 is perfect for all these energy equity companies >> even if the economy -- if it gets a little more squirrely that you worry it might. you're predicting it will. >> if it gets a little more...
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May 10, 2024
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in the meantime, it is shut down to the point where obviously cable cars conoco down california, which is legendary. they are moving buses instead of cable cars around this particular area. back to all right. well, thank you for breaking that down. it will be going to will throughout the morning. >> as the story continues to unfold. all right. time 5.36, a man accused of hitting 2 people, including a 14 year-old girl during a police chase in san francisco has pleaded not guilty to all charges. his arraignment yesterday revealed more about romney jefferson's past run-ins with the law. just how prosecutors say he hit the teen. golfers in kerman has that story. >> thursday afternoon, 54 year-old rodney jefferson pleaded not guilty to 2 counts of leaving the scene of an accident. reckless driving with great bodily injury, evading an officer and driving on a suspended license. the charges stem from his arrest tuesday for hitting 2 pedestrians and leading san francisco police on a chase across the city. authorities say tuesday morning's incident began with jefferson hitting one person while
in the meantime, it is shut down to the point where obviously cable cars conoco down california, which is legendary. they are moving buses instead of cable cars around this particular area. back to all right. well, thank you for breaking that down. it will be going to will throughout the morning. >> as the story continues to unfold. all right. time 5.36, a man accused of hitting 2 people, including a 14 year-old girl during a police chase in san francisco has pleaded not guilty to all...
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May 29, 2024
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conoco phillips just made a big deal to acquire marathon oil for a total of $17.1 billion. when including $5.4 billion in debt, that deal is actually valued at $22.5 billion. the deal is expected to close later this year. but it's still needing the approval from marathon's stockholders. in 2023, energy companies spent over $230 billion either merging with or buying competitors. >>> so you are feeling little bit better about the economy for the first time in four months. consumer confidence hit 102 in may. up from 97.5 in april. it's a third straight month of increases. but the survey from a nonprofit business research group showed that there are continued worried about inflation. this month, more of you said you believe a recession is somewhat or very likely in the next year. >>> well, it's time now this get a look at what's coming up later on cbs mornings and joining us right now from new york is michelle miller. i know you are going to talk about summertime and summer safety but the blue on your dress already giving me summer vibes. i love it. >> oh. thank you my dear. di
conoco phillips just made a big deal to acquire marathon oil for a total of $17.1 billion. when including $5.4 billion in debt, that deal is actually valued at $22.5 billion. the deal is expected to close later this year. but it's still needing the approval from marathon's stockholders. in 2023, energy companies spent over $230 billion either merging with or buying competitors. >>> so you are feeling little bit better about the economy for the first time in four months. consumer...
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May 29, 2024
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conoco phillips just made a big deal to acquire marathon oil for a total of $17.1 billion. including $5.4 billion in debt that deal is actually valued at $22.5 million. it's expected to close later this year but still needs the approval from marathon's stockholders. in 2023, energy companies spent over $230 billion either merging with or buying competitors. >>> you are feeling better about the economy for the first time in four months. consumer confidence hit 102 in may up from 97.5 in april. it's a third straight month of increases. but the survey from a nonprofit business research group showed that there are continued worries about inflation. this month, more of you said you believe a recession is somewhat or very likely in the next year. >>> well, openai announced a flu flagship ai model to replace the current g president 4 systems. what is that? it powers the popular chat bot a lot of us have been playing with and san francisco based company also announced a new safety and security committee to explore risks posed by ai technology. so taking a live look at the palace of
conoco phillips just made a big deal to acquire marathon oil for a total of $17.1 billion. including $5.4 billion in debt that deal is actually valued at $22.5 million. it's expected to close later this year but still needs the approval from marathon's stockholders. in 2023, energy companies spent over $230 billion either merging with or buying competitors. >>> you are feeling better about the economy for the first time in four months. consumer confidence hit 102 in may up from 97.5 in...
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May 29, 2024
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conoco phillips says the deal adds complementary properties to its existing u.s. portfolio. that includes the marathon refinery in martinez. now, this marks the latest merger in an industry that has seen several in the past year. the acquisition still needs approval from shareholders, but it is expected to close by the end of the year, economists say. hope for an interest rate cut this year is fading. the federal reserve's next meeting is mid-june. recent remarks by the board indicate the intention to keep borrowing costs high for as long as needed to curb inflation, economists say lingering forces from the pandemic, such as high housing costs, high car insurance rates and hospital bills, are still having an impact on the economy, and youtube is making its catalog of free games available to all users. its collection of playables were only available to the site's premium subscribers. now, the company says the games will start appearing in the youtube app, even if you don't have a paid subscription. there are currently more than 75 games in that playables catalog, including an
conoco phillips says the deal adds complementary properties to its existing u.s. portfolio. that includes the marathon refinery in martinez. now, this marks the latest merger in an industry that has seen several in the past year. the acquisition still needs approval from shareholders, but it is expected to close by the end of the year, economists say. hope for an interest rate cut this year is fading. the federal reserve's next meeting is mid-june. recent remarks by the board indicate the...
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May 29, 2024
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right now looking at conoco down 3% on the deal. marathon up close to 8%. >>> and dick's sporting goods out with quarterly results. talk about the quarter and consumer with michael lasser, ubs equity research analyst. a lot to like. they beat expectations and raised earnings guidance for the full year along with revenue guidance and comps, too. what did you think? that stock up by 7.3% actually. >> you nailed it, becky. few retailers this reporting season who have a combination of reporting mid-gel digit comp growth along with raising the guidance for the year. what i think is that dick's is in a good spot to capitalize. increased competition, within the athletic footwear and apparel space, it's doing a great job of executing. now, the stock had a really nice run over the last year or so. it does trade at a premium to where it has historically. it's going to have a good response today, which is warranted. i think from there probably consolidate and wait to see how trends shape up for the consumer and for this space in the second hal
right now looking at conoco down 3% on the deal. marathon up close to 8%. >>> and dick's sporting goods out with quarterly results. talk about the quarter and consumer with michael lasser, ubs equity research analyst. a lot to like. they beat expectations and raised earnings guidance for the full year along with revenue guidance and comps, too. what did you think? that stock up by 7.3% actually. >> you nailed it, becky. few retailers this reporting season who have a combination...