take conocophillips.ce has nearly tripled and now it's acquiring marathon 0il worth $25 billion, including debt. 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 in the last years. according to reuters, that 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. 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. to the shipping industry, because 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 attacks from iran—backed ho

take conocophillips.he last four years, and now it's acquiring marathon oil in an all—stock deal worth $22.5 billion — including debt. 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,

take conocophillips.rice has nearly tripled and now it's acquiring marathon 0il worth $25 billion, including debt. 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

you can see shares of conocophillips are down.ort the acquire if you're setting this up. so in this case it would be one reason for a bit of weakness in the stock price overall at this point. >> it was cool to look at their onshore portfolio and forward cost of supply less than $30 a barrel of west texas. >> not bad. >> yeah, gives you a sense of what's going on in the energy business. >> yeah. and they do have at least also some l&g capacity in equatorial guinea. don't want to forget about that. >> as crude oil pushes $80. kind of busy day in energy mma with -- saw the hess shareholders approved -- >> approved yesterday, 2:00. not unexpected. there was a period when we thought there might be opposition to what was an at-market deal from chevron. to your point, sara, we have seen a lot of consolidation obviously this year. we saw exxon with pdd, with pioneer. >> yep. >> that deal has been completed. the hess-chevron transaction still on hold pending that arbitration over that argument. big dispute about the joint operating agreeme

would not be a hospital environment to entertain merging with one another, that's exactly what conocophillipsar and what is possible for tankers to get around that neighborhood. they are optimistic not dissuaded by these tragedies. trey yingst on that tragedy and where things stand right now in tel aviv. >> reporter: a big update, the united states is temporarily suspending aid to gaza after than american floating was damaged by harsh weather condition. this project will ultimately be repaired and is expected to be out of commission for just over a week. the incident started when the floating portions of the peer will be moved when one broke away and floated ashore. it continued with the fixed portion of the gaza he. the press secretary spoke about the situation yesterday. >> if you want to characterize it as a failure i leave it to you. what i can tell you is we don't control the weather. there was a unique pattern of events with high seas and another storm that caused the j lots to become inoperable during that time. you better believe us central command force are doing everything in their

take conocophillips. has nearly tripled and now it's acquiring marathon 0il worth $25 billion including debt. 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 r

conocophillips is in talks with acquiring marathon oil.he all stock deal would value marathon at more than $15 and would give conical control of assets in texas, oklahoma, north dakota and the permian basin. there is a deadline extension intake over talks for bhp para bob. the complicated deal structure was appose in the biggest concerns have not been addressed. bhp must wait six months before it can make another offer and that's your bloomberg reef. jonathan: thank you. this came from adam simon, professor of environmental studies. the conclusion in the paper is the amount of copper needed is essentially impossible for mining companies to produce. this is a big factor in that story between bhp. lisa: they say 49 billion dollars doesn't come close to the value in its whether bhp will offer them more and they have until 5 p.m. london time. annmarie: jeff curry says the best trait he seen in his lifetime. jonathan: more on that later. up next, the white house holding the line. >> i have no policy changes to speak to, it just happened and the

the m & as showing know signs of easing as conocophillips looked to make a deal with its rival marathon. >>> salesforce and the one thing you need to watch for in that report. >>> and what ai calls a big opportunity in autos. mark thee yoes is here. it's wednesday, may 29th, 2024. you're watching "worldwide exchange" right here on cnbc. ♪ >>> good morning and welcome to "worldwide exchange." thanks so much for being with us. we kick off the hour as we always do. futures in the red across the board. you can see it looks like the dow would open more than 140 points lower. we're going to continue to look at the markets throughout the morning. so this action in the premarket. this is after the nasdaq. it crossed 17,000 for the first time ever and right now is sitting just below a fresh all-time high. ahead of the open we're checking some of the biggest premarket laggards in the s&p 500. you see zscaler down by 2.5% followed by pdd holdings, a chinese company. micro c.hchip tech down as well. we're watching the bond market, the beige book to be released at 2:00 p.m. eastern time. take a look

paul: sticking with the oil space, we also heard conocophillips will acquire marathon oil, a $17 billioning, we weren't necessarily looking for something, the opportunity presented itself. that is quite the impulse buy at $17 billion. could we expect to see more of this? stephen: listen, this has been a pretty -- it's a trend that is happening within the shoe space, people trying to see, how can i expand my footprint in shale, how can i get bolder wells and re-track those? you see that with the likes of chevron and eggs and eggs on especially since they had big winnings, huge profits. a lot of capital after the energy crisis in the last few years when oil prices jumped up above $100 and gas prices as well. looking at how can we use that money? they are essentially taking it bet that the oil and gas demand is here to stay. around covid times there was discussion about peak oil demand. that discussion has evaporated and people are saying, how can i pump more and pump it cheaper? and shale is one opportunity. marathon has a lot of older oil wells permit so it's not a play by conocophillips

conocophillips is in advanced talks to buy marathon oil. a deal appears to have been imminent last night. there is still word talks could emerge. >>> shares in american airlines are lower in the extended trade after they issued a profit warning for the second quarter, the flag carrier blaming a weaker pricing power. they now are at $1.5 a share. i read an article about the end of revenge travel by americans. >>> now, still coming up in the show, polls open in south africa if what's set to be the most competitive election in years. we'll have a live report from johannesburg next. don't go away. ah, these bills are crazy. she has no idea she's sitting on a goldmine. well she doesn't know that if she owns a life insurance policy of $100,000 or more she can sell all or part of it to coventry for cash. even a term policy. even a term policy? even a term policy! find out if you're sitting on a goldmine. call coventry direct today at the number on your screen, or visit coventrydirect.com. shipstation saves us so much time it makes it really easy a

on the midday movers when it comes to the equity side, conocophillips agrees to higher marathon oil in an all stock deal. this deal of course adds to a wave of recent energy as producers seek drilling sites on the bet that oil and gas will remain strong. american airlines revising a profit outlook downward, adding to uncertainty. the airline disclosed that their chief commercial officer is departing. china's leading ride-hailing provider, dd global, net loss for the quarter despite the rise in sales. the company is also losing money on a stake in electric carmakers. here in the u.s., electric vehicle inventories are being isolated to just a few states. abigail doolittle is standing by with the details. abigail: before we take a look at geography, let's look at the broader trends with slowing growth specifically for 2024. growth is expected to slow to 20 percent this year down from 40%. that's a pretty significant drop. some of it has to do with that concentration of geography or by state, as you were talking about, we will take a look at that in a minute, but not surprising that the ca

this the 17 billion-dollar marathon, conocophillips deal we've been telling you about today.tely the u.s. oil patch has been a hotbed of consolidation. last year was the most active with 250 billion in deals struck. chevron buying hess. purchasing pioneer resources. charlie gasparino says harbinger with a political component to it. >> not just me. i'm asking my banking sources every day seems like oil patch deal. not by the way small companies. these are multimillion-dollar massive conglomerates. there are economic reasons for doing it. why do they think the biden administration, who we have had people representing lina khan, the ftc chief here much. liz: she has been very tough. by the way that is a live picture of president biden speaking in pennsylvania. i believe philadelphia. >> right. liz: maryland governor. with him. >> i mean, whether joe biden has any clue what i'm talking about is a whole other story but the people -- liz: he has to know people, corporate leaders don't like lina khan. >> he doesn't know. i don't know if he knows or cares. he is that much into the we

conocophillips scooping up marathon oil as the oil sector consolidation continues.e $17 billion deal. more "fast mon" teyinwo. massive added a 25th hour to the day, businesses are wondering "what should we do with it?" bacon and eggs 25/7. you're darn right. solar stocks are up 20% with the additional hour in the day. [ clocks ticking ] i'm ruined. with the extra hour i'm thinking companywide power nap. let's put it to a vote. [ all snoring ] this is going to wreak havoc on overtime approvals. anything can change the world of work. from hr to payroll, adp designs forward-thinking solutions to take on the next anything. (vo) what does it mean to be rich? from hr to payroll, adp designs forward-thinking solutions maybe rich is less about reaching a magic number... and more about discovering magic. norman, bad news... i never graduated from med school. what? -but the good news is... xfinity mobile just got even better! now, you can automatically connect to wifi speeds up to a gig on the go. plus, buy one unlimited line and get one free for a year. i gotta get this deal

conocophillips set to buy marathon oil, a deal that could ultimately reach new mexico, north dakota,ing 2 billion barrels of oil. it's a deal that could ultimately be absolutely massive, worth $17 billion. it changes the game across the united states. it's a massive deal in an industry that has obviously been at the background and the foreground, should i say then, of the u.s. economy. >> arabile, thank you. >>> still to come, our latest look at moana 2. and netflix is kicking off their search for a super star. new details on their upcoming competition shows for aspiring musicians, right after this. ng musicians, right after this. o, ♪ ♪ berries, butter, coffee, cream, ♪ ♪ drippy fingers, deviled eggs ♪ ♪ and empanadas (red and green), ♪ ♪ fettuccine, grits and gravy, ♪ ♪ even hummus, ice cream too, ♪ ♪ jambalaya, jars of kimchi, ♪ ♪ lemonade and cheesy noods. ♪ it has four rolls in one so it lasts longer and feels like the roll never runs out. ♪ nachos, oven, pumpkin guts and puppy footprints, ♪ ♪ potted planters, sneezes, taco tuesday, ♪ ♪ upside-down cake, vindaloo, waffles, ♪ ♪ x

us oil giant conocophillips to buy rival marathon 0il — adding to a quarter of a trillion dollars wortharing for take—off — what's it like to start an airline from scratch and challenge the biggest names in the business? we speak to the boss of riyadh air. welcome to business today, i'm mark lobel. we start with the event ticketing giant ticketmaster — because the australian government says it's investigating claims by a hackers that they have

reporting con fo phillips will acquire marathon oil all stock deal worth over 17 billion dollars conocophillipsxpected 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 any weakness buying i dip seasonality good for june how do you see see it 2024 off

conocophillips buying rival marathon oil. a $17.1 billion deal. a look at stocks right now.p 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 half of the ye

lauren: up 9% beating the s&p, not last man standing, conocophillips buying it, all stock deal worth$22 billion. 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

look at shares of energy companies after a flurry of news regarding deals we got the deal that conocophillipsor $17 billion and on the other cited things, miner bhp decided to pull its $49 billion deal for anglo american. it would be a difficult deal to pull off anyway. let's discuss deal activity with the rbc capital energy analyst. this deal seems to come with a little bit of a surprise, why? >> i think there's been a lot of discussion about marathon being an acquisition target. i would tell you that conoco's name never came up in that. it was a little bit of a surprise. when you step back and look at it, it makes industrial sense. they do quite a bit of business in the u.s. and the other thing is that marathon hasn't east session asset in eg and conoco's got one of the better footprints there. they have commercial efforts that could expand and enhance that. when we look at m&a in the energy space, things have changed. marathon had one of the highest freak cash flow yields. vonnie: it does seem to be a win-win. will it sail past regulators? >> that's the question at this point. these oil tr

conocophillips has agreed to buy marathon. the move expands their footprint in u.s. shale.t also extends a buying spree among major u.s. and oil gas layers. marathon surged following the news. bloomberg is learned sony music is in talks to acquire queen's muted catalog which includes hits like bohemian rhapsody. sony is working with another investor on the purchase, which could total $1 billion. earlier this year sony acquired a half interest in michael jackson's catalog for at least $600 million. coming up in the next hour, our interview with the ceo of link asset management, a group that manages hong kong's first listed real estate investment trust. talking about their business strategy after the portfolio reported an earnings miss. much more to come on "daybreak: australia." this is bloomberg. ♪ paul: tesla has been having a tough year. layoffs have been mounting, its stock is cratering, and some investors say it has a distracted leader in charge as elon musk manages five other firms. today's big take takes a closer look at musk's orbit and how his galaxy of companies st

conocophillips acquiring marathon oil in a $17.1 billion all stock deal right after the chevron hessdation in had this industry is coming. it is a -- with the price of oil being so high and companies vilified by the government they're now looking at how do i maximize returns for shareholders, how do i clean up my balance sheet, looking for efficiencies and capital returns of it's an unbelievable time to be an investor in the oil industry. i don't think we're anywhere near tends of this. maria: mike, i want to thank you for being here this morning. great to have you. i know you're ending this hour but you're going to come back soon. >> yes. maria: mike lee. brian brenberg is here as a special guest panelist for the rest of the morning. he's walking in right now, brian brenberg on set. you're watching "mornings with maria" live on fox business. stay with us. [introspective music] recipes. recipes that are more than their ingredients. ♪ [smoke alarm] recipes written by hand and lost to time... can now be analyzed and restored using the power of dell ai. preserving memories and helping t

record cash piles by energy giants feeling consolidation in the space, exxon, chevron, conocophillipsnew deals this year. lorenzo simonelli is here, the ceo of baker hughes. what does it mean for your world and how will things change? lorenzo: we have seen these times before as consolidation is taken place. obviously we work with our customers and get stronger with them as well. as we see the bigger players get together, we see opportunities to partner with them on the technology forefront. they are looking at efficiency, productivity, looking for ways in which they can also reduce emissions and if consolidation happens we see it as an opportunity to grow with them with a share perspective and introduce new technologies. jonathan: you talk about the new spending cycle, are you thinking about how to develop existing fields or discover new ones? lorenzo: it is definitely about existing fields. when you look at chemicals, esp's, pumps, doing more with what we have. we know that today 75% of the production is from mature assets. we've got to do more with those mature assets. green fields

conocophillips is buying marathon oil in an all stock deal valued at about $17 billion.onoco 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 su