that man right there, exxon mobile ceo darren woods. we'll talk about yesterday's news where they outlined exxon's plan for growth and spending. that was yesterday. then we've got another biggest, home builder stocks hitting highs. toll brothers ceo doug yearley joins us. >>> jim sat down with amazon ceo andy chasy last night. they talked everything. take a listen. >> consumers are still spending. they're being careful about what they spend on and they're looking for bargains and deals wherever they can and wherever they can trade down they're trying to do so. if you look at what we did in our holiday season, it's important to save customers money, particularly during the holidays and especially in this economy. in our prime big deals day, which was our exclusive event for prime members to kick off the holidays, we had tens of millions of deals. it was the best kickoff event we ever did. >> that's interesting, especially what we heard from doug mcmillan yesterday as well, the other major retailer in our country. what else stood out to y

offshore reserves that exxon discovered would be inj that exxon discovered would be in the economic—he economic interest.— that exxon discovered would be in the economic interest. do you think he's serious — the economic interest. do you think he's serious about _ the economic interest. do you think he's serious about going _ the economic interest. do you think he's serious about going across - the economic interest. do you think he's serious about going across the | he's serious about going across the border or is this such a national touchstone issue that it's a good one to pick on before an election? it's interesting. he's certainly hoping — it's interesting. he's certainly hoping for— it's interesting. he's certainly hoping for a _ it's interesting. he's certainly hoping for a rally— it's interesting. he's certainly hoping for a rally around - it's interesting. he's certainly hoping for a rally around the. it's interesting. he's certainly- hoping for a rally around the flag. he was— hoping for a rally around the flag. he was very— hoping for a rally around the flag. he was very u

yes, exxon and chevron do have - exxon and chevron do have production in guyana and exxon in particular. there is also a large chinese company, also part of the consortium as well, so they obviously have a lot to lose if guyana does get annexed and therefore contracts have to be negotiated. i guess the key thing the market is worried about is venezuela's appetite to utilise that oil. if you look at the stats at the moment, venezuela has the largest oil reserves in the world, close to 300 barrels of oil reserves, the only country that comes close is saudi arabia, yet venezuela, its production of oil is only around 700,000 barrels per day, compared to saudi arabia's constrained production of 9 million barrels per day. it's capabilities of producing 13 million barrels per day. it demonstrates the fact that went venezuela, despite having large reserves does not use it much. if that were to be applied to guyana's world reserves, if it got annexed, it could be another constraint into oil supply and could tighten the market even more than would be expected. market even more than would be exect

exxon mobil forecasted a big boost to mobile earnings of the next few years.li, your first. the lows of the day, i think and the russell is giving it all up. russell up 1.5%. >> the banks wrote more than 2% of the open. it wasn't effortful moved to resume the rotation from the few into the many we are at the borderline. you get into these situations. 11% and three weeks in the market. everybody says it has to cool off and we need to consolidate and work off this overbought condition and ideally it does about going sideways that is happening but that new tip into we have waning momentum but the market seems tired and we can't breakthrough resistance. were in that zone right now. clearly the context being waiting for the jobs report. the next group of things that will help us figure out if we had transitioned to genuine economic resilience and easing financial conditions and an easier bed or if we need to worry about more of a slowdown and the early december tendency to have choppiness and give back after a strong november. >> it's not your average strong novemb

right. exxon mobil cares about profit. know a per cubic co director of the midwestern institute of marks to serious and political analysis. thank you. now for some positive developments in africa, a russian cargo ship with 25000 tons of grain has arrived. in the somali capital, mogadishu, rushes and basset, or to the country visited the c port for the official hand over of the great system all is interior minister. the cargo is part of the humanitarian aid package. following this month, flooding in the east african country, which has killed more than a 100 people and displaced over a 1000000. moscow says a 2nd factor of grain will be sent to somalia before the end of the year. so malia express gratitude for the assistive saying it will help thousands of its citizens in this time of need. we are thankful for the delivery of 25000 tons of grain which will greatly benefit the thousands of some other people texted by the car and slots resulting from el nino. this assistance arrives at a crucial moment and once more we come on

. >> in 1977, exxon senior scientist james black told the management committee that according to, quotegreement the unlikely manner in which mankind is influencing the global climate is by carbon dioxide release from the burning of fossil fuels, unquote. he warned the last year that action would need to be takena, cording to an investigation by inside climate news. an exxon spokesperson said the company did not reach those conclusions or try to, quote, bury them, but what the companies knew at the time and spent millions of dollars to hide from us is really quite stunning. >> 1982, seven years before i was even born, exxon accurately predicted that by this year, 2019, the earth would hit a carbon dioxide concentration of 415 parts per million and a degree of one degrees celsius. dr. hover, is that correct? >> we were excellent scientists. >> and this is not just ancient history. "the wall street journal" just reporteded this year that in 2011, when the intergovernmental panel on climate change convened by the u.n. was warning of what would happen to the earth if carbon emissions caused

right now, again, is exxon mobil and that's on mobile. doesn't care about some realty or to even right. it's on mobile. busy cares about prophets. the, the, the russian representative has abstained from voting on a un resolution because of what it calls the west disdainful attitude toward the collective issues of the global south. the envoys said they only want to impose their own agendas. our key concerns that remained on included, we have to admit candidly that the mission did not to manage to carry out the tasks before it. basically it just started working in the interest of just one political group which did not enjoy the mass support and the so did you society, a task of them. the mandate of the mission remained on paper for many years and instead of one helping with the result of being a crisis unit times on the compounded of the situation and the interaction between the so then he's and you and leadership was undermined because of the efforts of some of our western colleagues, it became essentially an instrument of existing pressur

it doesn't represent a threat to the interest exxon mobil does. all the size of these made to my question, i'm going to dispute to, i think a new dimension in 2015 web ex on mobile discovered this massive crude field in the region. but what, what role do western energy companies play in this debate? i mean, can they influence what really goes on in the region? well, this referendum is non binding. it was more of a diplomatic referendum with more than 95 percent of venezuelans voting that yes, the se, keeble and his resources should be developed for the benefit of the event as well. in people who we know have been crushed by these sanctions. now for almost a decade, the international court of justice has ruled in favor of the guy in east, but this can be seen is very prep, provocative a proxy decision that favors the interests of the us in there are other international partners. we'll do everything to towards south american unity and economic integration. if we go back to 1899. these board is whenever drawn by the local indigenous and mixed populat

exxon is preparing to announce ambitious capital spending plans tomorrow.any expected to target production of more than 4.4 million barrels of oil a day by 2027. this according to reuters. and to address the impact to reduce demand for motor fuel and the rising adoption of evs. exxon has been sort of just out there since 2022, same levels, not doing too much. >> i thought it was breaking out to the upside. it certainly appeared that way. then the deal was announced and the chevron deal and all these big cap integrated names have sold off. but i will say this, on valuation, it's not going to get a lot cheaper than it is now, and i still think the energy space is in play. >> it seems exxon has always been, you know, entranced by production growth and it's a story they've had a big issue around. they've got this guyana asset, which is the most exciting asset in the world. the fact they're going to be increasing cap x around it, they need the technology to actually add 700,000 barrels to the existing lot, is important. and as someone that believes that these co

this adds to it's illegal conduct of grunting or exploitation licenses to exxon mobil over a c found until emanation with vanesso. and they also denounced guy on his quote, imprudent attitude for opening, what they said was the possibility for an imperial power to install military bases, threatening the regions zone of peace. they said those actions recklessly violate international law guy, out as president air fun. i'll leave responded by saying his country would take every necessary steps to protect itself from bed, as well as options. we take this threats very seriously and we have initiated a number of precautionary measures to ensure the peace and stability of this weekend. then honest, managed by that as well uh, are in full defiance of international law. just last week the chief of staff of the guy on the defense forces held talks with us military officials. and of course, us secretary of state anthony, blinking and called guy on his president immediately after materials announcement to reaffirm the us is on wavering supports. the secretary reiterated the united states called

it's become hard to distinguish where the oil company ends and the government begins. exxon executive as join the guy and he is president, and his suite of cricket matches and the vice president regularly host press conferences to defend the oil company. amazingly, the head of the us southern command, general laura richardson had no problem voicing washington's desire for latin america's lucrative natural resources, especially guy on as well. i'd like to refer to the western hemisphere on as our neighborhood light suite crew discovered off of diana over a year ago. all of the resources this hemisphere is very rich and natural resources . you have them as well as resources as well with oil, and this region matters with all of its rich resources. diana registered the world's highest real g d p growth rate last year. and it's set to become the world's fastest growing economy next year. meanwhile, but as well as economically purple by us sanctions, while it actually fits on the largest proven oil reserves, so is going on are truly independent. well, it seems to us interest in that territo

chevron and exxon will have their own reduction targets.nd particular, they want a zero flaring by 2030. there total scope, 1, 2, and three and three is the hardest you can do. it is like sonali and i buying a tank of gasoline at the pump. they are doing the stuff and it is crucial for all oil companies to reduce methane, reduce flaring regardless of whatever targets are set at cop 28. sonali: how does this work in terms of existing partnerships? there's already an amount of things they are doing, signing a piece of paper will not make things better. are they making progress with their existing partnerships that can really push back against something like kerry's critique? alix: every company will say they are doing a good job and ahead of targets and full disclosure, etc. they bring foreign oil companies out. they will all say that, right? it becomes a question of what about the other guys, how fast can they catch up and who will pay for all of that? it's expensive to fix leaks and do all this, expensive to have helicopter flyovers or dron

right now, again, is exxon mobile and that's on mobile. doesn't care about some realty, right? all right, excellent, mobile cares about prophets to work as most populous nation and economic powerhouse nigeria has shown interest in joining the bricks group. and that's as argentine as newly elected government pulls back on its membership plan. the decision was announced by nigerian minister of foreign affairs that use this. it took her measure as much right enough to decide for yourself. we'd partners should be unaware that should be in mode to for see to the approaches in our interest. we should with them to groups like brooks g 20. and how do you notice? because your sites and k teachers, for example, countries with extraneous population, an economy should belong to them wide and he's nigerian not included. we spoke with public affairs analysts color while age on center says nigeria must put its own interest 1st. you look at and your uh, pull is still an international real. ready from time as one being the very best. remember during the civil war, a lender, i was relying on the

exxon mobil is working with us on a plan they have to do an in kind effort with on the ground training and working with people, being able to help on methane. they are moving differently than chevron. we are hoping to close that out in the next hours if not the next couple days. we will work with the world bank and hopefully be effective. >> what more can chevron do? >> everything. [laughter] >> tell me more. >> very respectfully, i would say you cannot be outside this initiative. we have no real evidence that they and a lot of others are doing what every company needs to do. scope one, scope two. methane 100% by 2030. this is what companies signed up for by the way in the initiative -- i'm not sure who it came from. it was announced there is this global decarbonization alliance and companies have come together. it's not insignificant. a lot of criticism has been leveled at the uae but the fact is this is the first time ever those companies have come to the table with a cop. but they have agreed to do is not enough in my judgment. i would rather have them doing it than not doing it and

right now, again, is exxon mobile and that's on mobile, doesn't care about some realty, right? all right, excellent. mobile cares about prophets. the us and u. k. military contractors created a sweeping plan for global censorship in 2018. that's according to documents. so whistleblower has recently made public. they expose a censorship industrial complex that allegedly emerged following breaks and trumps election ortiz, my shock has the detail freedom of thought and speech are cornerstones of western society or so we're told about how much impulse been through government agencies really have in shaping public narrative and you leave the so called city i l files shows reality behind the scenes. i'm like the twits of files which detail mostly defensive activity, like censorship and the amplification. the cta files show members instructed in a wide array of offensive operations including infiltration creation of site persona is use of the phones, one more. the seats, the aisle or cyber threat intelligence league is a supposedly volunteer group with no government affiliations who f

the street doesn't believe it will be profitable for exxon. they have to convince investors on the merit of the low carbon spending. the market is skeptical of the returns on capital investment. that seems to be hitting the stock here. >> you could say if anything that exxon is outperforming crude. and maybe that is what all of those moves are taking. >> that is the other thing. energy was the top sector for the pop two years. and no sector has been the best for throw straight years. if you did well and probably taking profits, they are still paying a healthy dividend and buying back stocks. the expectations for pioneer is at $60 they still have wiggle room before they can revise the estimates. >> great point, thank you. >> tomorrow we will hear from the exxon mobil ceo daren woods. >>> now let's get to bertha coombs for a update. >> an assault weapons ban put forward by chuck schumer did not pass. it would have reauthorized a provious ban in 1994. the action came as the united states broke the record this past weekend for the most mass shooti

you own exxon, too. demand itself, whether you agree with it or not. >> let's talk about positioning. let's talk about sentiment because that is actually what i believe matters most right now in energy. i said coming into the quarter having an overweight exposure to energy equities that this was a prove it quarter -- >> make it or break it. >> you see things coming. oil will go down. if you are rules based, i raise my hand, you follow the rules at the end of january, myself and others similar to last year when everyone got out of the mega caps, everyone is going to pare back holdings in energy and then at some point in 2024 see the energy recovery again. if that is what is going to happen, and i see that as right now developing. everyone is overweight energy, can make the strong fundamental argument. you have exxon buying back billions of dollars worth of stock similar to what chevron is doing. you want to be in this is a stock you want to be in if oil is going to go down. >> if i take what you say as go

exxon volume in the u.s. has been declining for five quarters.e the bigger companies who control u.s. oil production. that is very different from opec plus put the group together with the declaration of cooperation seven years ago. it will be tougher to slowdown u.s. production which is why it continues to grow despite drilling activity being lower. the story is all about efficiency. that backdrop is adding to more oil. >> peter, a lot of focus has been on the permian basin in west texas. the idea they are trying to consolidate and you are getting more activity and m&a activity for gas producing companies in the country. can consolidation happen enough to where u.s. producers and shale producers can bring down the break-even costs to a level that is not effected by the opec plus policies out there? that is the key concern for u.s. producers. >> it is a lot lower than what we are seeing today in the mid-70s on brent and around 70 on wti. the budgets like exxon and chevron is running is $60 on brent. it works for most of the companies down into the

. >> 1982, seven years before i was even born, exxon accurately predicted that by this year, 2019, theit a carbon dioxide concentration of 415 parts per million and a temperature increase of 1 degree cel celsius. dr. hoffford, is that correct? >> we were excellent scientists. >> and this is not just ancient history, "the wall street journal" just reported this year that in 2011, when the intergovernmental panel on climate change convened by the u.n. was warning of what would happen to the earth if carbon emissions caused the global temperature to rise more than 4 degrees celsius, above pre-industrial levels by 2,100, that same year, then exxon's ceo, rex tillerson's chief of staff, william colton, e-mailed colleagues about tillerson's feedback on a draft disclosure about emissions. tillerson wanted the words, quote, weather extremes and storms deleted. quote, his word was that even mentioning a possible connection between climate change and weather was possibly giving the notion more credibility than we would like, unquote. colton wrote. tillerson denies the company misled investors ov

look at exxon. what does this say?ys that year over year, prices are coming down. >> ten-year, 4.48%, and you saw again, january, crude or -- yeah. we're in $70 level, jim, and that's, as you point out, shares of exxon and chevron and, as you might expect, the sort of broader complex there. the news itself from exxon, though, i do want to get to, because they do, as you pointed out, they raised their share buybacks to as much as $20 billion next year or per year, and this is as well from the pioneer close. remember, of course, they are in the midst of trying to close that very large acquisition of pioneer. they did get a second request, not unexpected, from the antitrust authorities for more information. that will, as expected, it will take some time, but they do increase that buyback. you see some of the other things, jim. capex is going up, and you know, something i have been following since we did our documentary back in june of 2022, low-carbon solutions are what they're now talking about in terms of lower emission

. >> the last one is exxon mobil you bought. why? >> yeah. we've had chevron, and if we're at a 3% position or less in portfolio, scott, we only want to own one stock and we're going to flip it into exxon especially given the fact the dividend and where valuations are. for all intents and purposes, they trade very similarly. but chevron has certain issues, as we talked about on monday, with respect to that stock. so we're going to bet on our one position in energy on exxon. >> all right. thanks for sharing all these with us d our viewers. have a good weekend. wel see you soon. >> thanks so much. >> tt's brian belski from bmo. >>> rob has made new mes 'll document them when we come back. all right, sheila, are you throwing dress like a dad party, a birthday brunch, or a vow renewal for your dogs? yes! the right drinksdeliver. drly. encore energy, america's clean energy company poised for production in south texas, energizing america with reliable and affordable nuclear ergy fuel th an vironmentally friendly extraction process. encore energy. d

video was from december 2019, but changing guy on a really started for years earlier, that's when exxon mobil made the 1st of a series of major oil discoveries offshore. over the years, the findings of totaled an estimated 11000000000 barrels. new oil wells are now set to come on line throughout the decade. growing guy on his production by hundreds of thousands of barrels at a time. by 2028. the country could be pumping 1200000 barrels a day, making it one of the world's top oil producers that could change everything for the country. guy honest sits on the north east coast of south america. it has roughly 800000 residents in 2019 it's poverty rate was nearly 50 percent according to the world bank. now the economy is growing by double digit figures, and that growth is already visible. every building that's going on is 4 stories or, and 5. every really these you might have seen before is being transformed into for the in the oil boom is also brought new problems, locals, complaint of rising costs, and not everyone's profiting immediately to that has a stop guy on his neighbors from lookin

diana joined the ranks of the world's boy produces for the 1st time on friday as us or a company, exxon mobil said it'd be gone, producing crude off the cost of the south american country, making this video is from december 2019. but changing guy on a really started for years earlier, that's one. exxon mobil made the 1st of a series of major oil discoveries offshore. over the years, the findings of total, an estimated $11000000000.00 barrels new oil wells are now set to come on line throughout the decade. growing guy honest production by hundreds of thousands of barrels at a time. by 2028, the country could be pumping 1200000 barrels a day, making it one of the world's top oil producers. that could change everything for the country. guy honest sits on the north east coast of south america. it has roughly 800000 residents in 2019 it's poverty rate was nearly 50 percent according to the world bank. now the economy is growing by double digit figures, and that growth is already visible. every building that's going on is 4 stories or 5. every rule it is you might have seen before is being tr

chevron, exxon, and now oxley has done something. conoco is sort of left out of the party, i would say conoco and devon would have to be two of the most inquisitive ones. >> neil, thank you very much for your time today. basically, it is keep your eyes on the more news. neil deigned men, we thank you. mac now to macy's, matthew bost is an equity research analyst and investor, hall of fame inductee. not, welcome, good to have you with us. >> thanks for having me back. >> you seem to think, if i am reading your report correctly, that this deal from a couple of private investors undervalues macy's rather dramatically, particularly when you look at on the one hand, the real estate value that macy's represents, and on the other hand, i guess you would call it enterprise value of their digital selling. >> yeah, so, there are a couple aspects that we really dug in here. number one is the real estate value. we see eight to $9 billion in real estate value, you have the trophy herald square asset, which we think is $3 billion plus. secondly, y

this has never been about dion ever since when it's, well, it's always been about exxon mobil, b, p, etc, the inheritors of the british empire versus venezuela. i highly doubt it's going to come to a milli military confrontation though. as a force, is it back easily on cartels already have their hands pretty full, losing a proxy war in ukraine and trying to carry out a genocide, empower stuff and not to africa, where some countries have reacted to a fresh round of us sanctions. the visa restrictions were announced for uganda heads and bob, when officials and others who, according to the united states, has hidden the democracy in the countries. meanwhile, uganda as far in the 5 minutes, that personality denounced the move and costs to accuse a washington of pushing its allergy. bt agenda in africa. and here is what locals. i say about the situation for the international related to the country. it has to push its interest even holding me deciding who data on the ground or for example is i'm confused as to what i do is they use our tool to because they kind of suddenly mailings. i'm say

mcdonald es, exxon. mcdonald's 2.7% return, exxon 4.7%. why do you think folks will switch to that?e the fed cuts rates and that will be more attractive? >> absolutely. when the fed cuts rates, people will search for yields. we have calls from clients also focused on that. a lot of bonds are maturing so they will be looking for yields. we do feel with rates getting cut the market will have a tailwind going into 2024. along with the capital appreciation. along with the dividends i think these folks are going to gravitate towards these companies. you mentioned mcdonald's. we think that is fantastic business with recurring franchise revenues coming in and they raised their dividends for the past 47 years every year, year-over-year. kelly: you also real quick, caterpillar is one you're interested in. it is currently hovering around a 52-week high. do you think there is still room to grow here? >> we think the breadth in the market will improve, right? with rates getting cut there will be more construction projects happening. caterpillar is the largest construction equipment manufacturer

. >> yes, i have tesla, thor, and exxon, i bought exxon today, and i sold uber today. >> exxon is down a lot of sense. albemarle, we have tesla, lithium and tesla, that is a problem, we have tesla and ford, that can be said considered a problem. arm is good gas, we have to break this up here. i will stick with honeywell, i want to deviate too much and here we will put in eli lilly, instead of ford, just because we cannot have one is an auto complex here, and if we have an auto complex and autos go down, everything that you have, it will start heading down and you build diversification that won't happen. how about, -- our last color, joseph in florida, joseph. >> hey, boo yeah. >> boo yeah merry christmas. i have a question for you, i'm looking to diversify, my portfolio. and i have shaba five, a firm, verizon, tesla and avalon. what do you think? >> all right a lot of tesla's. all right what someone say, if shopify mostly for econ. and this is the calm fulfillment. i will say that it's okay because of firm can be fined up later for a lot of things, so we have shopify and amazon, some p

that is where exxon and chevron have placed big bets.made a big deal about hess's assets and the part about what was happening in guyana, but we have seen some concerns about what venezuela is going to do there. last week people were saying -- the people we spoke to at least were saying it'snot that big of a deal. you sound a little more concerned about what could happen there. >> so far it's more bluster. i mean, nicolas maduro who's the dictator president of venezuela had this farcical referendum where maybe 10% of people voted claiming two-thirds of guyana. what really piqued his interest was oil. including by oversight -- guyana is very important because it is the fastest growing offshore oil development in the history of the world. maduro's in a weak position, a quarter of the people of venezuela have become refugees and fled the country. the risk is that he will do something. he might see a piece of territory, plant a flag, and of course you have to keep in mind that maduro's close allies are russia, cuba, and increasingly iran. >>

by the way, the exxon deal is for the permian mostly. to get it piece of the action in guyana, which is the fastest growing oil province in the world. geoff: as i mentioned at the beginning, all of this beefed up oil production comes directly at odds with the biden administration's desire to use less oil and gas and use more renewables. how do we as a nation square that seeming contradiction? clifford: [laughs] that is a tough one. because the united states has two goals, and they conflict. one goal is geopolitical, and to take basically to provide gas and oil for europe and other countries that were dependent on russia. also to keep our gasoline prices low to try and fight inflation. but at the same time we are trying to pivot. how do you do those two things at once is a contradiction. the republicans are attacking this administration for making a war on oil, even though our oil production is at record levels. but it is hard to see this administration saying look at us, the united states is the top oil producer in the world, when you wa

i sent him in the oil company, chevron, exxon mobil cetera. they're, they're gonna be big, you know, the worst tragic, but financially they're going to be big. what are some of this? so what the, why is the us put that much power in the eastern mediterranean is not surprising. moss is to fight around if it comes to that. um, but it ran has a lot of options as well, including close. it goes in the uh, the, the golf clothes industry. so for most, if any of those things even get close to happening and are dangerously close today, the price of oil will go to $200.00 a barrel was, you know, just get, i mean, away from the politics. and the tragedy in the united states isn't that ex, border of oil. so will that immediately redid it ends for the united states and oil costs that much a well, the problem with the oil is it really does have a world place you write to us, isn't that ice border? so the reason why your explorer, they sell the world a china, you a, a cetera. but as a world price, you know, brent and you a west texas intermediate and they tr

but i think we have seen the ceo of exxon a doubling _ think we have seen the ceo of exxon a doublingwalk back on the targets it — we have seen bp walk back on the targets it sets for itself. the industry _ targets it sets for itself. the industry has record profits and is investing — industry has record profits and is investing in more oil and gas production rather than investing in the carbonised energy production. it is a controversial discussion and perhaps— is a controversial discussion and perhaps it — is a controversial discussion and perhaps it needs to be on the stage are not— perhaps it needs to be on the stage are not behind curtains. a big theme toda is are not behind curtains. a big theme today is what — are not behind curtains. a big theme today is what it's _ are not behind curtains. a big theme today is what it's called _ are not behind curtains. a big theme today is what it's called a _ are not behind curtains. a big theme today is what it's called a just - today is what it�*s called a just transition to cleaner energy. what role does finance player in that and also j

if you want to on an oil stock i would start right here with exxon. greetings from beautiful virginia. >> how are you. >> good. i called back in march about investing in boeing when they receive substantial orders. since then, the stock has risen 25%. the chinese just announced advances in the goal for their own indigenous airline. do you think it is time to bail? >> absolutely not. we have a multi-year move going here. i think that you want to be a size of that name. >> quanta services has be in the s&p for five years. i bet they can keep outperforming in the future. adobe is falling after the close. i am getting a sense of where they could be headed. >>> all drug companies face one thing when it comes to their drugs. what is the best way to invest? i will free up a strategy for handling that. stay right here. >>> every quarter when adobe is about to report, i warn you that the friday before that they sell all post earnings. they expect better numbers for every subsegment. the guidance was not perfect. the earnings forecast was fantastic, but the for

exxon is the lead in guyana.re talking about as much as a million barrels a day from that very tiny country. there's this threat from venezuela, and woods seemed to be of the belief, jim, that that would not be allowed. that that would be pushed back, any incursions by the venezuelans to somehow take control of those operations. but you've got exxon lead position and then hess, it's the single most important asset for hess, which of course, is being purchased by chevron. but again, mike worth in an interview yesterday, not with us, but indicated he's not overly concerned by those threats. >> the oil companies should stick with venezuela for a long time, and that proved to be an ill advised strategy. >> guys want to hit m&a this morning, both in deals completed and deals announced. let's start with one that's going to close. and we have talked about it a great deal here in the nine or so months since it was first announced. cjef and pfizer. the deal is closing on december 14th. the lawyers and bankers close to thi

exxon mobil and remco are leading a pledge by 50 oil and gas producers to cut emissions from their owntions. the pack was unveiled at the club 20 and conference in dubai and the deal is controversial because none of the firms agree to reduce oil and gas productions, instead planning to stem releases of methane and start -- stopper teams layering of natural gas. the world bank is working with 15 banking chiefs delaware risks for investors so more money can flow into clean energy projects in the developing world. the world bank president says the briber -- the private sector investment is focused on creating an attractive securitize of all asset class for investors to put up large sums for climate deals. the group is working on a more simple fight set of guaranteed products that can be used across different markets. the psi all launched in june including blackrock chief larry fink, akzo ceo thomas mobile and hsbc a head know when. >> bill gates sango world will probably not meet the paris agreement goal of keeping the rise in global temperature below two degrees celsius. world leaders wi

i have been to a couple of summits in paris and glasgow and having the likes of the exxon ceo here is huge jump forward. the biggest energy players on the planet. you are cutting out a large part of industry. exclusive tv industry here at c cop. i asked about the communication and the phase out of abated fossil fuels is the wrong approach. >> what we focused on is emissions. the challenge is eliminating emissions and how we do that will be a function of where the technology goes and what the circumstances are and where the emissions are emitted. i don't think there is a one-sized fits all. what slows us down is the focus on the step change and getting out of our existing energy system and starting something brand new. that is a long, costly process that is expensive. instead, what we should look at is how we get to where we are today to a future with lower emissions and that involves wind, solar and evs. there are options to increase the existing fuel pool. we can make a lower reduction in carbon and swap out the entire vehicle fleet. focus on the emissions and keep your mind open to

it's the first time we've seen a company like exxon mobile agree to this, and reduce methane emissionsthing, that's a hugesh task. but it really means the commitment is there. a lot of people think of natural gas as a clean alturb rturnative. it's not. it still produces methane but obviously produces a lot less than coal and oil. natural gas is kind of that transitional business that would help us stop using so much oil and coal. now i spoke to the ceo of the williams companies, which is processing company for natural gas and they also transport it, and he actually said he's not concerned about his business because of this pledge. he said he thinks this creates a great opportunity. in fact he's here in dubai because he wants to create exports to the uae because he feels in the transition many countries are going to turn to natural gas in this transition and they're going to need more natural gas and he wants to transport it, and that would be great for business. it's a big moment in the industry to see the big companies and see the gnat gas processors and transporters and producers rea

what you did with exxon is one of my biggest themes for 2024. >> great. darren woods was with me a couple weeks back. we were continuing to talk about low-carbon solutions. they have increased their capital outlay, there's still question in terms of ultimate return that they can generate from that business at this point. >> true. >> that will continue to be a question. >>> dow and nasdaq riding nine-day win streaks. s&p within striking distance of a new record those. jim, i mentioned uk and german inflation at the top. german ppi year-on-year down almost 8. we mentioned the 10-year there, below 2. >> look, you would think that if we did a big auction, german trust money would move here. that is what we used to see. we used to see a lot of foreign flows. right now they don't go anywhere. theye willing to accept that return. i don't get it. i guess it's in the trust agreements that they can't do it. it makes no sense to buyheir ten-year. >> if you can buy ours. >> right? >> i would think so. >> or they listen to the various people who comon from the fed who

>> the rotation to value, i like at exxon. >> looking at exxon. and mr. grasso? >> servicenow, full disclosure, bill mcdermott, a good friend of mine. a hidden a.i. play. >> all right, thank you for watching "fast money." "mad money" with jim cramer starts right now. >>> my mission is simple, to make you money. i am here to level the playing field for all investors. i promise to help you find it. mad money starts now. >> hey, i am cramer. welcome to mad money. i am just trying to help you make money. my job is to not just entertain and educate, i want to help you explain. i always hear people talk about what is working at the moment. in the old days when the great rule the mornings, i remember each time i cohosted he would introduce me as reverend jim bob of the church of what's happening now. it was fun. it seemed like everyone was running their own personal hedge fund. it was an understanding that a stock could be huge today and gone tomorrow and everyone was fine with it. those days are over. if you recommend a stock for trade, even if you say buy it today for

we will hear highlights from amazon, exxon, and amd.ll get trader takes on stocks. , first let's get a check on the markets where you can see the dow close to session highs, up 88 points today. it is the laggard. i simply up eight tenths to -- and the nasdaq surging 1.3%. bond deals are happening the tenure for around 11 last check. >>> shares of walgreens boots are leading the dow, up 7%, contract for their best day since march of 2020. the stock is still down nearly 40% this year though, its worst year ever. that is giving the stock very attractive 8% dividend yield. you can see it higher in fact than the stock move today. >>> and the big drug companies are mostly lower today. the white house once again targeting drug outfits saying big pharma makes record profits while americans struggle to afford the drugs they need. let's bring in our correspondent to explain exactly what the biden administration is proposing. >> reporter: in some ways, it's doubling down on the inflation reduction act, in the price negotiation part of that. the bi