exxon mobil buying pioneer natural resources for nearly $60 billion and in stock. earlier on "squawk box," darren woods explained why this deal works now. it's the biggest since they bought mobile, and how it will work as the emergency industry continues to transform. >> this is betting on the capabilities the people of our two organizations, the technologies that we've developed, to basically more efficiently recover resources at a lower cost and a better environmental footprint so that we are actually advancing the ambitions of the lower emissions fusion by using our combined capability to drive down emissions, produce lower carbon intensity oil and gas, and basically push -- continue to be the most responsible operator for providing oil and gas for as long as the world needs that. >> for more on the deal and market in general, let's get to today's five-star fund manager. bill smeed as over $4 million in asset management. they're 5% at the low. what does that tell you? >> that's arbitrage. there are many people that own pioneer that won't want to own the combined

darren woods, exxon mobil chairman and ceo. look at the esg thing as wind and solar and new alternative energies, that is the european energy play. guy: there was a bigger story here, people have not invested in energy companies because the st issue, despite the fact that -- esg issue, despite the fact that energy companies are some of the biggest proponents executing on projects taking carbon out of the environment and dealing with emissions. you couldn't own them because of the esg mandate, i wonder if that bit is going away now, that it is more of a level playing field. interesting if investors approach it from that point of view. alix: you have to wonder if you had an esg portfolio -- guy: getting hurt. alix: you are feeling a lot of pain. looking over volume, -25%, that is really rough. it is more what does shell and bp do at this point. what do you have to buy, what do you have to sell, what do you focus? guy: shell and bp are in a difficult spot. if they moved to new york -- alix: no way. guy: you wonder if there is m&a

exxon mobil has the best around the world, the best growth opportunities. best transaction, shell companies cannot survive on their own long-term. they are going to have to merge, consolidate, and be part of diversifying companies is my general opinion. this should happen in the next five years. alix: is it going to be like private guys getting together, or what you did were you have a huge reach all across the globe? >> as you know, there's only two large diversified across the globe. i think shell companies are going to have to combine and either try to do it on their own, or merge into one of the diversified companies. that is my general opinion. alix: to that point, does this merge or change any investment decisions you're going to make for stuff out of shale? in brazil, mozambique. isn't going to change looking for acquisitions out of the u.s.? >> is very aligned with our strategy. we've organized ourselves to prosecute competitively-advantage investments along different resource types. we have an unconventional business. scott's business is a pure pla

oil art -- oil prices are higher but when you look at exxon or mobil shares, to companies that fell short of expectations in the case of exxon and chevron. some overseas concerns with exxon. matt: fortunately, we have one of the foremost experts on hydrocarbons with us. alix steel sat down with her coanchor guy johnson and they interview the exxon ceo darren woods. listen to what he had to say about the outlook for energy prices. >> look at what we've been doing and refining. we've been concentrating our refinery footprint and concentrating on producing in the lubricant and traditional fuel space but also the opportunity to use our technology to bring in biofuels to make the lower emissions fuels. we feel good about the footprint we have today. you cannot buy that from a refinery, comes from years of an integrated approach to investing in making sure you have a refinery that is producing a portfolio products that society needs. guy: none of this happens in a vacuum. you must be watching what is happening in the middle east. to what extent there is the possibility of a repeat of the 1970's

it is all stocks so it's 2.324 exxon mobile shares about an 18% premium to where pioneer was. 're happy at exxon they kept the prooem below 20%. they have shown price discipline and this deal one would argue and in the den berry deal as well announced this summer. created earnings per share, operating cash flow, free cash flow. they are talking about as much as $2 billion in total annual average synergy over the next decade. this is bringing an enormous amount of acreage to exxon mobile from someone who has been the premier operator in the midland area. listen to the ceo discuss it? >> the context to look at the deal is the size of the oil and gas industry. while we talk about this being a large merger, transaction, you look at it in the context of the over all oil and gas markets, if you look at it in the context of the production, together while scott and i will have a large business together, it'll still be less than 15% of the production coming out of the per peaup. i think from a scale standpoint we're still a small player in a large market so we don't anticipate any regul

recent years the south american country has become an oil larger oil producer after investment from exxon mobileina's stock market index has dropped further since the pandemic. the csi index hit its lowest level since every 2019. you can keep in touch with bbc and me on social media. imac. what have we got here then mark? tinned food, plastic bottles, food waste. you can tell by the smell that isn't too pretty. it's all over the town, hundreds of discarded trolleys full of rubbish. what a shock, a trolley full of rubbish. is councils are responsible for clearing up alleyways it's difficult to see how things will change without help from the community. this is terrible kids are growing up in thinking this is normal, it's only gonna get worse. light change will not come overnight but what many campaigners are hoping for is at least some improvement. these are the worst wildfires we've seen. people are worried about how far and how fast the flames might move. wildfires are a real risk. we'll start with the cricket world cup. we're about half way through the competition, which means the table is sta

opportunities while the oil prices search crew places of 9 percent this year, less than 2 weeks ago, exxon mobil announced a would acquire pine and natural resources for about $60000000000.00. in the u. k. retailers say that shop lifting is at an old time high statistics suggests that were as many as a 1000 incidents per day of theft from stores during the 1st time of this year. with cases and over 80 percent of cases of shop listing, going on, punished bridge or steve appeared to be guessing boulder. typical small supermarket in south london, owner, ben salva at 9 provides the neighborhood with groceries. seems like this becoming more and more common is cctv catching. 2 men stealing from his trump. i just came in once in a pretty nice bag and the other guy was heading for the me. so, you know, this is what we faced a and he says this kind of thing happens up to 10 times a day. the thieves are from local gangs, but also mothers. so pension is who can't afford the increasing expensive groceries to protect his stuff and sell the rest of them has installed windows at the counter . a radio to coal p

this is a fantastic deal for exxon mobil. it makes them the leader and the daily production will be larger than the production from some of the smaller opec members. if this gets done, and hopefully it does get done, it's a good deal for all, this will benefit exxon mobil. >> why don't you own pioneer anymore? >> pioneer came out of the joet strategy around $217, so basically before the deal it was announced, that's where pioneer natural was. it had lost momentum and that was the reason we had gotten out. >> what do you think about this, steph? you own chevron not exxon, correct? >> i think it's interesting that the two big companies, the biggest companies are doing deals. >> interesting or troublesome? >> that to me is telling. they see value. the price is in line with what the rumors were at. i like the big majors. i prefer chevron and i like the m&a and diamondback energy. i love slb. it's poised to go higher. >> the mega caps we hit in context of the earnings season. a lot of love from amazon because of their prime big de

exxon mobil is eyeing a deal to acquire it.be announced as early as monday and would be exxon's biggest purchase since 1999. it would also theoretically be the biggest deal globally in 2023. guy, do you think this happens? do you think it makes sense? >> makes sense to me. and think about exxon doing it taxpayers a $60 billion deal. effectively what they're telling you is the energy industry isn't going anywhere any too many soon. we still need to be active. as tim mentioned hundreds of times the balance sheets were forced to be better and now they are so they can do acquisitions like this. there's a reason warn buffet owns 23% of ox dental petroleum, because he sees the same thing. i understand it's been a bad week, but maybe there was a positioning thing, but energy is still in play here, and i think this proves it. >> for exxon -- although exxon supposedly is not chasing upstream and resources. pxd has some of the best oil assets in the group. i think at a time when a lot of this is scarce -- i'm talking about core resources

resources, exxon mobil, conoco, phillips down to and a third%. "the claman countdown" is coming right back. this is spring semester at over 13,000 us school districts, which have become top targets for ransomware attacks. but there's never been a reported ransomware attack on a chromebook. which is why thousands of schools like the fairfield-suisun unified school district switched to google tools for education. so they can focus on teaching and 22,000 students can focus on learning, knowing that their data is secure. ( ♪ ) ♪ explore endless design possibilities. to find your personal style. endless hardie® siding colors. textures and styles. it's possible. with james hardie™. ♪ is it possible to fall in love with your home... ...before you even step inside? ♪ discover the magnolia home james hardie collection. available now in siding colors, styles and textures. curated by joanna gaines. the chase ink business premier card is made for sam who makes, everyday products, designed smarter. genius! like 2.5% cash back on purchases of $5,000 or more, s

still to come, exxon mobil nearing a deal to buy pioneer natural resources.ur next guest says it makes complete sense, and this could be the first in a massive consolidation way for energy. >>> plus, the airline index hovering at its lowest level in a year. will look at the headwinds facing the group as earnings season kicks off next week. as we had to break, the dow is up 300 points, nearly 1% right now. nasdaq leading the way with 1.5%. even the russell's are up 1% today with the 10 year yield reversing back over .480. we are back after this. your record label is taking off. but so is your sound engineer. you need to hire. i need indeed. indeed you do. indeed instant match instantly delivers quality candidates matching your job description. visit indeed.com/hire i'm so glad we did this. i'm so glad we did this. i'm so glad we did this. life is for living. let's partner for all of it. i'm so glad we did this. edward jones here's why you should switch i'm so glad we did this. from chrome to duckduckgo. duckduckgo is a browser you download to your mobile and d

exxon mobil is in talks to acquire national resources.ing one of the largest oil companies in the world even bigger. this is bloomberg. ♪ kriti: welcome back. some of america's best-known brands are declaring bankruptcy. berg's sonali basak has more. >> companies found for bigger see at the fastest rates in years. global companies have borrowed more than 500 billion dollars. fed rate hikes began in 20 trade two. -- began in 2022. despite high borrowing, debt continues to grow. by mid 2023, we will see but the costs rise. companies were paying 8.7%. in part because this is by design. interest rates were kept for higher longer. this higher rate environment has createdaounin of distrust -- distressed debt. it has jumped to around 400%. >> the companies upstream supplying, it will impact those businesses. the appetite for risk has declined a bit. it's -- >> to its high point in the 80's, interest rates have always fluctuated with the times. following the great financial crisis, have hardly been the norm. when companies have not been put off b

the s&p reversing the trend after edging lower earlier in the trade, the nasdaq extending trade exxon mobil shares declined after it offered to buy kids rival for $60 billion. the stock deal combines the largest oil company with a major shale developer. shares in birkenstock tumbled more than 10% on the first day of training on the new york stock exchange. the date you -- this comes to the 50 years after its initials on it, and its sandals are considered to be started. the imf has downgraded its global economic outlook again as it continues its annual meetings with its sister organization the world bank. it's expected to slow to -- 32024, down from previous forecasts. the world has yet to fully recover from the covid induced recession and continues to face higher prices in part because by the war in ukraine. the head of the world bank said that geopolitical tensions are adding to the challenges. >> there is no doubt that inflation has begun to come down. i do think that interest rates will stay-longer, and that can be a complicated event, in many ways. both for investments and people who ha

conference of ceos is expected to draw executives of companies like general motors, pfizer, and exxon mobil. so, with as many as 30,000 visitors expected, you can expect white house level security and major traffic disruptions as well. lauren toms got a preview of just how high-level agencies are preparing for an event of this scale. >> reporter: it is all hands on deck in the weeks leading up to the apex conference, as local and federal security agencies race to ensure the event goes off safely. >> a key aspect of security is the known. it is the unknown that gets you. >> reporter: from sentences the police to the secret service and fbi, teams are working around the clock to ensure there are not any unknown factors leading up to the summit. retired fbi special agent in charge, jeff harp, says it is going to take teamwork. >> having a greater law enforcement presence in the area will show that the city is capable of doing what everybody says it sometimes cannot. >> reporter: the muscovy center, the center of what harp calls the sterol zone that will host nearly two dozen world leaders, incl

eso podra opondría a chevron y el otro gigante del petróleo, exxon mobil.or de petróleo en años recientes. pasamos de inmediato con estas imágenes en vivo desde san francisco, san mateo y san josé. vea varios puntos del área de la bahía. se reportó brisa y lluvia el 2 domingo. sin embargo, como puede ver, el panorama de hoy es bastante despejado y al menos sin precipitaciones. pero para conocer los detalles en las próximas horas vamos a pasar con cintia pimentel. cintia cuéntanos. feliz lunes. >> buenas tardes a ti. buenas tardes a todos en casa. bueno, ayer tuvimos la lluvia, hoy tenemos un poquito de viento porque detrás de un frente frío que nos trae esta humedad, cuando eso se va de salida nos trae la ráfagas de viento un poquito en aumento a lo largo de la región. nada tan grave. las ráfagas de viento dentro de 15 a 20 millas por hora, por supuesto, más hacia la costa y hacia el pacífico, pero ya para las horas de la tarde un poquito más tranquilo. esa situación en las temperaturas de hoy, un poquito más en aumento comparado a lo que vimos ayer el sába

el acuerdo enfrenta a chevron y al gigante del petróleo exxon mobil en una de las materias primas des del petróleo del mundo, con sólidas perspectivas de crecimiento. >> un nuevo sismo, esta vez de 2,9, sacudió. hilton se registró a eso de las 7,40 y 02:00 y el inicio se reportó de 4 grados. hasta el momento no se ha reportado ningún tipo de daños. la semana pasada, ese mismo epicentro experimentó un temblor de 4.2. esto fue el miércoles. llevó al cierre temporal del puente río vista y también el servicio board por posibles daños, pero no se reportó ningún daño. así que. pues ya 2 en el mismo, en la misma zona, pero eso algunos expertos dicen que es positivo, no? >> si normalmente entonces cerca de de sacramento es donde ocurrió ese sismo. no se encuentra ninguna falla activa, pero si se encuentra la falla midland que está cerca de la delta y también cerca de ahí se encuentran las fallas de la sierra. incluso también las fallas. aquí, cerca del área de la bahía, y es común que réplica ocurran hasta 10 días después de un sismo inicial. entonces es posible de que esa fue la causa. pero

it also supplies water to 2 other oil fields, operated by exxon mobil and lu, coil and know how to go to work. i lived with my other shop, a lot of with the, with my mom who are not a kid. it can my easy tied to the so what i did not leave a key that i thought you mia and so and then he had me and me, i need that and that that will help me find her into something else. the fisherman, farmers and buffalo headers depend on the same motors. i'm in me. i think the more do that now i got a, a, a in we'll see help us a new, a new way to the job was waiver here. to seldom ever need somebody that was village is located near the oil fields have suffered from severe water shortages. a bus to reach says that the water levels in the martian and surrounding his village of coda significantly dropped when italian oil company any set up a water plant here. i should be good to do then, is it pedestrian? me so far stuff payments. johnny got a lot of the john might not on the also is that i said though with my i don't which the old edition what a scarcity has turned this one striving fishing community i

country has become a major oil producer — 400,000 barrels a day — after huge discoveries by hess, exxon mobil state oil company. 0ur north america business correspondent erin delmore is following the story in new york. why does this make sense for chevron? it is a pretty big price tag. chevron? it is a pretty big price tau. ., ., chevron? it is a pretty big price ta. _ ., ., , chevron? it is a pretty big price tau. ., ., , ., , tag. you are right, it is a big rice tag. you are right, it is a big price tag _ tag. you are right, it is a big price tag and _ tag. you are right, it is a big price tag and what _ tag. you are right, it is a big price tag and what is - tag. you are right, it is a big price tag and what is wild . tag. you are right, it is a big price tag and what is wild is| tag. you are right, it is a big - price tag and what is wild is that this isn't even the biggest energy deal we have seen this year. it isn't even the biggest energy deal we have seen this month. but at $53 billion it is huge. here is what is in it for chevron. as you mentioned, increase access to oil fields and a

it allows chevron to get a piece of exxon-mobile oil fields. the transaction is a win i-win deal.at will challenge personal computers ratcheting production. the accelerated chips is making central units for p.c.'s and would go on sale as soon as 2025. india's reliance industry is nearing to buy disney's india's operations and may share a controlling state which is valued at $10 billion and the acquisition could be announced as early as next month. that is it for us. opening market here in 4:30. futures. another beautiful spring day there on the sydney harbor. this is bloomberg. ♪ so... i know you and george were struggling with the possibility of having to move. how's that going? we found a way to make bathing safer with a kohler walk-in bath. a kohler walk-in bath provides a secure, spa-like bathing experience in the comfort of your own home. a kohler walk-in bath has one of the lowest step-ins of any walk-in bath for easy entry and exit. it features textured surfaces, convenient handrails for more stability, and a wide door for easier mobility. kohler® walk-in baths include two

it's seeking to seize more us production and and also a stake in exxon mobil�*s sizeable oil discoveriescent $60 billion acquisition by exxon earlier this month. live now to jane foley, head of fx strategy at rabobank. good morning to you. good morning- — good morning to you. good morning- we _ good morning to you. good morning. we have - good morning to you. good morning. we have this - good morning to you. good i morning. we have this energy re ort morning. we have this energy report out _ morning. we have this energy report out that _ morning. we have this energy report out that looks - morning. we have this energy report out that looks at - report out that looks at commitment to moving to green energy, the big transition as it is cold, and yet energy, the big transition as it is mid, and yet when energy, the big transition as it is cold, and yet when it comes to the oil sector they are busy doing deals and making hay, still making money from oil while they can.— oil while they can. well, you know, there _ oil while they can. well, you know, there has _ oil while they can. well, you k

the question is do we do it ourselves or become part of a company like exxon mobil? i think exxon has the best stock of any of the diversified companies, the best growth opportunities and for this transaction, shall companies cannot survive on their own long term. they will have to merge up and become part of diversified companies is my general opinion and this should happen over the next five years. >> will it be like private guys getting together or what you did reaching for exxon that has a huge reach all across the globe? guest: as you know, there are only two parts to diversify in the majors. conocophillips versa fight and ox eat diversified. shell companies were have to do it on their own or merge into one of the diversified companies. that's my general opinion. >> does this merge or change any investment decisions that you will make for stuff out of shale like in guiana, mozambique? will you look for acquisitions outside of the u.s.? >> what we're doing is very aligned with our strategy. we are looking for competitively advantaged investments. we have an unconv

exxon mobile made 60-billion dollars. >> sean: charles payne. thank you. that's all the time we have left. audience shows wednesday and thursday. tickets are free. we hope you will join us. never miss an episodes of "hannity." for news all the time fox news.com. i have the best news in the entire world. i really do. let not your heart be troubled. why? tha tha tha tha tha thankfully greg gutfeld is back to put a smile on our faces. >> i am trace gallagher with a fox news update. the ground invasion into gaza is delayed. but president biden will visit israel on wednesday one of his goals is to prevent this from becoming a regionalg battle. greg palkot is live at the israel and lebanon border. >> clashes up here in the north. the news that president biden will come here wednesday meeting with israel officials. they plan what looks to be a looming land, sea and air invasion of gaza. the humanitarian crisis inside gaza strip grows with civilians seeking shelter, wood and water. in northern israel there is a possibility of a second front opening up with iran ba

interestingly, the biggest deal that exxon has done since emerged with mobile way back in 1999.really speaks to what is happening in the sector at the moment. the whole space, i mean the u.s. shale has been the backbone of u.s. energy independence for a while in the revolution there has been petering out for some time. it is a consolidation of the last remaining big assets and companies are cutting back on r&d and exploration. this consolidation is going to wrap it up for one of the majors as a look and solidify gas. when you layer a supply shock as we have seen with the ukraine crisis on top of an energy transition, they really started zeroing in on gas and the importance of that in the modern world. yvonne: could you tell is a bit more about the details of what we know so far. pioneer has a market cap of $50 billion in terms of price. it is not going to be cheap right? harry: not cheap at all. dollar volume wise, getting close to $60 billion in much larger the next largest deal of the deal which was pfizer's acquisition of seagen which was $40 million. we are up there in terms

exxon mobile made 60-billion dollars. >> sean: charles payne. thank you.ience shows wednesday and thursday. tickets are free. we hope you will join us. never miss an episodes of "hannity." for news all the time fox news.com. i have the best news in the entire world. i really do. let not your heart be troubled. why? tha tha tha tha tha thankfully greg gutfeld is back to put a

on the heels of exxon mobil, 60 billion and it was pioneer natural resources.als, people. they all realized it was cheaper to drill for oil on wall street than in the ground. they see these things from the stock market and they just passed. the oil industry has a newfound discipline. they can pick up some other companies. the giant budget to make deals added to earnings almost immediately. it is a great time to own oil companies and keep their stocks. it was terrific. it seemed way too cheap. it is too much sense as a takeover target. it makes it so and resistible. electric vehicles seem a lot less ethical than they did six months ago. it is stuck in a world where oil has an expiration date. in vehicle sales, they do not believe that short termination theory anymore. because of the last two mergers, they are aided by troubles in the middle east. they got clobbered today when oil dropped a couple bucks. now it is an oil and gas for her. we have ceo tom jordan on the show. this cruiser is going to rule. we have a recipe for the trust. we just cannot get enough. m

we are getting breaking news, hearing from the wall street journal that exxon mobil is closing in ononeer natural resources. this would be a huge takeover which could be worth roughly 60 billion -- $60 million, and a deal could be sealed in the coming days assuming talks don't hit a last-minute snag, according to people familiar with the matter. pioneer natural resources is one of the largest independent e&p companies in the u.s.. it produces exclusively in the permian basin. we hear from the wall street journal that exxon mobil is nearing a deal to buy the company for $60 million and the deal could be sealed in the coming days. what you, on daybreak asia. this is bloomberg. ♪ >> the u.s. and china are said to be moving closer to setting up a meeting between president joe biden and xi jinping at the next apec summit in california. the asian government management -- managing editor joins us in hong kong, we have seen more of these high-profile meetings between the two sides. what are we inspecting from a summit? -- expecting from a summit? >> whether or not it will take place is a mai

exxon mobil saying it is in talks to pay more than $250,000 a share for pioneer natural resources.value pioneer ate $58 billion. sources tell bloomberg that an all stock deal could be announced as soon as wednesday. but a final agreement is yet to be reached. the move would cement exxon's position as the dominant oil producer by far. it would be one of the biggest bits of consolidation we have seen in the energy complex for years. here's a look at markets. lg energysolutions up 7%, seeing its revenues drop, but not nearly as much as it had been anticipated. it is preparing the kospi to a good gain, 2.5% as it is waiting. it helps those particular stocks. looking at the rates picture. taking a look at yields. we've got the 10 year where it was yesterday, the two-year climbing up a bit for .99%. we're seeing a lot of concentration on the fed and cpi numbers. ♪ discover the magnolia home james hardie collection. available now in siding colors, styles and textures. curated by joanna gaines. it's easy to get lost in investment research. introducing j.p. morgan personal advisors. hey dav

. >> exxon mobil, $60 billion bit natural resources, they will be the largest single player in the basinant to increase oil production 21% in four years. they want to bring more barrels of oil, millions of barrels of oil to the market by 2027. this is positive. >> well, it is and we have plenty of oil and gas in this country all short end of the administration. it's crazy war against fossil fuel, that would come online fast. we made huge technological advances in the last 20 years, we can liberate the world, the world is on liquefied natural gas and nothing is this administration's bench on regulations. hundreds of billions of dollars of new regulations. everything you use they want to attack others gas stoves, pizzas in new york, anything that makes life better they want to make it worse. dishwashers taking four hours which you could wants to in an hour. unleash the american people, ronald reagan taught us in great things would happen especially now that the bad guys in the world, it war in the middle east expand. dangerous situation and this administration remains clueless. >> steve fo

this is days after the exxon mobil pioneer 60 billion-dollar deal, why, why now, consolidation absolutelyyana, south american country between venezuela and brazil, away from the middle east chaos, proven resources there. and then the energy companies flushed with cash, chevron is not using the cash for the deal that is ahead scratcher, their recommended returning it to shareholders and recommended in 8% increase to the dividend to a dollar in 63 cents. stuart: why is the stock down? >> not sure they're using the cash to rewards shareholders. >> that was an interesting deal on guyana. >> i was reading no oil reserves proven a few years ago they put themselves on the map. stuart: now they do. next one apple, do they have a problem with the fox can't plant and taiwan. >> there are reports that beijing is probing their tax reporting and use of land, why now, foxconn is considering investments in india and the founder of the company is running for the presidency of taiwan. big china flexing his muscles, apple has a lot of problems in china. chinese retailers are offering deep discounts on ipho

on oil look at exxon mobile buying pioneer the fracking companies will not produce more he surrenderedl of this. >> is important to point out, the inflation that the biden administration is on the supply side what they're doing with energy is hurting the supply to control prices, the fed cannot to anything about that they can set the fed funds rate wherever they want it will not produce more oil and bring prices down, were not clearing the market and were allowing opec plus to be the marginal producer and they say fine we want 90-dollar oil, what we did last year was strategic petroleum reserve was unconscionable and now are potentially going to face a crisis in if this gets worse they will not be enough oil to deal with. honestly, the point that you make i wish when everybody understood the biden administration has been a gift to chevron and exxon were big investors and i'm sitting there saying all the competition is going away and you're pointing out the smaller companies are struggling with the interest service, a lot of them have not had a majority wall. wait until next year the ye

alphabet, exxon mobil. apple has over 160 billion in cash. suddenly, these are generating significant income. 4, 5%. now this is not necessarily a reason suddenly to be bullish on cash for its companies but it does provide a modest cushion against a weaker economy. in other words, it's helping them out. the implication for earnings is that buybacks are sold to investors primarily as a way to improve earnings per share so a lower level of buybacks potentially would be a modest negative for earnings. >> and that's because as you take that stock out of circulation, you are calculating earnings over a smaller denominator. that's one of the reasons these are so popular among executives. >> there's been a lot of debate about the fact that some of these buybacks tdon't necessariy reduce the earnings per share because they give options on the front end so it's a giant hamster wheel, so for the companies that have been reducing their share count, apple is one of them. they're a big buyback monster. potentially stopping or slowing down buybacks would b

freeport, largest copper company in the country, exxon mobil, big dog.chnology here. tech, minerals, gaming, oil, and gas, airline, again, everyone passed. everyone passed. maybe making it too easy. franco in new york? >> caller: hello, sir, how are you? >> i am good, chief. what is happening? >> caller: here are my stocks. i have gold barrack, charles schwab, kellogg, ralph lauren, and pepsico. am i diversified? >> okay. let me see. pepsico got hit. we know that because of the frito lay partnering. ralph lauren, not my favorite apparel stock. doesn't seem to be doing much. charles schwab 51 today. seems too cheap. even for the trust, we were debating. kellanova, the snacks spin off of kellogg . depends on how you appear. and the barrack, which is gold. we got minerals, snacks, finance, apparel, and a problem. we've got snacks and pepsico too. frito lay. i knew that somebody would have a problem. we have to make a change here. were going to get rid of kellanova. and why? get eli lily. and then when we got? i like to say there's always a market summer. i

>> i don't like exxon mobile or chevron on that mna deal tim asked tom what he thought.hat was the top of the market there npc, marathon petroleum as far and away beat everyone else out on performance i love the chart there is no one even close i don't know if they're going to acquire someone. it's a huge company. but i would sniff around on mpc on either side of that equation. and i think you will be okay whether or not there is any mna or not. >> well, i mean, the big issue here is the price action in chevron and exxon. we know the entire sector that is energy, there is emp names, right? and there is refining and oil services, but the big integrators and there are three that make it up, which are halfway to the entire sector, they're under real pressure. in fact, they're breaking trends since the covid low. it is a real trap. we broke out and now we're faltering. this has been one area of the market that has been consistently good since the covid lull and now it too is under pressure. >> bank of america says it is time to bet on that generation, boomers. guy, are you o

>> exxon mobil, this seems like the easy button. buying back shares, and it's on sale. >> carrie?e. mid cap tech name. it's come down. we buy here. >> crowdstrike, look for the names in your portfolio that are stronger. those will have the best move. >>> good stuff. i'll see you in a couple hours, "the exchange" is now. >>> thank you, scott. in the tug of wars, the jobs report tomorrow morning could dictate the next move. our next guest says stocks and yields are both heading lower here. >> he's here to tell us what he means by that. >>> home builders have been in the sweet spot, and their able to buy down rates. is it time to bail? >>

maria: what about oil and the deal this morning, exxon mobil and pioneer?hich just underscores -- maria: are you expecting more consolidation in the oil market among the large players given the price of oil? >> there has been so much consolidation already. it's amazing actually they keep finding another entity to buy. this will create arguably the largest shale producer here in the u.s. what a great story that the administration just won't embrace. the fact that we have the ability to produce more oil than anybody in the world right now and yet we're tying our hands and the reason exxon is going out and buying pioneer is because it's trying to consolidate that ability to produce oil. it's not getting any help from the administration. maria: $60 billion deal. ryan, it's good to see you. >> thank you. maria: thank you so much. adam, sti you're sticking with d we're grateful. president biden finally addressing the nation yesterday after not being visible at all after the war began if the middle east, he failed to mention iran in his remarks. kentucky senator r

the oil prices are up this morning, exxon mobil crossing right now reported to be on gravity, jumpinge to higher oil prices, we have a ten year treasury yield that will be higher this morning up from 4.85 recently 4.88% and that's the warning if you do have a sustained upturned by oil prices if they break above the 100-dollar mark, then you might well be looking at a worsened outlook for inflation. that means a ten year yield over 5%, more fed rate hikes and with that you will have significantly lower equity prices. maria: what do you think troy? more inflation worried this morning? >> i agree with john 100%. part of the fundamental reason that tenure is worried is the economy has been stronger and much easier to take core inflation from six to 4% and with home prices accelerating to the upside and with oil rebounding and commodities rebounded more broadly, that brings into play potential further hikes, we don't think they're going to hike but there is the potential to do that. when we look at the bond market, what scares us more than the fundamentals is the technicals, we are treasur

were starting almost 0 this is going to continue we are war in the middle east and despite what exxon mobildoing this is going to affect cpi and a lot of the economic indicators that traders look at. i think people need to be wary of hot cpi and even the core might be affected by this. maria: we got worse that expected numbers are in the on the producer price index the consumer price index continues to show an elevated level of essentials like fuel, food, shelter. what is your take on the macro story given all of that and the slowdown that we are seeing as we see earnings kicking off this morning. blackrock missed revenue expectations rather and we have the major banks kicking things off we are waiting jp more, wells fargo later this hour then followed by citigroup at 8:00 a.m. what is your take your expectations for the banks. >> let me break this down, j.p. morgan is going to be winning because they made the right duration pets. you have wells fargo, nobody cares about wells fargo there can have double-digit decline in profit because they do too much mortgage business. we have citigroup,

that and much more when "squawk box" comes right back. >>> the big corporate news of the morning, exxon mobil in an all-stock deal worth $5 9.5 billion. this is exxoni's biggest deal since it bought mobile. its production would double to 1.3 million barrels a day. >> with this deal we've been working hard in our own business to drive technology and drive our approaches and improvements and finding an opportunity to partner with scott's organization, they bring in our technology and development approach. >> this is the best company top take 100% stock in the world in my opinion. what darren has done with this company over the last few years, in turning it around they've outperformed all the majors across all indexes. >> scott sheffield is not only the ceo at pioneer natural resources, he's the founder of the company and has a big stake and he says he's holding on to the exxon shares once it closes and he'll be retiring but he'll be taking a saeat on exxon's board. but there's questions about size, whether regulators will get involved, potentially the department of justice and exxon and pioneer

it puts chevron, and exxon-mobil head-to-head into one of the fastest growing commodities, shale.ig off shore oil presence in guyana which has become a major oil producers in recent years. >>> we have a weekend of consistent mild weather ahead. here is meteorologist kari hall with the seven-day forecast. >> today our temperatures inland reach into the mid-70s and a cool down is headed our way on wednesday. as that cold front moves through, it doesn't look like we'll get much in the way of rain but it is mostly cloudy and windy and look at morning temperatures. from thursday morning into the weekend, dropping into the upper 40s. we do make some nice recovery with highs in the upper 60s. and a mostly sunny forecast into the weekend. san francisco will reach the upper 60s, low 70s for the start of the week. but then as we do get that cold front coming in. it is mostly cloudy. maybe even some light rain. but then the rest of the week is dry and the morning temperatures will be much cooler heading into the weekend. >> thank >>> cal state east bay is working to get more educated profess

going to talk about exxon mobil buying a pioneer, some incidents hate e-mail like you're you're promoting the death of our planet. like no knives, talk business. >> but that's the big story of today. bitcoin's above 30,000. it's not there to just like a mutual fund, and that would legitimize it a little bit some people are speculating on that day. >> and don't forget, thanksgiving is around the corner and popeyes its own and $99. turkey you can do eat serve and it was real popular. last couple yourself. i stay with what's working, to speak, ok, very good. >> and i liked music bed. by the way. it's very track full, but also very i don't if you can hear that, but i can hear it. it's very cool. some birds chirping in. there's a little bit some going a little bit. i think, potentially you look into that. i want to talk a little bit about a car payments because of blew my mind when i saw what the average >> car payment is these days for a new car? and it's not surprising. but at the level it is why so many people are starting to fall behind on their car payments is a pretty crazy interesting.

exxon mobil down about 2 3/4%, over 100,000 shares. and it would be the biggest purchase by mobil and bigger than their purchase back in 2010. a big deal may be brewing over there. you have next generation, tesla 700,000 shares in volume with news they're cutting prices on model 3 and y vehicles. they'll rain from $250 to 2,000 per car. we are watching then shares of nvidia as well. they've been moving gains and losses here, roughly 130,000 stha shares of volume. the report goes on to say ai has looked into acquisitions while looking into other options like collaborating more with other chip makers. so watch nvidia. >> when we come back, two big interviews you don't want to miss. we'll talk to del technologies ceo michke dell. former governor ron desantis. and we've got the september jobs report. that is out in just over half an hour. we'll bring you those markets and the instant rkmaet reaction as soon as it crosses. box "squawk box" will be right back. ( ♪ ♪ ) ♪ (when the day that) ♪ ♪ (lies ahead of me) ♪ ♪ ( seems impossible to fac

you can take the large-cap oil companies whether exxon or mobil generating free cash flow, that is afterll of our expenses that they pay in x-uppercase-letter and exploration of roughly 10% on market cap and then you have other smaller producers where you can go up to 12 or 14% from cash flow, what are they doing with that, they're returning it to shareholders. an environment where market is going to be choppy and you have geopolitical risks so you never know will happen to the price of oil seems like a good sector to be owning. jack: is a fascinating sector over the past ten or 15 years, oil prices were negative for a while, the street felt that there was too much cap expending, it looks like they got disciplined now. >> not only disciplined in the x-uppercase-letter but also in the geographic reach, they were taking a lot of risk in certain parts of the world and drilling and exploration and now as witnessed by the two acquisitions, they're bringing it more home so taking less geopolitical risks to extract and sell oil. jack: the u.s. is the world's largest producer. >> nothing wrong w

. >> the top corporate stories we are following, exxon mobil in talks to pay more than $250 per sharesources. at that price, the deal could value pioneer at least $50 billion. sources tell bloomberg that a deal could be announced as soon as wednesday, but a final agreement has not been reached. the move would cement composition as the permian basin's dominant oil producer by far. the cornish chairman will step down next year as part of a board room cleanout. he will retire before the and -- annual meeting in may 2024. his fellow directors will retire after the happy results in february. qantas is looking to bring in fresh faces to repair its battered reputation. the results of an independent review on major governance issues will be released in the second quarter of 2024. lvmh shares in the u.s. down after it was reported that sales in the third quarter grew slower than expected. organic revenue and its fashion and leather goods rose 9%, short of the wall street expectation of more than 11%. sales on wines and spirits fell 14%, much worse than estimates. asia sales, excluding japan, d

. >> we spent a large time talking about exxon mobil buying pioneer.m people who were familiar or it's no farther along, bev the and that said, typically leaking look that do. >> csx chairs are off. the first oil is up as we stused this morning. . in okay, a lot of that song, stop. >> as you pointed ou on. tlfrm and we had an opportunity to watch, map tch up p they did use all-stock there. is this expected here in terms of what will it look like? i've heard nothing that indicates this thing is not in line still to retoo jim. often toombs when you see a journal sto p -- >> this is my own editorial analysis. to see what i seb prm so i thought there should have been more circumspect in their frm without a taught. without a doubt. >>. n i think surprised my son is willing to accept certainly in the 270, 280 range. >> you think it worth more? caller: i didn't i it nrm but fwen, if you do believe in pros prm and you to ge to damp frng and we talked about the lowest technology. >> it's $50 all in. >> that's right. and israel recreasing the republican values o

this is exxon's largest acquisition since merging was mobile. ant producer of oil in the permian. an interview with their ceos, alix steel catching up with both of them later. darren woods one and something to buy, stop sheffield was retiring, perhaps looking for something to sell. lisa: the timing is interesting, especially when oil is such a focus when it comes to where that will play with respect to inflation as well as the u.s. and their independent, given some of the concerns internationally. the fact that you have one major player in the shell catch some late-night -- shale patrick may be more amenable to regulators than two years ago. jonathan: looking forward to those interviews. with us at the table here in new york is kathy jens. wonderful to catch up with you. we spoke to charles cantor yesterday who said that bonds are contracts and equities are stories. i want to talk about race action. the first two days of last week, we had double-digit moves, yields higher. the first two sessions of this week, we have got double-digit moves, yield