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☆ Here are Thursday's biggest analyst calls: Target, First Solar, Ford, Netflix, Amazon, Spotify, Exxon Mobil and more
▼ + stars: | 2023-10-12 | by ( Michael Bloom | ) www.cnbc.com time to read: +8 min

Goldman Sachs reiterates Amazon as buy Goldman Sachs said it's standing by its buy rating ahead of earnings later this month. Citi reiterates Netflix as buy Citi said it's standing by its buy rating on the stock heading into earnings next week. Bank of America reiterates Ford as buy Bank of America said its standing by its buy rating on the stock despite the strike at Ford's largest truck plant. Bank of America upgrades Target to buy from neutral Bank of America said it sees an attractive risk/reward for Target shares. " RBC downgrades ResMed to sector perform from outperform RBC said in its downgrade of ResMed that it sees slowing earnings growth.

Persons: Warby Parker, BTIG, Goldman Sachs, Morgan Stanley, it's, JPMorgan, Bernstein, underperform Bernstein, CLX, Ford, Wells, Wells Fargo, Truist, it's bullish, D.A, Davidson Organizations: Citi, Netflix, 4Q23, Barclays, Spotify, Taiwan Semiconductor, JPMorgan, RBC, BMO, Bank of America, Ford's, UAW, Detroit, underperform Bank of America, 3Q, Microsoft, " Bank of America, of America, Exxon Mobil, Exxon, Pioneer, Seaport, Mizuho Locations: 2H24

☆ US Senator Warren concerned Exxon's plan to buy Pioneer will raise costs
▼ + stars: | 2023-10-11 | by ( ) www.reuters.com time to read: +1 min

Senator Elizabeth Warren, a Democrat on the Senate Banking panel, said on Wednesday she was concerned that Exxon Mobil's (XOM.N) agreement to buy U.S. rival Pioneer Natural Resources (PXD.N) would raise costs and should be probed by regulators. "Oil company profiteering hits American consumers right in the wallet — and I’m concerned that Exxon’s massive acquisition will reduce competition and drive up costs. Regulators should closely scrutinize this big oil merger," Warren said. The deal, valued at $59.5 billion, combines the largest U.S. oil company with one of the most successful names to emerge from the shale revolution that turned the U.S. into the world's largest oil producer in little more than a decade. Reporting by Diane Bartz; writing by Susan Heavey and Costas Pitas; Editing by Caitlin WebberOur Standards: The Thomson Reuters Trust Principles.

Persons: Sen, Elizabeth Warren, Rohit Chopra, Exxon Mobil's, Warren, Diane Bartz, Susan Heavey, Costas Pitas, Caitlin Webber Organizations: . Consumer Financial Protection Bureau, Banking, Housing, Urban Affairs, Consumer, Democrat, Exxon, Natural Resources, Oil, Thomson Locations: Washington , U.S, WASHINGTON, U.S

Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., September 11, 2023. U.S. producer prices increased more than expected in September amid higher costs for energy products, but underlying inflation pressures at the factory gate continued to moderate. Yield on the benchmark 10-year notes fell to a roughly two-week low as prices rose on safe-haven flows due to fighting in the Middle East that has persisted for a fifth straight day. Advancing issues outnumbered decliners for a 1.51-to-1 ratio on the NYSE, while declining issues outnumbered advancers for a 1.10-to-1 ratio on the Nasdaq. The S&P index recorded 11 new 52-week highs and seven new lows, while the Nasdaq recorded 38 new highs and 124 new lows.

Persons: Brendan McDermid, Fed's Bowman, Raphael Olszyna, J Safra, Michelle Bowman, Christopher Waller, Birkenstock, Tim Wentworth, Drugmaker Eli Lilly, LLY.N, Novo, decliners, advancers, Shashwat Chauhan, Ankika Biswas, Arun Koyyur, Shounak Organizations: New York Stock Exchange, REUTERS, Fed's Bowman Exxon, Nasdaq, Treasury, Federal, Apple, Microsoft, Nvidia, Fed, Energy, Exxon Mobil, Natural Resources, Dow Jones, Walgreens Boots Alliance, Novo Nordisk's, Baxter International, NYSE, Thomson Locations: New York City, U.S, Middle East, Israel, Gaza, Bengaluru

☆ Oil falls after Saudi pledge; investors keep wary eye on Israel
▼ + stars: | 2023-10-11 | by ( Nicole Jao | ) www.reuters.com time to read: +4 min

Oil rigs are seen at Vaca Muerta shale oil and gas drilling, in the Patagonian province of Neuquen, Argentina January 21, 2019. Prices settled slightly lower on Tuesday after Saudi Arabia said it was working with regional and international partners to prevent an escalation, and reaffirmed its efforts to stabilise oil markets. Moreover, in the higher rates environment moving forward that “could put the brakes on the upside as far as crude oil,” Yawger said. Russia and Saudi Arabia met in Moscow on Wednesday, when Russian president Vladimir Putin said that OPEC+ coordination will continue "for the predictability of the oil market." Global energy consumption will likely increase through 2050 and outpace advances in energy efficiency, the U.S. EIA said in an outlook.

Persons: Agustin Marcarian, Brent, WTI, …, ”, Bob Yawger, ” Yawger, Tamas Varga, Magid Shenouda, Vladimir Putin, Putin, Janet Yellen, Nicole Jao, Robert Harvey, Laura Sanicola, Muyu Xu, Sharon Singleton, John Stonestreet Organizations: REUTERS, Saudi, . Federal Reserve, . West Texas, . Energy Information Administration, Mizuho, Exxon Mobil, Natural Resources, Organization of, Petroleum, U.S, U.S . Federal, Treasury, EIA, Thomson Locations: Vaca, Patagonian, Neuquen, Argentina, Saudi Arabia, Gaza, Moscow, Brent, Israel, Palestinian, Russia, OPEC, U.S ., U.S, Europe, New York

The deal, valued at $253 a share, would be Exxon's biggest since its $81 billion purchase of Mobil Oil in 1998, years before the shale boom began. It combines the largest U.S. oil company with one of the most successful names to emerge from the shale revolution that turned the country into the world's largest oil producer in little more than a decade. Pioneer is the Permian's largest operator accounting for 9% of gross production, while Exxon occupies the No. "The combination of ExxonMobil and Pioneer creates a diversified energy company with the largest footprint of high-return wells in the Permian Basin," said Pioneer CEO Scott Sheffield. Under Sheffield, Pioneer grew through rapid-fire purchases, including multi-billion dollar deals in 2021 for DoublePoint Energy and Parsley Energy.

Persons: Darren Woods, ” Woods, Scott Sheffield, Shubhendu, Anirban Sen, Sabrina Valle, Gary McWilliams, Rashmi Aich, Jamie Freed, Sriraj Organizations: Exxon Mobil, Natural Resources, Mobil Oil, Exxon, Reuters, Pioneer, RBC Capital Markets, ExxonMobil, DoublePoint Energy, Parsley Energy, BG Group, Denbury, Shubhendu Deshmukh, Thomson Locations: HOUSTON, Ukraine, U.S, Sheffield, Bengaluru, New York, Houston

ExxonMobil and Pioneer Natural Resources logos are seen in this illustration taken, October 8, 2023. Pioneer shares closed at $237.41 on Tuesday, having risen 11% since the first reports of a deal surfaced last Thursday. Exxon declined to comment on "market speculation," while Pioneer did not immediately respond to a request for comment. It is the third-largest oil producer in the Permian basin, after Chevron Corp (CVX.N) and ConocoPhillips (COP.N), with rock-bottom production costs averaging about $10.50 per barrel of oil and gas. Under CEO Scott Sheffield, the oil producer grew through rapid-fire purchases, including multi-billion dollar deals in 2021 for DoublePoint Energy and Parsley Energy.

Persons: Dado Ruvic, Darren Woods, Scott Sheffield, Exxon's, Shubhendu, Anirban Sen, Sabrina Valle, Gary McWilliams, Rashmi Aich, Jamie Freed Organizations: ExxonMobil, Pioneer, REUTERS, Exxon Mobil, Natural Resources, Exxon, Mobil Oil, Antitrust, Reuters, Exxon socked, Chevron Corp, ConocoPhillips, DoublePoint Energy, Parsley Energy, BG Group, Bloomberg News, Denbury Inc, Denbury, Shubhendu Deshmukh, Thomson Locations: HOUSTON, Ukraine, U.S, Bengaluru, New York, Houston

☆ Exxon in talks to pay over $250 per share for Pioneer - Bloomberg News
▼ + stars: | 2023-10-11 | by ( ) www.reuters.com time to read: 1 min

Oct 10 (Reuters) - Top U.S. oil producer Exxon Mobil (XOM.N) is in talks to pay more than $250 per share for Pioneer Natural Resources Co (PXD.N), Bloomberg News reported on Tuesday. An all-stock deal could be announced as soon as Wednesday, the report said, citing people familiar with the matter. Reporting by Shubhendu Deshmukh in BengaluruOur Standards: The Thomson Reuters Trust Principles.

Persons: Shubhendu Deshmukh Organizations: U.S, Exxon Mobil, Natural Resources, Bloomberg, Thomson Locations: Bengaluru

☆ Watch CNBC's full interview with Pioneer Natural Resources CEO Scott Sheffield and Exxon Mobil CEO Darren Woods
▼ + stars: | 2023-10-11 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWatch CNBC's full interview with Pioneer Natural Resources CEO Scott Sheffield and Exxon Mobil CEO Darren WoodsPioneer Natural Resources CEO Scott Sheffield and Exxon Mobil CEO Darren Woods join 'Squawk Box' to discuss Exxon Mobil's deal to acquire Pioneer Natural Resources, an all-stock merger valued at $59.5 billion or $253 a share, how the deal came about, potential regulatory hurdles, and more.

Persons: Scott Sheffield, Darren Woods Organizations: Natural Resources, Exxon Mobil, Exxon

☆ Real assets and labor are winners of the next 10 years, says Smead Value Fund's Bill Smead
▼ + stars: | 2023-10-11 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailReal assets and labor are winners of the next 10 years, says Smead Value Fund's Bill SmeadBill Smead, Smead Value Fund portfolio manager, joins 'Power Lunch' to discuss Exxon Mobil's Pioneer deal, his energy and real estate holdings, and more.

Persons: Smead Bill Smead Organizations: Exxon Mobil's Pioneer

☆ Exxon Mobil CEO Darren Woods on Pioneer deal: Brings higher recovery at lower costs
▼ + stars: | 2023-10-11 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailExxon Mobil CEO Darren Woods on Pioneer deal: Brings higher recovery at lower costsPioneer Natural Resources CEO Scott Sheffield and Exxon Mobil CEO Darren Woods join 'Squawk Box' to discuss Exxon Mobil's deal to acquire Pioneer Natural Resources, an all-stock merger valued at $59.5 billion or $253 a share, how the deal came about, potential regulatory hurdles, and more.

Persons: Darren Woods, Scott Sheffield Organizations: Exxon Mobil, Natural Resources, Exxon

Centerview Partners also advised Exxon, while Morgan Stanley and Bank of America secured advisory roles with Pioneer. A transaction of this size typically results in tens of millions of dollars worth of fees for advisory firms. The chairman of the firm, Tom Petrie, was a co-founder of Petrie Parkman and served a vice chairman at Bank of America before the current Petrie was created. Three of those - Andrew Rapp and Mike Bock in Denver, as well as Jon Hughes in Houston - have been with the firm since its days as Petrie Parkman. Reporting by Anirban Sen and David French in New York Editing by Nick ZieminskiOur Standards: The Thomson Reuters Trust Principles.

Persons: Lucas Jackson, Goldman Sachs, Morgan Stanley, Centerview, LSEG, Petrie Parkman, Merrill Lynch, Tom Petrie, Petrie, Andrew Rapp, Mike Bock, Jon Hughes, Anirban Sen, David French, Nick Zieminski Organizations: Exxon, New York Stock Exchange, REUTERS, Petrie Partners, Natural Resources, Exxon Mobil, Goldman, Citigroup Inc, Pioneer, Centerview Partners, Bank of America, Seagen Inc, Pfizer Inc, Guggenheim Securities, Co, U.S . Department of Energy, Thomson, & $ Locations: New York, Dealogic . Denver, Bank, Saudi Arabia, Alaska, Denver, Houston ., Houston

Dealmaking in the U.S. oil and gas patch has picked up pace as producers sought to replenish their inventory after years of under-investment. The most-prized targets for Chevron could be Coterra Energy (CTRA.N) or Devon Energy (DVN.N), he added. Others mentioned included Matador Resources (MTDR.N), Permian Resources (PR.N) and Diamondback Energy (FANG.O). Still, the Exxon deal, the industry's largest since 2016, also set off worries about stiff regulatory scrutiny over anti-competitive concerns. Exxon does not anticipate antitrust hurdles to complete the deal, expected by early 2024.

Persons: Exxon Mobil's, Gabriele Sorbara, Siebert Williams Shank, Sorbara, Dado Ruvic, Andrew Dittmar, Elizabeth Warren, Sven Del Pozzo, Mrinalika Roy, Chris Sanders, Sriraj Organizations: Exxon, Natural Resources, Co, Chevron, ConocoPhillips, ExxonMobil, Pioneer, REUTERS, Devon Energy, Matador Resources, Diamondback Energy, U.S, P, Insights, Thomson Locations: U.S, Bengaluru, Washington

Exxon Mobil is buying Pioneer Natural Resources in an all-stock deal valued at $59.5 billion, its largest buyout since acquiring Mobil two decades ago, creating a colossal fracking operator in West Texas. In the late 1990s, the merger between Exxon and Mobil was valued around $80 billion. Exxon Mobil Corp. has been using some of that cash on acquisitions. In July the company announced that it was buying pipeline operator Denbury in an all-stock deal valued at $4.9 billion. In 2020 the company said it was buying Parsley Energy in an all-stock deal valued at approximately $4.5 billion.

Persons: Darren Woods, Scott Sheffield, Citi's Alastair Syme, Syme Organizations: Exxon Mobil, Natural Resources, Mobil, Exxon, XTO Energy, U.S . Energy Information Administration, Midland Basin, ExxonMobil, Pioneer, “, Exxon Mobil Corp, Parsley Energy, DoublePoint Energy Locations: West Texas, Texas, New Mexico, Delaware, Midland, U.S

☆ What's behind Exxon's mega-merger and the stocks that could be next
▼ + stars: | 2023-10-11 | by ( Jesse Pound | In Jesse-Pound | ) www.cnbc.com time to read: +6 min

Here's a look at what Exxon is getting in Pioneer and how Wall Street is reacting to the deal. Piper Sandler analyst Ryan Todd also pointed to Chevron as a company that could feel added pressure from Exxon's acquisition of Pioneer. Exxon's Denbury deal, for example, seeks to capitalize on a carbon capture, utilization, and storage (CCUS) company on the Gulf Coast and Rocky Mountain regions. What it means for Exxon's stock Piper Sandler's Todd maintained his overweight rating on Exxon on Wednesday and praised the Pioneer deal. However, Exxon's stock was down 3% in early trading Wednesday, while Pioneer rose just 1%, suggesting others are less sure.

Persons: Warren Buffett, Darren Woods, John Silverstein, Woods, We're, Biraj Borkhataria, Piper Sandler, Ryan Todd, Exxon's, Piper Sandler's Todd, RBC's, Borkhataria, — CNBC's Michael Bloom Organizations: Exxon Mobil, Natural Resources, Exxon, Mobil, Denbury, Occidental Petroleum, UBS, Pioneer, EOG, APA Corp, RBC Capital Markets, Chevron, CVX, RBC Locations: United States, West Texas, New Mexico, Midland, Gulf

☆ Here's a rapid-fire update on all 36 stocks in our portfolio, including our latest addition
▼ + stars: | 2023-10-11 | by ( Kevin Stankiewicz | In Kevinstankiewicz | ) www.cnbc.com time to read: +16 min

Here's a rapid-fire update on all stocks in Jim Cramer's Charitable Trust, the portfolio we use for the CNBC Investing Club. After reducing expenses to improve margins on its retail business, Jim said it's on the right track. Costco Wholesale (COST): Costco remains one of Jim's favorite stocks in the entire our entire portfolio. Ford Motor (F): Jim expressed confidence in Ford CEO Jim Farley, as the targeted United Auto Workers strike approaches the one-month mark. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio.

Persons: Jim Cramer's, Jim, there's, it's, Bausch, we're, We've, Coterra, Dupont, We're, Nelson Peltz, Peltz, Estee Lauder, Patience, Fabrizio Freda, Emerson, Jim Farley, Ford, Locker, Mary Dillon, GEHC, Vimal Kapur, Bruce Broussard, Broussard, he's, Eli Lilly, Lilly, Mark Zuckerberg, Morgan Stanley, Morgan Stanley's, James Gorman, Laxman Narasimhan, Elliott, Stanley Black, Decker, Piper, Wells Fargo, Wells, Jim Cramer, Jim Cramer Rob Kim Organizations: Jim Cramer's Charitable Trust, CNBC, Club, Apple, Federal Trade, Broadcom, VMWare, Bausch Health, Caterpillar, Costco Wholesale, Costco, Coterra Energy, Exxon Mobil, Natural Resources, Disney, ESPN, Hulu, Comcast, Emerson, National Instruments, Ford, United Auto Workers, Nike, GE Healthcare, Electric, GE, Honeywell International, Honeywell, Humana, Linde, LIN, Microsoft, Nvidia, Oracle, Alto Networks, cyberattacks, Palo Alto Networks, Procter & Gamble, Pioneer, Exxon, Constellation Brands, Elliott Management, FactSet, TJX, Marshalls, Wynn Resorts, WYNN, Jim Cramer's Charitable Locations: China, U.S, Maxx, Las Vegas, Boston, Macau, Asia

☆ Morning Bid: Fed's dovish shift welcomed; inflation's next
▼ + stars: | 2023-10-11 | by ( ) www.reuters.com time to read: +2 min

Futures pricing suggests traders now see about a 30% chance of another rate hike this year, down from about 45% a week ago. Ahead on Wednesday, the European Central Bank's inflation survey and U.S. producer price data will lead in to U.S. inflation data on Thursday. The S&P 500's retreat on Tuesday from the day's high, closing only 0.5% firmer, also suggests nervousness. Later in the week U.S. corporate earnings season hits full swing, with bank profits set to rise. Overnight markets welcomed Pepsi (PEP.O) promising to keep on lifting prices, which is a good sign for demand but perhaps a warning sign for inflation.

Persons: Jonathan Ernst, Westbrook Stocks, Raphael Bostic, Fed's Bowman, Waller, Collins, Tom Westbrook, Edmund Klamann Organizations: . Federal, REUTERS, Bankers, Atlanta Fed, Pepsi, Exxon Mobil, U.S, Natural Resources, Reuters, Bank, PPI, Thomson Locations: Washington, Nashville, Asia, Finland, Estonia, Marrakech, Morocco, Bostic

☆ Exxon Mobil agrees to buy Pioneer Natural Resources for nearly $60 billion. Here's what the pros have to say
▼ + stars: | 2023-10-11 | by ( Christina Falso | ) www.cnbc.com time to read: 1 min

Market Movers rounded up the latest reactions on Exxon Mobil from investors and analysts. The pros, including Jim Cramer , discussed the massive U.S. oil and gas producer after the company agreed to buy its shale rival Pioneer Natural Resources in an all-stock deal for $59.5 billion. Scott Sheffield, CEO of Pioneer Natural Resources, and Exxon Mobil CEO Darren Woods both joined CNBC on Wednesday morning to talk about the merger and what to expect next year after its completion. Exxon Mobil stock dipped 3.6% Wednesday. Pioneer is held in Cramer's Charitable Trust portfolio.

Persons: Jim Cramer, Scott Sheffield, Darren Woods Organizations: Exxon Mobil, Natural Resources, Pioneer Natural Resources, CNBC, Trust

☆ Exxon Mobil agrees to buy Pioneer for nearly $60 billion. What the pros say
▼ + stars: | 2023-10-11 | by ( Christina Falso | ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailExxon Mobil agrees to buy Pioneer for nearly $60 billion. Here's what the pros have to sayJim Cramer, Joe Terranova of Virtus Investment Partners and Michael Landsberg of Landsberg Bennett Private Wealth Management discussed Exxon Mobil after the company agreed to buy Pioneer Natural Resources.

Persons: Jim Cramer, Joe Terranova, Michael Landsberg, Landsberg Bennett Organizations: Exxon Mobil, Virtus Investment Partners, Wealth Management, Natural Resources Locations: Landsberg

☆ Stocks making the biggest moves midday: Novo Nordisk, DaVita, Exxon Mobil, Amgen and more
▼ + stars: | 2023-10-11 | by ( Michelle Fox | ) www.cnbc.com time to read: +3 min

Novo Nordisk — The Danish drugmaker stock added 5.5% after saying late Tuesday it was halting Ozempic's kidney disease treatment trial after a committee said an analysis showed signs of success. DaVita , Fresenius Medical Care , Baxter International — Shares of dialysis services providers DaVita and Fresenius Medical Care sank 18.4% and 19.6%, respectively, on Novo Nordisk's news. Exxon Mobil , Pioneer Natural Resources — Exxon Mobil shares fell more than 4% after the largest U.S. oil and gas producer agreed to buy shale rival Pioneer Natural Resources for $59.5 billion in an all-stock deal, or $253 per share. Amgen — The biopharma stock added 3.5% following an upgrade from Leerink to outperform. On Wednesday, B. Riley upgraded shares to buy from neutral, saying Coherent's silicon carbide business could be worth more than the Street's current estimate.

Persons: Eli Lilly, Bruce Broussard, Jim Rechtin, Amgen, David Risinger, Goldman Sachs, Jeffrey Brown, Tim Wentworth, Riley, Raymond James, — CNBC's Michael Bloom, Hakyung Kim, Yun Li, Lisa Han Organizations: Novo Nordisk, Novo Nordisk —, Baxter, Fresenius, Novo Nordisk's, Baxter International, Exxon Mobil, Natural Resources, Exxon, Exxon's, Mobil, Healthcare, Goldman, Walgreens, Alliance Locations: Danish, Novo

☆ Exxon Mobil agrees to buy Pioneer Natural Resources for nearly $60 billion in all-stock merger
▼ + stars: | 2023-10-11 | by ( Fred Imbert | ) www.cnbc.com time to read: +1 min

Pioneer shares were up nearly 2% in premarket trading, while Exxon was down more 2%. As part of the agreement, Pioneer stockholders will receive 2.3234 shares of Exxon for every Pioneer share they own. Exxon Mobil said Wednesday it agreed to buy shale rival Pioneer Natural Resources for $59.5 billion in an all-stock deal, or $253 per share. Since then, Pioneer shares are up more than 10%. Exxon shares have also struggled in 2023, climbing modestly.

Persons: Darren Woods, Woods, Scott Sheffield Organizations: Exxon, Exxon's, Mobil, Exxon Mobil, Natural Resources, Pioneer, Street

☆ Stocks making the biggest moves premarket: Plug Power, Exxon Mobil, Pioneer, Novo Nordisk and more
▼ + stars: | 2023-10-11 | by ( Brian Evans | ) www.cnbc.com time to read: +2 min

Plug Power — The battery stock added nearly 6% after the company projected a sharp rise in revenue by 2027 to roughly $6 billion, according to a regulatory filing. DaVita , Novo Nordisk — Shares of the dialysis services provider sank 15% on the news of Ozempic's effectiveness in Novo Nordisk's kidney disease treatment study. Exxon Mobil, Pioneer Natural Resources – Shares of Exxon Mobil were lower by more than 1% premarket after the company agreed to buy Pioneer for nearly $60 billion, or $253 per share, in an all-stock merger. Meanwhile, Pioneer shares rose 2.5%. CSX — Shares added nearly 2% after an upgrade to overweight from JPMorgan.

Persons: Michael Feniger, Raymond James, Humana, Bruce Broussard, Sherwin, Williams, Heidi G, Petz, David Risinger, Macheel, Pia Singh, Michelle Fox Organizations: Mobil, Bank of America, Novo Nordisk —, Novo Nordisk, Exxon Mobil, Natural, Exxon, CSX, JPMorgan, Leerink Partners Locations: Los Angeles , California, Novo

☆ Exxon buying Pioneer will trigger $71 million in executive windfalls
▼ + stars: | 2023-10-11 | by ( David French | ) www.reuters.com time to read: +4 min

Sheffield is one of the few Pioneer executives who will have a post-deal role - he is set to join Exxon's board. Changes to pay packages that make executive compensation more lucrative in proximity to a sale announcement can also raise eyebrows. The expected payouts do not count whatever Pioneer stock management owns and will be acquired as part of the Exxon deal. Exxon's acquisition of Pioneer will be paid for using new Exxon shares, meaning shares in Pioneer owned by management will be replaced by Exxon stock. It was unclear whether management would have any restrictions on when they could sell the Exxon stock they would ultimately own.

Persons: Scott Sheffield, Eduardo Munoz, Richard Dealy, Bart Brookman, Chris Kendall, Denbury, David French, Gary McWilliams, Anna Driver Organizations: Natural Resources Company, REUTERS, Natural Resources, Exxon Mobil, Sheffield, Pioneer, Reuters, Exxon, Kimmeridge Energy Management, PDC Energy, Chevron, Thomson Locations: New York, U.S, America, Houston

☆ Jim Cramer says it's time to move on from Pioneer after $60 billion Exxon deal announcement
▼ + stars: | 2023-10-11 | by ( Kevin Stankiewicz | In Kevinstankiewicz | ) www.cnbc.com time to read: +4 min

Jim Cramer's Charitable Trust owns 300 shares of Pioneer, at an average price of $230.14 apiece. Club rules prevent the Trust from trading any stock Jim mentions on CNBC television for the three subsequent trading sessions. Pioneer shares climbed 1%, to just roughly $240 each, shortly after the opening bell Wednesday. Exxon CEO Darren Woods told CNBC on Wednesday he doesn't foresee "any regulatory issues" complicating its acquisition of Pioneer. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade.

Persons: Jim Cramer, Jim, Jim Cramer's, Brent, Darren Woods, Woods, Scott Sheffield —, —, Scott Sheffield, Daniel Kramer Organizations: Natural Resources, Exxon Mobil, Street Journal, Exxon, Club, Jim Cramer's Charitable Trust, CNBC, Brent, Hamas, Texas, CNBC Wednesday, Sheffield, Pioneer Resources, IHS Locations: Israel, Houston , Texas

Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., September 11, 2023. ET is expected to show the producer price index for final demand increased 0.3% last month after a 0.7% rise in August, ahead of Thursday's closely watched consumer inflation data. Yields on government bonds have eased from their multi-year highs on dovish remarks from Fed officials earlier this week. Central bank officials such as Fed Governor Christopher Waller, Atlanta Fed President Raphael Bostic and Boston Fed President Susan Collins are also scheduled to speak on Wednesday. Exxon Mobil (XOM.N) lost 1.7% as the oil and gas producer is set to buy shale producer Pioneer Natural Resources (PXD.N) in an all-stock deal valued at $59.5 billion.

Persons: Brendan McDermid, Fed's Bowman, Michelle Bowman, Christopher Waller, Raphael Bostic, Susan Collins, Mark Haefele, Birkenstock, Tim Wentworth, Piper Sandler, Drugmaker Eli Lilly, LLY.N, Novo, Shashwat Chauhan, Ankika Biswas, Arun Koyyur, Shounak Organizations: New York Stock Exchange, REUTERS, Companies, Fed's Bowman Exxon, Futures, Dow, Nasdaq, Treasury, Federal, Labor Department, Atlanta Fed, Boston Fed, UBS Global Wealth Management, Traders, Microsoft, Nvidia, Palestinian, Hamas, Dow e, Walgreens Boots Alliance, Arista Networks, Exxon Mobil, Natural Resources, Novo Nordisk's, Baxter International, Thomson Locations: New York City, U.S, Gaza, Thursday's, Middle East, Israel, Bengaluru

☆ Why we're unloading our Pioneer stake before the deal with Exxon Mobil closes
▼ + stars: | 2023-10-11 | by ( Zev Fima | ) www.cnbc.com time to read: +3 min

Today's question: Why would we not stay in Pioneer [until a deal with Exxon closes] to receive $253 per share? First, the official announcement on Wednesday from Exxon Mobil (XOM) that it is acquiring Pioneer Natural Resources (PXD) specifies this will be an all-stock deal. In this case, the deal is that Pioneer shareholders will receive 2.3234 shares of ExxonMobil for each Pioneer share at closing. Rather, it's 2.3234 times the current price of Exxon shares. Pioneer shares are now subject to the trading action in ExxonMobil.

Persons: Jim Cramer, Duke, Jeff Marks, we're, Jim Cramer's, Jim, Bridgett Bennett Organizations: Exxon, Exxon Mobil, Natural Resources, ExxonMobil, Street Journal, Pioneer, Jim Cramer's Charitable, CNBC, Bloomberg, Getty Locations: Las Vegas

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