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☆ What tie-ups in the U.S. oil patch could mean for players like Coterra Energy
▼ + stars: | 2023-10-19 | by ( Kevin Stankiewicz | In Kevinstankiewicz | ) www.cnbc.com time to read: +6 min

While we don't own companies as mergers-and-acquisition plays, the potential for more tie-ups could have significant implications for our remaining oil name: Coterra Energy (CTRA). Chevron's market cap is around $324 billion, while ConocoPhillips is worth roughly $152 billion, based on Thursday's stock prices. Companies in this basket could include Coterra, Devon Energy (DVN) and Diamondback Energy (FANG). Coterra is valued at roughly $22.4 billion Thursday, while Devon and Diamondback are valued at $31.7 billion and $30.5 billion, respectively. The shift has generally been positive for the stock prices of oil companies.

Persons: Gabriele Sorbara, Siebert Williams Shank, Nitin Kumar, I'm, Kumar, Pioneer's, Devon, Paul Cheng, Cheng, Jim Cramer's, Mizuho's Kumar, Jim Cramer, Jim, Paul Ratje Organizations: Exxon Mobil, Natural Resources, Coterra Energy, Exxon, Co, Chevron, ConocoPhillips, Mizuho Securities, Companies, Devon Energy, Diamondback Energy, Marathon, Bloomberg, Scotiabank, Pioneer, Jim Cramer's Charitable Trust, CNBC, Afp, Getty Locations: U.S, West Texas, New Mexico, Coterra, Devon, Oklahoma, Houston

☆ Higher rates may not threaten these stocks that generate cash and have low debt
▼ + stars: | 2023-10-19 | by ( Brian Evans | ) www.cnbc.com time to read: +3 min

The country's largest energy producer Exxon Mobil also made the list, with a free operating cash flow three-year CAGR of nearly 100%. Exxon Mobil also maintains a nearly 21% debt-to-equity ratio. Average consensus analyst forecasts imply more than 13% further upside for Exxon Mobil stock from Thursday's $112.95 close. Exxon Mobil last week agreed to buy Permian Basin driller Pioneer Natural Resources in an all-stock deal for $60 billion, the largest merger and acquisition of 2023. Chipmaker Advanced Micro Devices touts a 4.4% debt-to-equity ratio and a roughly 4% debt-to-asset ratio.

Persons: Jerome Powell, Salesforce Organizations: Treasury, Federal Reserve, Economic, of New, CNBC, Exxon Mobil, ExxonMobil, Natural Resources, AMD Locations: of New York

☆ Exxon Mobil’s Pioneer Deal Is a Direct Threat to Democracy - The New York Times
▼ + stars: | 2023-10-18 | by ( Jeff D. Colgan | ) www.nytimes.com time to read: +2 min

The cumulative effect of it all on democracy would be so significant that regulators ought to be paying close attention. The Pioneer deal not only seems to be a huge bet to take advantage of that expected failure; it is also a commitment to contribute to the failure. Larger, consolidated oil companies have incentives to restrain production, restricting supply to artificially sustain high prices. Higher oil prices would mean higher gasoline prices at the pump — a classic antitrust concern. Her legal team could make a case built around the potential harm the deal would do to competition in the oil market.

Persons: Lina Khan’s Organizations: Exxon, Federal Trade Commission, Pioneer Locations: Paris, Texas

Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., September 26, 2023. On the earnings front, consumer goods maker Procter & Gamble (PG.N) edged up 0.2% after its quarterly sales topped market expectations. EV maker Tesla (TSLA.O) and streaming services company Netflix (NFLX.O) are scheduled to report quarterly results after market close. ET, Dow e-minis were down 93 points, or 0.27%, S&P 500 e-minis were down 18.5 points, or 0.42%, and Nasdaq 100 e-minis were down 88.25 points, or 0.58%. Travelers Companies (TRV.N) reported a 14% fall in quarterly profit.

Persons: Brendan McDermid, Joe Biden, Morgan Stanley, New York's John Williams, Governors Christopher Waller, Michelle Bowman, Jerome Powell's, Powell, Patrick Harker, Neel Kashkari, Ankika Biswas, Shashwat Chauhan, Arun Koyyur, Vinay Dwivedi Organizations: New York Stock Exchange, REUTERS, United Airlines, Dow, Nasdaq, U.S, Chevron, Exxon Mobil, Occidental Petroleum, Treasury, Procter, Gamble, Abbott Laboratories, Tesla, Netflix, Federal Reserve, Governors, Generale, Philadelphia Fed, Wall Street Journal, Minneapolis, Dow e, Nvidia, Biden, China . United Airlines Holdings, Rivals American Airlines, Delta Air Lines, Interactive, Travelers Companies, Thomson Locations: New York City, U.S, United, Gaza, Israel, New, China, Bengaluru

☆ Iran’s Call for Oil Embargo on Israel Roils Markets
▼ + stars: | 2023-10-18 | by ( Stanley Reed | More About Stanley Reed | ) www.nytimes.com time to read: 1 min

The prospect of an oil embargo arising from the conflict between Israel and militant groups contributed to a sharp but brief jolt in oil prices on Wednesday. Iran’s foreign minister, Hossein Amir-Abdollahian, called for Islamic countries to boycott Israel, including stopping oil shipments, according to Iranian media. He was speaking at a meeting of the Organization of Islamic Cooperation in Jeddah, Saudi Arabia. Although Israel imports nearly all its oil, analysts said that such an embargo would probably have little immediate impact, because the country does not buy oil from major Persian Gulf producers like Saudi Arabia and the United Arab Emirates or Iran. Instead, Kazakhstan, where oil is mostly produced by joint ventures involving Western companies including Chevron and Exxon Mobil, and Azerbaijan are among Israel’s biggest suppliers.

Persons: Hossein Amir Organizations: Israel, of Islamic Cooperation, United Arab, Chevron, Exxon Mobil Locations: Israel, Jeddah, Saudi Arabia, Gulf, United Arab Emirates, Iran, Kazakhstan, Azerbaijan, Nigeria

☆ California lawmakers urge SEC to follow their lead in climate disclosure requirements
▼ + stars: | 2023-10-17 | by ( Catherine Clifford | In Catclifford | ) www.cnbc.com time to read: +3 min

The law requires large businesses to report their scope 1, 2 and 3 emissions. Scope 1 emissions are those generated by fuel sources that a business owns, such as boilers, furnaces and vehicles. Scope 2 emissions are greenhouse gasses emitted to generate the electricity, steam, heat or cooling a business purchases. But the California lawmakers "strongly urge" the SEC "to follow California's lead and specifically include Scope 3 disclosure requirements in addition to Scope 1 and 2," they said in a letter dated Thursday. Also, the California lawmakers say that because California has passed SB 253 requiring large businesses in the state to report their Scope 3 emissions, the cost for California businesses to submit the same data to federal regulators is negligible.

Persons: Gary Gensler, Gavin Newsom, Gensler, We're, — Organizations: . Securities, Exchange, Financial, Capitol, Washington , D.C, California Democratic, U.S . Securities, Exchange Commission, SEC, Exxon Mobil, Walmart, National Cattlemen's Beef Association, National Cotton Council, Wisconsin Pork Association, CNBC, U.S . House, Financial Services Locations: Washington ,, California

☆ Our top 5 stocks of October so far as Wall Street rebounds from a September slump
▼ + stars: | 2023-10-17 | by ( Kevin Stankiewicz | In Kevinstankiewicz | ) www.cnbc.com time to read: +6 min

After a rough September, October has so far been much more kind to stocks and has helped Wall Street cut into some of its third-quarter losses . FL mountain 2023-09-29 Foot Locker's stock performance so far in October. LLY mountain 2023-09-29 Eli Lilly's stock performance so far in October. PANW mountain 2023-09-29 Palo Alto's stock performance so far in October. HUM mountain 2023-09-29 Humana's stock performance so far in October.

Persons: Dow, Locker, Foot, Jim Cramer, Eli Lilly's, Eli Lilly, Jim Cramer's, Jim, Angela Weiss Organizations: Dow Jones, Nasdaq, Nike, Novo Nordisk, Palo Alto Networks, Nvidia, Johnson Controls, Palo Alto, Coterra Energy, Exxon Mobil, Club, Natural Resources, Humana, UnitedHealth, CNBC, New York Stock Exchange, Wall, AFP, Getty Locations: Alto, Israel, U.S, New York City

☆ Here are Tuesday's biggest analyst calls: Apple, Tesla, Dollar Tree, Amazon, Alphabet, Toll Brothers and more
▼ + stars: | 2023-10-17 | by ( Michael Bloom | ) www.cnbc.com time to read: +6 min

Here are Tuesday's biggest calls on Wall Street: Wells Fargo upgrades Air Products to overweight from equal weight Wells Fargo said it sees robust earnings growth. JPMorgan reiterates Alphabet as overweight JPMorgan said it's standing by its overweight rating heading into earnings next week. " JPMorgan upgrades Viasat to overweight from neutral JPMorgan said it sees an attractive entry point for the satellite company. " JPMorgan upgrades CyberArk to overweight from neutral JPMorgan said it sees "accelerating demand" for the cyber company. JPMorgan initiates Teck Resources as overweight JPMorgan said the metals and mining company is its preferred play. "

Persons: Wells Fargo, GOOGL, Wells, Horton, Stifel, Raymond James, Lam, Tesla, MBLY, Goldman Sachs, Bernstein, Morgan Stanley, Hannon, JPMorgan Organizations: Air Products, JPMorgan, Homebuilding, MAS, FERG, UW, Lam Research, Materials, Microsoft, Viasat, Citi, Exxon Mobil, Hannon Armstrong Sustainable Infrastructure Capital, Bank of America, Apple, of America, Pro, Teck Resources Locations: Wells, LEN, China, HASI

☆ Exclusive: Natgas producer Chesapeake explores buying Southwestern Energy -sources
▼ + stars: | 2023-10-17 | by ( David French | ) www.reuters.com time to read: +3 min

A 3D printed oil barrels and oil pump jack are seen in front of displayed Chesapeake Energy logo in this illustration taken January 25, 2022. REUTERS/Dado Ruvic/Illustration Acquire Licensing RightsOct 17 (Reuters) - U.S. natural gas producer Chesapeake Energy Corp (CHK.O) has approached Southwestern Energy (SWN.N), a peer valued by the stock market at $12 billion including debt, about a potential acquisition, people familiar with the matter said. Since then, Chesapeake has been shedding oil-producing assets to focus on its competence in natural gas. U.S. natural gas prices have been sluggish in recent months, as oversupply and warmer weather erode producers' profitability. Some analysts expect prices to go up in the next few months, as a pick-up in U.S. natural gas exports creates more domestic scarcity.

Persons: Dado Ruvic, Chesapeake's, David French, Greg Roumeliotis, David Gregorio Our Organizations: Chesapeake Energy, REUTERS, Chesapeake Energy Corp, Southwestern Energy, EQT Corp, Southwestern, Chesapeake, Exxon Mobil Corp, Natural Resources, Thomson Locations: U.S, New York, Chesapeake, Southwestern, Louisiana, West Virginia, Pennsylvania

☆ After ringing the register on Pioneer, we're looking to another oil player
▼ + stars: | 2023-10-16 | by ( Jeff Marks | ) www.cnbc.com time to read: +2 min

Every weekday the CNBC Investing Club with Jim Cramer holds a Morning Meeting livestream at 10:20 a.m. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB.

Persons: Jim Cramer, Wells, Jerome Powell, there's, Piper Sandler, Jim Cramer's, Jim Organizations: CNBC, Nasdaq, Bank, Club, Treasury, Federal, West Texas, Natural Resources, Exxon Mobil, Exxon, Coterra Energy, Microsoft Locations: pullbacks

After college, Sheffield worked for Amoco Corp and later joined his father-in-law's oil company and became CEO five years later. That company would become Pioneer Natural Resources. On his return, he made Permian oil its sole focus: putting natural gas processing, oilfield services and South Texas shale assets on the block. He also embraced an emerging philosophy that emphasized shareholder returns over rapid production gains, rejecting a plan to more than quadruple Pioneer's oil production by 2026. Two of Sheffield's most significant insights were the major role technology would play in reshaping U.S. oil production and the recognition that big oil companies would eventually control the Permian, he said.

Persons: Scott Sheffield, Eduardo Munoz, Texas oilman Scott Sheffield, Dan Pickering, Sheffield's, Bryan Sheffield, Scott, Boone, Daniel Yergin, Sheffield, Darren Woods, he's, Doug Sheridan, He's, Bruce Vincent, Bryan, Arathy Somasekhar, Gary McWilliams, Marguerita Choy Organizations: Natural Resources Company, REUTERS, Rights, Natural Resources, Sheffield, Exxon Mobil, Pickering Energy Partners, SCHOOL Oil, Atlantic Richfield Co, Tehran school's American, Formentera Partners, Amoco Corp, Energy, Exxon, DoublePoint Energy, EnergyPoint Research, Swift Energy, Thomson Locations: New York, Texas, U.S, TEHRAN, Atlantic Richfield, Iran, Tehran, West Texas, Boone Pickens, South Texas, Sheffield, Houston

☆ We're exiting an oil stock, taking profits after a blockbuster buyout announcement
▼ + stars: | 2023-10-16 | by ( Jeff Marks | ) www.cnbc.com time to read: +2 min

We are exiting our position in Pioneer Natural Resources (PXD), selling 300 shares at roughly $249.34 each. Following Monday's trade, Jim Cramer's Charitable Trust will no longer own a position in PXD. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB.

Persons: Jim Cramer's, there's, Jim Cramer, Jim, Spencer Platt Organizations: Natural Resources, Exxon Mobil, Exxon, Coterra Energy, CNBC, New York Stock Exchange, Getty Locations: PXD, New York City

☆ US oil is back, and ExxonMobil's $60 billion deal isn't even the biggest signal
▼ + stars: | 2023-10-15 | by ( Tim Mullaney | ) www.cnbc.com time to read: +8 min

The news came a day after a $60 billion deal between Exxon Mobil and independent oil producer Pioneer Natural Resources . Monthly production topped out at 13 million barrels per day in November 2019 and hit 9.9 million by February 2021. And offshore oil drilling in the Gulf of Mexico recovered to 2 million barrels a day, but hasn't grown. Where oil companies have been spending their money U.S. oil companies cut capital spending to $106.6 billion last year from $199.7 billion in 2014, according to Statista, contributing to the decline in oil production and arguably delaying the recovery. According to Energy Department data, oil and gas companies paid out about $75 billion per quarter in the last year.

Persons: Brittany Sowacke, Rob Thummel, hasn't, what's, Thummel, Alexandre Ramos, Jay Hatfield, doesn't, Baker, Hughes, Darren Woods, Woods, Hatfield, Ramos, Peon, aren't Organizations: Bloomberg, Getty, Energy, U.S . Department of Energy, Exxon Mobil, Natural Resources, Wall, Exxon, Big Oil, America, Rystad Energy, Oil, Infrastructure Capital Advisors, Energy Department, Pioneer, CNBC, Chevron, PDC Energy, Noble Energy, Independent, Global, ExxonMobil, OPEC, Iran Locations: Midland , Texas, Brittany, Kansas City, Mo, U.S, Oklahoma, North Dakota, Alaska, Gulf, Mexico, Texas, New Mexico, Colorado, New York, American, Hatfield, Israel, Iran

☆ Here are 3 things to watch in the stock market after a very difficult week
▼ + stars: | 2023-10-14 | by ( Matthew J. Belvedere | ) www.cnbc.com time to read: +10 min

MS YTD mountain Morgan Stanley YTD We certainly hope Morgan Stanley's numbers are as good as Friday's report from our other bank holding Wells Fargo (WFC). Morgan Stanley is expected to grow revenue by more than 2% year over year to $13.2 billion in the third quarter. During a recent conference, Morgan Stanley executives said that capital markets will likely improve in 2024. Shares of Morgan Stanley have struggled this year, dropping more than 8% compared to the S & P 500's nearly 13% advance in 2023. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio.

Persons: Stocks, WTI, Jerome Powell's, There's, Patrick Harker, John Williams, Harker, Austan Goolsbee, Lorie Logan, Powell, Christopher Waller, Philip Jefferson, Waller, Jefferson, – Morgan Stanley, Gamble –, Morgan Stanley YTD, Morgan, Jim Cramer, Morgan Stanley, there's, Gamble, Jim, we'll, Charles Schwab, Goldman Sachs, Johnson, Philip Morris, — CNBC's Zev Fima, Jim Cramer's, Spencer Platt Organizations: Nasdaq, Dow, Columbus Day, West Texas, Federal Reserve, Club, Fed, Market, Philadelphia Fed, New York Fed, Chicago Fed, Dallas Fed, United Auto Workers, General Motors, Chrysler, Ford, National Association of Realtors, Procter, Procter & Gamble, Natural Resources, Exxon Mobil, Coterra Energy, of America, United Airlines, Gamble, Housing, Netflix, Alcoa, American Airlines, Taiwan Semiconductor Manufacturing Company, Alaska Air, CSX, American Express, Jim Cramer's Charitable, CNBC, New York Stock Exchange, Getty Locations: Israel, U.S, New, Wells, KBW, Silicon, Manhattan, New York City

REUTERS/Brendan McDermid/File Photo Acquire Licensing RightsSummaryCompanies Wells Fargo gains as Q3 profit risesJPMorgan Q3 profit rises on interest income boostBlackRock reports Q3 profit growthUnitedHealth gains on Q3 profit beatFutures: Dow flat, S&P down 0.18%, Nasdaq down 0.43%Oct 13 (Reuters) - Futures tracking Wall Street's main indexes fell on Friday as investors assessed earnings from big U.S. banks, while Treasury yields eased following a spike in the previous session. JPMorgan Chase(JPM.N), the biggest U.S. bank, posted a jump in third-quarter profit as higher interest rates boosted its income from loans. BlackRock (BLK.N) reported a 13% rise in third-quarter profit on a rebound in markets. UnitedHealth (UNH.N) advanced 2.5% after beating third-quarter profit estimates, helped by lower-than-expected medical costs for the healthcare conglomerate. Traders put the chance of interest rates remaining unchanged in November and December at around 92% and around 69%, respectively, according to CME's FedWatch tool.

Persons: Brendan McDermid, JPMorgan Chase, Wells Fargo, Rob Swanke, Patrick Harker, Susan Collins, Todd Vasos, Jeffery Owen, Shashwat Chauhan, Ankika Biswas, Saumyadeb Organizations: New York Stock Exchange, REUTERS, Companies Wells, JPMorgan, BlackRock, Dow, Nasdaq, U.S, Citigroup, Commonwealth Financial Network, Fed Bank of Philadelphia, Federal Reserve Bank of Boston, Traders, University of Michigan's, Dow e, Investors, Hamas, Exxon Mobil, Chevron, Callon Petroleum, Occidental Petroleum, Dollar, Boeing, Thomson Locations: New York City, U.S, BLK.N, Israel, Gaza City, Bengaluru

☆ Oil consolidation makes sense to 'continue to lower the cost of production': Tortoise's Rob Thummel
▼ + stars: | 2023-10-13 | 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 EmailOil consolidation makes sense to 'continue to lower the cost of production': Tortoise's Rob ThummelRob Thummel, Tortoise senior portfolio manager, joins 'Squawk Box' to discuss Exxon Mobil's acquisition of Pioneer Natural Resources, why the deal could open the door for more consolidation in the oil and gas sector, and more.

Persons: Rob Thummel Rob Thummel Organizations: Tortoise, Exxon, Natural Resources

☆ Why the hydrogen tax credit has become a lightning rod for controversy
▼ + stars: | 2023-10-13 | by ( Catherine Clifford | In Catclifford | ) www.cnbc.com time to read: +16 min

The proposed tax credit, 45V, is meant to turbocharge the production of low-emissions hydrogen. "The IRA's section 45V production tax credit is the most generous clean hydrogen subsidy in the world," Jesse Jenkins, professor of macro-scale energy systems at Princeton University, told CNBC. John Macdougall | Afp | Getty ImagesThe adjudication of the hydrogen tax credit has become about more than just the hydrogen tax credit, too. The amount of the hydrogen tax credit, which is available for 10 years, depends on the emissions generated in making hydrogen. If hydrogen is produced without releasing any carbon emissions, the tax credit is maxed out at $3 per kilogram of hydrogen.

Persons: that's, It's, Jesse Jenkins, John Macdougall, Wilson Ricks, Jenkins, Ricks, Rachel Fakhry, electrolyzers, Andriy Onufriyenko, Eric Guter, Josef Kallo, H2FLY, Guter, Phil Musser, Shannon Angielski, Angielski, Shi, Fakhry Organizations: Istock, Treasury, Princeton University, CNBC, Daimler Truck Holding, Afp, Getty, Energy, Research, Princeton, Natural Resources Defense Council, Power, Singularity, Air Products, Bloomberg, Air, Products, Hydrogen Company, European, EU, NextEra Energy, Hydrogen Future Coalition, BP, Duke Energy, Exxon Mobile, General Electric, Siemens Energy, American, Shell, Hydrogen, Coalition Locations: Biden's, United States, U.S, Berlin, additionality, Maribor, Slovenia, Oxagon, Saudi Arabia, Wilbarger County , Texas

☆ Why Jim Cramer thinks the stock market is now 'bifurcated'
▼ + stars: | 2023-10-13 | by ( Jeff Marks | ) www.cnbc.com time to read: +3 min

Every weekday the CNBC Investing Club with Jim Cramer holds a Morning Meeting livestream at 10:20 a.m. Jim Cramer said that the market is now bifurcated, with bank stocks going higher on the back of strong earnings and Big Tech coming under pressure. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB.

Persons: Jim Cramer, Jim, Exxon Mobil's, Wells, Charlie Scharf's, Sartorius, preannounced, TD Cowen, Jim Cramer's Organizations: CNBC, Nasdaq, Big Tech, Treasury, West Texas, Natural Resources, Exxon, Club, WFC Locations: Wells Fargo

☆ Stocks making the biggest moves midday: Boeing, Dollar General, JPMorgan Chase, Netflix and more
▼ + stars: | 2023-10-13 | by ( Michelle Fox | ) www.cnbc.com time to read: +4 min

On Friday, Gordon Haskett upgraded the stock to buy , saying Dollar General's latest leadership change could help stabilize the company. Wells Fargo — The bank stock gained close to 3% after Wells Fargo posted third-quarter results that beat expectations. Citigroup — Shares of the New York-based bank rose 1.4% after posting its third-quarter results . Citigroup reported $1.63 in earnings per share, or $1.52 per share, excluding the effect of divestitures. Post Holdings — Shares of the packaged food company gained 2% after JPMorgan initiated coverage with an overweight rating on shares.

Persons: Todd Vasos, Gordon Haskett, JPMorgan Chase, Wells Fargo, LSEG, JD.com, Morgan Stanley, UnitedHealth, CNBC's Hakyung Kim, Samantha Subin, Pia Singh, Tanaya Macheel, Jesse Pound Organizations: Boeing —, Boeing, JPMorgan, Revenue, LSEG, Citigroup —, Citigroup, PNC Financial, PNC, Oil, EOG, ConocoPhillips, Exxon Mobil, Progressive, Post Holdings, Netflix, Wolfe Research, Dow, United Food, Commercial Workers International Union, Hormel Locations: York, China

The stock market got a boost from that drop in longer-term yields, but it also felt a drag from rising shorter-term yields. Yields were mixed after a report showed inflation at the wholesale level was stronger last month than economists expected. Still, with the U.S. government racking up big deficits that require more borrowing, and buyers in shorter supply, the pressure has been mostly upward on Treasury yields. In energy trading, a further pullback in crude oil prices is helping to take some heat off inflation and support Wall Street. Oil prices have given back much of their strong gains from earlier this week, triggered by fighting in Gaza.

Persons: Sydney's, Hang Seng, ” Anderson Alves, ActivTrades, Rubeela Farooqi, ”, Gregory Daco, Brent Organizations: TOKYO, Palestinian, Hamas, Nikkei, U.S, Dow Jones, Nasdaq, Federal Reserve, Treasury, “ Fed, EY, Benchmark, New York Mercantile Exchange, Energy, Exxon Mobil, Natural Resources Locations: Israel, Hong, Shanghai, U.S . Federal, Lebanon, Iran, U.S, Gaza

☆ Truist upgrades Exxon Mobil, cites long-term benefits from Pioneer acquisition
▼ + stars: | 2023-10-12 | by ( Samantha Subin | ) www.cnbc.com time to read: +2 min

Truist is finding a number of positives in Exxon Mobil 's deal to buy Pioneer Natural Resources . "While we forecast moderate near-term incremental earnings/cash flow from Exxon acquiring Pioneer (PXD, Hold), we anticipate more pronounced longer-term benefits in '25+ given the notably more productive proforma US inventory," he wrote. Exxon Mobil announced on Wednesday that it agreed to buy Pioneer Natural Resources at $253 per share in an all-stock deal, or $59.5 billion. Despite the recent share performance, the Wall Street firm sees more upside ahead for Exxon Mobil, upping its price to $131 from $110 a share. XOM 1M mountain Exxon Mobil shares over the last month Dingmann also expects the Pioneer acquisition — and ongoing operating improvements — to keep Exxon Mobil the path toward accomplishing its $9 billion cost savings plans, while leading to new cost tightening over the longer term.

Persons: Neal Dingmann, Dingmann, Michael Bloom Organizations: Exxon Mobil, Natural Resources, Exxon, Pioneer, Mobil

☆ Why Cramer expects mega cap stocks will 'shine' in Thursday trading
▼ + stars: | 2023-10-12 | by ( Jeff Marks | ) www.cnbc.com time to read: +3 min

Every weekday the CNBC Investing Club with Jim Cramer holds a Morning Meeting livestream at 10:20 a.m. "This is one of those days that mega caps are going to shine," Jim Cramer said Thursday. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB.

Persons: Jim Cramer, Dow Jones, Jim, Ford, Jim Cramer's Organizations: CNBC, Nasdaq, Labor, Federal Reserve, Treasury, West Texas, Exxon Mobil, Natural Resources, United Auto Workers, Club, Ford, Bank of America Locations: Kentucky

ExxonMobil and Pioneer Natural Resources logos are seen in this illustration taken, October 6, 2023. After brief informal conversations earlier this year, Exxon approached Pioneer about a deal last month, the sources said. Exxon's shares were hovering near record highs, and it had a cash pile of about $30 billion. Woods had already capitalized on elevated energy prices to streamline Exxon's operations and focus on highly profitable oil and gas production. This allowed Exxon to enter the deal negotiations with its stock coveted by investors as a valuable currency.

Persons: Dado Ruvic, Darren Woods, Scott Sheffield, Woods, Darren, Sheffield, Scott, Sabrina Valle, David French, Anirban Sen, Sonali Paul Organizations: ExxonMobil, Pioneer, REUTERS, HOUSTON, Exxon Mobil Corp's, Natural Resources, Exxon, Sheffield, Thomson Locations: Guyana, Sheffield, Houston, New York

WASHINGTON, Oct 12 (Reuters) - U.S. prosecutors say an Israeli private investigator used hackers to steal emails from climate activists who were campaigning against American energy giant Exxon Mobil Corp (XOM.N). Prosecutors stopped short of stating a connection between the Israeli private eye – former policeman Aviram Azari – and Exxon, and the memo did not identify any of his clients. Victims say that leaves a key question unanswered. Exxon pushed back, filing lawsuits that cited press articles, which suggested the activists were using underhanded tactics. “Azari facilitated the hacking scheme by directing groups of hackers, including a particular group of individuals based in India, to target specific victims,’” prosecutors wrote.

Persons: Damian Williams, parry, Prosecutors, Aviram Azari, Kert Davies, Paul Weiss, Bradley Campbell, Williams, Azari, Barry, “ Azari, ’, Raphael Satter, Christopher Bing, Leslie Adler, Richard Chang Organizations: U.S, Exxon Mobil Corp, Southern, of, Exxon, Climate Integrity, Natural Resources, Conservation Law Foundation, Exxon Mobil, Reuters, Thomson Locations: of New York, New York, Massachusetts, India, United States

☆ Jim Cramer expects Exxon to benefit from megadeal for Pioneer Natural Resources
▼ + stars: | 2023-10-12 | by ( Kevin Stankiewicz | In Kevinstankiewicz | ) www.cnbc.com time to read: +1 min

Truist Securities on Thursday made a "thoughtful" argument in support of Exxon Mobil 's (XOM) decision to acquire Pioneer Natural Resources (PXD), CNBC's Jim Cramer said. The firm expects Exxon to experience long-term benefits from owning Pioneer, including improved well productivity. If you like this story, sign up for Jim Cramer's Top 10 Morning Thoughts on the Market email newsletter for free. Cramer's Charitable Trust, the portfolio used by the CNBC Investing Club, owns Pioneer — but Cramer intends to sell the entire stake in the coming days. He said he wished Exxon paid a larger premium for Pioneer and will redeploy elsewhere the cash raised from the expected sale.

Persons: CNBC's Jim Cramer, Cramer, Jim Cramer's, Exxon, I'm Organizations: Truist Securities, Exxon Mobil, Natural Resources, Truist, Exxon, Cramer's Charitable Trust, CNBC, Club, Coterra Energy Locations: West Texas, New Mexico, Cramer's, Houston

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