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☆ Chevron’s $53 billion deal is risky Exxon copycat
▼ + stars: | 2023-10-23 | by ( Robert Cyran | ) www.reuters.com time to read: +4 min

The $318 billion oil giant said Monday it would buy New York-based Hess (HES.N) for $53 billion in an all-stock deal. The main appeal for Chevron is Hess’s 30% stake in a consortium producing oil offshore in Guyana. Importantly, Chevron is catching up to Exxon, which runs and owns 45% of the same Guyana consortium. Higher production in Guyana after 2024 will increase Chevron’s returns, assuming the price of oil remains favorable. Hess owns a 30% share in a consortium in Guyana alongside Exxon, which owns a 45% interest, and Chinese oil company CNOOC, which owns the remaining 25%.

Persons: Hess, It’s, Mike Wirth, Scott Sheffield, John Hess, Hess’s, Lauren Silva Laughlin, Aditya Sriwatsav Organizations: Reuters, Chevron, Exxon Mobil, New York Stock Exchange, Natural Resources, drillers, Brent, Exxon, Pioneer, Exxon Mobil’s, Thomson Locations: New York, Texas, Guyana, Gulf of Mexico

☆ Chevron agrees to buy Hess for $53 billion. Here's how to invest in the deal
▼ + stars: | 2023-10-23 | by ( Christina Falso | ) www.cnbc.com time to read: +1 min

Market Movers rounded up the latest reactions to Chevron 's stock moves from the pros, including Jim Cramer , as another mega-merger in the energy sector was announced Monday. Chevron is acquiring Hess for $53 billion and the deal comes just under two weeks after Exxon Mobil bought Pioneer Natural Resources for $59.5 billion. Chevron CEO Mike Wirth and Hess CEO John Hess joined CNBC on Monday morning to discuss the all-stock, $171 per share transaction and what it will mean for investors. Chevron is acquiring Hess for $53 billion and the deal comes just under two weeks after Exxon Mobil bought Pioneer Natural Resources for $59.5 billion. Chevron CEO Mike Wirth and Hess CEO John Hess joined CNBC on Monday morning to discuss the all-stock, $171 per share transaction and what it will mean for investors.

Persons: Jim Cramer, Hess, Mike Wirth, John Hess Organizations: Chevron, Exxon Mobil, Natural Resources, CNBC, Movers Locations: Chevron

☆ Chevron to buy Hess Corp for $53 billion in all-stock deal
▼ + stars: | 2023-10-23 | by ( ) www.reuters.com time to read: +2 min

Chevron has offered 1.025 of its shares for each Hess share held, or $171 per share, implying a premium of about 4.9% to the stock's last close. Chevron's shares were trading 3% lower premarket. Exxon and partners Hess and China's CNOOC (0883.HK) are the only active oil producers in the country. Hess Corp CEO John Hess is expected to join Chevron's board of directors once the deal closes around the first half of 2024. Goldman Sachs was the lead adviser to Hess while Morgan Stanley was the lead adviser to Chevron.

Persons: Liz Hampton, Hess, China's CNOOC, John Hess, Chevron, Goldman Sachs, Morgan Stanley, Mrinalika Roy, Nivedita Bhattacharjee Organizations: REUTERS, Chevron, U.S, Exxon Mobil, Natural Resources, Exxon, RBC, Pioneer, HK, Hess Corp, Thomson Locations: Chevron, Kersey , Colorado, U.S, Guyana, American, Brazil, Mexico, Bengaluru

NEW YORK (AP) — Chevron is buying Hess Corp. for $53 billion and it’s not even the biggest acquisition in the energy sector this month as major producers seize the initiative while oil prices surge. Chevron said Monday that the acquisition of Hess adds a major oil field in Guyana as well as shale properties in the Bakken Formation in North Dakota. Hess shareholders will receive 1.0250 shares of Chevron for each Hess share. The boards of both companies have approved the Hess deal, which is targeted to close in the first half of next year. Shares of Chevron Corp., based in San, Ramon, California, declined more than 3% before the opening bell Monday.

Persons: Hess, China’s CNOOC, John Hess Organizations: Chevron, Hess Corp, Exxon Mobil, Natural Resources, China’s, Hess, Chevron Corp Locations: Russia, Ukraine, Guyana, North Dakota, American, Qatar, United States, Mexico, Norway, South America, Australia, San, Ramon , California, New York City

Speculation that Chevron and Exxon might try to buy rivals BP (BP.L) and Shell (SHEL.L) intensified over the last two years as the European majors underperformed their U.S. rivals. Investors punished the European companies for their pivot towards renewables and low carbon energy while rewarding the U.S. companies' focus on oil and gas production that drove record profits last year. The oil industry last went through an era of major consolidation in the late 1990s when Exxon, Shell, BP and France's TotalEnergies merged with rivals to create huge integrated companies. A senior industry source close to the issue, as well as analysts and investors dismissed any imminent U.S. purchase of European rivals. Some European investors have also campaigned for energy companies to shift their business models to help tackle climate change.

Persons: Hess, Dado Ruvic, Tyler Tebbs, Bernard Looney, Lucas Herrmann, Shell's, Exxon's, Ron Bousso, Simon Webb, Barbara Lewis Organizations: REUTERS, Chevron, Hess, LONDON, Exxon Mobil, Exxon, BP, Shell, Investors, France's, Natural Resources, MKP Advisors, BNP, Reuters, European, Thomson Locations: Ukraine, Chevron, U.S

☆ Stocks making the biggest moves midday: Chevron, Okta, Walgreens, Spirit AeroSystems and more
▼ + stars: | 2023-10-23 | by ( Hakyung Kim | ) www.cnbc.com time to read: +3 min

Chevron — Chevron shares fell 3% after the energy giant agreed to buy Hess in a $53 billion all-stock deal , or $171 per share. Walgreens Boots Alliance — Shares popped 5.4% on Monday after JPMorgan upgraded shares to overweight from neutral and raised its price target. Beauty — Shares added 5% after Raymond James upgraded shares to strong buy from outperform in a Monday note. Spirit AeroSystems — The aerospace company's shares gained 4.8% after Bernstein raised its rating on shares to outperform from market perform. FMC Corp — The insecticide company's shares tumbled 12% after FMC issued third-quarter guidance that's lower than what it originally called for.

Persons: Hess, Okta, Pinterest, Raymond James, Olivia Tong, Tong, Bernstein, Pat Shanahan, EngageSmart, Stonepeak, CNBC's Pia Singh, Samantha Subin, Alex Harring, Sarah Min Organizations: Chevron — Chevron, Chevron, Exxon Mobil, Natural Resources, Citi, Evercore, Stifel, Walgreens, JPMorgan, Vista Equity Partners, Textainer, Clean Holdings, FMC Corp, FMC Locations: Guyana, U.S, America

☆ VIEW Chevron to buy Hess Corp for $53 bln in all-stock deal
▼ + stars: | 2023-10-23 | by ( ) www.reuters.com time to read: +4 min

A 3D printed natural gas pipeline is placed in front of displayed Chevron logo in this illustration taken Feb. 8, 2022. The transaction might also create a peculiar coexistence of the United States' two leading oil majors in Guyana... Hess is geared towards crude production, with oil accounting for 60% of its current output which fits in very nicely with Chevron's similarly oil-focused portfolio. On the deal itself, the Chevron-Hess merger is expected to have a significant impact on the shale oil industry with Chevron becoming the second-largest shale producer in the United States. The merger is also likely to lead to increased M&A and industry consolidation in the North America shale sector.

Persons: Dado Ruvic, bode, Hess, John Hess, PETER MCNALLY, VIKTOR KATONA, KPLER Hess, Chevron, ROBIN HELANDER, Seher Dareen, Ron Bousso, Dmitry Zhdannikov, Mark Potter Organizations: Chevron, REUTERS, Chevron Corp, Hess Corp, Exxon Mobil, ROYAL, Third, Natural Resources, Hess, Thomson, & $ Locations: Guyana, Chevron, North Dakota, United States, North America

☆ Chevron to Acquire Hess for $53 Billion in Latest Major Oil Deal
▼ + stars: | 2023-10-23 | by ( Stanley Reed | More About Stanley Reed | ) www.nytimes.com time to read: +1 min

Chevron, the U.S. energy giant, said Monday that it had agreed to acquire Hess, a medium-sized rival, in an all-stock deal valued at $53 billion. The deal marks a further consolidation of the energy industry, especially in the United States, where smaller companies appear to be taking advantage of relatively high oil prices to join forces with bigger players. The transaction follows Exxon Mobil’s $60 billion purchase of shale driller Pioneer Natural Resources earlier this month, another sign of confidence among large industry players in the future of fossil fuels even as policymakers promote cleaner energy sources. Hess would add about 10 percent to Chevron’s overall oil and gas production of about 3 million barrels a day. Mike Wirth, Chevron’s chairman and chief executive, said in a statement that the deal enhances the company’s operations “by adding world-class assets.”

Persons: Hess, Mike Wirth Organizations: Chevron, Exxon Mobil’s, Resources, Chevron’s Locations: U.S, United States

Meanwhile, Meta has struggled with applying its content policies fairly across its platforms, including Facebook and Instagram, according to The Wall Street Journal. Experts say companies often find themselves out of their depth in talking about the knotty topic and that sometimes there’s little benefit to rushing out a statement. Some companies, especially those without operations in the Middle East, have chosen not to speak. In related news: How diplomats from the U.S., Qatar and elsewhere helped free two Americans taken hostage by Hamas. The two were far apart earlier this month on issues including streaming payouts and the use of artificial intelligence.

Persons: Dave Chappelle sparred, driller, Hess Organizations: U.S, Social, Israel, Meta, Facebook, Wall Street, ” Employers, Corporate, Web, Creative Artists Agency, Hamas, Exxon Mobil’s, Natural Resources, Republicans, SAG, . Tax, Big Tech Four, Microsoft, Apple, Nvidia, Nasdaq Locations: Israel, Gaza, U.S, Qatar, Ukraine, Chevron’s, Guyana, Texas, New Mexico

☆ Morning Bid: Markets juggle 5% yields and 150 yen
▼ + stars: | 2023-10-23 | by ( ) www.reuters.com time to read: +5 min

Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., September 11, 2023. REUTERS/Brendan McDermid/File Photo Acquire Licensing RightsA look at the day ahead in U.S. and global markets from Mike DolanPartly unwinding pre-weekend safety hedges related to the Middle East conflict, world markets are back focused on some critical macro priced levels and milestones that may once again define the week. The dollar retained its bid as a result and continued to probe the 150 yen level many suspect the Bank of Japan will be keen to protect against with open-market yen buying. But even these megacaps are still in thrall to the worrying squeeze in U.S. bond markets and the breach of the 5% threshold on 10-year tenors on Monday. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

Persons: Brendan McDermid, Mike Dolan, Goldman Sachs, thrall, that's, That's, Sergio Massa, Javier Milei, Maria Corina Machado, Hess, Berkley, Brown, Susan Fenton Organizations: New York Stock Exchange, REUTERS, Bank of Japan, European Central Bank, Industrial, China, Goldman, Microsoft, Meta, Federal Reserve, Economy, Banco BBVA Argentina, Peronist, Massa, Venezuelan, Chevron, Exxon, Natural Resources, Brown, Cadence, Packaging Corp of America, Fed, Bank of Israel, Trade Organization, Treasury, Reuters, Thomson Locations: New York City, U.S, Gaza, China, Taiwan, outflows, 50bps, York, America, Venezuela, Geneva

☆ Jim Cramer says there is a bull market in oil and gas thanks to recent big mergers
▼ + stars: | 2023-10-23 | by ( Julie Coleman | ) www.cnbc.com time to read: +1 min

CNBC's Jim Cramer on Monday said he sees a bull market in oil and gas. He said oil stocks are increasing in value thanks to two major oil company mergers as well as the rising price of crude. "I'd argue that there's always a bull market somewhere and right now it's in the oil and gas cohort group," Cramer said. Chevron announced Monday it would buy Hess in a deal worth $53 billion. These recent mergers reminded Cramer of oil takeovers in the early 1980s, when he said major companies realized "it was cheaper to drill for oil on Wall Street than in the ground."

Persons: CNBC's Jim Cramer, there's, Cramer, Hess Organizations: Chevron, Exxon Mobil, Natural Resources

☆ Chevron to buy Hess Corp for $53 billion in second oil mega-merger in weeks
▼ + stars: | 2023-10-23 | by ( ) www.cnbc.com time to read: +2 min

Chevron said on Monday it agreed to buy Hess for $53 billion in stock, the second proposed mega-merger among the biggest U.S. oil players after Exxon Mobil bid $60 billion for Pioneer Natural Resources earlier this month. Chevron has offered 1.025 of its shares for each Hess share held, or $171 per share, implying a premium of about 4.9% to the stock's last close. Exxon and partners Hess and China's CNOOC are the only active oil producers in the country. Hess Corp CEO John Hess is expected to join Chevron's board of directors once the deal closes around the first half of 2024. Goldman Sachs was the lead adviser to Hess while Morgan Stanley was the lead adviser to Chevron.

Persons: Hess, China's, John Hess, Chevron, Goldman Sachs, Morgan Stanley Organizations: Chevron, U.S, Exxon Mobil, Natural Resources, Exxon, RBC, Pioneer, Hess Corp Locations: U.S, Guyana, Brazil, Mexico

☆ Fracking Pioneer Cashes in as Twilight Sets in the Shale Patch
▼ + stars: | 2023-10-19 | by ( Benoît Morenne | ) www.wsj.com time to read: 1 min

Scott Sheffield transformed Pioneer Natural Resources from a fledgling outfit into one of the largest oil producers in West Texas and, until recently, put no limits on his ambition to grow. But after two weeks of negotiations, he agreed to sell his company for $60 billion to Exxon Mobil last week, the oil giant he had lapped for years in the Permian Basin.

Persons: Scott Sheffield Organizations: Natural Resources, Exxon Mobil Locations: West Texas

☆ 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

☆ 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

☆ 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

☆ 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

☆ 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

☆ 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

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