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Shares rose Friday during a low-volume session, as investors eagerly awaited the results of their activities in the coming weeks. the Dow Jones Industrial Average (DJINDICES: ^ DJI) and the S & P 500 (SNPINDEX: ^ GSPC) traded in a narrow range and closed with nice gains. The financial situation has climbed following a solid report from JPMorgan Chase; health is the only sector to lose ground.
Stock Market Today
| Index | Percentage variation | Point change |
|---|---|---|
| Dow | 1.03% | 269.25 |
| S & P 500 | 0.66% | 19.09 |
Data source: Yahoo! Finance.
As for individual stocks, Chevron (NYSE: CVX) announced plans to buy Anadarko Petroleum (NYSE: APC) in a massive consolidation of oil and gas producers, and Walt Disney (NYSE: DIS) delighted investors with details about his next streaming service.
Source of the image: Getty Images.
Chevron turns to Anadarko
Chevron surprised Wall Street with an offer to buy $ 50 billion worth of Anadarko Petroleum to strengthen its position in oil production in American shales and the Gulf of Mexico. Shares of Anadarko jumped 32% to $ 61.78 and those of Chevron fell 4.9% to $ 119.76.
The deal is structured in 75% equity and 25% cash, with the oil and gas giant paying $ 16.25 in cash and 0.3869 newly issued Chevron shares for each Anadarko share. This values the stock of Anardarko at $ 62.60, based on the closing prices of the day.
If the transaction gets approval from Anadarko's shareholders, Chevron will strengthen its leadership position in the Permian's fast-growing pool and acquire an attractive acreage in DJ Basin, Colorado. Anadarko also has complementary deepwater wells in the Gulf, liquefied natural gas facilities in Mozambique and a strategic stake in the pipeline operator Western Midstream Partners LP, whose units have climbed 8.4% today.
Businesses expect savings of $ 1 billion in operating costs and $ 1 billion in capital expenditures. The agreement has led to the speculation of a new wave of consolidation in companies in the energy sector, driving up the actions of potential acquisition targets.
Disney + receives an enthusiastic welcome from investors
Disney unveiled yesterday its Disney + streaming service during its investor day. Investors cheered the company and raised the title to 11.5%. The service will cost $ 6.99 per month or $ 69.99 for an annual plan, which would significantly reduce costs. Netflixwhich has recently increased prices.
The service will be launched Nov. 12 with important new original content and offers from Disney's extensive libraries and assets from the Fox Acquisition. In the first year, Disney + will feature 25 original series and 10 original films, documentaries and specials, as well as 7,500 episodes and 500 films from the company's content mine. It will also have 30 seasons of The simpsons Fox available at launch.
Disney expects the service to be profitable by 2024, while it expects that 60 to 90 million subscribers will view its offers of 10,000 episodes and more than 720 movies.
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