Australia  

Celebrating 10 Years of Trusted News Discovery
One News Page
> >

Jim Cramer's Thoughts on Anadarko, Bank Earnings and Disney's Bob Iger

Video Credit: The Street - Duration: 12:00s - Published < > Embed
Jim Cramer's Thoughts on Anadarko, Bank Earnings and Disney's Bob Iger

Jim Cramer's Thoughts on Anadarko, Bank Earnings and Disney's Bob Iger

It's Friday... Here's what Jim Cramer's watching in the markets as the week winds down.

Chevron's Acquisition of Anadarko Chevron said Friday it plans to buy Anadarko Petroleum for $33 billion in cash and stock, reported TheStreet's M.

Corey Goldman.

Chevron said it will pay $65 a share to Anadarko shareholders, who will receive 0.3869 a share of Chevron and $16.25 in cash for each Anadarko share.

The total enterprise value of the transaction is $50 billion.

Shares of Anakdarko surged in premarket trading following the announcement, jumping 30.2% $60.86 on the New York Stock Exchange.

Shares of Chevron went in the opposite direction, falling 4.8% to $120 in premarket trading.

The deal comes amid a rebound in global oil prices, fuelled in large part by bets among investors that OPEC supply cuts, sanctions on Iran and Venezuela and escalating military tensions in Libya will continue to support markets.

Bank Earnings Both JPMorgan Chase and Wells Fargo reported earnings Friday morning, which kicked off bank earnings.

JPMorgan Chase said first-quarter profit rose faster than expected, as the largest U.S. bank used a lower-than-expected tax rate, expense controls and growth in credit-card loans to overcome a slump in bond- and stock-trading, reported TheStreet's Bradley Keoun.

Net income rose by 5% from a year earlier to $9.18 billion, or $2.65 a share, New York-based JPMorgan said Friday in a statement.

Analysts surveyed by FactSet had estimated the figure at $2.35.

JPMorgan was the first big U.S. bank to post results for the quarter, a period in which the U.S. government shut down for 35 days, the longest period in American history, and concerns mounted among many economists that growth is slowing both in the U.S. and globally.

Related.

Jim Cramer: Here's My Earnings Cheat Sheet for the Bank Stocks Disney's Bob Iger Is Stepping Down Disney CEO Bob Iger said he plans to step down at the end of 2021 when his current contract ends.

Iger made the announcement near the conclusion of Disney's investor day presentation devoted to unveiling Disney+.

Iger has been CEO of Disney since 2005.

Related.

Anadarko Deal Rewards Shareholders Betting on the Beleaguered Stock in 2019

0
shares
ShareTweetSavePostSend
 

You Might Like


Recent related videos from verified sources

Jim Cramer on M&A Monday and Raytheon's Merger With United Technology [Video]Jim Cramer on M&A Monday and Raytheon's Merger With United Technology

Happy M&A Monday! Markets Donald Trump announced the "indefinite" suspension of tariffs planned on goods imported from Mexico after reaching an agreement with the Mexican government to tackle illegal..

Credit: The Street     Duration: 10:37Published

What Jim Cramer Liked About Beyond Meat's First Earnings Report [Video]What Jim Cramer Liked About Beyond Meat's First Earnings Report

Curious about Beyond Meat's quarter? Jim Cramer breaks down what he was paying attention to in the earnings report. But, before diving into Cramer's thoughts on the quarter. Here's Beyond's earnings...

Credit: The Street     Duration: 03:24Published

Jim Cramer Weighs In on Salesforce Earnings, Tim Cook's Comments and the Markets [Video]Jim Cramer Weighs In on Salesforce Earnings, Tim Cook's Comments and the Markets

Here's what you need to know about the markets Wednesday. Are the Markets Ready For a Fed Rate Cut? The simple answer? Yes, apparently. The market closed up over 500 points Tuesday and opened in the..

Credit: The Street     Duration: 11:28Published

What's Causing Palo Alto Networks to Sell Off [Video]What's Causing Palo Alto Networks to Sell Off

Security hardware and software firm Palo Alto Networks is trading lower Thursday (May 30) after delivering a mixed set of numbers in its April quarter earnings report. The company beat sales and..

Credit: The Street     Duration: 01:50Published

Bank of America Could Be Hardest-Hit Stock by Fed Stimulus -- ICYMI [Video]Bank of America Could Be Hardest-Hit Stock by Fed Stimulus -- ICYMI

Bank of America could see its earnings per share hit the hardest by Federal Reserve stimulus, analysts at Morgan Stanley wrote in a note. The yield curve inverted this week, with the 3-month treasury..

Credit: The Street     Duration: 02:29Published

Jim Cramer: How Investors Can Protect Themselves From a Tech Cold War [Video]Jim Cramer: How Investors Can Protect Themselves From a Tech Cold War

While we have a reprieve in the Huawei ban for the next 90 days, the possibility of a tech cold war is still looming over our heads. According to The New York Times, the White House is prepared to..

Credit: The Street     Duration: 05:49Published

Jim Cramer Tackles the Tech Cold War With China, Qualcomm and Target [Video]Jim Cramer Tackles the Tech Cold War With China, Qualcomm and Target

It's hump day and it's a busy day in the markets... So, here's what you need to know. Should We Be Worried About a Tech Cold War? While we have a reprieve in the Huawei ban for the next 90 days, the..

Credit: The Street     Duration: 12:32Published

Why Tariffs Shouldn't Worry Walmart Investors [Video]Why Tariffs Shouldn't Worry Walmart Investors

Walmart is Real Money's Stock of the Day after the company announced earnings before the market opened. Jeff Marks, senior portfolio analyst with Jim Cramer's Action Alerts PLUS investing club broke..

Credit: The Street     Duration: 01:21Published

Environmentally friendly: One News Page is hosted on servers powered solely by renewable energy
© 2019 One News Page Ltd. All Rights Reserved.
About us  |  Contact us  |  Disclaimer  |  Press Room  |  Terms & Conditions  |  Content Accreditation
 RSS  |  News for my Website  |  Free news search widget  |  In the News  |  DMCA / Content Removal  |  Privacy & Data Protection Policy
How are we doing? FeedbackSend us your feedback  |   LIKE us on Facebook   FOLLOW us on Twitter  •  FOLLOW us on Pinterest
One News® is a registered trademark of One News Page Ltd.