Anglo American Platinum Ltd (RPHA.SG)
- Yahoo Finance Video
Major energy M&A deals, the market's momentum: Morning Brief
How are the major market averages (^DJI, ^IXIC, ^GSPC) feeling this morning after the Nasdaq's big climb above 17,000 on Tuesday? Yahoo Finance's The Morning Brief is here to help investors start their trading day off right as hosts Seana Smith and Brad Smith walk you through the top stories and market trends. Hess Corp. (HES) shareholders approved the $53 billion buyout deal with Chevron (CVX). In other energy M&A news, ConocoPhillips (COP) is set to acquire Marathon Oil (MRO) in an all-stock deal valued at $17.1 billion. Tortoise Portfolio Manager Rob Thummel told Yahoo Finance that this deal came as a total "surprise." Lastly, platinum miner Anglo American (NGLOY, AAL.L) rejected BHP Group's (BHP) bid to extend their merger deadline. Russell Investments President and Chief Investment Officer Kate El-Hillow sits down with the team in-studio to discuss the market's momentum trade and the strength of this earnings season's fundamentals. This post was written by Luke Carberry Mogan.
- Yahoo Finance Video
Why ConocoPhillips' $17B Marathon Oil deal is 'a surprise'
ConocoPhillips (COP) is set to acquire Marathon Oil (MRO) in an all-stock deal valued at $17.1 billion. Tortoise Portfolio Manager Rob Thummel joins the Morning Brief to explain why this acquisition has come as "a surprise." Thummel commends Marathon Oil's management team, stating that they "have really done a great job of being capital disciplined." This disciplined approach has resulted in a high free cash flow yield, which Thummel believes will be one of the most significant benefits to ConocoPhillips through this acquisition. However, Thummel describes Marathon Oil's actual assets as "good, not great." For more expert insight and the latest market action, click here to watch this full episode of Morning Brief. This post was written by Angel Smith
