Replies to post #21502 on The Rising Influence of Rising Affluence

[DewDiligence]

And more on CVX:

https://www.siliconinvestor.com/readmsg.aspx?msgid=32633614

[biotech_researcher]

I tend to agree with Jones, retest the lows.

This is very unfortunate, but I expect we will see people in NYC dying in the streets before they can be treated. Peak virus so to speak. That will mark the low..

Tudor Jones says stocks will be higher in 3 to 5 months https://www.cnbc.com/2020/03/26/paul-tudor-jones-says-stocks-could-retest-lows-as-virus-peaks-but-will-be-higher-in-3-to-5-months.html?

[DewDiligence]

Stating the obvious—oil majors will eventually cut dividends, says ft.com:

https://www.ft.com/content/695be02b-cbc8-4f0f-9d17-968a3fe9b9a2

[DewDiligence]

CVX acquires NBL for $10.38/sh in stock—an 8% premium to Friday’s closing price:

https://finance.yahoo.com/news/chevron-announces-agreement-acquire-noble-103000253.html

Noble Energy brings low-capital, cash-generating offshore assets in Israel, strengthening Chevron’s position in the Eastern Mediterranean. Noble Energy also enhances Chevron’s leading U.S. unconventional position with de-risked acreage in the DJ [Denver-Julesburg] Basin and 92,000 largely contiguous and adjacent acres in the Permian Basin.

The nominal deal value is ~$13B including assumption of debt.

p.s. If CVX had cut their dividend, as I thought they should (#msg-154574407), they would’ve been able to do the NBL deal using at least some cash instead of stock.