Wednesday, April 24US and Worldwide HEADLINE NEWS!

Business

Negative surprise Occidental is going hostile on Anadarko: Expert – Yahoo Finance

Negative surprise Occidental is going hostile on Anadarko: Expert – Yahoo Finance

Business
. Occidental Petroleum bids $76 a share for Anadarko Petroleum in a half-cash, half-stock offer that values the oil and gas driller at $57 billion. Chevron announced an agreement on April 12 to buy Anadarko for $65 a share in a 75% stock and 25% cash transaction. Paul Sankey, managing director at Mizuho Securities, discusses the battle with CNBC's "Power Lunch" team... . Source link
Stock Market News: Boeing Handles MAX Fallout; Occidental Gets Hostile – Motley Fool

Stock Market News: Boeing Handles MAX Fallout; Occidental Gets Hostile – Motley Fool

Business
. The stock market was roughly flat on Wednesday morning, with a high volume of results on the earnings front keeping major benchmarks from making big moves. Just after 11:30 a.m. EDT, the Dow Jones Industrial Average (DJINDICES:^DJI) was down 9 points to 26,647. The S&P 500 (SNPINDEX:^GSPC) was up less than 1 point to 2,934, while the Nasdaq Composite (NASDAQINDEX:^IXIC) picked up 13 points to 8,134. One of the most anticipated financial reports came from aerospace giant Boeing (NYSE:BA), which has labored under the strain of having had its 737 MAX aircraft grounded across the globe in the wake of two major fatal crashes. Meanwhile, Occidental Petroleum (NYSE:OXY) decided that it wouldn't give up on its aspirations to acquire Anadarko Petroleum (NYSE:APC), making a hostile bid in an...
Elon Musk Was Right: Cheap Cameras Could Replace Lidar on Self-Driving Cars, Researchers Find – Gizmodo

Elon Musk Was Right: Cheap Cameras Could Replace Lidar on Self-Driving Cars, Researchers Find – Gizmodo

Business
. Among the many tidbits of wisdom that Elon Musk dropped at a Tesla company investor event on Monday was the revelation that Lidar, a laser-based scanning technology that images objects in 3D, was “friggin’ stupid,” and that “...anyone relying on LiDAR is doomed.” It seemed a grandiose claim given how many autonomous car initiatives rely on the tech, but Cornell researchers have just backed up Musk’s predictions with a new method for self-driving cars to see the world in 3D using a pair of cheap cameras.Being able to visualize and detect objects around a vehicle in three dimensions is crucial for autonomous cars to safely operate in a world where roads are shared with other vehicles, cyclists, and often pedestrians. As a driver, every time you turn yo...
It’s Elon Musk vs. everyone else in the race for fully driverless cars – The Verge

It’s Elon Musk vs. everyone else in the race for fully driverless cars – The Verge

Business
. At Tesla’s “Autonomy Day” event for investors on Monday, Elon Musk was full of trash talk for his competitors and their technology. LIDAR, the light beam sensor that practically everyone views as an essential ingredient for self-driving cars, is “a fool’s errand,” according to Musk. What’s more, he went on, “anyone relying on LIDAR is doomed. Doomed. Expensive sensors that are unnecessary. It’s like having a whole bunch of expensive appendices... you’ll see.” The simulation programs engineers use to run their virtual self-driving cars through millions of “edge case” scenarios to rack up billions of driving miles are...
Stocks making the biggest moves premarket: Boeing, Anadarko Petroleum, Caterpillar, AT&T & more – CNBC

Stocks making the biggest moves premarket: Boeing, Anadarko Petroleum, Caterpillar, AT&T & more – CNBC

Business
. Check out the companies making headlines before the bell: Anadarko Petroleum — Occidental Petroleum is offering $76 per share for Anadarko, topping the deal that Chevron has in place to buy Anadarko. Occidental CEO Vicki Hollub told CNBC that Occidental is the best acquirer for Anadarko given its experience in shale and in the Permian Basin. Boeing — Boeing earned an adjusted $3.16 per share for the first quarter, matching estimates, with revenue slightly below forecast. Boeing is pulling its 2019 guidance and suspending its share repurchase program due to uncertainty surrounding the grounding of its 737 MAX aircraft. ...

Chevron And Occidental Start Bidding War For Anadarko – OilPrice.com

Business
. Occidental Petroleum said on Wednesday that it is proposing to buy Anadarko at a higher price than the one Anadarko had accepted from Chevron, potentially opening a bidding war for one of the U.S. companies with the strongest positions in the Permian.Occidental Petroleum sent a letter to Anadarko’s board of directors today, offering “a superior proposal” to buy Anadarko for $76.00 per share, in which Anadarko shareholders would receive $38.00 in cash and 0.6094 shares of Occidental common stock for each share of Anadarko common stock.The $76.00 per share cash-and-stock proposal from Occidental represents a premium of around 20 percent to the current value of the transaction with Chevron that Anadarko had accepted, Occidental said in a statement. “The 50-50 ...
Occidental Petroleum bids $76 a share for Anadarko, trumping Chevron offer for the oil and gas driller – CNBC

Occidental Petroleum bids $76 a share for Anadarko, trumping Chevron offer for the oil and gas driller – CNBC

Business
. Occidental Petroleum bid $76 a share for Anadarko Petroleum on Wednesday, higher than a previous offer by Chevron for the oil and gas driller. The new Occidental offer, which was sent via a letter to Anadarko's board on Wednesday, is half cash and half stock, specifically $38 in cash and 0.6094 Occidental shares. It values Anadarko at $57 billion, including debt. Chevron announced an agreement on April 12 to buy Anadarko for $33 billion in cash and stock, valuing the company at $65 a share. CNBC later reported there was another bidder for Anadarko, Occidental, which was offering mid-$70s per share before Chevron stepped in with its offer. ...
Finance Promotions Guide Positive 1Q Sales Trend for Harley-Davidson – Powersports Finance

Finance Promotions Guide Positive 1Q Sales Trend for Harley-Davidson – Powersports Finance

Business
. March finance promotions helped narrow the gap on Harley-Davidson Inc.‘s slipping U.S. retail sales in the first quarter, the company reported on its earnings call. The OEM ran its “This is as free as freedom gets” promotion in March, offering customers 2.99% APR and no money down. The company was unable to quantify how the promotion contributed to March sales growth, but Harley is crafting finance promotions to target different consumers and to stay competitive. “In general, the teams are becoming much more surgical in the reaching of different customers on the terms that the customers are going to respond to,” Chief Executive Matt Levatich said on the call. “We are in a very competitive general industry environment and [that] finance promo… ...

Ifo economist: Data points to German economic growth being weaker than 0.8% forecast – ForexLive

Business
. Comments by Ifo economist, Klaus Wohlrabe Industrial sector is dragging the economy downDomestic economy remains important pillar of supportBrexit decision delay did not help German business climate ForexLive For some context, the 0.8% forecast he's talking about is Ifo's own projection. The German government itself already sees economic growth this year as being at 0.5%. The sluggish result from the Ifo data earlier basically suggests that economic headwinds continue to blow strongly in the German economy as we begin Q2, so hopes for any solid economic rebound will have to wait just a little longer. .. . Source link
Tech Stocks, Gold, Oil, and S&P 500: Bitcoin ROI Beats Them All – newsBTC

Tech Stocks, Gold, Oil, and S&P 500: Bitcoin ROI Beats Them All – newsBTC

Business
. Bitcoin has blindsided bankers and brokers alike, due to its ability to bring substantial and unheard of returns on investments made in the new, emerging financial technology. It’s been compared to a number of other financial assets, including tech stocks, and has been positioned as the digital version of gold.However, returns made on other financial instruments and asset classes, even in the tech sector which has seen a “decade of incredible gains,” pales “in comparison to Bitcoin.” In the Last Two Years, BTC Has Easily Beaten S&P 500, Gold, and OilEver since December 2017 when Bitcoin came on the mainstream public’s radar, it has fallen steadily as much as 85% to where price bottomed back in December 2018 at around $3,100. It’s earned the...