Published: April 12, 2019
Investors came into the season expecting it to be a tough one for companies. FactSet expected first-quarter earnings to have fallen 4.2% in the first quarter.
Sentiment was also boosted on Friday by a massive deal in the energy sector. Dow member Chevron announced plans to acquire Anadarko Petroleum for $33 billion in cash and stock. The deal values Anadarko at a 37% premium from the stock’s close on Thursday. Anadarko shares jumped 30% in the premarket while Chevron fell 4.3%.
Disney shares added to the gains, rising more than 6% after the media giant unveiled a streaming service at a lower price point than Netflix. Shares of Netflix, meanwhile, dipped 2%.
from Viral News Reports http://bit.ly/2IufyKr
0 Comments