Weekly Download - July 27
Chevron (Tii:CVX) announced Monday it would acquire Noble Energy (Tii:NBL) for $5 billion. It's the biggest energy deal since the Covid-19 pandemic decimated the oil industry. America's shale oil and gas industry has been hit hard during the pandemic. Demand has tumbled as people stopped traveling and commuting.
Today, eBay (Tii:EBAY) announced it had reached a deal to sell off its Classifieds business unit to Adevinta, a Norway-based classified ads publisher. The deal is valued at $9.2 billion, which includes eBay getting $2.5 billion in cash and 540 million Adevinta shares. The deal makes eBay a 44% owner of Adevinta, with a 33.3% voting stake.
Apple (Tii:APPL) announced that it aims to become entirely carbon neutral by 2030. The company’s global corporate operations are already carbon neutral, so the announcement means that Apple will extend that goal to its manufacturing supply chain and product life cycle.
An alarming spike in U.S. coronavirus cases is prompting McDonald's (Tii:MCD) to require customers to wear face masks at all of its more than 14,000 domestic-market restaurants, the company announced Friday. The policy takes effect on Aug. 1.
Tesla (Tii:TSLA) beat expectations and reported its fourth straight quarter of profits. On the earnings call Wednesday, Musk announced that Tesla will build its next factory near Austin, Texas. The company plans to dedicate its Fremont, California, car plant to the production of Model S and Model X vehicles for all markets, and for Model 3 and Model Y production for the Western half of North America.
Twitter (Tii:TWTR) reported second-quarter earnings Thursday that missed analyst expectations on revenue and beat on active users. Twitter said it saw “moderate recovery” to its ad business compared with March, but ad revenue was still down 23% year over year.