Quick Bytes Monday, June 20th: MRO,CMCSA,FB,YELP,ANTM

A quick digest of what’s hot and trending for Monday, June 20th. Here are your quick news bytes (yes we know it is bites) to get you caught up quickly with some interesting reads:

  1. Marathon Oil Corporation(NYSE:MRO) will buy PayRock Energy Holdings for $888 million. According to CEO Lee Tillman,  the acquisition “will meaningfully expand the quality and scale of Marathon Oil’s existing portfolio in one of the best unconventional oil plays in the U.S.” (SeekingAlpha)
  2. Comcast Corporation(NASDAQ:CMCSA) prepares his Netflix killer for an Olympic showcase, calling Rio games a laboratory for innovation. The heart of Comcast’s strategy is to keep its 22.4 million cable subscribers from cutting the cord. Roberts says “the Olympics will be individualized, personalized and on every device.” (Bloomberg)
  3. Zuckerberg’s majority control of Facebook Inc(NASDAQ:FB) is up for a vote today. The vote would create a new class of company stock that would ensure control for Zuckerberg even if he sells shares or transfers them to his Chan Zuckerberg Initiative. In a wrinkle, Facebook’s board is also proposing to remove Zuckerberg’s majority control should he one day exit any management role at the company. (SeekingAlpha)
  4. A swing in Brexit polls have stock markets souring. The latest polls show a big swing against exiting the EU. (SeekingAlpha)
  5. Yelp Inc(NYSE:YELP) shares were upgraded to Buy from Hold and had their price target raised to $33 from $26 by Deutsche Bank. DB noted stabilized salesforce productivity and confidence in management. (SeekingAlpha)
  6. Regulators are concerned about the Anthem Inc(NYSE:ANTM)CIGNA Corporation(NYSE:CI) merger and aren’t sure there are enough concessions that could be offered to preserve competition. Companies often sell assets or make concessions to the government to win approval of mergers but government staffers are not optimistic on this combination. A decision is expected by July 2nd. Anthem has said that it has minimal overlap with Cigna geographically. The merger was part of a wave of tie-ups that would take the US from five major health insurers to three. (WSJ)
  7. An article on SeekingAlpha looks at the OPEC Oil Supply Situation and gives a generate primer on OPEC, which holds a 40 percent market share in the global oil market. OPEC-exported oil makes up around 60 percent of the oil trade.  (SeekingAlpha)

You may also like...

escort kutahya escort bornova escort beylikduzu escort amasya escort diyarbakir
Bits and bytes
Quick Bytes Wednesday June 15th: FB, VRX, CELG, GOOG, WFM

A quick digest of what's hot and trending for Wednesday, June 15th. Here are your quick news bytes (yes we know...