Chevron will buy Hess in all-stock deal valued at $53 billion, Roche agrees to buy a developer of a drug for people suffering from inflammatory bowel disease...
Stock futures were falling Monday as equities come off a losing week, hit hard by rising Treasury yields and worries over higher-for-longer interest rates. Wall Street will be gearing up the busiest week of the earnings season, including reports from some of the tech sector’s biggest names such as Microsoft, Alphabet, Amazon.com, and Meta Platforms.Chevron reached a deal to buy Hess in all-stock deal valued at $53 billion, or $171 a share.
Textainer Group Holdings , a shipping-container lessor, agreed to be acquired by infrastructure investor Stonepeak for about $2.1 billion. Textainer shareholders will receive $50 a share in cash; the stock closed at $34.15 on Friday and was surging 42% to $48.53 in premarket trading. The deal has an enterprise value of about $7.4 billion including Textainer’s debt.
Okta was down 1.9% in premarket trading after slumping 12% on Friday following the company’s disclosure that a hacker used a stolen credential to access its support system. “The threat actor was able to view files uploaded by certain Okta customers as part of recent support cases,” Okta’s Chief Security Officer David Bradbury said in an online post. Okta’s support system is separate from the production Okta service, which hasn’t been affected.
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Chevron to acquire Hess Corp. in $53 billion all-share dealBarbara Kollmeyer is based in Madrid, where she leads MarketWatch's pre-markets coverage of financial markets and writes the Need to Know column. She has worked in London and Los Angeles for MarketWatch previously. Follow her on Twitter bkollmeyer.
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