U.S. stocks were slightly lower yesterday as investors appeared underwhelmed by earnings from Goldman Sachs and Citigroup as they looked for guidance on the state of the banking sector and the broader economy.
American Airlines announced that it will be extending its flight cancellations involving the Boeing 737 MAX aircraft until August 15. The extension would impact about 115 flights per day for American Airlines. This comes on the heels of multiple other airline companies announcing similar cancellations. Southwest will not be flying any Boeing 737 MAX airplanes until at least August 5, and United Airlines has cancelled flights until June 5.
Waste Management announced that it would be buying Advanced Disposal Services in a $4.9 billion deal. This purchase is the biggest in nine years for Waste Management. Advanced Disposal Services stock surged 20% in early trade, while Waste Management shares rose 2%.
Chevron agreed to purchase Anadarko for more than $47 billion, including debt, in one of the largest deals of the year. Anadarko stock is trading very close to the $62.83 value shareholders will eventually receive from Chevron an indication that investors expect another, higher bid to emerge from Occidental Petroleum bid $70 for Anadarko, about 11% higher than where Anadarko shares currently trade.
With Northwest Quadrant Wealth Management, I'm Tyler Simones