Diamondback Energy (FANG) will acquire Endeavor Energy Resources in a deal valued at $26 billion, just the latest instance of M&A activity in the energy space. TD Cowen Senior Analyst David Deckelbaum lists all the advantages Diamondback has to gain from this merger, including strengthening its hold on the Permian Basin. "You're practically buying the same sort of acres that you have now, so you really have no degradation performance, valuation was very reasonable, and now you just really scaled to now be the third-largest producer in the Permian Basin," Deckelbaum tells Yahoo Finance. For more expert insight and the latest market action, click here to watch this full episode of Yahoo Finance Live. Editor's note: This article was written by Luke Carberry Mogan.
Diamondback Energy (FANG) will acquire Endeavor Energy Resources in a deal valued at $26 billion, just the latest instance of M&A activity in the energy space.
TD Cowen Senior Analyst David Deckelbaum lists all the advantages Diamondback has to gain from this merger, including strengthening its hold on the Permian Basin.
"You're practically buying the same sort of acres that you have now, so you really have no degradation performance, valuation was very reasonable, and now you just really scaled to now be the third-largest producer in the Permian Basin," Deckelbaum tells Yahoo Finance.
For more expert insight and the latest market action, click here to watch this full episode of Yahoo Finance Live.
Editor's note: This article was written by Luke Carberry Mogan.
Bloomberg
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TipRanks
Fundamentally, bowling center operator Bowlero (NYSE:BOWL) theoretically enjoys a long-term bullish narrative. With bowling representing one of the most popular sports in the U.S., Bowlero should attract patient investors. However, that’s not the focus of this story, which centers on extreme speculation. As the bears threw everything at the company, the bulls woke up. Subsequently, a short squeeze could be on, making me bullish on BOWL stock call options in the near term. I also hold a position.
Barrons.com
Cadence Design Systems shares are heading lower in late trading after the provider of chip design software provided disappointing financial guidance for the first quarter. Cadence shares—like those of chief rival Synopsys—have been on the rise in recent months, buoyed by a view that semiconductor design software tools would get a boost from the aggressive growth in the market for chips targeted at artificial intelligence software workloads. Profits on an adjusted basis were $1.38 a share, above the guidance range of $1.30 to $1.36 a share, and ahead of consensus at $1.34 a share.
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