Stocks broadly higher…Chevron buys Anadarko…Southwest removing Boeing Max flights through Aug. 5
NEW YORK (AP) – Stocks are broadly higher in early trading on Wall Street. Banks are leading the gains after solid quarterly profit reports from JPMorgan Chase and Wells Fargo. Energy and media companies are also rising.
NEW YORK (AP) – Walt Disney shares are rocketing to an all-time high in early trading after the company moved aggressively into the streaming arena. The Disney Plus video steaming is being released in tandem with a blockbuster lineup of films coming out this year, including Aladdin, Toy Story 4, The Lion King, Frozen 2 and Star Wars: Episode IX. Shares in The Walt Disney Co. hit $129.85 at the opening bell today, up 13 percent.
SAN RAMON, Calif. (AP) – Chevron is buying Anadarko (an-uh-DAR’-koh) Petroleum in a $33 billion cash-and-stock deal as the company seeks to grow stronger in deep water exploration in the gulf and the energy-rich southwest region of Texas called the Permian Basin. Chevron shares sank on Wall Street after announcing a deal. Anadarko skyrocketed.
UNDATED (AP) – Southwest is removing flights with the troubled Boeing 737 Max aircraft from its schedule through Aug. 5, a period that includes the peak of the airline’s busy summer travel season. The company did not specify how many flights would be canceled because of the new schedule. It removed the jet from service on March 13 following two deadly crashes involving other airlines.
NEW YORK (AP) – The FCC will hold a big auction to bolster 5G service that promises faster wireless speeds and has implications for technologies like self-driving cars and augmented reality. It will also spend $20 billion to bolster internet in rural areas, where millions of Americans still don’t have access to broadband.