Stocks plunged on Monday, with major indices tumbling by over 2% during the afternoon session. Brad McMillan, Commonwealth Financial Network CIO and Jason Ware, Albion Financial Group CIO joined Yahoo Finance Live to discuss.
Yahoo Finance’s Ines Ferre reports on the day's trending tickers.
ConocoPhillips (ticker: COP) has made one of the largest deals in energy in the past year, agreeing to buy Royal Dutch Shell ‘s (RDS.B) assets in the Permian Basin for $9.5 billion in cash. Conoco is obtaining roughly 225,000 acres and producing properties in Texas and more than 600 miles of operated crude oil, gas, and water pipelines and infrastructure. “We were presented with a unique opportunity to add premium assets at a value that meets our strict cost of supply framework and brings financial and operational metrics that are highly accretive to our multi-year plan,” Ryan Lance, Conoco’s CEO, said in a statement.