Denbury:
- market cap: $4.4 billion
- CLR, market cap: $25 billion
I don't see any operator in the Bakken interested in Denbury except CLR, but that's a huge market cap CLR would have to cover -- probably $6 billion by the time all is said and done.
CLR-DEN would be an incredibly good fit -- it's just the dollars, now, to be sorted out, if it can be done.
This sort of reminds me of Warren Buffett.
I was too young by the time Warren Buffett had made his mark as an investor but after I turned 27 years old, or something like, I started following him.
These are his milestones -- three -- that put him alone in the investing pantheon (of gods).
- buying BNSF: up until then, one could argue that BRK was a mutual fund with a lot of wholly-owned smaller companies but nothing like BNSF; Buffett said he "bet his company" on BNSF
- taking his stake in AAPL, despite being late to the party;
- his financial relationship with Vicki Holub
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Other News
Jobless claims: drop slightly; down 2,000 to 250,000.
Philly Fed Index: best number since April, 2022 --
- 6.2 vs -5.0
- this number is followed more closely than the Empire State survey
- this is huge, for the Philly Fed Index
Corporate tax rate: minimum, 15%, link here. Bezos, Buffett, Schmidt, Zuckerberg are all big Biden supporters.
Divs: Warren Buffett's favorite dividend stocks for 2022. No surprises. Includes AAPL which can hardly be considered a dividend-payng stock, although it does pay a little.
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The Market
Pre-market: at 7:15 a.m. CT, futures went from red to green.
Bezos, Zuck, et al will consider the tax as a political contribution and pass the cost onto the consumer, as corporate America always does.
ReplyDeleteRegardless of reality, this is a huge political statement owned by the DEMS: big corporations will pay their fair share. The GOP fought this; did not want big corporations to pay their fair share.
DeleteReal or not real, that's the political messaging. If the GOP is against the big corporations paying their fair share, I have problems with the GOP message.
The GOP is tone-deaf. There's an analogy with Liz Cheney. I have no idea why she was willing to lose her Senate seat. The GOP seems willing to lose their advantage going into 2024 to play to their millionaire-base.
DeleteWow. I really blew that! Liz Cheney was a member of the US House, not the US Senate. There was so much press on Liz Cheney, my mind just kept thinking US Senate -- no way a House seat deserved this much coverage.
DeleteA reader was nice enough to tell me / remind me that she was a US House member not a senator. Now, for me, it really doesn't matter. A US House member -- it's simply a stepping stone to something else. In this case, she maxed out her opportunities there and was ready to move on.
Do not disagree, major frustration has long been the fact the Repubs always seem to blow every advantage the Dems hand them.
ReplyDeleteIt's funny how things work out. I was an idiot -- completely missed it -- thinking she was a US Senator --- but now that it makes sense. Liz Cheney saw that she had maxed out her opportunities in the US House and was ready to move on. Losing this election now frees her up to do something different. Very, very interesting.
Delete