Seeking Alpha’s roundup of statements, announcements, and remarks that could impact markets, sectors, or individual stocks.
- The U.S. and India have finally reached a trade deal.
“Out of friendship and respect for Prime Minister Modi and, as per his request, effective immediately, we agreed to a Trade Deal between the United States and India, whereby the United States will charge a reduced Reciprocal Tariff, lowering it from 25% to 18%. They will likewise move forward to reduce their Tariffs and Non-Tariff Barriers against the United States to ZERO,” Trump said in a long post on Truth Social.
“The Prime Minister also committed to “BUY AMERICAN,” at a much higher level, in addition to over $500 BILLION DOLLARS of U.S. Energy, Technology, Agricultural, Coal, and many other products. Our amazing relationship with India will be even stronger going forward,” Trump added.
Trump also said that India has agreed to stop buying Russian oil and buy more oil from the U.S. and potentially Venezuela.
- Disney (DIS) CEO Bob Iger, who is slated to step down at the end of the year, told investors Monday that the entertainment company was on a “path to continued growth.”
“I’m incredibly proud of all that we’ve accomplished over the past three years to set Disney on the path to continued growth. I’m inspired and energized by the opportunities ahead for this wonderful company,” Iger said during a conference call with investors, according to CNBC.
Disney reported better-than-expected fiscal Q1 earnings early Monday.
On Friday, The Wall Street Journal reported that Iger would like to step down as CEO before his contract expires at the end of 2026. Josh D’Amaro, who oversees Disney’s theme parks and resorts division, is believed to be a frontrunner for the job.
Disney’s board is expected to vote on Iger’s successor later this week, according to CNBC.
- Devon Energy (DVN) and Coterra Energy (CTRA) have agreed to merge through an all-stock deal with an enterprise value of around $58B, with the combined company to be known as Devon Energy.
“The combination will create a leading large-cap shale operator with a high-quality asset base anchored by a premier position in the economic core of the Delaware Basin,” the companies said in a joint statement.
“The combined company will offer best-in-class rock quality and inventory depth, supported by a balanced commodity mix, leading cost structure, and a conservative balance sheet. Devon Energy will be strongly positioned to deliver top-tier capital efficiency gains and consistent profitable per-share growth through the commodity cycles,” said Coterra CEO Tom Jorden in the statement.
The deal is expected to close in Q2.