FINWIRES · TerminalLIVE
FINWIRES

Market Chatter: Devon Energy Faces Pressure From Second Activist Investor Following Coterra Merger

By

Devon Energy (DVN) is drawing fresh activist attention following its merger with Coterra Energy, with Toms Capital Investment Management having built a stake in the $50 billion shale producer, the Financial Times reported on Wednesday, citing people familiar with the matter.

TCIM, a hedge fund backed by Ken Griffin's Citadel, has become one of Devon's top five investors, though the specific changes it is seeking were not immediately clear, the report said.

Devon and TCIM did not immediately respond to requests for comment from.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Price: $42.88, Change: $-0.01, Percent Change: -0.02%

Related Articles

Wire

Top Cryptocurrencies Lower; Bitcoin Falls Below $66,000 Level

Major digital assets were weaker Tuesday, with Bitcoin (BTC-USD) falling below the $66,000 level.The CoinDesk Market Index, which tracks dozens of digital assets including Bitcoin, fell almost 2.3% in the past 24 hours. The Nasdaq 100 fell 1.7%, the S&P 500 declined 0.5%, and the Dow Jones Industrial Average increased 0.7%.Bitcoin fell 1.5% to $65,538, according to CoinMarketCap data. The most popular cryptocurrency's 24-hour trading volume dropped 30.9% to $26.1 billion.Ethereum (ETH-USD), the second-largest digital asset by market value, dropped 1.6% to $1,794.XRP (XRP-USD) shed 4.5%, BNB (BNB-USD) lost 2.2%, and Solana (SOL-USD) decreased 1.6%. Dogecoin (DOGE-USD) fell 1.7%, while Cardano (ADA-USD) declined 6.6%.The US 10-year Treasury yield stood at 4.426% at 3 p.m. ET Tuesday, down from 4.469% Monday, while the five-year yield fell to 4.149% from 4.186%.The total market value of the cryptocurrency industry fell 1.5% in the past 24 hours to $2.25 trillion, with trading volume declining 20.6% to $78.55 billion.Price: $65544.28, Change: $-743.20, Percent Change: -1.12%

$ADA-USD$BNB-USD$BTC-USD$DOGE-USD$ETH-USD$SOL-USD$XRP-USD
Wire

Thor Industries Keeps Quarterly Dividend at $0.52 a Share, Payable July 15 to Holders of Record July 1

Thor Industries Keeps Quarterly Dividend at $0.52 a Share, Payable July 15 to Holders of Record July 1

$THO
Wire

Sector Update: Consumer

Consumer stocks edged up late Tuesday afternoon, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) each fractionally higher.In corporate news, Rivian Automotive (RIVN) laid off hundreds of employees, or under 2% of its workforce, Tuesday, the Wall Street Journal reported, citing a company spokesperson. The layoffs affected workers in the electric-vehicle maker's service and customer organization, the report said. Rivian shares fell 4.3%.

$RIVN