235 stories mentioning Chevron CorporationUpdated just now
Chevron in focus as Moody's flagged windfall earnings for major oil producers from a Hormuz closure, while US-Iran peace news moved energy shares.
Chevron (CVX) has an average rating of overweight and mean price target of $217.81, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://finwires.com/en/contact)Price: $170.44, Change: $-1.80, Percent Change: -1.05%
Energy stocks advanced late Thursday afternoon, with the NYSE Energy Sector Index rising 0.6% and the State Street Energy Select Sector SPDR ETF (XLE) adding 0.8%.The Philadelphia Oil Service Sector Index gained 2.5%, and the Dow Jones US Utilities Index increased 0.7%.In sector news, Iran's Islamic Revolutionary Guard Corps attacked a Singapore-flagged ship on Thursday in the Strait of Hormuz, damaging the vessel's bridge while causing no casualties, the Wall Street Journal reported.West Texas Intermediate crude oil rose 2.5% to $72.12 a barrel, and global benchmark Brent added 2.4% to $75.48 a barrel.US natural gas stocks rose by 76 billion cubic feet in the week ended June 19, larger than the 69 billion cubic feet increase expected in a Bloomberg survey and following an increase of 73 billion cubic feet in the previous week. Henry Hub natural gas futures gained 2.1% to $3.29 per 1 million BTU.In corporate news, Chevron (CVX) said its Venezuelan business remains operational and that all of its workers are accounted for after back-to-back earthquakes in the country, Bloomberg reported, citing a company statement. Chevron shares were up 0.3%.Prairie Operating (PROP) said Thursday that it promoted Gregory Patton to chief executive and board member, and named Michael Shelly as chief financial officer. Its shares jumped 8%.TotalEnergies (TTE) must spell out the climate risks tied to emissions from its oil and gas products and detail how it plans to address them, the Paris Judicial Court ruled Thursday, Reuters reported, citing a summary of the decision. TotalEnergies shares eased 0.1%.Eco Wave Power Global (WAVE) shares climbed 6.1% after the company priced an offering of 400,000 American depositary shares to an institutional investor at $10 apiece for gross proceeds of $4 million.
Energy stocks advanced Thursday afternoon, with the NYSE Energy Sector Index rising 0.2% and the State Street Energy Select Sector SPDR ETF (XLE) adding 0.5%.The Philadelphia Oil Service Sector Index was climbing up 2.2%, and the Dow Jones US Utilities Index increased 0.2%.Front-month West Texas Intermediate crude oil rose 1.7% to $71.53 a barrel, and the global benchmark Brent crude contract added 1.4% to $74.75 a barrel. Henry Hub natural gas futures gained 1.7% to $3.27 per 1 million BTU.In sector news, US natural gas stocks rose by 76 billion cubic feet in the week ended June 19, larger than the 69 billion cubic foot increase expected in a Bloomberg survey and following an increase of 73 billion cubic feet in the previous week.In corporate news, Chevron (CVX) said its Venezuelan business is still operational and all of its workers are accounted for after back-to-back earthquakes in the country, Bloomberg reported, citing a company statement. Chevron shares were up 0.1%.Prairie Operating Co. (PROP) said Thursday it promoted Gregory Patton to chief executive and a board member, and also named Michael Shelly as chief financial officer. Shares jumped 11%.TotalEnergies (TTE) must spell out the climate risks tied to emissions from its oil and gas products and detail how it plans to address them, the Paris Judicial Court ruled Thursday, Reuters reported, citing a summary of the decision. Shares eased 0.2%.
Energy stocks advanced Thursday afternoon, with the NYSE Energy Sector Index rising 0.5% and the State Street Energy Select Sector SPDR ETF (XLE) adding 0.4%.The Philadelphia Oil Service Sector Index was climbing 2.2%, and the Dow Jones US Utilities Index increased 0.2%.Front-month West Texas Intermediate crude oil rose 1.7% to $71.53 a barrel, and the global benchmark Brent crude contract added 1.4% to $74.75 a barrel. Henry Hub natural gas futures gained 1.7% to $3.27 per 1 million BTU.In corporate news, Chevron (CVX) said its Venezuelan business is still operational and all of its workers are accounted for after back-to-back earthquakes in the country, Bloomberg reported, citing a company statement. Shares were down 0.2%.
US energy major Chevron (CVX) has accounted for all of its employees in Venezuela and said operations were normal following massive earthquakes in the country, it said on Thursday.At least 164 people were reportedly killed and almost 1,000 injured following the back-to-back powerful earthquakes in the country, with several buildings collapsing in the capital city, Caracas, according to media reports."As a longtime employer and partner in Venezuela, we stand in solidarity with the country and its people during this difficult time," it said."We remain committed to supporting our employees and the communities surrounding our facilities and ensuring the continued safe operation of our assets," Chevron said in a statement shared with.
(Update with Chevron's response to a request for comment in the final paragraph.)Chevron (CVX) said its Venezuelan business is still operational and all of its workers are accounted for after back-to-back earthquakes there, Bloomberg reported Thursday, citing a company statement.The two earthquakes struck the South American nation on Wednesday evening and left at least 164 people dead and 971 injured, the report said, citing an earlier report by the Associated Press."We are deeply saddened by the impact of the earthquakes that struck Venezuela on June 24," Chevron said in a statement. "Our thoughts are with the communities dealing with loss and disruption, as well as the first responders and emergency personnel working tirelessly to support relief efforts. All Chevron employees are accounted for and we remain operational."(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.)
Chevron (CVX) said its Venezuelan business is still operational and all of its workers are accounted for after back-to-back earthquakes there, Bloomberg reported Thursday, citing a company statement.The two earthquakes struck the South American nation on Wednesday evening and left at least 164 people dead and 971 injured, the report said, citing an earlier report by the Associated Press.Chevron didn't immediately reply to a request 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.)
US President Donald Trump said Wednesday negotiations with Iran are advancing and warned that any fees on vessels transiting the Strait of Hormuz would be "unacceptable."Trump made the remarks speaking alongside Nato Secretary General Mark Rutte at the White House."We're doing great in our negotiations with Iran," Trump said, expressing confidence in ongoing talks with Tehran and dismissing suggestions that recent political developments could affect the discussions.Asked whether he would support an agreement that imposed fees on vessels using the Strait of Hormuz, Trump said, "It would be unacceptable," arguing that similar charges could encourage other countries to follow suit.Discussing the Iran conflict, Trump said the US did not receive the level of support it expected from allies, adding that while the US did not need help, it would have been "nice" if partners had offered assistance.Trump also credited Turkish President Recep Tayyip Erdogan and Chinese President Xi Jinping for staying out of the Iran conflict. He said both leaders honored his requests to avoid involvement, helping prevent a broader regional escalation.Trump said he has directed the Department of Justice to examine fuel pricing practices at major energy companies alleging price gouging by oil firms. He noted that retail gasoline prices have not fallen in line with declines in crude oil markets.He pointed to several energy majors including Exxon Mobil (XOM), Chevron (CVX), Shell (SHEL), BP (BP), among others. "... the gasoline or the oil prices have come down so much, and we are not seeing anything at the pump by comparison," Trump said.Trump said, "...we should be, in my opinion, at $2.25 right now at the pump, and we're higher than that, and we are doing a big investigation on it."He alleged that the companies are "possibly gouging," and warned, "I hope they're not. Otherwise, they're going to be in big trouble."The US President said about 19 million barrels of oil moved through global markets the previous day, describing the volume as "a flood" and citing it as evidence of strong supply conditions.Turning to UK energy policy, Trump urged British leaders to expand North Sea oil development and argued the country is failing to capitalize on a major resource opportunity. "You have the greatest oil field in the world, one of them, it's called the North Sea oil," Trump said.
Energy stocks were lower late Wednesday afternoon, with the NYSE Energy Sector Index dropping 2.4% and the State Street Energy Select Sector SPDR ETF (XLE) falling 1.9%.The Philadelphia Oil Service Sector Index slumped 3.7%, and the Dow Jones US Utilities Index was up 0.7%.In sector news, ships have started sailing through the Strait of Hormuz under a new scheme by the International Maritime Organization to evacuate trapped vessels, a spokesperson told Reuters on Wednesday. The initiative will enable hundreds of ships with some 11,000 seafarers stranded in the Gulf to sail through Hormuz.Front-month West Texas Intermediate crude oil fell 4.4% to $70.01 a barrel, and the global benchmark Brent crude contract dropped 5% to $73.25 a barrel. Henry Hub natural gas futures rose 2.6% to $3.23 per 1 million BTU.US crude oil stocks, including those in the Strategic Petroleum Reserve, fell by 15.1 million barrels in the week ended June 19 following a decrease of 17.2 million barrels in the previous week. Excluding inventories in the SPR, commercial crude oil stocks declined by 6.1 million barrels after an 8.3-million-barrel decline in the previous week, a larger decrease than the 3.6 million barrel decrease expected in a survey compiled by Bloomberg.In corporate news, Chevron's (CVX) Project Kilby, a planned 2.7-gigawatt power project for Microsoft's (MSFT) data centers in West Texas, could be expanded over time as Microsoft's power needs exceed the project's initial capacity, UBS Securities said following meetings with the company at an industry conference. Chevron shares were shedding 2.2%.TotalEnergies (TTE) said Wednesday it has acquired a 10% stake in the Bab Gas Cap Concession in Abu Dhabi, joining an international consortium to develop the major onshore gas field. TotalEnergies shares were down 2%.Sunrun (RUN) shares jumped 14% after the company agreed with Tesla (TSLA) and Renew Home to deliver more than 16 gigawatts of flexible energy capacity to hyperscalers and utilities.Consolidated Edison (ED) Chief Executive Tim Cawley said the company needs to expand parts of its grid equipment to weather longer and more intense heat waves, Reuters reported Tuesday, citing Cawley's remarks at a forum held the same day. Consolidated Edison shares were rising 1.7%.
Energy stocks were lower late Wednesday afternoon, with the NYSE Energy Sector Index dropping 2.4% and the State Street Energy Select Sector SPDR ETF (XLE) falling 1.8%.The Philadelphia Oil Service Sector Index slumped 3.7%, and the Dow Jones US Utilities Index was up 0.9%.Front-month West Texas Intermediate crude oil fell 4.5% to $69.95 a barrel, and the global benchmark Brent crude contract dropped 5.1% to $73.17 a barrel. Henry Hub natural gas futures rose 2.3% to $3.22 per 1 million BTU.In corporate news, Chevron's (CVX) Project Kilby, a planned 2.7-gigawatt power project for Microsoft's (MSFT) data centers in West Texas, could be expanded over time as Microsoft's power needs exceed the project's initial capacity, UBS Securities said following meetings with the company at an industry conference. Chevron shares were down 2.3%.
Chevron's (CVX) Project Kilby, a planned 2.7-gigawatt power project for Microsoft's (MSFT) data centers in West Texas, could be expanded over time as Microsoft's power needs exceed the project's initial capacity, UBS Securities said following meetings with the company at an industry conference.UBS said in a Tuesday note that the phased and modular nature of the project would allow for incremental expansion and noted that the 20-year agreement with Microsoft is longer than many comparable contracts. The brokerage added that the project could become one of the largest behind-the-meter power developments to date.Chevron views rising power demand as a structural market shift and expects the business to compete for capital by targeting mid-teen returns. The project has been incorporated into the company's existing capital guidance, and management sees the potential for the business to generate billions of dollars in free cash flow over time.Chevron is also leaning into the exploration space to reduce costs and improve the probability of success when drilling its first exploration well, the note added.UBS has a buy rating on Chevron with a price target of $220.Price: $171.66, Change: $-4.32, Percent Change: -2.45%
Texas Pacific Land (TPL) agreement to provide land and water solutions for Chevron's (CVX) Project Kilby development marks another step in West Texas data center expansion, though meaningful revenue may not arrive before 2028, TPH Energy said in a Wednesday note.The company announced Tuesday that it will provide land for cash consideration and grant exclusive rights to source aquifer-derived water for a power generation facility and related infrastructure at the Reeves County, Texas, project.Chevron's participation and Microsoft's (MSFT) role as data center operator strengthen the project's profile, although the agreement appears to overlap with land and water supply arrangements disclosed alongside first-quarter 2026 earnings, the note said.Previous partner disclosures pointed to a final investment decision by the end of 2026, with developers planning to invest over multiple years before delivering the first power from the project in 2028, according to TPH Energy.The water supply agreement is unlikely to generate a meaningful financial contribution until at least 2028 because the project still faces a lengthy development and construction timeline.TPH Energy views the latest deal as evidence that West Texas data center projects continue to advance and expects TPL to remain involved in future developments.Price: $372.00, Change: $+2.10, Percent Change: +0.57%
Chevron's (CVX) partnership with Microsoft (MSFT) to build a co-located power facility for a data center highlights fuel cost economics as a "key and underappreciated" aspect of its power solutions business, UBS Securities said in a note Monday.Chevron subsidiary Energy Forge One finalized the agreement to develop a 2.67-gigawatt natural gas-fired power plant to supply dedicated electricity to a Microsoft-operated data center under a 20-year power purchase agreement. Chevron will combine cycle gas turbines from GE Vernova (GEV) and simple cycle gas turbines from Caterpillar (CAT) to engineer the best system for its clients, the brokerage noted.By placing power generation near its upstream operations, Chevron is creating demand for associated gas that would otherwise be flared, curtailed, or sold cheaply, UBS analysts said. The company is improving its upstream realizations as well as boosting integration across its value chain, they added.The project's phased and modular approach allows incremental expansion over time, the brokerage said, adding that Microsoft is also seen increasing the initial order as its power needs are more than the capacity of the project.UBS Securities has a buy rating on Chevron's stock, with a price target of $220.Shares of Chevron were up 0.6% in Tuesday trading.Price: $176.11, Change: $+1.05, Percent Change: +0.60%
Energy stocks were rising late Monday afternoon, with the NYSE Energy Sector Index adding 0.9% and the State Street Energy Select Sector SPDR ETF (XLE) advancing 1.3%.The Philadelphia Oil Service Sector Index was up 0.7%, and the Dow Jones US Utilities Index rose 0.5%.Oil prices fell after reports that Iran has agreed with the US to allow international nuclear inspectors back into the country. US Vice President JD Vance said Monday that Iran agreed to admit inspectors from the International Atomic Energy Agency in the country, according to media reports.Front-month West Texas Intermediate crude oil fell 2.1% to $74.27 a barrel, and the global benchmark Brent crude contract dropped 2.9% to $78.26 a barrel. Henry Hub natural gas futures advanced 0.5% to $3.25 per 1 million BTU.In corporate news, ConocoPhillips (COP) shares gained 1.8% after Roth Capital Partners upgraded the stock to buy from neutral and raised its price target to $130 from $124.Chevron (CVX) has agreed to build a power plant in West Texas to supply electricity to a data center operated by Microsoft (MSFT) as part of a 20-year power purchase deal. Chevron shares rose 0.7%.BP (BP) and Eni's (E) joint venture Azule Energy approved the development of the Greater PAJ offshore oil project in Angola, Reuters reported, citing comments from company and government officials at a signing ceremony. BP and Eni shares added 1.7% and 1.1% respectively.Petrobras (PBR) shares rose 1.4%. The company said Friday its board approved a final investment decision for a biorefining project with an investment of about $1.2 billion at its Presidente Bernardes refinery in Sao Paulo state.
(Updates with index/price moves and political news from the first paragraph.)US equity indexes traded mixed ahead of Monday's close amid steep declines in communication services and rising government bond yields.The Nasdaq Composite dropped 1.4% to 26,160.44, with the S&P 500 down 0.5% to 7,465.9, while the Dow Jones Industrial Average rose 0.2% to 51,654.7. Communication services sank 4%, and consumer discretionary dropped 2%.Alphabet's (GOOG, GOOGL) Google DeepMind data scientist and Nobel Prize winner John Jumper is leaving to join Amazon (AMZN) and Alphabet-backed Anthropic, he said Friday. Shares of Alphabet slumped 5.5%, one of the steepest decliners on the S&P 500 and the Nasdaq.Netflix (NFLX) is looking to pursue additional partnerships with traditional broadcasters following the launch of its agreement with French broadcaster TF1, Chief Executive Officer Greg Peters told the Financial Times on Friday. Shares of Netflix dropped 5.8%, among the worst performers on the Nasdaq and the S&P 500.In geopolitical news, the US issued a 60-day license allowing Iran to sell oil on the international market, giving Tehran an economic lifeline as the two adversaries continued talks for a permanent peace deal, Bloomberg reported Monday.Vice President Vance and US officials claimed progress on multiple fronts, according to the Associated Press. It included the establishment of "mechanisms" to ensure the Strait of Hormuz stays open and to address fighting between Israel and Iranian-backed Hezbollah militants in southern Lebanon, the news report added.Front-month global benchmark North Sea Brent slumped 3.1% to $78.04 per barrel. The US West Texas Intermediate dropped 2.4% to $74.04 per barrel.Most US Treasury yields jumped, with the 10-year up 5.8 basis points to 4.51%. The two-year rate advanced 5.7 basis points to 4.23%.
(Updates with index/price moves and political/company news from the first paragraph.)US equity indexes traded mixed amid steep declines in communication services and consumer discretionary and rising government bond yields after midday Monday.The Nasdaq Composite dropped 1.2% to 26,194.83, with the S&P 500 down 0.4% to 7,472, while the Dow Jones Industrial Average rose 0.3% to 51,696.7.All sectors, except communication services, consumer discretionary, consumer staples and technology, gained. Real estate and healthcare led the gainers. Communication services sank 4.4%, and consumer discretionary was down 2%.Alphabet (GOOG, GOOGL) Google DeepMind data scientist and Nobel Prize winner John Jumper is leaving to join Amazon (AMZN) and Alphabet-backed Anthropic, he said Friday. Shares of Alphabet slumped nearly 6%, one of the steepest decliners on the S&P 500 and the Nasdaq.Netflix (NFLX) is looking to pursue additional partnerships with traditional broadcasters following the launch of its agreement with French broadcaster TF1, Chief Executive Officer Greg Peters told the Financial Times on Friday. Shares of Netflix dropped 6%, among the worst performers on the Nasdaq and the S&P 500.In geopolitical news, US Vice President JD Vance said Monday that Iran agreed to allow International Atomic Energy Agency inspectors into the country, according to media reports. "That is a major milestone for the American people, and the first step in permanently denuclearizing or permanently ending a nuclear weapons program in Iran, and that's exactly what we wanted to do," Vance was cited as saying.Iran's Foreign Minister Araghchi and the country's top negotiator Mohammad Bagher Ghalibaf are traveling to Oman to discuss the management of the Strait of Hormuz, Al Jazeera reported on Monday. The two are set to discuss consolidating Iranian arrangements for managing the strait and enhancing bilateral coordination, Ghalibaf said on Telegram, according to the news report.Front-month global benchmark North Sea Brent slumped 3.4% to $77.87 per barrel. The US West Texas Intermediate dropped 3% to $73.66 per barrel.Most US Treasury yields jumped, with the 10-year up six basis points to 4.52%. The two-year rate jumped 4.9 basis points to 4.23%. Even as oil prices have been declining since an interim peace deal was signed between the US and Iran, the market is still pricing two interest rate increases -- 25 basis points each -- by the end of this year, according to the CME FedWatch tool, following the hawkish lean seen in the June monetary policy announcement last week.In precious metals, gold futures fell 0.9% to $4,209.1, while silver futures declined 1% to $65.68.In company news, Chevron (CVX) has agreed to build a power plant in West Texas to supply electricity to a data center operated by technology giant Microsoft (MSFT), as part of a 20-year power purchase deal. Shares of Microsoft dropped 2.5%, among the steepest decliners on the Dow.AbbVie (ABBV) agreed to acquire Apogee Therapeutics (APGE) in an all-cash deal of about $10.9 billion, as the drugmaker looks to strengthen its immunology portfolio and accelerate its clinical presence in the respiratory segment. Shares of AbbVie advanced nearly 7%, one of the top gainers on the S&P 500.CRH (CRH) said it agreed to acquire building materials rival Arcosa (ACA) in an all-cash transaction valued at about $8.5 billion, expanding its infrastructure products business and strengthening its position in North America.
Energy stocks were rising Monday afternoon, with the NYSE Energy Sector Index adding 0.8% and the State Street Energy Select Sector SPDR ETF (XLE) advancing 0.9%.The Philadelphia Oil Service Sector Index slid 0.1%, and the Dow Jones US Utilities Index rose 1%.Oil prices fell after reports that Iran has agreed with the US to allow international nuclear inspectors back into the country. US Vice President JD Vance said Monday that Iran agreed to admit inspectors from the International Atomic Energy Agency in the country, according to media reports.Front-month West Texas Intermediate crude oil fell 3.1% to $73.48 a barrel, and the global benchmark Brent crude contract dropped 3.5% to $77.22 a barrel. Henry Hub natural gas futures advanced 0.8% to $3.30 per 1 million BTU.In corporate news, Chevron (CVX) has agreed to build a power plant in West Texas to supply electricity to a data center operated by Microsoft (MSFT) as part of a 20-year power purchase deal. Chevron shares rose 0.7%.BP (BP) and Eni's (E) joint venture Azule Energy approved the development of the Greater PAJ offshore oil project in Angola, Reuters reported, citing comments from company and government officials at a signing ceremony. BP and Eni shares added 1.5% and 1.3% respectively.American Resources (AREC) shares climbed 4% after the company said Monday the rare earth and critical mineral refining campus being built in Marion, Indiana, of its affiliated minority holding, ReElement Technologies, is expected to start commercial operations of its initial germanium production line in Q3.
Energy stocks were higher Monday afternoon, with the NYSE Energy Sector Index and the State Street Energy Select Sector SPDR ETF (XLE) each adding 1.1%.The Philadelphia Oil Service Sector Index increased 0.2%, and the Dow Jones US Utilities Index rose 0.8%.Oil prices fell after reports that Iran has agreed with the US to allow international nuclear inspectors back into the country. US Vice President JD Vance said Monday that Iran agreed to admit inspectors from the International Atomic Energy Agency in the country, according to media reports.Front-month West Texas Intermediate crude oil fell 2.9% to $73.69 a barrel, and the global benchmark Brent crude contract dropped 3.4% to $77.86 a barrel. Henry Hub natural gas futures advanced 1.9% to $3.29 per 1 million BTU.In corporate news, Chevron (CVX) has agreed to build a power plant in West Texas to supply electricity to a data center operated by Microsoft (MSFT), as part of a 20-year power purchase deal. Chevron shares rose 0.9%.
The Nasdaq Composite and S&P 500 were down, while the Dow Jones Industrial Average was up in late-morning trading Monday, as market participants assess the latest developments in negotiations between the US and Iran.The US Department of the Treasury on Monday said it has issued a general license authorizing the production, delivery, and sale of crude oil, petrochemical products and petroleum products of Iranian origin through Aug. 21.In company news, SpaceX (SPCX) has commenced its first offering of senior unsecured notes, the proceeds of which will be used to repay outstanding borrowings under its bridge loan facility and to pay related fees and expenses, the company said Monday in a regulatory filing. The remainder of the proceeds will go toward general corporate purposes, the filing said. Separately, SpaceX has signed a roughly $6.3 billion computing power agreement with Reflection AI, CNBC reported, citing materials it viewed. Under the deal, Reflection will get access to Nvidia (NVDA) GB300s and will pay SpaceX $150 million per month from July 1 through 2029, the report said. SpaceX shares were down 8.7% around midday, while Nvidia eased 0.3%.AbbVie (ABBV) has agreed to acquire Apogee Therapeutics (APGE) for $135.11 per share in cash for a total equity value of $10.9 billion, the companies said Monday. The acquisition includes Apogee's pipeline of multiple clinical-stage drug candidates for inflammatory and immunological diseases, they said. The deal is expected to close in Q3. AbbVie shares were up 5.9%, while Apogee shares were up 46.8%.Chevron (CVX) said Monday its Energy Forge One subsidiary has signed a 20-year power purchase agreement with Microsoft (MSFT) for a planned data center in West Texas to be operated by the tech giant. The data center, known as Project Kilby, is expected to eventually deliver about 2.67 gigawatts of capacity. Chevron shares were up 0.2%, while Microsoft was down 2.1%.Getty Images (GETY) said Sunday it has entered into a display agreement with OpenAI under which Getty content will be displayed within ChatGPT. Getty shares were up 110%.Meta Platforms (META) is investing $900 million in Cred, an Indian fintech startup, and it plans to appoint its founder, Kunal Shah, as the new leader of WhatsApp, Bloomberg reported Monday, citing a news release. Following the investment, Meta will own roughly 20% of Cred, which will be valued at $4.5 billion post-money, the report said. Meta shares were down 2.7%.Morgan Stanley (MS) has identified two sites within the city of Dallas for a phased approach to establishing a new large-scale operations hub, according to a city document. In the first phase, Morgan Stanley would invest about $96.9 million in real estate and business personal property improvements as part of a roughly 52-month lease of office space at a temporary location. For phase two, Morgan Stanley would invest about $684.2 million in real estate and business personal property improvements at a permanent location by the end of 2031. An additional estimated $650 million would then be expended by the developer/landlord to deliver the core and shell building at the permanent location, the document said. Morgan Stanley shares were up 1.7%.Price: $169.37, Change: $-15.64, Percent Change: -8.45%
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