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****** MONDAY, FEBRUARY 1, 2021 ~ VOL. CCLXXVII NO. 25 WSJ.com HHHH $4.00
Last week: DJIA 29982.62 g 1014.36 3.3% NASDAQ 13070.69 g 3.5% STOXX 600 395.85 g 3.1% 10-YR. TREASURY unch , yield 1.090% OIL $52.20 g $0.07 EURO $1.2138 YEN 104.69 Thousands Arrested in Protests in Russia What’s CEOs Explored News Chevron-Exxon Business&Finance Merger in ’20 xxon and Chevron’s Echief executives spoke about combining the oil gi- The chief executives of people said. The discussions ants after the pandemic Exxon Mobil Corp. and Chevron were described as preliminary shook the world last year, Corp. spoke about combining and aren’t ongoing but could according to people famil- the oil giants after the pan- come back in the future, the iar with the talks, testing demic shook the world last people said. the waters for what could year, according to people famil- Such a deal would reunite be one of the largest cor- iar with the talks, testing the the two largest descendants of porate mergers ever. A1 waters for what could be one John D. Rockefeller’s Standard of the largest corporate merg- Oil monopoly, which was bro- Hedge fund Melvin, ers ever. ken up by U.S. regulators in which has borne the brunt of 1911, and would reshape the en- losses from the recent soar- Christopher M. ergy industry. ing prices of heavily shorted By Matthews A combined company’s mar- stocks, lost 53% on its in- , Emily Glazer ket value could top $350 bil- vestments in January. A1 Cara Lombardo lion. Exxon has a market value Citadel Securities, one and of $190 billion, while Chevron’s of the biggest players in Chevron Chief Executive is $164 billion. Together, they global markets, stands to Mike Wirth and Exxon CEO would likely form the world’s benefit from the frenetic Darren Woods discussed a second largest oil company by trading of small investors merger following the outbreak market capitalization and pro- in stocks like GameStop. B1 of the new coronavirus, which duction, producing about seven Amazon is preparing for a decimated oil and gas demand million barrels of oil and gas a labor battle unlike anything and put enormous financial day, based on pre-pandemic in its history after having strain on both companies, the PleaseturntopageA2 for years successfully re- pelled attempts by its U.S. employees to unionize. B1