9 hours ago
- Business
- Wall Street Journal
Heard on the Street Wednesday Recap: Striking Oil
What happened yesterday:
Shell is in talks to acquire rival BP. If consummated, it would be the biggest oil deal in a generation. BP shares spiked on the news before ending the day up 1.6%. Shell shares fell about 1%.
FedEx stock dropped. The shipping giant gave a gloomy earnings forecast and flagged a $170 million expected hit from a change in U.S. tariff rules that slowed shipments from China. The company's stock dropped 3.3%. Rival UPS fell 1.2%.
