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Chevron Acquires Hess; FMC, Ultra Clean Stocks Fall, EngageSmart and Textainer Rise after Acquisition News

Chevron's purchase of Hess in a $53 billion all-stock deal influences numerous market changes; FMC Corp. and Ultra Clean Holdings struggle after anticipations for third-quarter results plummet due to unforeseen circumstances while EngageSmart and Textainer shares surge after news of acquisitions by Vista Equity Partners and Stonepeak.

Overview

  • Chevron Corp. will purchase Hess in an all-stock deal valued at $53 billion, causing Chevron's shares to decline.
  • FMC Corp. experienced a drop in stock due to drastically reducing its forecasts for third-quarter results because of falling sales in Latin America.
  • Ultra Clean Holdings Inc., a producer of subsystems for the semiconductor industry, saw its stocks fall after announcing that it expects lower than predicted earnings for the latest quarter.
  • EngageSmart Inc., a business software company, agreed to be acquired by Vista Equity Partners for $23 per share in cash, leading to a surge in EngageSmart's shares.
  • Textainer Group Holdings Ltd., a shipping container leasing firm, agreed to an acquisition by investment firm Stonepeak for $50 a share cash, resulting in a rise in Textainer's shares.