Breakfast News: Chevron's Russian Oil Bid
January 7, 2026
| Tuesday's Markets |
|---|
| S&P 500 6,945 (+0.62%) |
| Nasdaq 23,547 (+0.65%) |
| Dow 49,462 (+0.99%) |
| Bitcoin $93,541 (-0.6%) |
Source: Image created by Jester AI.
1. Report: Chevron Targets Lukoil Assets
Chevron (CVX +1.25%) is lining up with private equity group Quantum Energy in a bid for sanctioned Russian oil company Lukoil's international assets, the Financial Times reports. Lukoil said last year it would sell its non-Russian operations.
- Assets reportedly worth $22 billion: The FT also puts Carlyle (CG 0.13%) and Abu Dhabi's International Holding Company in the bidding race, with Saudi Arabia's Midad Energy previously named as a contender.
- Dividend raised for 38 years in a row: Chevron's yield is forecast at 4.4%, following its 14th straight quarter of returning at least $5 billion to shareholders. "Energy is a popular theme for us," Dividend Investor advisors Matt Argersinger and Anthony Schiavone said as they named Chevron a Foundational Stock in December.
2. Top Tech News: Meta, Discord
The FT also reports Chinese officials are probing Meta's (META 1.03%) acquisition of AI start-up Manus, for possible violations of export control laws. Relocating staff and technology to headquarters in Singapore might need a license, it says.
- Deal worth $2-$3 billion: Meta plans to integrate Manus AI tech – reportedly capable of more autonomous operation than rivals like ChatGPT – into its own offerings.
- 200 million monthly users: Chat platform Discord has confidentially filed for IPO, according to a Bloomberg report. Popular with gamers, the company was valued at around $15 billion in its 2021 funding round.
3. D-Wave Quantum Advance
D-Wave (QBTS 2.78%) has made a breakthrough in the drive to build larger, commercially viable quantum computers, the company has announced. Quantum bits (qubits) need to be held near absolute zero, with the new technology enabling cryogenic on-chip control.
- "Impractically large amount of wiring and massive cryogenic enclosures": Chief development officer Trevor Lanting told Barron's of the difficulties – adding the new approach uses less wiring and support hardware, and is more viable outside the lab.
- Up 200% in the past 12 months: Together with technology revealed at this week's CES, the news helped push D-Wave stock up 20% in the first few days of 2026.
4. Next Up: STZ, JEF, Jobs Data
Constellation Brands (STZ +6.62%) is due to report third-quarter earnings after market close, after beating earnings expectations in Q2. Analysts expect an 18% reported earnings dip this time, with revenue down more than 11%, as weak wine and spirits markets – together with rising costs – continue to bite.
- Beating the S&P 500 by over 80% across the past 5 years: After Stock Advisor rec Jefferies (JEF 4.84%) posted record revenue in Q3 to beat expectations, forecasters are more cautious for Q4 – also out after the closing bell – with a 2.8% revenue rise on the cards this time.
- Employment updates due today ahead of Friday's jobs report: The December ADP report on private sector employment is expected to show a modest gain of 48,000 jobs following a dip in the prior month, with November job openings thought to have been steady at around 7.6 million.
5. Your Take
In 2018, Leucadia National officially changed its name to Jefferies Financial Group. Along with the name change, the company sold off many of Leucadia's legacy non-financial assets (such as its stakes in beef processing and auto dealerships) to focus almost exclusively on investment banking and capital markets.
Discuss with friends and family which companies have transformed their identity and business mix over time, and which you believe has a bright future from here, or become a member to hear what your fellow Fools are saying.
