The following video is from Monday's MarketFoolery podcast, in which host Chris Hill, along with analysts Jason Moser and Matt Argersinger, discuss the top business and investing stories of the day.
General Electric (NYSE:GE) announced on Monday that it's buying oilfield services firm Lufkin Industries (UNKNOWN:UNKNOWN) for $3.3 billion. Shares of Lufkin were up sharply on the news, but shares of GE were down. Did GE overpay? What does the deal mean for investors going forward? In this installment of MarketFoolery, our analysts talk about what the deal means for investors and discuss some other oil stocks on their radar.
The relevant video segment can be found between 0:38 and 5:41.
Chris Hill, Jason Moser, and Fool contributor Matthew Argersinger have no position in any stocks mentioned. The Motley Fool recommends Halliburton and National Oilwell Varco and owns shares of General Electric and National Oilwell Varco. Try any of our Foolish newsletter services free for 30 days. We Fools don't all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.