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 (NASDAQ: LUFK) 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.