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Jim Cramer's Thoughts on Anadarko, Bank Earnings and Disney's Bob Iger

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It's Friday...

Here's what Jim Cramer's watching in the markets as the week winds down.

Chevron's Acquisition of Anadarko

Chevron (CVX) - Get Chevron Corporation Report said Friday it plans to buy Anadarko Petroleum (APC) - Get Anadarko Petroleum Corporation Report for $33 billion in cash and stock, reported TheStreet's M. Corey Goldman.

Chevron said it will pay $65 a share to Anadarko shareholders, who will receive 0.3869 a share of Chevron and $16.25 in cash for each Anadarko share.

The total enterprise value of the transaction is $50 billion.

The deal comes amid a rebound in global oil prices, fuelled in large part by bets among investors that OPEC supply cuts, sanctions on Iran and Venezuela and escalating military tensions in Libya will continue to support markets.

Bank Earnings

Both JPMorgan Chase (JPM) - Get JP Morgan Chase & Co. Report and Wells Fargo (WFC) - Get Wells Fargo & Company Report reported earnings Friday morning, which kicked off bank earnings.

JPMorgan Chase said first-quarter profit rose faster than expected, as the largest U.S. bank used a lower-than-expected tax rate, expense controls and growth in credit-card loans to overcome a slump in bond- and stock-trading, reported TheStreet's Bradley Keoun.

Net income rose by 5% from a year earlier to $9.18 billion, or $2.65 a share, New York-based JPMorgan said Friday in a statement. Analysts surveyed by FactSet had estimated the figure at $2.35.

JPMorgan was the first big U.S. bank to post results for the quarter, a period in which the U.S. government shut down for 35 days, the longest period in American history, and concerns mounted among many economists that growth is slowing both in the U.S. and globally.

Related. Jim Cramer: Here's My Earnings Cheat Sheet for the Bank Stocks

Disney's Bob Iger Is Stepping Down

Disney (DIS) - Get The Walt Disney Company Report CEO Bob Iger said he plans to step down at the end of 2021 when his current contract ends.

Iger made the announcement near the conclusion of Disney's investor day presentation devoted to unveiling Disney+.

Iger has been CEO of Disney since 2005.

Related. Anadarko Deal Rewards Shareholders Betting on the Beleaguered Stock in 2019

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