Welcome to See King Alpha's Wall Street breakfast, where we cover the top news for investors every morning.

Good morning. Today is Thursday, May 2nd. I'm Julie Morgan. The FTC will reportedly approve the deal between ExxonMobil

and Pioneer.

Carvana delivers the best results in company history, and Google announces even more layoffs.

Reports say the Federal Trade Commission is poised to approve ExxonMobil's 60 billion dollar purchase of pioneer natural resources.

Bloomberg reported Wednesday that the companies agreed to minor concessions and an announcement

is likely within days.

But according to Politico, the FTC is set to green light the deal, but on the condition that Pioneer founder and former CEO Scott Sheffield not serve as planned on Exxon's board.

Pioneer and other Permean Basin producers have faced allegations in a class action lawsuit

of collusion with OPEC to limit oil supplies in Sheffield,

while not a defendant has factored prominently

in the complaint, according to Politico.

Exxon agreed in October to buy Pioneer

in an all-stock deal valued at $59.5 billion.

Carvana swung to a net income of $49 billion in Q1 from a loss of $286 million a year ago.

Meanwhile, its revenue jumped 17.2% year over year

to 3.06 billion, beating the consensus estimate

by nearly 400 million.

Carvana's top boss, along with its finance chief, said in a letter to shareholders

that in Q1 they achieved a net margin of 1.6% and a company record adjusted EBITA margin of 7.7%.

They said by the latter measure for the first time they became the most profitable public automotive retailer in the US.

Turning to Carvana's guidance for Q2,

...