-- 獨立研究機構CFRA向提供了以下研究報告。 CFRA分析師的觀點總結如下：Carpenter Technology公佈了2026財年第三季（截至6月）的業績，營業收入創歷史新高，達到1.865億美元（年成長35%，季增20%），每股盈餘為2.77美元，超越市場預期0.13美元；營收為8.115億美元，年比預期成長2%。 SAO業務部門的營業利潤率達到創紀錄的35.6%，高於上一季的33.1%，這主要得益於產品組合優化和定價策略。管理階層將2026財年的營業收入預期從6.8億至7億美元上調至7億至7.05億美元，增幅至少為33%，預計第四季營業收入為2.05億至2.1億美元。航太需求加速成長的跡象十分明顯，商業結構性訂單較上季成長，航空航太與國防業務收入成長17%至4.356億美元。儘管資本支出增加，經營現金流仍飆漲161%至1.935億美元，調整後自由現金流也增加267%至1.248億美元。我們認為，持續超過35%的利潤率、加速成長的長期合約以及強勁的現金流共同表明，在供應受限的特種材料週期中，卡朋特公司已從根本上重塑了其盈利能力。
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Commodities
Market Chatter: UAE Reportedly Reviews Multilateral Ties After OPEC Exit, But No Further Withdrawals Planned
The United Arab Emirates is reviewing its participation in multilateral organizations but is not considering any withdrawals at present, Reuters reported Wednesday, citing a UAE official.The report came a day after Abu Dhabi announced it would leave the Organization of the Petroleum Exporting Countries and OPEC+ effective May 1. The official said the broader review focuses on the "utility" of UAE membership in international and regional bodies.The comments have fueled speculation that the UAE could reassess its role in other organizations, including the Arab League and the Gulf Cooperation Council.The UAE Ministry of Foreign Affairs did not immediately respond to a request for comment from.The OPEC exit, which involves one of the group's largest producers, has sharpened tensions with Saudi Arabia, OPEC's de facto leader. Relations between Abu Dhabi and Riyadh, long-standing allies, have grown increasingly strained in recent years over oil policy disputes, regional security concerns, and competition for investment and skilled labor, Reuters reported.The reassessment comes amid wider debate in Abu Dhabi over regional alignments following the Iran war, with Emirati officials criticizing the GCC's collective response.Senior UAE official Anwar Gargash said on Monday the GCC's political and military response to the conflict was "the weakest in history," adding that expectations for the Arab League were already low."I expected such a weak position from the Arab League... but I have not expected it from the GCC, and I am surprised by it," Gargash reportedly said.He also said the Gulf's strategy to contain Iran had "failed miserably" and warned that Tehran could remain a long-term threat, according to The National.Gargash said the UAE would "scrutinize" its regional and international relationships to assess the reliability of partners while strengthening its economic resilience. "Strategic autonomy remains the UAE's enduring choice," he said.OPEC+ is expected to approve a modest output increase on Sunday despite the UAE's departure, three sources reportedly told Reuters. The group is likely to raise production targets by about 188,000 barrels per day, roughly in line with last month's 206,000 bpd hike after adjusting for the UAE's exit.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)
Oil & Energy
UAE Exit From OPEC Signals Oversupply Risk, Weaker Oil Prices From 2027, Wood Mackenzie Says
The UAE will exit OPEC on May 1, a move that raises risks of oversupply and weaker oil prices from 2027, Wood Mackenzie strategists said in a Wednesday note.The UAE announced its departure on April 28 after reviewing production strategy and capacity plans, aiming to accelerate domestic energy investments, the report noted.The country joined OPEC in 1967 and grew into its second-largest producer by liquids capacity, making the exit a major shift for the group, the report said."As the nation with the second-largest liquids capacity in OPEC, the UAE's exit is momentous," said Simon Flowers, chairman and chief analyst at Wood Mackenzie.He said tensions between the UAE and Saudi Arabia have built over recent years and intensified amid the Iran conflict, contributing to the decision."UAE's departure from OPEC will have minimal impact on market fundamentals in 2026," Flowers said, noting that Gulf producers need months to restore output even if the Strait of Hormuz reopens.He added that losing the UAE will make it harder for OPEC to balance markets and increase the risk of oversupply weakening prices beyond 2026.The UAE committed $145 billion to upstream investment through 2030 to lift output from under 4 million barrels per day in 2020 to 5 million b/d by 2027, Wood Mackenzie macro oils and upstream experts said.Capacity reached about 4.85 million b/d by 2024, widening the gap between production potential and OPEC+ quota limits, the experts said."OPEC+ quotas constrained output well below capacity," Alan Gelder, senior vice president at Wood Mackenzie, said.He said the group raised the UAE baseline from 3.17 million b/d to 3.5 million b/d in May 2022, but the adjustment reflected only partial capacity growth.The UAE accounted for about 14% of OPEC capacity, and its exit reduces the group's influence as it controls a smaller share of the global oil market, Wood Mackenzie said.The closure of the Strait of Hormuz has shut in nearly 2 million b/d of UAE offshore output, limiting supply growth in 2026, and restoring pre-conflict production may take up to six months.The UAE's exit will likely reshape supply dynamics from 2027, as rising market share competition with OPEC could pressure prices if both sides increase output, Wood Mackenzie said.Flowers said the UAE holds lower fiscal breakevens than peers, leaving it better positioned to withstand a prolonged period of lower oil prices.
Australia
Boston Scientific Shares Fall After Daiwa Securities Downgrade
Boston Scientific (BSX) shares fell 3.4% in Wednesday afternoon trading after Daiwa Securities downgraded the stock to neutral from outperform, and lowered its price target to $60 per share from $83 earlier.Trading volume stood at about 12.9 million shares, compared with a daily average of over 17.6 million.Price: $56.49, Change: $-1.96, Percent Change: -3.35%
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