American Electric Power Q1 Energy Delivery Mixed

-- US utility American Electric Power (AEP) on Tuesday reported its Q1 results, showing a decline over the year in energy delivered by vertically integrated utilities, and a rise in energy delivered by transmission and distribution utilities.

For the quarter ended March 31, the vertically integrated utilities segment delivered 27.777 terawatt-hours of energy, down from 28.725 TWh in the prior year, largely due to a 26% drop in wholesale volumes.

On the other hand, the transmission and distribution utilities segment delivered 26.990 TWh of energy in Q1, up from 24.194 TWh in the previous year, driven by a 33% rise in retail commercial sales.

The company said its incremental load is expected to expand to 63 gigawatts by 2030, following new load agreements, totaling 7 GW, signed in Q1.

American Electric also received a new contract award for 765-kilovolt transmission projects across SPP and PJM service areas.

To support growth, the firm said it raised its five-year capital plan to $78 billion from $72 billion, improving the compound annual growth rate of operating earnings by at least 9% through 2030.

Price: $137.14, Change: $+2.48, Percent Change: +1.84%

Market Chatter: SAP Plans to Grant AI Access to Customers Who Don't Use Cloud

SAP (SAP) intends to expand access to its artificial intelligence solutions to some customers who do not have their systems on its cloud services, Bloomberg reported Tuesday, citing people familiar with the matter.The SAP management team plans to announce the new offering at its Sapphire sales conference next week in Orlando, Florida, the report said, citing some of the people.SAP didn't immediately reply to a request for comment from.(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.)Price: $171.68, Change: $+3.18, Percent Change: +1.89%

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Update: Morgan Stanley Cuts Price Target on Norwegian Cruise Line to $20 From $23 on 'Weaker Net Yields', Keeps Equalweight Rating

(Updates with the analyst's commentary.)Morgan Stanley cut Norwegian Cruise Line's (NCLH) price target to $20 from $23, highlighting the company's deteriorating yields as reflected by the trimmed 2026 earnings per share outlook."The sudden change in yield guidance implies a material deterioration in a short window given ~80%+ of a quarter out is already booked," Morgan Stanley said in a Tuesday note.Morgan Stanley also expects a prolonged turnaround for Norwegian Cruise, the note said, adding that trends have fallen across cruise.Norwegian Cruise Line has an average rating of overweight and mean price target of $21.81, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www..com/contact-us)Price: $17.31, Change: $+0.11, Percent Change: +0.61%

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EQB Gets Federal Govt Approval to Acquire Loblaw's PC Financial

EQB (EQB.TO) has received Federal approval to proceed with its acquisition of PC Financial from Loblaw Companies (L.TO), the company said on Tuesday.The approval follows a recommendation from the Office of the Superintendent of Financial Institutions (OSFI), and Competition Bureau clearance in March.EQB announced last December that it was acquiring PC Financial in a deal valued at $800 million, in cash and shares. Loblaw would take a minimum 17% equity stake in the company, and EQB would become the exclusive financial partner of the PC Optimum loyalty program.The acquisition will see EQB expand its total customer base to 3.3 million Canadians and add $5.8 billion in assets and $800 million in direct retail deposits. EQB said it will be able to offer everyday banking, lending, payments, and rewards through a single integrated ecosystem to the more than 18 million active PC Optimum loyalty members.The acquisition is expected to close in the summer.EQB shares were last seen up $0.98, to $122.24, on the Toronto Stock Exchange. Loblaw shares are up $0.58, to 62.56.Price: $122.37, Change: $+1.11, Percent Change: +0.92%

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