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European natural gas futures edged higher on Thursday, trimming earlier gains in after-hours trading but still closing the session in positive territory as geopolitical tensions around the Strait of Hormuz continued to underpin sentiment.Front-month Dutch TTF contracts rose 2.29% to 44.55 euros ($52.14) per megawatt hour, while UK NBP futures advanced 2.31% to 110.94 British pence ($1.50) per therm.Earlier in the session, the front-month Dutch TTP price had briefly climbed toward 45.85 euros/MWh before easing, though it extended a four-session winning streak, according to Trading Economics.The market was underpinned by heightened concerns over maritime security in the Strait of Hormuz, a critical chokepoint for global energy flows, after US President Donald Trump said he had ordered the US Navy to "shoot and kill any boat" laying mines in the area. Trump also claimed Iranian naval assets had been sunk and that US minesweepers were operating to clear the waterway.However, a Pentagon assessment submitted to Congress and reported by The Washington Post estimated it could take at least six months to fully clear any mines from the Strait, underscoring ongoing supply risk perceptions.On the supply side, data from Gas Infrastructure Europe showed EU gas storage levels at 30.70% of capacity, compared with 37% a year earlier, as the injection season continues ahead of winter. The European Union has also said it will introduce greater flexibility in gas storage filling requirements under a proposed framework aimed at easing the impact of volatile energy prices.Weather outlooks added further uncertainty. Atmospheric G2 noted that European forecasts remain mixed, with some models pointing to warmer conditions into early May while others continue to signal potential incursions of colder air, leaving no clear trend for sustained warmth.The Wall Street Journal reported that Europe continues to import liquefied natural gas above seasonal norms despite recent price declines, citing ANZ Research. The firm said this has contributed to stronger buying interest in South Asia and heightened competition for cargoes.
Lockheed Martin's (LMT) first-quarter earnings decreased more than expected, while its sales fell short of market estimates, sending the defense contractor's shares lower Thursday.Earnings dropped to $6.44 a share for the March quarter from $7.28 a year earlier, below the FactSet-polled consensus of $6.73. Sales rose to $18.02 billion from $17.96 billion, but missed Wall Street's views for $18.22 billion.The bottom line decline was due to lower profit and marked market losses, while sales were impacted by a shortened fiscal period versus the prior year, Chief Financial Officer Evan Scott said during an earnings call Thursday, according to a FactSet transcript."First-quarter 2026 results also reflect unfavorable performance adjustments at aeronautics associated with F-16 and C-130," Scott said. "Design and development delays temporarily impacted F-16."Lockheed Martin shares were down 5.4% in afternoon trade, bringing its year-to-date to gains to 8.7%.First-quarter revenue in the rotary and mission systems business fell to about $3.99 billion from $4.33 billion sequentially, while the aeronautics division saw a 1% drop. Sales in the missiles and fire control business grew 8%, while the space segment posted a 7% gain.The company continues to expect 2026 EPS between $29.35 and $30.25 and sales to be in a range of $77.50 billion to $80 billion. The Street is looking for EPS of $29.92 and sales of $79.22 billion."We expect sales to grow in the second quarter and throughout the remainder of the year, supporting our full-year growth outlook," Scott told the analysts.Lockheed Martin recently signed a $1.5 billion contract with the Peruvian Air Force for 12 Block 70 F-16 fighter aircraft, with an opportunity for "a second squadron" of 12 additional jets, Chief Executive Jim Taiclet said on the call.Earlier in the week, aerospace and defense companies RTX (RTX) and Northrop Grumman (NOC) recorded stronger-than-expected results for the first quarter.Price: $530.17, Change: $-25.27, Percent Change: -4.55%
CIBC Capital Markets maintained its outperformer rating and price target of US$28.00 on the shares of Docebo (DCBO.TO, DCBO) following the company's annual Inspire user conference in Miami.The bank noted the company preannounced "stronger-than-expected" preliminary first-quarter expectations, raised 2026 guidance, and announced several enhancements to the core platform and a number of AI-enabled product releases at the conference. The increase in outlook, the bank believes, is directly attributed to strength in the underlying enterprise business and includes two more-than $1 million enterprise expansion deals signed in Q1."Overall we came away from the conference increasingly confident in F2026 (increased) guidance, supported by solid underlying ARR growth and a refreshed go-to-market and product strategy that refocuses on enterprise and consistent platform improvement," said analyst Erin Kyle. "We continue to view shares as attractively valued, trading at 7.3x 2027E EV/EBITDA and 1.6x 2027E EV/Sales which is a discount to small-cap SaaS peers at ~8x and ~2x, respectively."CIBC expects double-digit growth in annual recurring revenue (ARR) to continue to be supported by growth in the underlying business, with a gradually declining impact from Dayforce churn offset by high double-digit ARR growth from the 365Talents business, as the year progresses. It revised its estimates to reflect stronger-than-expected Q1 results and raised full-year guidance for consolidated revenue, subscription revenue and adjusted EBITDA.For fiscal 2026, CIBC forecast subscription revenue growth of 11% and adjusted EBITDA margins of 20.3% for the full year. It also increased its adjusted EBITDA estimate for fiscal 2027 and now model margins of 22.2%."We expect margin expansion should be supported by continued operating leverage in G&A and S&M as the company leverages AI internally," added Kyle.Price: $24.24, Change: $-2.00, Percent Change: -7.62%