-- Onto Innovation (ONTO) has an average rating of Buy and mean price target of $312.14, according to analysts polled by FactSet.
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Exxon Mobil (XOM) is considering a sale of its Esso-branded gas station network in Hong Kong, with the assets valued at about $500 million to $600 million, Bloomberg reported Wednesday, citing people familiar with the matter.The move is part of Exxon's broader effort to streamline its global retail footprint as it reviews downstream assets in markets including France, New Zealand, and Hong Kong, the report said.Exxon Mobil didn't immediately respond 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.)
Reckitt Benckiser Group (RKT.L) shares slipped over 5% in London by Wednesday midday, as the company's first-quarter revenue was weighed down by headwinds, including a sustained low illness rate during the cold and flu season.For the three months ended March 31, the UK-based consumer goods giant's group IFRS net revenue fell 11.8% to 3.25 billion pounds sterling, driven by negative currency fluctuations and the loss of sales from the recently sold Essential Home business. The first-quarter performance was also impacted by persistent market headwinds in Europe and regional instability affecting Middle Eastern operations and supply.Meanwhile, like-for-like growth was 0.6% higher, bolstered by a 7.6% jump in net revenue in Emerging Markets. Growth in two of the group's biggest markets was partly offset by pressures in the Middle East, North Africa, Russia, and Pakistan region. On the other hand, Reckitt saw a 4.2% decline in Europe and a 0.9% dip in North America.Within this context, the company reiterated its guidance range of between 4% and 5% for Core Reckitt's full-year 2026 like-for-like revenue growth. Management anticipates that a normalized cold and flu cycle and a pipeline of new products will provide the lift needed to counter headwinds from the ongoing conflict in the Middle East.Should oil average $110 per barrel through year-end, Reckitt projects an increase in input costs ranging from 130 million pounds to 150 million pounds, though the company views the expense as "manageable." The group plans to offset the costs through supply chain efficiencies, hedging, and strategic pricing, while noting that sustained high commodity prices could eventually dampen consumer demand as household spending power tightens."We maintain our LFL net revenue guidance for 2026. This will be driven by sequential growth from our market-leading Powerbrands, as the season resets and we continue to launch superior innovations including Mucinex 12hr Cold and Fever, improved performance in Europe and continued strong growth across China, India and non-seasonal North America," Chief Executive Officer Kris Licht said.Analysts at RBC Capital Markets adopted a negative sentiment on Reckitt's update, noting a 280-basis-point shortfall in Emerging Markets growth relative to consensus, along with a lack of clarity regarding its margin outlook."Reckitt's FY guidance around margin remains vague 'maintaining our expectation for Group adj. operating profit margin, with the delivery of this weighted to H2'. H1 adj. operating profit margin is guided to be c.200 [basis points] lower yoy, albeit H2 margin should improve due to greater stranded cost mitigation, actions to offset commodity price inflation and the reset of cold & flu," the research firm wrote, adding that the company's sales outlook is "at the higher end of what we believe Reckitt can do, but we welcome the fact that Reckitt has avoided the sector default guidance of 4-6%."
Wiwynn (TPE:6669) awarded a mechanical and electrical (M&E) engineering deal worth NT$980 million for its new headquarters project in Taipei, Taiwan, to Taiwan Power Engineering.The project is part of a previously approved plan to build a headquarters on leased land, with a total budget capped at NT$4 billion, according to a Wednesday Taiwan Exchange filing.The contract will not have a material impact on the company's financial or business operations, the cloud IT infrastructure provider said.