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Dominion Energy (D) has an average rating of hold and mean price target of $68, 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)
The Standard & Poor's 500 index rose 0.9% this week, its eighth consecutive week of gains, amid upbeat trading heading into the holiday weekend.The S&P 500 ended Friday's session at 7,473.47, close to the record closing high it reached last week of 7,501.24.This marks the longest weekly winning streak since a nine-week run that ended in December 2023. The index is now up 3.7% for May and has climbed 9.2% in 2026.Government data this week showed US housing starts decreased less than estimated in April amid a jump in multi-family projects, while the single-unit component declined. Separate data from the National Association of Home Builders and Wells Fargo also showed US homebuilder confidence unexpectedly rose in May despite elevated mortgage rates, macro uncertainty and continued affordability challenges.US consumer sentiment, however, declined to a fresh record low in May amid fears that high gasoline prices could erode purchasing power, the University of Michigan said Friday. The main sentiment index tumbled 10% to 44.8 from last month. The consensus in a Bloomberg-compiled poll was for May's print to stay unchanged from a preliminary 48.2 estimate.The health care and utilities sectors led the gainers this week, climbing 3.3% each, followed by a 3% boost in real estate, a 1.9% gain in consumer discretionary and a 1.6% rise in financials. Technology, industrials and materials also edged higher.DexCom (DXCM) had the largest percentage increase in health care, jumping 17% on the week. The company announced the launch of its Dexcom Flex, a continuous glucose monitoring system for adults with Type 2 diabetes who are not using intensive insulin therapy, in Germany.The utilities sector's top gainers included shares of Dominion Energy (D), which unveiled an agreement to merge with NextEra Energy (NEE) in an all-stock deal to create the largest regulated electric utility in the world. Dominion shareholders will receive a 25.5% stake in the combined entity, while NextEra's shareholders will own about 74.5% of the merged company. Dominion's stock climbed 9.6% while NextEra, the only weekly decliner in the sector, lost 5.2%.Communication services fell 1.9%, while consumer staples shed 1% and energy edged down 0.4%.The hardest-hit stocks in communication services included shares of Take-Two Interactive Software (TTWO), which fell 6.1% on the week. The company posted a narrower-than-expected fiscal Q4 loss on higher-than-expected revenue but its fiscal 2027 guidance came in below analysts' mean estimates.Next week will have just four trading days as the US stock market will be closed on Monday for Memorial Day.Earnings reports are expected from companies including Costco Wholesale (COST), Dell Technologies (DELL) and Salesforce (CRM).Economic data will include the April personal consumption expenditures index, which is the Federal Reserve's preferred inflation measure, on Friday. Other reports will include May consumer confidence, April new home sales, and the second revision to Q1 gross domestic product.
NextEra Energy (NEE), the world's largest electric utility, has reportedly agreed to acquire Caliber Resource Partners, a US-focused oil and gas investment firm, in a $1.3 billion deal, according to a Reuters report, citing four separate sources familiar with the matter.Additionally, NextEra will setting up a joint venture with Caliber's private equity backer, Quantum Capital Group, to manage the former's US shale assets.This comes just days after the company announced its merger with Dominion Energy (D), in a deal worth $67 billion, making the combined entity, the largest supplier of power to data centers.Under the deal, a NextEra subsidiary would acquire Caliber's portfolio of passive interests across multiple US onshore shale assets. These non-operated stakes allow investors to receive production revenue while avoiding direct responsibility for drilling operations.The new joint venture with Quantum will focus on additional investments aimed at expanding NextEra's portfolio of natural gas producing assets.This comes amid soaring energy demand from AI data centers, with natural gas-fired power generation emerging as a key source of supply.Neither NextEra, nor Quantum Capital Group immediately responded to' request for a comment on this story.(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.)
CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:We see more favorable risk/reward for D vs. NEE. For now, our base case assumes the merger falters on regulatory hurdles. In this situation, we don't expect D shares to fall to the ~$62 pre-announcement price due to the $4.83B breakup fee D will receive if the deal falls through. In the simplest situation, the cash influx equates to a ~$5.50 per share valuation boost, where we see a rough valuation floor around $67. D could deploy the breakup fee to reduce debt, lower future financing needs for its capital plan, pursue bolt-on acquisitions, or return capital to shareholders. Based on May 19 closing and the .8138 exchange ratio, the market is pricing in a ~7.6% risk premium for deal failure. We expect that to narrow on positive developments. Currently, we see a valuation ceiling of ~$86 based on our $106 NEE price target. We lift our 12-month target by $8 to $72, 20.0x our next-12-month EPS estimate of $3.58. Our 2026 and 2027 EPS views are kept at $3.59 and $3.81 respectively and reflect standalone D.
NextEra Energy's (NEE) $67 billion acquisition of Dominion Energy (D) will likely create value for shareholders over the long term, DA Davidson analysts said in a note to clients Tuesday.DA Davidson is not yet adjusting price targets for NextEra, citing the deal's expected 12- to 18-month closing timeline.The successful long-term integration of Dominion Energy could drive shareholder value "fairly quickly" after deal completion, analysts said.The firm cited NextEra's strong execution track record in the regulated utilities sector and its favorable balance sheet as supporting factors.Analysts said the "addition of attractive jurisdictions for data center growth could result in a higher-growth profile for the combined company."On Monday, NextEra Energy offered to acquire Dominion Energy in an all-stock transaction.The deal would create the largest utility merger in US history, according to the note.The combined company would carry an enterprise value of about $420 billion and a market capitalization of about $249 billion under the proposed transaction structure.Dominion shareholders will receive 0.8138 shares of NextEra Energy valued at $75.98 per share, representing about a 23% premium to Dominion's May 15 closing price of $61.73.The transaction also includes the current quarterly dividend through closing, a one-time $360 million cash payment, the note added.NextEra shareholders would own about 74.5% of the combined company after closing, while Dominion shareholders would hold the remaining 25.5%.NextEra CEO John Ketchum will continue leading the combined company, while Dominion CEO Robert Blue will become CEO of NextEra Energy Regulated Utilities.Dominion's Virginia, North Carolina and South Carolina utility operations will keep their existing names, while the merged company will maintain headquarters in Juno Beach, Florida and Richmond, Virginia.Management said the merger should help meet rising electricity demand while maintaining affordable power prices across the combined company's regulated utility footprint, including Virginia, North Carolina and South Carolina.The deal is expected to increase NextEra's regulated business mix to about 80% from roughly 70%, according to the note.It will also support more than 9% annual adjusted EPS growth through 2035, maintain 6% annual dividend growth through 2028 and potentially improve Dominion's credit ratings, analysts said.Management said NextEra and Dominion built more power generation over the past five years than the next 25 largest US utilities combined.The merger is also expected to improve project costs and timelines, support about $59 billion in annual capital spending between 2027 and 2032, and expand artificial intelligence and data analytics capabilities, according to the management.DA Davidson maintained a $105 price target on NextEra based on a roughly 26-times price-to-earnings multiple applied to its 2026 adjusted earnings-per-share estimate of $4.05.The firm set an upside case target of $125 using a 30-times multiple and a downside case target of $75 using a 20-times multiple, while citing execution risks, interest rates and inflation pressures.
The NextEra Energy (NEE) and Dominion Energy (D) merger likely faces a lengthy regulatory review in Virginia, RBC Capital Markets said in a note emailed Tuesday.The companies announced an all-stock deal on Monday that would create the largest regulated electric utility in the world. Dominion's shareholders will hold a 25.5% stake in the combined entity.The expected statutory timeline in Virginia is up to six months, Dominion Chief Executive Robert Blue said during a conference call on Monday, according to a FactSet transcript. "If we expect to file in July, then you're looking at a decision from the Virginia (State Corporation) Commission in January," he said.RBC expects the Virginia commission to take the full time before deciding on the application, in line with how it has handled past deals, analyst Stephen D'Ambrisi said in the note. Dominion unit Virginia Electric and Power Co.'s size relative to companies involved in prior mergers is another reason this regulatory process may take time.The companies said they plan to offer $2.25 billion in bill credits for Dominion customers in Virginia, North Carolina and South Carolina over a two-year period after the deal completes.That move is aimed at trying to get ahead of "potential regulatory pushback," D'Ambrisi said.Regulators are also expected to scrutinize the combined company's New England Power Pool position for potential divestiture requirements, RBC said.NextEra's Seabrook facility in New Hampshire and Dominion's Millstone facility in Connecticut control more than 10% of the New England Power Pool's generating capacity, according to the RBC note.RBC reiterated its sector perform rating on Dominion's stock and raised the price target to $72 from $66 to reflect the implied deal consideration.Price: $89.67, Change: $+0.63, Percent Change: +0.71%
Dominion Energy (D), which has agreed to be acquired by NextEra Energy (NEE), faces a lengthy regulatory review in Virginia and possible asset-sale requirements before the deal can close, RBC Capital Markets said Monday in a report.The Virginia State Corporation Commission is expected to take the full 180-day review period because Dominion's subsidiary, Virginia Electric and Power Company, is the state's dominant utility, giving regulators a large and complex system to evaluate, the report said.Regulators may push for divestitures tied to the New England Power Pool, RBC said, noting that NextEra owns the Seabrook nuclear plant in New Hampshire and Dominion owns Millstone in Connecticut. Together, the two facilities account for more than 10% of the region's generating capacity, a level that could raise competition concerns, the report said.RBC raised its price target on Dominion stock to $72 from $66 and reiterated its sector-perform rating.Price: $68.09, Change: $+0.53, Percent Change: +0.78%
NextEra Energy's (NEE) all-stock merger with Dominion Energy (D) is expected to create a $400 billion enterprise value utility and energy infrastructure company uniquely positioned to capitalize on the massive power demands of data centers, Morgan Stanley said in a report Tuesday.The deal offers "modest" near-term earnings "accretion" and supports projected long-term earnings per share growth of more than 9% through 2035, the firm said. NextEra shareholders will own roughly 74.5% of the combined company, the report noted.The investment bank said the main driver of the deal is sheer "scale," which is becoming critical as data centers grow larger and supply chains tighten. The combined entity is expected to boast a pipeline of more than 130 gigawatts of "large-load customer" demand, according to the report.Morgan Stanley maintained an overweight rating on NextEra Energy and raised its price target to $115 from $107, noting that the deal is expected to close within 12 to 18 months, pending federal and state regulatory approvals.Price: $89.01, Change: $-0.04, Percent Change: -0.04%
US equity indexes closed mixed, albeit off session lows, as President Donald Trump agreed to delay a "large-scale" attack on Iran on Tuesday at the request of leaders from the Middle East negotiating with Tehran.The Nasdaq Composite fell 0.5% to 26,090.73, with the S&P 500 down less than 0.1% to 7,403.05 on Monday. The Dow Jones Industrial Average rose 0.3% to 49,686.12. Technology and industrials led decliners at the close. Energy, financials, and consumer staples were among the top gainers.President Trump will "hold off" on a Tuesday plan to attack Iran, citing a request from Qatar, Saudi Arabia, and the United Arab Emirates as he said negotiations to end the war grow more "serious," CNN reported Monday. "This Deal will include, importantly, NO NUCLEAR WEAPONS FOR IRAN," Trump was cited as saying.Trump also instructed his leadership "to be prepared to go forward with a full, large-scale assault of Iran, on a moment's notice" if a deal isn't reached, according to the president's Truth Social post.Meanwhile, Iran offered an updated peace proposal, which the White House adjudged lacking meaningful improvement over the previous offer, rendering the latest version insufficient to reach a deal to end the war, a senior US official and a source briefed on the issue told Axios.Separately, the US has agreed to release a quarter of Iran's frozen funds - totaling tens of billions of dollars - held in foreign banks, a senior Iranian source told Reuters. Washington has shown more flexibility in allowing Iran to continue some peaceful nuclear activity under the supervision of the International Atomic Energy Agency, the source told the news agency.West Texas Intermediate crude oil futures climbed 1% to $106.48, and Brent crude futures fell 0.4% to $108.83.US Treasury yields slipped after trading mixed earlier in the session. The 10-year was little changed at 4.59%, the highest in about a year. The 30-year rate was steady at 5.13%, the strongest level since 2007.In precious metals, gold futures rose 0.2% to $4,568.8, and silver futures climbed 0.5% to $77.97, clawing back all declines from earlier in the session.In economic news, the National Association of Home Builders' monthly housing market index rose to a reading of 37 in May from 34 in April, compared with expectations for a 34 print in a survey compiled by Bloomberg. The index was above the 34 print reported a year earlier.The New York Federal Reserve's services index improved to minus 5.8 in May from minus 14.0 in April, the highest level since January 2025. The index is the first services sector reading for May and suggests a slower contraction.In company news, NextEra Energy (NEE) and Dominion Energy (D) agreed to merge in an all-stock deal to create the world's largest regulated electric utility. Shares of Dominion jumped 9.4%, the second-biggest gainer on the S&P 500.Regeneron Pharmaceuticals' (REGN) miss on the fianlimab trial may lead some investors to question the company's broader strategy and execution, RBC Capital Markets said. Regeneron's shares sank 9.8%, the steepest decline on the S&P 500 and the Nasdaq.
US equity markets closed mixed Monday as President Donald Trump said the US was postponing a plan to attack Iran on Tuesday.The Nasdaq Composite declined 0.5% to 26,090.7, while the Dow Jones Industrial Average rose 0.3% to 49,686.1. The S&P 500 closed 0.1% lower at 7,403.1. Most sectors were in the green, led by energy, while technology saw the steepest decline.Trump said the US will hold off on its planned military attack against Iran that was previously scheduled for Tuesday, according to his social media post on Monday.Trump said Middle Eastern leaders, including Saudi Arabia Crown Prince Mohammed bin Salman, asked the US president to call off the attack amid "serious" ongoing negotiations to end the Washington-Tehran conflict.Trump, however, cautioned that the US will "go forward with a full, large scale assault of Iran" if a deal is not reached.Brent crude fell 0.4% to $108.85 per barrel in Monday late-afternoon trade, while West Texas Intermediate crude was last up 0.9% at $106.34 per barrel.Trump's latest rhetoric follows reports that Iran had provided an updated proposal for a deal to end the war. The White House indicated it doesn't reflect a meaningful improvement from a previous offer, Axios reported Monday, citing a senior US official and a source briefed on the matter.The Strait of Hormuz -- the world's most important chokepoint for crude flows -- remains largely shut as tensions between the US and Iran continue, with no end in sight."Progress on US-Iran peace talks continues to be immaterial, with both parties expressing a willingness to resume overt hostilities if the talks fail," Tudor Pickering Holt Analyst Matt Portillo said in a note sent earlier in the day.US Treasury yields were little changed in Monday late-afternoon trade, with the 10-year rate at 4.59% and the two-year rate at 4.07%.Nvidia (NVDA) shares fell 1.3%, the second-worst performer on the Dow. The chipmaking giant is expected to exceed Wall Street's first-quarter estimates and guide above consensus amid positive data points, Wedbush Securities said.Nvidia is scheduled to release its latest quarterly results after the markets close Wednesday.Retail giants Walmart (WMT), Home Depot (HD), TJX (TJX), Lowe's (LOW) and Target (TGT) are also expected to report this week. Home Depot and Lowe's are likely to lower their full-year guidance as the home improvement retailers face pressure from weak consumer sentiment, Oppenheimer said in a note.NextEra Energy (NEE) and Dominion Energy (D) agreed to merge in all-stock deal to create the largest regulated electric utility in the world. Dominion shares jumped 9.4%, the second-biggest gainer on the S&P 500, while NextEra fell 4.6%.In economic news, US homebuilder confidence unexpectedly rose this month despite elevated mortgage rates, macro uncertainty and continued affordability challenges, data from the National Association of Home Builders and Wells Fargo showed."Soft homebuilder sentiment is consistent with our view that housing starts will mostly move sideways for the next couple of quarters before starting to edge up slightly around year-end, when we expect mortgage rates to be lower as the (Federal Reserve) implements the first of two rate cuts we expect," Oxford Economics said in a note.Gold was up up 0.1% at $4,564.40 per troy ounce in Monday late-afternoon trade, while silver rose 0.3% to $77.80 per ounce.
Energy stocks were higher late Monday afternoon, with the NYSE Energy Sector Index rising 1.8% and the State Street Energy Select Sector SPDR ETF (XLE) adding 1.7%.The Philadelphia Oil Service Sector Index was climbing 3.2%, and the Dow Jones US Utilities Index was down 0.5%.Crude oil prices rose Monday amid a lack of progress on US-Iran peace talks. Iran has submitted its new proposal to end the war, but the White House believes it fails to offer meaningful improvements on the last offer, Axios reported Monday, citing a senior US official and a source briefed on the issue.Front-month West Texas Intermediate crude oil was rising 1% to $106.42 a barrel, and the global benchmark Brent crude contract was advancing 0.4% to $109.70 a barrel. Henry Hub natural gas futures rose 2% to $3.02 per 1 million BTU.In corporate news, NextEra Energy (NEE) and Dominion Energy (D) said they have agreed to merge in all-stock deal to create the largest regulated electric utility in the world. Dominion's shareholders will get 0.8138 of NextEra's shares for each share owned, giving them a 25.5% stake in the combined entity, they said, adding that NextEra's shareholders will have the balance. NextEra was down 4.7%, and Dominion jumped past 9%.Devon Energy (DVN) may see support from its upcoming combined company guidance with Coterra Energy in June, possible asset sales, merger synergies, stronger shareholder returns, and continued investment in Delaware Basin assets, RBC said. Devon shares added 0.5%.ConocoPhillips (COP) and Glenfarne Group's subsidiary have signed a 30-year agreement to supply North Slope natural gas for phase one of the Alaska LNG project, the companies said Monday. ConocoPhillips shares rose 1.7%.Compass Minerals International (CMP) said it plans to re-enter the lithium market via a partnership with startup EnergyX to extract lithium from Utah's Great Salt Lake, Reuters reported. Compass shares fell 1.1%.
US equity indexes were mixed on Monday as investors weighed reports of an updated peace proposal from Iran.* Iran has offered an updated proposal, which the White House sees as lacking meaningful improvement over the previous offer, rendering the latest version insufficient to reach a deal to end the war, a senior US official and a source briefed on the issue told Axios.* The National Association of Home Builders' monthly housing market index rose to a reading of 37 in May from 34 in April, compared with expectations for a 34 print in a survey compiled by Bloomberg.* The New York Federal Reserve's services index improved to minus 5.8 in May from minus 14.0 in April, the highest level since January 2025.* June West Texas Intermediate crude oil rose $0.73 to settle at $106.15 per barrel, while July Brent crude, the global benchmark, was last seen down $0.02 at $109.18.* NextEra Energy (NEE) and Dominion Energy (D) agreed to merge in an all-stock deal to create the world's largest regulated electric utility. Shares of Dominion were up about 9.3%, the biggest gainer on the S&P 500.* Regeneron Pharmaceuticals' (REGN) miss on the fianlimab trial may lead some investors to question the company's broader strategy and execution, RBC Capital Markets said in a note. Regeneron's shares fell nearly 10%, the steepest decline on the S&P 500 and the Nasdaq.
B. Riley upgraded Zscaler (ZS) to buy, with a $225 price target, ahead of the company's fiscal Q3 results on Tuesday next week.Shares of Zscaler were up 10%, with intraday trading volume at nearly 3.89 million from a daily average of over 3.13 million.Cognizant Technology Solutions (CTSH) increased its 2026 share repurchase target by $1 billion to $2 billion, the company said Monday.Shares advanced 8.4%, with intraday trading volume at almost 7.98 million from a daily average of about 6.75 million.NextEra Energy (NEE) and Dominion Energy (D) agreed to merge in an all-stock deal to create the world's largest regulated electric utility.Shares of Dominion jumped 9.1%, with intraday trading volume at over 25.3 million compared with a daily average of about 4.90 million.Price: $177.16, Change: $+16.11, Percent Change: +10.00%
US benchmark equity indexes were mixed after midday Monday as oil prices rose amid new developments in the Middle East conflict, while traders braced for Nvidia's (NVDA) latest financial results due out later in the week.The Nasdaq Composite was down 0.7% at 26,049.9 intraday, while the S&P 500 shed 0.3% to 7,387.2. The Dow Jones Industrial Average was 0.1% higher at 49,571.2. Most sectors were in the green, led by energy, while technology saw the steepest decline.West Texas Intermediate crude was up 1.5% at $107.01 per barrel, while Brent rose 1.4% to $110.84.Iran has provided an updated proposal for a deal to end the war with the US, though the White House indicated it doesn't reflect a meaningful improvement from a previous offer and is insufficient, Axios reported Monday, citing a senior US official and a source briefed on the matter.The Strait of Hormuz -- the world's most important chokepoint for crude flows -- remains largely shut as tensions between the US and Iran continue, with no end in sight. Over the weekend, US President Donald Trump said the "clock is ticking" for Iran to strike a deal.US Treasury yields were mixed intraday Monday, with the 10-year rate up 1.2 basis points at 4.61% and the two-year rate little changed at 4.08%.Nvidia shares were down 1.8%, the second-worst performer on the Dow. The chipmaking giant -- which is scheduled to release its latest quarterly results after the markets close Wednesday -- is considered by many investors as the "scoreboard" for the artificial intelligence boom, Saxo Bank said in a note Monday."The company does not only need to show that demand remains strong. It may need to show that demand is still accelerating, margins remain resilient, competition risk is contained, supply constraints are manageable, and China risk is manageable," Saxo said. "That is a high bar. And when the bar is high, even good news can create volatility."Retail giants Walmart (WMT), Home Depot (HD), TJX (TJX), Lowe's (LOW) and Target (TGT) are also expected to report this week.Home Depot and Lowe's are likely to lower their full-year guidance as the home improvement retailers face pressure from weak consumer sentiment, Oppenheimer said in a note.NextEra Energy (NEE) and Dominion Energy (D) agreed to merge in all-stock deal to create the largest regulated electric utility in the world. Dominion shares were up 8.6% intraday Monday, the second-biggest gainer on the S&P 500, while NextEra fell 6.6%.In economic news, US homebuilder confidence unexpectedly rose this month despite elevated mortgage rates, macro uncertainty and continued affordability challenges, data from the National Association of Home Builders and Wells Fargo showed."Soft homebuilder sentiment is consistent with our view that housing starts will mostly move sideways for the next couple of quarters before starting to edge up slightly around year-end, when we expect mortgage rates to be lower as the (Federal Reserve) implements the first of two rate cuts we expect," Oxford Economics said in a note.Gold was down 0.2% at $4,553.40 per troy ounce, while silver fell 0.2% to $77.41 per ounce.
Energy stocks were higher Monday afternoon, with the NYSE Energy Sector Index rising 1.7% and the State Street Energy Select Sector SPDR ETF (XLE) adding 1.5%.The Philadelphia Oil Service Sector Index was climbing 3.2%, and the Dow Jones US Utilities Index was down 0.7%.Front-month West Texas Intermediate crude oil was rising 1.4% to $106.89 a barrel, and the global benchmark Brent crude contract was advancing 1.6% to $111.01 a barrel. Henry Hub natural gas futures rose 2.3% to $3.03 per 1 million BTU.In sector news, Treasury Secretary Scott Bessent said Monday on X the US Treasury is issuing a temporary 30-day license allowing nations to access Russian oil currently stranded at sea.In corporate news, NextEra Energy (NEE) and Dominion Energy (D) said they have agreed to merge in all-stock deal to create the largest regulated electric utility in the world. Dominion's shareholders will get 0.8138 of NextEra's shares for each share owned, giving them a 25.5% stake in the combined entity, they said, adding that NextEra's shareholders will have the balance. NextEra was down 6.8%, and Dominion jumped past 8%.ConocoPhillips (COP) and Glenfarne Group's subsidiary have signed a 30-year agreement to supply North Slope natural gas for phase one of the Alaska LNG project, the companies said Monday. ConocoPhillips shares rose 1.5%.Compass Minerals International (CMP) said it plans to re-enter the lithium market via a partnership with startup EnergyX to extract lithium from Utah's Great Salt Lake, Reuters reported. Compass shares added 0.7%.
US equity indexes traded mixed as crude oil futures rose and government bond yields remained elevated after midday Monday amid reports of an updated peace proposal from Iran to end the war.The Nasdaq Composite fell 0.7% to 26,047.1, with the S&P 500 down 0.3% to 7,389.2. The Dow Jones Industrial Average rose 0.1% to 49,595.5.Technology and industrials led decliners intraday. Energy, financials, and communication services were among the top gainers.Iran has offered an updated proposal, which the White House sees as lacking meaningful improvement over the previous offer, rendering the latest version insufficient to reach a deal to end the war, a senior US official and a source briefed on the issue told Axios.However, a senior Iranian source told Reuters that the US had agreed to release a quarter of Iran's frozen funds - totaling tens of billions of dollars - held in foreign banks. The Iranian source also told the news agency that Washington has shown more flexibility in allowing Iran to continue some peaceful nuclear activity under the supervision of the International Atomic Energy Agency.Meanwhile, President Donald Trump is expected to meet top national security advisers on Tuesday to discuss options for resuming military action, Axios said in a separate news report. "The Clock is Ticking" for Iran, Trump said in a post on Truth Social at the weekend, adding that "they better get moving, FAST, or there won't be anything left of them. TIME IS OF THE ESSENCE!"West Texas Intermediate crude oil futures climbed 0.9% to $106.24, and Brent crude futures advanced 0.9% to $110.28.US Treasury yields traded mixed, but elevated. The 10-year was little changed at 4.6%, the highest since January 2025. The 30-year rate was steady at 5.13%, the strongest level since 2007.In precious metals, gold futures slipped 0.1% to $4,558.1, and silver futures were steady at $77.59.In economic news, the National Association of Home Builders' monthly housing market index rose to a reading of 37 in May from 34 in April, compared with expectations for a 34 print in a survey compiled by Bloomberg. The index was above the 34 print reported a year earlier."Recent increases for long-term interest rates will continue to hold back home buyer demand," said NAHB Chief Economist Robert Dietz. "Although some regional markets, including parts of the Midwest, are showing relative strength, the housing market continues to face significant affordability challenges."The New York Federal Reserve's services index improved to minus 5.8 in May from minus 14.0 in April, the highest level since January 2025. The index is the first services sector reading for May and suggests a slower contraction.In company news, NextEra Energy (NEE) and Dominion Energy (D) agreed to merge in an all-stock deal to create the world's largest regulated electric utility. Shares of Dominion jumped 8.8%, the second-biggest gainer on the S&P 500.Regeneron Pharmaceuticals' (REGN) miss on the fianlimab trial may lead some investors to question the company's broader strategy and execution, RBC Capital Markets said. Regeneron's shares sank 9.7%, the steepest decline on the S&P 500 and the Nasdaq.
Energy stocks were higher Monday afternoon, with the NYSE Energy Sector Index rising 2.1% and the State Street Energy Select Sector SPDR ETF (XLE) adding 1.6%.The Philadelphia Oil Service Sector Index was climbing 3.2%, and the Dow Jones US Utilities Index was down 0.7%.Front-month West Texas Intermediate crude oil was rising 1.4% to $106.89 a barrel, and the global benchmark Brent crude contract was advancing 1.6% to $111.01 a barrel. Henry Hub natural gas futures rose 2.3% to $3.03 per 1 million BTU.In corporate news, NextEra Energy (NEE) and Dominion Energy (D) said they have agreed to merge in all-stock deal to create the largest regulated electric utility in the world. Dominion's shareholders will get 0.8138 of NextEra's shares for each share owned, giving them a 25.5% stake in the combined entity, they said, adding that NextEra's shareholders will have the balance. NextEra was down 6.5%, and Dominion jumped past 8%.
NextEra Energy (NEE) and Dominion Energy (D) have agreed to combine in an all-stock deal valued at about $67 billion, the companies said on Monday.The combined company would become the world's largest regulated electric utility by market capitalization and one of North America's largest energy infrastructure companies, the companies said.The combined company would serve about 10 million customer accounts, with over 80% of operations expected to be regulated, the companies said.The merger would help meet rising electricity demand through greater scale in operations, procurement, construction and financing.The deal, among the largest in the US power sector, comes amid a wave of consolidation driven by surging electricity demand tied to rapid data-center expansion, which has boosted growth and profit expectations for utilities.Under the agreement, Dominion shareholders would receive a fixed exchange ratio of 0.8138 NextEra Energy shares for each Dominion share held at closing.Following completion of the transaction, NextEra shareholders are expected to own about 74.5% of the combined company, while Dominion shareholders would hold roughly 25.5%, the companies said.Dominion said the merger remains subject to approval by federal and state regulators, as well as shareholders of both companies. The companies expect the transaction to close in the second half of 2027.NextEra, one of the world's largest energy developers, said the deal would expand its presence in the PJM Interconnection region, the largest US power grid operator, and strengthen its position in Virginia, one of the world's largest data-center markets.The companies said Dominion customers in Virginia, North Carolina and South Carolina would receive $2.25 billion in bill credits over two years after the deal closes.The combined company would maintain dual headquarters in Florida and Virginia, with an operational headquarters in South Carolina.The merger is expected to be tax-free to shareholders and immediately accretive to adjusted earnings per share upon closing, the companies said.Price: $88.41, Change: $-4.96, Percent Change: -5.31%
The Dow Jones Industrial Average, Nasdaq Composite and S&P 500 Index were down in late-morning trading Monday, as Wall Street monitored oil prices and US Treasury yields amid the ongoing conflict in the Middle East.In company news, NextEra Energy (NEE) and Dominion Energy (D) said Monday they have entered into a definitive agreement to combine in an all-stock deal. Under the terms of the transaction, Dominion shareholders will receive a fixed exchange ratio of 0.8138 shares of NextEra for each Dominion share they own at the close of the deal, which is expected in the next 12 to 18 months. NextEra shareholders will own about 74.5% of the combined company, while Dominion shareholders will own the remaining 25.5%. NextEra shares were down 5.5% around midday, while Dominion shares were up 9.6%.The US Supreme Court on Monday denied writ of certiorari petitions by six big pharmaceutical companies seeking to challenge the legality of the Medicare Drug Price Negotiation Program under the Inflation Reduction Act of 2022. AstraZeneca (AZN), Novartis (NVS), Novo Nordisk (NVO), Johnson & Johnson's (JNJ) Janssen Pharmaceuticals, Bristol-Myers Squibb (BMY) and Boehringer Ingelheim Pharmaceuticals all had their petitions denied by the Supreme Court. Shares of AstraZeneca, Novartis, Johnson & Johnson and Bristol-Myers were up 1.1%, 0.8%, 0.4% and 0.5%, respectively, while Novo Nordisk was down 1%.Berkshire Hathaway (BRK.A, BRK.B) disclosed Friday in a regulatory filing that it sold all of its stake in UnitedHealth Group (UNH). Separately, a New York state court judge on Monday prohibited prosecutors from using some evidence found in the backpack of Luigi Mangione, who is standing trial for the murder of UnitedHealth Group's UnitedHealthcare CEO Brian Thompson, CNBC reported. UnitedHealth shares were down 1.5%, while Berkshire's class A and class B shares were up 0.2% and 0.1%, respectively.Citigroup (C) and BlackRock's (BLK) HPS Investment Partners are launching a 15 billion euro ($17.48 billion) private capital program to expand access to private financing for corporate and sponsor-owned borrowers in the Europe, the Middle East and Africa region, the companies said Monday. Citigroup shares were down 0.2%, while BlackRock shares were up 0.5%.Price: $88.24, Change: $-5.13, Percent Change: -5.49%
NextEra Energy (NEE) and Dominion Energy's (D) merger shows that the "AI-driven power demand supercycle is not a cyclical trade but a decades-long infrastructure build," Wedbush said in a note Monday.In the grid infrastructure and data center space, Quanta Services (PWR) and Willdan (WLDN) will be direct beneficiaries of the deal, Wedbush said, adding that a combined NextEra and Dominion spanning Florida, Virginia, North Carolina, and South Carolina will need a "sustained acceleration in transmission, substation, and distribution buildout."In the equipment and power management sector, Vertiv (VRT) and Eaton (ETN) are poised to benefit from scale procurement, the note said, adding the combined company's emphasis on "supply chain scale and procurement efficiency points directly to accelerating orders for thermal management, power conversion, and switchgear."In the power generation and fuel supply space, Constellation Energy (CEG), Vistra (VST), and Talen Energy (TLN) will likely also benefit from "demand confirmation," Wedbush said, adding the deal's "explicit framing of surging large-load demand" will support independent power producers serving the same Mid-Atlantic and Southeast regions.Meanwhile, for the materials and enabling technologies sector, the "nuclear infrastructure thesis" will likely be boosted, Wedbush said, as the combined company's position as the second largest in US nuclear generation will back the "long-term investment case for the nuclear supply chain."Cameco (CCJ), BWX Technologies (BWXT), and NuScale Power (SMR) are the companies most directly linked to nuclear fuel, services, and reactor deployment, the note said.Price: $88.37, Change: $-5.00, Percent Change: -5.35%
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