$FRVO

Sector Update: Energy Stocks Decline Late Afternoon

Energy stocks were lower late Tuesday afternoon, with the NYSE Energy Sector Index down 0.5% and the State Street Energy Select Sector SPDR ETF (XLE) shedding 1.1%.The Philadelphia Oil Service Sector Index was 0.2% lower, and the Dow Jones US Utilities Index was 0.3% lower.Front-month West Texas Intermediate crude oil fell 1.2% to $94.59 a barrel, and the global benchmark Brent crude contract shed 1.2% to $99.13 a barrel. Henry Hub natural gas futures gained 5.7% to $3.00 per 1 million BTU.In geopolitical news, President Donald Trump told the UN General Assembly that a deal with Iran is possible after the midterm elections, but his other choice is to "annihilate the Islamic Republic," multiple news outlets reported.In corporate news, Marathon Petroleum (MPC) shares were down 3.1% after Jefferies downgraded the stock to hold from buy.Abu Dhabi's XRG is considering taking a stake in the Shell-backed (SHEL) LNG Canada project, Bloomberg reported. Shell shares were up 0.7%.Southern (SO) unit Georgia Power said late Monday it formed a partnership with Alphabet's (GOOGL) Google to advance nuclear energy in the state and provide about $900 million in benefits to consumers. Southern shares were down 0.4%.Fervo Energy (FRVO) said Tuesday it has won two US Department of Energy awards totaling about $20 million to support the development of geothermal projects in Idaho and Nevada. Fervo shares were shedding 2.3%.

Sector Update: Energy Stocks Mixed Tuesday Afternoon

Energy stocks traded mixed Tuesday afternoon, with the NYSE Energy Sector Index up 0.3% and the State Street Energy Select Sector SPDR ETF (XLE) 0.8% lower.The Philadelphia Oil Service Sector Index added 0.7%, and the Dow Jones US Utilities Index was slightly higher.In geopolitical news, President Donald Trump told the UN General Assembly that a deal with Iran is possible after the midterm elections, but his other choice is to "annihilate the Islamic Republic," multiple news outlets reported.Front-month West Texas Intermediate crude oil fell 3% to $89.55 a barrel, and the global benchmark Brent crude contract shed 0.4% to $99.92 a barrel. Henry Hub natural gas futures gained 4.2% to $2.95 per 1 million BTU.In corporate news, Abu Dhabi's XRG is considering taking a stake in the Shell-backed (SHEL) LNG Canada project, Bloomberg reported. Shell shares were up 0.9%.Southern (SO) unit Georgia Power said late Monday it formed a partnership with Alphabet's (GOOGL) Google to advance nuclear energy in the state and provide about $900 million in benefits to consumers. Southern shares were down 0.2%.Fervo Energy (FRVO) said Tuesday it has won two US Department of Energy awards totaling about $20 million to support the development of geothermal projects in Idaho and Nevada. Fervo shares were shedding 1.8%.

Fervo Gets Two US Energy Department Grants Totaling $20 Million for Geothermal Projects in Idaho, Nevada

Fervo Energy (FRVO) said Tuesday it has won two US Department of Energy awards totaling about $20 million to support the development of geothermal projects in Idaho and Nevada.The company said that in Idaho, it will use the funding for drilling and completing Enhanced Geothermal Systems wells in Elmore County in partnership with national labs.In Nevada, the grant will back a targeted appraisal campaign at an Enhanced Geothermal Systems prospect in Humboldt County to confirm the reservoir is suitable for development, the company said.Price: $16.77, Change: $-0.06, Percent Change: -0.39%

Update: Fervo Signs 396 Megawatt Power Purchase Agreement With Google

(Updates with Google's response in the sixth paragraph and the most recent stock move in the last paragraph.)Fervo Energy (FRVO) has signed a 396-megawatt power purchase agreement with Alphabet's (GOOG, GOOGL) Google, the company said on Tuesday.Under the agreement, Google will purchase energy from Fervo Energy's Cape Station geothermal project to power a potential data center in Utah, according to the company.Fervo Energy said that the agreement includes an option for Google to expand its offtake by about 600 megawatts, for a total capacity of nearly 1 gigawatt, by June 2030.Financial details related to the agreement were not disclosed.The Cape Station geothermal project is slated to come online in 2028, meanwhile, the potential data center remains subject to factors like engineering feasibility, state and local approvals, and commercial conditions, Fervo Energy said."Although several components of this project are not yet finalized, we want to build data centers the right way through an open and transparent dialogue," Google said in response to an inquiry by.Shares of Fervo declined more than 3% in recent Wednesday premarket activity.Price: $19.10, Change: $-0.65, Percent Change: -3.29%

Sector Update: Energy Stocks Rise Late Afternoon

Energy stocks were higher late Tuesday afternoon, with the NYSE Energy Sector Index rising 1.7% and the State Street Energy Select Sector SPDR ETF (XLE) up 1.2%.The Philadelphia Oil Service Sector Index increased 0.4%, and the Dow Jones US Utilities Index was up 0.7%.In geopolitical news, the US military launched fresh attacks on Iran, striking Islamic Revolutionary Guard Corps targets, the US Central Command said Tuesday in a post on social media platform X. Washington is striking "Iranian targets" near the Strait of Hormuz, US President Donald Trump said Tuesday. "If the failed nation of Iran retaliates for this very justified attack, they will be hit again at a much harder and higher level," Trump said in a social media post. The latest US military actions came a day after Iran reportedly attacked US bases in Jordan and the United Arab Emirates, in retaliation for Washington striking Iranian rocket launchers on Tehran's Larak Island.Front-month West Texas Intermediate crude oil jumped 5.4% to $90.39 a barrel, and the global benchmark Brent crude contract surged nearly 5% to $94.98 a barrel. Henry Hub natural gas futures rose 0.2% to $2.94 per 1 million BTU.In corporate news, Shell's (SHEL) Equilon Enterprises has signed an agreement to increase its equity in Tri Star Energy to 100% from 33%, the company said Tuesday. With the acquisition, Shell will become the full owner of an additional 320 fuel and convenience retail sites across the southeastern US. Shell shares rose 2.2%.Comstock Resources (CRK) shares jumped 11% after the company said it entered into a letter of intent under which the State Oil Co. of the Azerbaijan Republic, or SOCAR, would acquire interests in some of its Haynesville assets for $1.65 billion in cash.Chevron (CVX) is finalizing a deal for the operating rights to two giant oil fields in Venezuela's Orinoco Belt, Bloomberg reported. Chevron shares rose 2.1%.ExxonMobil (XOM) is among several major oil companies planning to pursue business in Venezuela, multiple news outlets including Reuters reported late Monday, citing comments made by US President Donald Trump at a press event in the Oval Office. Trump said ExxonMobil and Chevron are among companies preparing to bid for projects in the Venezuelan market, while other firms are also competing, the Reuters report said. ExxonMobil shares were up 2.1%.Fervo Energy (FRVO) shares surged 28% after the company said Tuesday it has signed a 396-megawatt power purchase agreement with Alphabet's (GOOGL) Google.

Sector Update: Energy Stocks Rise Tuesday Afternoon

Energy stocks were higher Tuesday afternoon, with the NYSE Energy Sector Index rising 1.1% and the State Street Energy Select Sector SPDR ETF (XLE) up 0.9%.The Philadelphia Oil Service Sector Index increased 0.2%, and the Dow Jones US Utilities Index was fractionally higher.In geopolitical news, the US Air Force is attacking Iranian targets located in the area around the Strait of Hormuz, Axios reporter Barak Ravid said Tuesday on X, citing US officials.Front-month West Texas Intermediate crude oil jumped 4.4% to $89.49 a barrel, and the global benchmark Brent crude contract popped 3.8% to $93.91 a barrel. Henry Hub natural gas futures fell 1.3% to $2.90 per 1 million BTU.In corporate news, Chevron (CVX) is finalizing a deal for the operating rights to two giant oil fields in Venezuela's Orinoco Belt, Bloomberg reported. Chevron shares rose 1.7%.ExxonMobil (XOM) is among several major oil companies planning to pursue business in Venezuela, multiple news outlets including Reuters reported late Monday, citing comments made by US President Donald Trump at a press event in the Oval Office. Trump said ExxonMobil and Chevron are among companies preparing to bid for projects in the Venezuelan market, while other firms are also competing, the Reuters report said. ExxonMobil shares were up 2%.Fervo Energy (FRVO) shares surged 28% after the company said Tuesday it has signed a 396-megawatt power purchase agreement with Alphabet's (GOOGL) Google.Proposed legislation by California lawmakers to address wildfire risk and increase utility accountability fails to address the financing risks that utilities face, BofA Securities said Tuesday, as it downgraded PG&E (PCG) and Edison International (EIX). BofA cut its rating on both PG&E and Edison to neutral from buy and reduced its price target to $13 from $24 for PG&E and to $51 from $81 for Edison. PG&E shares were up 1.1%, and Edison rose 3%.

Top Midday Stories: Anthropic Reportedly Agrees to $35 Billion Computing Deal With Lambda; GoPro to Merge With Starman Optical

All three major US stock indexes were down in late-morning trading Tuesday, as bond yields in the US and around the world rose in response to rising oil prices and inflation concerns.In company news, Amazon-backed (AMZN) Anthropic has agreed to a $35 billion computing deal with Nvidia-backed (NVDA) cloud provider Lambda, Bloomberg reported Monday, citing a person familiar with the matter. The project involves a Texas data center being developed by Hut 8, with Nvidia holding the lease, the report said. Amazon shares were down 2.0% around midday, while Nvidia shares were down 1.0%.GoPro (GPRO) and optical-photonics company Starman Optical said Tuesday they have signed a definitive merger agreement. Under the terms of the deal, GoPro shareholders will receive $1.14 per share, for a total of $285 million in cash and will retain a stake in the combined company of about 10%. GoPro's roughly $92 million of outstanding debt will be repaid in full at closing, the companies said. GoPro shares were up 43.8%.Chevron (CVX) is finalizing a deal for the operating rights to two giant oil fields in Venezuela's Orinoco Belt, Bloomberg reported Tuesday, citing people familiar with the matter. The two fields are located in the Carabobo region, which holds billions of barrels of heavy oil reserves, and are near a big field already operated by Chevron's PetroIndependencia joint venture with state-owned Petroleos de Venezuela, the report said, citing the people. Chevron shares were up 1.5%.Medtronic (MDT) reported fiscal Q1 adjusted earnings Tuesday of $1.45 per share, up from $1.26 a year earlier and above the FactSet consensus analyst estimate of $1.39. Fiscal Q1 revenue was $9.76 billion, up from $8.58 billion a year ago and above the FactSet consensus of $9.55 billion. For fiscal 2027, the company expects adjusted EPS of $5.94 to $6, compared with its previous guidance range of $5.90 to $6 and the FactSet consensus of $5.95. Separately, Medtronic said it formed a partnership with Cornerstone Robotics through which it will invest $700 million. Lastly, Medtronic will invest up to $80 million in Pi-Cardia and retain an option to acquire the company for up to $210 million if certain milestones are met, the companies said Tuesday. Medtronic shares were up 1.7%.Fervo Energy (FRVO) has signed a 396-megawatt power purchase agreement with Alphabet's (GOOG, GOOGL) Google, the company said Tuesday. Under the terms of the agreement, Google will buy energy from Fervo Energy's Cape Station geothermal project to power a potential data center in Utah, Fervo said. The agreement includes an option for Google to expand its offtake by about 600 megawatts by June 2030, the company said. Fervo shares were up 23.8%, while Google's Class C and Class A shares were down 0.7% and 0.9%, respectively.SpaceX (SPCX) has replaced several leaders responsible for building the company's data centers following some civil engineering concerns and reliability issues at facilities in Tennessee and Mississippi, The Information reported Tuesday, citing people familiar with the matter. The company has installed executives from its rocket and satellite internet businesses to oversee data center operations, the report said, citing the people. SpaceX shares were up 0.3%.Price: $1.25, Change: $+0.37, Percent Change: +42.78%

Top Premarket Gainers

GoPro (GPRO) shares were 71% higher pre-bell Tuesday following media reports that YouTube creator Mark Fischbach has become the company's largest single shareholder.TDH (PETZ) stock was up 24% after a Monday regulatory filing showed that the company's CEO Dandan Liu bought company shares.Game Your Game (GYGY) shares were 20% higher following a 0.9% gain in the prior session.YY Group (YYGH) stock was up 14% after the company announced a corporate rebranding and ticker change.Fervo Energy (FRVO) shares were more than 13% higher, extending gains from Monday's session.

Sector Update: Energy Stocks Edge Higher

Energy stocks edged higher Wednesday with the NYSE Energy Sector Index little changed, erasing earlier declines, and the State Street Energy Select Sector SPDR ETF (XLE) up 0.2%.The Philadelphia Oil Service Sector Index fell 0.4%, and the Dow Jones US Utilities Index rose 0.4%.In geopolitical news, Iran may prolong its war with the US until President Donald Trump leaves office, CNN reported, citing a top adviser to the commander of Iran's Islamic Revolutionary Guard Corps.In sector news, US crude oil stocks, including those in the Strategic Petroleum Reserve, rose by 11.3 million barrels in the week ended Friday following a decrease of 400,000 in the previous week. Excluding inventories in the SPR, commercial crude oil stocks rose by 17.4 million after an increase of 2.5 million in the previous week, compared with the drop of 1.8 million expected in a Bloomberg survey.The Organization of the Petroleum Exporting Countries lowered its global oil demand growth outlook for 2026, while projecting a stronger rebound for next year than estimated.The International Energy Agency projected a larger decline in global oil demand this year than estimated as the continued closure of the Strait of Hormuz weighs on consumption.West Texas Intermediate crude oil shed 0.3% to $82.95 a barrel, and global benchmark Brent fell 0.3% to $88.65 a barrel. Henry Hub natural gas futures rose 1.1% to $2.80 per 1 million BTU.In corporate news, Fervo Energy (FRVO) shares fell 17%. The company reported a Q2 net loss of $0.38 per diluted share, narrowing from a loss of $1.31 per share a year earlier. Three analysts polled by FactSet expected a loss of $0.11 per share.Energy Fuels (UUUU) said shareholders of Australian Strategic Materials approved the US company's planned takeover. Energy Fuels shares fell 2%.Borr Drilling (BORR) shares fell 3.6% after the company reported a Q2 loss as revenue declined.

Sector Update: Energy

Energy stocks were slightly higher late Wednesday afternoon, with the NYSE Energy Sector Index and the State Street Energy Select Sector SPDR ETF (XLE) each increasing 0.1%.The Philadelphia Oil Service Sector Index was down 0.4%, and the Dow Jones US Utilities Index rose 0.4%.Front-month West Texas Intermediate crude oil shed 0.2% to $83.06 a barrel, and the global benchmark Brent crude contract decreased 0.2% to $88.77 a barrel. Henry Hub natural gas futures rose 1% to $2.80 per 1 million BTU.In corporate news, Fervo Energy (FRVO) shares fell past 15%. The company reported a Q2 net loss Wednesday of $0.38 per diluted share, narrowing from a loss of $1.31 per share a year earlier. Weighted-average diluted shares outstanding totaled 157 million shares in the quarter ended June 30, up from 8.8 million year earlier. Three analysts polled by FactSet expected a loss of $0.11 per share.

Top Midday Decliners

SunScout (SNSC) priced an initial public offering of 3.1 million Class A ordinary shares at $5 each, raising $15.5 million in gross proceeds, the company said Wednesday.Shares sank 23%, with intraday trading volume at over 1.42 million.Fervo Energy's (FRVO) shares slumped 15% after the company reported a narrower Q2 net loss on Wednesday.Over 4.07 million shares traded intraday versus a daily average of roughly 3.79 million.Snail (SNAL) shares sank 24% after Q2 financial results showed a year-over-year decline in net revenue.More than 507,000 shares of the company traded intraday compared with a daily average of about 1.50 million.Price: $3.29, Change: $-1.11, Percent Change: -25.23%

Exchange-Traded Funds, Equity Futures Gain Pre-Bell Wednesday Amid In-Line Consumer Inflation Data, Tech Gains

The broad market exchange-traded fund SPDR S&P 500 ETF Trust (SPY) was up 0.2%, and the actively traded Invesco QQQ Trust (QQQ) was 0.7% higher in Wednesday's premarket activity as investors welcomed a July consumer inflation reading that matched forecasts and continued strength in AI-related technology shares.US stock futures were also higher, with S&P 500 Index futures up 0.3%, Dow Jones Industrial Average futures advancing 0.1%, and Nasdaq futures gaining 0.7% before the start of regular trading.Mortgage applications rose by 3.6% in the week ended Aug. 7 after a 2.9% decline in the previous week as 30-year fixed mortgage rates declined, according to Mortgage Bankers Association data released Wednesday.The US seasonally adjusted consumer price index, a measure of inflation, gained 0.1% in July, as expected and following a 0.4% decrease in June, according to data released by the Bureau of Labor Statistics on Wednesday.Weekly crude oil stocks data will be released at 10:30 am ET.The US Treasury is due to publish its monthly budget statement for July at 2 pm ET.In premarket activity, bitcoin was up by 1.1%. Among cryptocurrency ETFs, the cryptocurrency fund ProShares Bitcoin Strategy ETF (BITO) was 1.2% higher, Ether ETF (EETH) advanced 2%, and Bitcoin & Ether Market Cap Weight ETF (BETH) was down 0.7%.Power Play:Health CareThe State Street Health Care Select Sector SPDR ETF (XLV) retreated 0.2%, the Vanguard Health Care Index Fund (VHT) was 0.02% lower, while the iShares US Healthcare ETF (IYH) was flat. The iShares Biotechnology ETF (IBB) advanced 0.1%Definium Therapeutics (DFTX) stock was up more than 17% premarket after the company said its phase 3 Voyage study of DT120 lysergide orally disintegrating tablets in adults with generalized anxiety disorder met its primary endpoint.Winners and Losers:TechnologyThe State Street Technology Select Sector SPDR ETF (XLK) rose 1%, the iShares US Technology ETF (IYW) was 1% higher, and the iShares Expanded Tech Sector ETF (IGM) was inactive. Among semiconductor ETFs, the State Street SPDR S&P Semiconductor ETF (XSD) was up 2.1%, while the iShares Semiconductor ETF (SOXX) rose by 2.1%.Octave Intelligence (OCTV) shares were down more than 14% in premarket activity after the company posted lower Q2 revenue.FinancialThe State Street Financial Select Sector SPDR ETF (XLF) retreated 0.03%. Direxion Daily Financial Bull 3X Shares (FAS) was up 0.2%, while its bearish counterpart, Direxion Daily Financial Bear 3X Shares (FAZ), was 0.1% higher.Marex Group (MRX) shares were up 8% in early-hours activity after the company reported higher Q2 adjusted earnings and revenue.IndustrialThe State Street Industrial Select Sector SPDR ETF (XLI) advanced 0.3%, while the Vanguard Industrials Index Fund (VIS) was flat and the iShares US Industrials ETF (IYJ) was inactive.Firefly Aerospace (FLY) stock was up more than 3% before the opening bell after the company reported a narrower Q2 adjusted loss and higher year-over-year revenue.EnergyThe iShares US Energy ETF (IYE) was inactive, while the State Street Energy Select Sector SPDR ETF (XLE) was down by 0.4%.Fervo Energy (FRVO) stock was up more than 2% before market open after the company reported a narrower Q2 net loss.ConsumerThe State Street Consumer Staples Select Sector SPDR ETF (XLP) was up 0.03%, the Vanguard Consumer Staples Index Fund ETF Shares (VDC) retreated 0.01%, and the iShares US Consumer Staples ETF (IYK) was down 1.3%. The State Street Consumer Discretionary Select Sector SPDR ETF (XLY) lost 0.03%. The VanEck Retail ETF (RTH) was inactive, while the State Street SPDR S&P Retail ETF (XRT) gained 0.02%.Kontoor Brands (KTB) shares were down more than 1% pre-bell following the company's Q2 financial results.CommoditiesFront-month US West Texas Intermediate crude oil advanced by 0.6% to $83.69 per barrel on the New York Mercantile Exchange. Natural gas was 1.3% higher at $2.80 per 1 million British Thermal Units. The United States Oil Fund (USO) increased by 0.1%, while the United States Natural Gas Fund (UNG) was 2% higher.Gold futures for November gained by 0.7% to reach $4,472.20 an ounce on the Comex. Silver futures retreated 2.3% to $66.44 an ounce. SPDR Gold Shares (GLD) was up by 0.8%, and the iShares Silver Trust (SLV) was 2% higher.

Earnings Flash (FRVO) Fervo Energy Posts Q2 Loss $0.38 a Share

Sector Update: Energy

Energy stocks rose late Monday afternoon with the NYSE Energy Sector Index rising 0.7% and the State Street Energy Select Sector SPDR ETF (XLE) adding 0.8%.The Philadelphia Oil Service Sector Index gained 0.4%, and the Dow Jones US Utilities Index shed 0.6%.West Texas Intermediate crude oil rose 1.4% to $83.64 a barrel, and global benchmark Brent added 1.5% to $89.43 a barrel. Henry Hub natural gas futures fell 1.9% to $2.86 per 1 million BTU.In corporate news, Fervo Energy (FRVO) shares jumped 4.4% after Jefferies upgraded the stock to buy from hold and cut its price target to $34 from $41.

Fervo Energy Shares Rise After Jefferies Upgrade

Fervo Energy (FRVO) shares rose 4% in Monday trading after Jefferies upgraded the stock to buy from hold, and adjusted the price target to $34 from $41.Trading volume stood at over 1.4 million shares compared with a daily average of nearly 4.2 million.Price: $25.66, Change: $+1.01, Percent Change: +4.10%

Exchange-Traded Funds, Equity Futures Higher Pre-Bell Monday Ahead of Key Earnings Reports

The broad market exchange-traded fund SPDR S&P 500 ETF Trust (SPY) was up 0.5%, and the actively traded Invesco QQQ Trust (QQQ) advanced 1% in Monday's premarket activity, ahead of a pivotal week for corporate earnings.US stock futures were mixed, with S&P 500 Index futures up 0.3%, Dow Jones Industrial Average futures advancing 0.2%, and Nasdaq futures gaining 0.7% before the start of regular trading.The index of leading economic indicators for June will be released at 10:00 am ET.In premarket action, bitcoin was down by 0.5%. Among cryptocurrency ETFs, the cryptocurrency fund ProShares Bitcoin Strategy ETF (BITO) was 1.2% higher, Ether ETF (EETH) advanced 1.5%, and Bitcoin & Ether Market Cap Weight ETF (BETH) was flat.Power Play:FinancialThe State Street Financial Select Sector SPDR ETF (XLF) advanced 0.1%. Direxion Daily Financial Bull 3X Shares (FAS) was up 0.3%, while its bearish counterpart, Direxion Daily Financial Bear 3X Shares (FAZ), was 0.5% lower.Hut 8 (HUT) shares traded up 13% in early hours activity after the company said it has signed a second 15-year lease worth $9.8 billion for 352 megawatts of IT capacity at its Beacon Point data center campus in Nueces County, Texas, fully commercializing the site's 1-gigawatt utility capacity.Winners and Losers:EnergyThe iShares US Energy ETF (IYE) was flat, while the State Street Energy Select Sector SPDR ETF (XLE) was up by 0.3%.Fervo Energy Company (FRVO) stock was up more than 5% before market open after Jefferies upgraded the company to buy from hold.ConsumerThe State Street Consumer Staples Select Sector SPDR ETF (XLP) was down 0.2%, the Vanguard Consumer Staples Index Fund ETF Shares (VDC) retreated 0.3%, and the iShares US Consumer Staples ETF (IYK) was inactive. The State Street Consumer Discretionary Select Sector SPDR ETF (XLY) gained 0.4%. The VanEck Retail ETF (RTH) was inactive, while the State Street SPDR S&P Retail ETF (XRT) was up 0.3%.Alibaba Group (BABA) shares were up more than 3% pre-bell after a 2% fall at Friday's close. Reuters reported Monday that Alibaba-backed Moonshot AI temporarily paused new subscriptions as high demand for its recent Kimi K3 model overloaded capacity.IndustrialThe State Street Industrial Select Sector SPDR ETF (XLI) advanced 0.6%, while the Vanguard Industrials Index Fund (VIS) was up 1.1% and the iShares US Industrials ETF (IYJ) was inactive.Elbit Systems' (ESLT) stock was up more than 2% before the opening bell after the company said its Elbit Systems of America unit received multiple contract awards worth more than $370 million from US Customs and Border Protection to enhance US national security.TechnologyThe State Street Technology Select Sector SPDR ETF (XLK) advanced 1%, and the iShares US Technology ETF (IYW) was 1.3% higher, while the iShares Expanded Tech Sector ETF (IGM) was inactive. Among semiconductor ETFs, the State Street SPDR S&P Semiconductor ETF (XSD) was up 1.9%, while the iShares Semiconductor ETF (SOXX) rose by 2.4%.Taiwan Semiconductor Manufacturing (TSM) shares were up more than 2% in premarket activity after Chief Financial Officer Wendell Huang said in a Sunday interview with CNBC that the company is accelerating the expansion of its Arizona chip manufacturing operations to capitalize on a multi-year artificial intelligence demand trend.Health CareThe State Street Health Care Select Sector SPDR ETF (XLV) retreated 0.01%, the Vanguard Health Care Index Fund (VHT) was up 0.1%, while the iShares US Healthcare ETF (IYH) was flat. The iShares Biotechnology ETF (IBB) was 0.3% higher.OKYO Pharma (OKYO) stock was up more than 1% premarket after the company said its cash position of around $20.6 million as of the end of March enables completion of a 111-patient phase 3 trial of its lead candidate, urcosimod, for the potential treatment of neuropathic corneal pain.CommoditiesFront-month US West Texas Intermediate crude oil retreated by 0.5% to $82.12 per barrel on the New York Mercantile Exchange. Natural gas was down by 1.2% to $2.88 per 1 million British Thermal Units. The United States Oil Fund (USO) was up 0.5%, while the United States Natural Gas Fund (UNG) was 0.7% lower.Gold futures for July retreated 0.1% to $4,015.20 an ounce on the Comex. Silver futures were up 1.2% to $57.01 an ounce. SPDR Gold Shares (GLD) decreased 0.2%, and the iShares Silver Trust (SLV) was 1.1% higher.

Jefferies Upgrades Fervo Energy to Buy From Hold, Adjusts PT to $34 From $41

Fervo Energy Company (FRVO) has an average rating of Buy and mean price target of $45, according to analysts polled by FactSet.

Fervo Energy Shares Rise After BofA Upgrade

Fervo Energy Company (FRVO) shares were up over 4% in Friday trading after BofA Securities upgrades the stock to buy from neutral.Trading volume stood at more than 1.5 million shares, compared with a daily average of nearly 4.3 million.Price: $24.10, Change: $+0.99, Percent Change: +4.28%

BofA Securities Upgrades Fervo Energy to Buy From Neutral, Price Target is $36

Fervo Energy (FRVO) has an average rating of overweight and mean price target of $46, according to analysts polled by FactSet.

Fervo Energy Projects Tagged by Enverus With 'Overly Aggressive' Valuation Cuts, RBC Says

Fervo Energy's (FRVO) geothermal energy projects were tagged by energy-focused software company Enverus with "overly aggressive" valuation cuts, RBC Capital Markets said in a note Wednesday.The brokerage noted Fervo Energy stock's decline after Enverus applied a 26.5% to 51% valuation cut to the company's Cape Phase I to III and Corsac Phase I projects, citing elevated risk from water usage and thermal drawdown.Concerns over water loss were overblown, given Fervo Energy's deeper wells and water's limited portion in a project's expenses, according to the note.Enervus is also "over forecasting" the number of makeup wells required to support Cape Station's reservoir declines based on potentially aggressive well decline assumptions, the brokerage said.RBC Capital Markets reiterated its outperform rating and $46 price target on Fervo Energy.Price: $28.89, Change: $-0.34, Percent Change: -1.16%