37 stories mentioning UUUUUpdated 16d ago
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Energy Fuels (UUUU) said Friday it has completed the acquisition of Australian Strategic Materials.The acquisition adds 1,300 tonnes per year of existing neodymium-iron-boron alloy production capacity at the Korean Metals Plant, the company added.Following completion of the deal, Australian Strategic Materials' shares were delisted from the Australian Securities Exchange.
Energy stocks were mixed late Wednesday afternoon, with the NYSE Energy Sector Index rising 0.2% and the State Street Energy Select Sector SPDR ETF (XLE) decreasing 0.3%.The Philadelphia Oil Service Sector Index was down 0.3%, and the Dow Jones US Utilities Index was fractionally higher.Front-month West Texas Intermediate crude oil rose 0.6% to $85.48 a barrel, and the global benchmark Brent crude contract advanced 0.3% to $91.26 a barrel. Henry Hub natural gas futures were steady at $2.78 per 1 million BTU.In sector news, US crude oil stocks, including the Strategic Petroleum Reserve, fell by 900,000 barrels in the week ended Aug. 14, following an increase of 11.3 million barrels in the week earlier. Excluding SPR inventories, commercial crude oil stocks rose by 4.4 million barrels compared with a 17.4-million-barrel gain in the week prior, and above the 200,000-barrel increase expected in a survey compiled by Bloomberg.In corporate news, Sable Offshore (SOC) can continue using an emergency order from the Trump administration as legal authority for the restart of an oil pipeline in Santa Barbara, California, Bloomberg reported Wednesday, citing a court ruling. Sable shares jumped past 18%.BP (BP) has begun trading Venezuelan oil, with a tanker loading about 400,000 barrels of heavy fuel oil supplied by state-owned Petroleos de Venezuela for delivery to Houston, Bloomberg reported. BP shares rose 0.7%.Energy Fuels (UUUU) shares gained 5.8% after it said Wednesday that terbium oxide produced at the White Mesa Mill in Utah has been qualified for commercial use by one of Japan's largest rare earth permanent magnet manufacturers.FLEX LNG (FLNG) shares climbed 3.9% after it reported higher Q2 adjusted net income and revenue.Shell (SHEL) Lubricants and Hyundai Motor have renewed their global partnership for another five years, the companies said Wednesday. Shell shares were up 0.8%.
Energy stocks were higher Wednesday afternoon, with the NYSE Energy Sector Index rising 0.4% and the State Street Energy Select Sector SPDR ETF (XLE) increasing 0.1%.The Philadelphia Oil Service Sector Index was adding 0.6%, and the Dow Jones US Utilities Index was fractionally lower.In geopolitical news, Iran has considered targeting US military assets in Europe, if President Donald Trump escalates the conflict, the Financial Times reported Wednesday, citing two sources close to the Iranian regime. Iranian forces have assessed potential targets in southeastern Europe, including US military assets in Bulgaria and Cyprus, according to the report. Tehran's forces have separately studied attacking subsea fiber optic cables in the crucial Strait of Hormuz, if there's an escalation in the conflict, the FT reported, citing the insiders.Front-month West Texas Intermediate crude oil rose 2.3% to $86.85 a barrel, and the global benchmark Brent crude contract advanced 1.6% to $92.51 a barrel. Henry Hub natural gas futures added 2.3% to $2.84 per 1 million BTU.In sector news, US crude oil stocks, including the Strategic Petroleum Reserve, fell by 900,000 barrels in the week ended Aug. 14, following an increase of 11.3 million barrels in the week earlier. Excluding SPR inventories, commercial crude oil stocks rose by 4.4 million barrels compared with a 17.4-million-barrel gain in the week prior, and above the 200,000-barrel increase expected in a survey compiled by Bloomberg.In corporate news, BP (BP) has begun trading Venezuelan oil, with a tanker loading about 400,000 barrels of heavy fuel oil supplied by state-owned Petroleos de Venezuela for delivery to Houston, Bloomberg reported. BP shares rose 1.3%.Energy Fuels (UUUU) shares gained 4.5% after it said Wednesday that terbium oxide produced at the White Mesa Mill in Utah has been qualified for commercial use by one of Japan's largest rare earth permanent magnet manufacturers.FLEX LNG (FLNG) shares climbed 3.8% after it reported higher Q2 adjusted net income and revenue.
Energy stocks were higher Wednesday afternoon, with the NYSE Energy Sector Index rising 0.4% and the State Street Energy Select Sector SPDR ETF (XLE) increasing 0.3%.The Philadelphia Oil Service Sector Index was adding 0.6%, and the Dow Jones US Utilities Index was fractionally lower.Front-month West Texas Intermediate crude oil rose 2.3% to $86.85 a barrel, and the global benchmark Brent crude contract advanced 1.6% to $92.51 a barrel. Henry Hub natural gas futures added 2.3% to $2.84 per 1 million BTU.In corporate news, Energy Fuels (UUUU) shares gained 4.3% after it said Wednesday that terbium oxide produced at the White Mesa Mill in Utah has been qualified for commercial use by one of Japan's largest rare earth permanent magnet manufacturers.
The broad market exchange-traded fund SPDR S&P 500 ETF Trust (SPY) was up 0.4%, and the actively traded Invesco QQQ Trust (QQQ) was 0.4% higher in Wednesday's premarket activity as investors await the Fed's minutes for clues on interest rates.US stock futures were mixed, with S&P 500 Index futures up 0.03%, Dow Jones Industrial Average futures advancing 0.1%, and Nasdaq futures retreating 0.2% before the start of regular trading.Mortgage applications fell by 0.4% in the week ended Aug. 14, with an increase in refinancing activity offset by a decline in home purchase applications, according to Mortgage Bankers Association data released Wednesday.Weekly petroleum stocks data are due to be released at 10:30 am ET.The minutes from the most recent Federal Open Market Committee meeting will be released at 2 pm ET.In premarket action, bitcoin was down by 0.3%. Among cryptocurrency ETFs, the cryptocurrency fund ProShares Bitcoin Strategy ETF (BITO) was 0.1% lower, Ether ETF (EETH) retreated 0.3%, and Bitcoin & Ether Market Cap Weight ETF (BETH) was flat.Power Play:Health CareThe State Street Health Care Select Sector SPDR ETF (XLV) advanced 1.5%, the Vanguard Health Care Index Fund (VHT) was up 0.1%, while the iShares US Healthcare ETF (IYH) gained 0.03%. The iShares Biotechnology ETF (IBB) was 3.2% higher.Moderna (MRNA) shares were up more than 92%, and Merck (MRK) was up 8% after the companies said that a late-stage trial of intismeran autogene in combination with Keytruda met its primary endpoint of recurrence-free survival as well as a key secondary endpoint of distant metastasis-free survival in patients with completely resected stage IIB-IV melanoma.Winners and Losers:TechnologyThe State Street Technology Select Sector SPDR ETF (XLK) advanced 0.6%, the iShares US Technology ETF (IYW) was 0.1% higher, and the iShares Expanded Tech Sector ETF (IGM) was up 0.04%. Among semiconductor ETFs, the State Street SPDR S&P Semiconductor ETF (XSD) gained 0.9%, while the iShares Semiconductor ETF (SOXX) rose by 1.5%.WhiteFiber (WYFI) shares were 23% lower after the company said it priced an upsized $270 million convertible senior notes offering.ConsumerThe State Street Consumer Staples Select Sector SPDR ETF (XLP) was up 0.5%, the Vanguard Consumer Staples Index Fund ETF Shares (VDC) was flat, and the iShares US Consumer Staples ETF (IYK) was down 1%. The State Street Consumer Discretionary Select Sector SPDR ETF (XLY) gained 0.1%. The VanEck Retail ETF (RTH) was inactive, while the State Street SPDR S&P Retail ETF (XRT) was 0.2% lower.Estee Lauder (EL) shares were up more than 12% pre-bell after the company reported higher fiscal Q4 adjusted earnings and revenue.IndustrialThe State Street Industrial Select Sector SPDR ETF (XLI) advanced 0.5%, the Vanguard Industrials Index Fund (VIS) was up 0.2%, and the iShares US Industrials ETF (IYJ) was inactive.ZIM Integrated Shipping Services (ZIM) stock was down more than 3% before the opening bell after the company reported lower-than-expected Q2 revenue.EnergyThe iShares US Energy ETF (IYE) gained 0.1%, while the State Street Energy Select Sector SPDR ETF (XLE) was up by 0.4%.Energy Fuels' (UUUU) stock was up more than 1% after the company said that terbium oxide produced at the White Mesa Mill in Utah has been qualified for commercial use by one of Japan's largest rare earth permanent magnet manufacturers.FinancialThe State Street Financial Select Sector SPDR ETF (XLF) advanced 0.5%. Direxion Daily Financial Bull 3X Shares (FAS) was up 1.7%, while its bearish counterpart, Direxion Daily Financial Bear 3X Shares (FAZ), was 1.8% lower.BlackRock (BLK) shares were down 1% after the Financial Times reported that the company's private credit division HPS Investment Partners and Oaktree Capital are among the creditors that seized control of production equipment supplier MBS Group last week, after the latter defaulted on its debt.CommoditiesFront-month US West Texas Intermediate crude oil retreated by 0.1% to $84.87 per barrel on the New York Mercantile Exchange. Natural gas was up 2.8% at $2.85 per 1 million British Thermal Units. The United States Oil Fund (USO) increased 0.1%, while the United States Natural Gas Fund (UNG) was 1.6% higher.Gold futures for November were up by 1.2% at $4,473.70 an ounce on the Comex. Silver futures gained 1.5% to $64.97 an ounce. SPDR Gold Shares (GLD) advanced by 2.2%, and the iShares Silver Trust (SLV) was 2.1% higher.
Energy Fuels' (UUUU) terbium oxide produced at the White Mesa Mill in Utah has been qualified for commercial use by one of Japan's largest rare earth permanent magnet manufacturers, the company said Wednesday.The Japan-based manufacturer approved Energy Fuels' terbium oxide for commercial permanent magnet production after confirming it meets its specifications, the company said.The qualification advances Energy Fuels' efforts to produce a full portfolio of rare earth oxides, following earlier qualifications for neodymium-praseodymium and dysprosium oxides.
The broad market exchange-traded fund SPDR S&P 500 ETF Trust (SPY) was up 0.1%, and the actively traded Invesco QQQ Trust (QQQ) advanced 0.3% in Friday's premarket activity, amid July retail sales data and rising oil prices.US stock futures were mixed, with S&P 500 Index futures up 0.1%, Dow Jones Industrial Average futures slipping 0.2%, and Nasdaq futures advancing 0.2% before the start of regular trading.US retail sales declined by 0.6% in July, compared with the expectation for a 0.1% increase in a survey compiled by Bloomberg and following the previous month's revised 0.2% increase.The business inventories data for June and the University of Michigan's preliminary consumer sentiment reading for August will be released at 10:00 am ET.In premarket action, bitcoin was down by 0.8%. Among cryptocurrency ETFs, the cryptocurrency fund ProShares Bitcoin Strategy ETF (BITO) was 1.29% lower, Ether ETF (EETH) retreated 0.65%, and Bitcoin & Ether Market Cap Weight ETF (BETH) was 0.01% lower.Power Play:Health CareThe State Street Health Care Select Sector SPDR ETF (XLV) retreated 0.23%, the Vanguard Health Care Index Fund (VHT) was down 1.3%, while the iShares US Healthcare ETF (IYH) was inactive. The iShares Biotechnology ETF (IBB) was inactive as well.Heartflow (HTFL) stock advanced 24.8% after the company reported overnight a narrower-than-anticipated Q2 loss and a surge in revenue.Winners and Losers:IndustrialThe State Street Industrial Select Sector SPDR ETF (XLI) rose 0.38%, while the Vanguard Industrials Index Fund (VIS) was 0.5% higher and the iShares US Industrials ETF (IYJ) was flat.York Space Systems (YSS) stock was down more than 11.4% after the company reported a wider Q2 loss and cut its 2026 revenue guidance.FinancialThe State Street Financial Select Sector SPDR ETF (XLF) fell 0.09%. Direxion Daily Financial Bull 3X Shares (FAS) was down 0.29%, while its bearish counterpart, Direxion Daily Financial Bear 3X Shares (FAZ), was 0.2% higher.Nu (NU) shares were up 15.3% after the company reported overnight a year-over-year surge in Q2 net income and revenue.ConsumerThe State Street Consumer Staples Select Sector SPDR ETF (XLP) was down 0.2%, the Vanguard Consumer Staples Index Fund ETF Shares (VDC) was flat, and the iShares US Consumer Staples ETF (IYK) was inactive. The State Street Consumer Discretionary Select Sector SPDR ETF (XLY) lost 0.2%. The VanEck Retail ETF (RTH) was inactive, while the State Street SPDR S&P Retail ETF (XRT) was flat.Reddit (RDDT) advanced by 11% in pre-bell activity a day after S&P Dow Jones Indices said Reddit will join the S&P 500 before the opening of trading on Aug. 18.TechnologyThe State Street Technology Select Sector SPDR ETF (XLK) was up 0.4%, the iShares US Technology ETF (IYW) was 0.6% higher, and the iShares Expanded Tech Sector ETF (IGM) was down 0.2%. Among semiconductor ETFs, the State Street SPDR S&P Semiconductor ETF (XSD) was 0.9% higher, while the iShares Semiconductor ETF (SOXX) rose by 0.3%.Sandisk (SNDK) shares were up more than 6% after Wells Fargo and RBC lifted their price targets on the company.EnergyThe iShares US Energy ETF (IYE) was up 0.4%, while the State Street Energy Select Sector SPDR ETF (XLE) was up by 0.3%.Energy Fuels (UUUU) stock was up more than 1% before the market opened after BMO Capital initiated the company with an outperform rating.CommoditiesFront-month US West Texas Intermediate crude oil gained by 0.6% to $81.71 per barrel on the New York Mercantile Exchange. Natural gas was up 1.3% at $2.76 per 1 million British Thermal Units. The United States Oil Fund (USO) gained 0.5%, while the United States Natural Gas Fund (UNG) was 1.2% higher.Gold futures for November were up by 0.2% to $4,429.90 an ounce on the Comex. Silver futures advanced 0.2% to $65.12 an ounce. SPDR Gold Shares (GLD) gained by 0.5%, and the iShares Silver Trust (SLV) was 0.8% 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.
Energy stocks were mixed Wednesday afternoon, with the NYSE Energy Sector Index 0.1% higher and the State Street Energy Select Sector SPDR ETF (XLE) down 0.1%.The Philadelphia Oil Service Sector Index was easing 0.2%, and the Dow Jones US Utilities Index increased 0.2%.In geopolitical news, a raft of top military appointments by Iran's Supreme Leader Mojtaba Khamenei marks a shift to an "offensive doctrine," Mohammad Reza Naqdi, a general in the Islamic Revolutionary Guard Corps who advises the force's new commander, said in an interview on state TV late Tuesday, according to a Bloomberg report.Front-month West Texas Intermediate crude oil shed 0.4% to $82.90 a barrel, and the global benchmark Brent crude contract fell 0.5% to $88.47 a barrel. Henry Hub natural gas futures rose 1.1% to $2.80 per 1 million BTU.In sector news, US crude oil stocks, including those in the Strategic Petroleum Reserve, rose by 11.3 million barrels in the week ended Aug. 7 following a decrease of 400,000 barrels in the previous week. Excluding inventories in the SPR, commercial crude oil stocks rose by 17.4 million barrels after a 2.5-million-barrel increase in the previous week, compared with the 1.8-million-barrel decrease expected in a Bloomberg survey.The Organization of the Petroleum Exporting Countries lowered its global oil demand growth outlook for 2026 on Wednesday, while projecting a stronger rebound for next year than previously estimated. The cartel now expects oil consumption this year to rise by 580,000 barrels a day this year, down from its previous month's outlook for an increase of 780,000 barrels and marking its fourth consecutive downward revision. For 2027, OPEC now forecasts world oil demand to increase by 2.16 million barrels a day, compared with a gain of 1.94 million barrels projected in July.The International Energy Agency on Wednesday projected a larger decline in global oil demand this year than previously estimated as the continued closure of the Strait of Hormuz weighs on consumption. Oil consumption is now forecast to decline by 1.6 million barrels a day in 2026, about 510,000 barrels more than the agency's prior estimate, it said in its latest monthly oil market report.In corporate news, Energy Fuels (UUUU) said shareholders of Australian Strategic Materials approved Energy Fuels' planned acquisition of the company at meetings held in Perth, Australia. Shares were down 1.4%.Borr Drilling (BORR) shares fell 3%. The firm reported that it swung to a Q2 loss as revenue declined during the period.TechnipFMC (FTI) won a contract valued at $75 million to $250 million to supply flexible flowlines and risers for Azule Energy's West Hub Tails project offshore Angola. Shares were up 0.7%.Edison International's (EIX) Southern California Edison was not found legally responsible for a 2025 Los Angeles-area wildfire after a California state judge declined to rule without a trial, Bloomberg reported Tuesday. Shares were shedding 1.7%.
Energy stocks were edging lower Wednesday afternoon, with the NYSE Energy Sector Index and the State Street Energy Select Sector SPDR ETF (XLE) each fractionally lower.The Philadelphia Oil Service Sector Index was easing 0.2%, and the Dow Jones US Utilities Index increased 0.2%.In geopolitical news, a raft of top military appointments by Iran's Supreme Leader Mojtaba Khamenei marks a shift to an "offensive doctrine," Mohammad Reza Naqdi, a general in the Islamic Revolutionary Guard Corps who advises the force's new commander, said in an interview on state TV late Tuesday, according to a Bloomberg report.Front-month West Texas Intermediate crude oil shed 0.4% to $82.90 a barrel, and the global benchmark Brent crude contract fell 0.5% to $88.47 a barrel. Henry Hub natural gas futures rose 1.1% to $2.80 per 1 million BTU.In corporate news, Energy Fuels (UUUU) said Wednesday that shareholders of Australian Strategic Materials approved Energy Fuels' planned acquisition of the company at meetings held in Perth, Australia. Energy Fuels shares were down 1.7%.
Energy Fuels (UUUU) said Wednesday that shareholders of Australian Strategic Materials approved Energy Fuels' planned acquisition of the company at meetings held in Perth, Australia.The company said Australian Strategic Materials' shareholders approved the share scheme, with 98.23% of votes cast in favor, while the option scheme received 99.97% support.The transaction still requires approval from the Federal Court of Australia, the company said, adding it will file its application on Aug. 18.If approved, the deal is expected to become effective Aug. 19, and close on Aug. 28, Energy Fuels said.Shares of Energy Fuels were up more than 1% in premarket activity Wednesday.
Energy Fuels (EFR.TO, UUUU) shares edged down in in after-hours New York trading after the company on Wednesday reported a second-quarter loss of $0.13 per share, or a net loss of $33.4 million, compared with a loss of $0.10 per share, or a net loss of $21.8 million, in the second quarter of 2025.The result was wider than FactSet analysts' estimate of a loss of $0.04 per share.Revenue for the three months ended June 30 rose to $25.1 million from $4.2 million in the prior-year period but missed the FactSet consensus estimate of $31.5 million.The company said its 2026 guidance remains unchanged.The shares were last down $0.11 to $12.33 in after-hours trading on the NYSE American. They closed down C$0.68 at C$17.43 on the Toronto Stock Exchange on Wednesday.
Energy Fuels (UUUU) said Wednesday it has started construction on an expansion of its White Mesa Mill facility in Utah for commercial-scale production of heavy rare earth oxides.The materials will be used by Energy Fuels to produce rare earth metals, alloys and magnets for automotive, robotics, data center, and energy and defense clients, the company said.The expansion project will have a capital expenditure of about $104 million, the company said, adding the amount is expected to be backed in large part by government grants and loans.Price: $11.33, Change: $-0.01, Percent Change: -0.04%
Energy stocks rose late Tuesday afternoon with the NYSE Energy Sector Index increasing 0.3% and the State Street Energy Select Sector SPDR ETF (XLE) adding 0.8%.The Philadelphia Oil Service Sector Index eased 0.1%, and the Dow Jones US Utilities Index gained 0.9%.West Texas Intermediate crude oil fell 0.7% to $73.31 a barrel, and global benchmark Brent declined 1% to $77.13 a barrel. Henry Hub natural gas futures dropped 3.2% to $3.15 per 1 million BTU.In corporate news, the US Supreme Court reversed and remanded rulings by lower courts, reviving Exxon Mobil's (XOM) lawsuit seeking more than $1 billion in damages from Cuban government-owned companies over assets confiscated after Fidel Castro seized of power in 1959. Exxon shares rose 1.2%.Petrobras (PBR) signed a memorandum of understanding with Petroleos Mexicanos to cooperate in areas of exploration and production, and industrial processes. Petrobras shares were little changed.Walmart (WMT) will buy nuclear power from Constellation Energy (CEG) under a long-term agreement split into two 15-year terms. Constellation shares fell 1.6%.Energy Fuels (UUUU) agreed to acquire Germany-based magnetics manufacturer Vacuumschmelze and related entities, collectively known as VAC, from private equity firm Ara Partners in a deal with an equity value of $1.9 billion. Energy Fuels shares fell 3.9%.
Energy stocks rose Tuesday afternoon, with the NYSE Energy Sector Index increasing 0.4% and the State Street Energy Select Sector SPDR ETF (XLE) adding 0.8%.The Philadelphia Oil Service Sector Index was rising 0.4%, and the Dow Jones US Utilities Index was up 0.7%.Front-month West Texas Intermediate crude oil decreased 0.8% to $73.23 a barrel, and the global benchmark Brent crude contract fell 1% to $77.13 a barrel. Henry Hub natural gas futures dropped 3% to $3.16 per 1 million BTU.In sector news, the Strait of Hormuz will remain open "with no further naval blockade," and Iran has agreed to the "highest level nuclear inspections," Al Jazeera cited US President Donald Trump as saying. Tehran has no plans to allow international inspections of its nuclear facilities, the Middle East news agency cited Iran's Foreign Affairs Ministry spokesman Esmaeil Baghaei as saying.Separately, the Trump administration is expected to announce a new deal Tuesday through which the Department of Energy will make available low-interest loans amounting to $17.5 billion for utilities to finance equipment orders for Westinghouse Electric's flagship nuclear reactor, The Wall Street Journal reported, citing the Energy Department and comments from Energy Secretary Chris Wright.The US and Qatar have warned that the EU could face higher gas prices and supply shortages unless it changes planned methane emissions rules, the Financial Times reported Tuesday, citing a draft letter seen by it.In corporate news, the US Supreme Court on Tuesday reversed and remanded rulings by lower courts, reviving Exxon Mobil's (XOM) lawsuit seeking more than $1 billion in damages from Cuban government-owned companies over assets confiscated following Fidel Castro's seizure of power in 1959. Exxon shares rose 1.2%.Walmart (WMT) will buy nuclear power from Constellation Energy (CEG) under a long-term agreement split into two 15-year terms, the companies said Tuesday. Constellation shares were shedding 0.2%.Energy Fuels (UUUU) said Tuesday it agreed to acquire Germany-based magnetics manufacturer Vacuumschmelze and related entities, collectively known as VAC, from private equity firm Ara Partners in a deal with an equity value of about $1.9 billion. Energy Fuels shares were down 2%.
The broad market exchange-traded fund SPDR S&P 500 ETF Trust (SPY) was down 1.4%, and the actively traded Invesco QQQ Trust (QQQ) retreated 3% in recent Tuesday premarket activity, amid a broad technology selloff fueled by concerns over borrowing costs and heavy spending on artificial intelligence infrastructure.US stock futures were also lower, with S&P 500 Index futures down 1.4%, Dow Jones Industrial Average futures slipping 0.5%, and Nasdaq futures retreating 3% before the start of regular trading.The S&P Global flash readings for June manufacturing and services conditions are due to be released at 9:45 am ET.The state-level unemployment data for May and the Richmond Fed's services and manufacturing readings for June will be released at 10:00 am ET.In premarket action, bitcoin was down by 4.4%. Among cryptocurrency ETFs, the cryptocurrency fund ProShares Bitcoin Strategy ETF (BITO) was 3.4% lower, Ether ETF (EETH) retreated by 5.5%, and Bitcoin & Ether Market Cap Weight ETF (BETH) was flat.Power Play:TechnologyThe State Street Technology Select Sector SPDR ETF (XLK) retreated 3.8%, and the iShares US Technology ETF (IYW) was 3.5% lower, while the iShares Expanded Tech Sector ETF (IGM) was down 3.4%. Among semiconductor ETFs, the State Street SPDR S&P Semiconductor ETF (XSD) declined by 5.8%, while the iShares Semiconductor ETF (SOXX) fell by 7%.International Business Machines (IBM) shares were up more than 4% in recent premarket activity after the company said it joined the OpenAI Daybreak Cyber Partner program.Winners and Losers:FinancialThe State Street Financial Select Sector SPDR ETF (XLF) was down 0.2%. Direxion Daily Financial Bull 3X Shares (FAS) retreated by 1.1%, while its bearish counterpart, Direxion Daily Financial Bear 3X Shares (FAZ), was 0.1% higher.Robinhood Markets (HOOD) shares traded down 5.6% in early hours activity after the online investment platform priced a private $2 billion offering of non-interest-bearing senior convertible notes, due Oct. 1, 2029.ConsumerThe State Street Consumer Staples Select Sector SPDR ETF (XLP) was up 1.5%, the Vanguard Consumer Staples Index Fund ETF Shares (VDC) was gaining by 0.2%, and the iShares US Consumer Staples ETF (IYK) was flat. The State Street Consumer Discretionary Select Sector SPDR ETF (XLY) lost 0.9%. The VanEck Retail ETF (RTH) was inactive, while the State Street SPDR S&P Retail ETF (XRT) retreated by 0.6%.Tesla (TSLA) shares were down 2.7% pre-bell, following a 1.1% gain at the previous day's close. NatPower said it has signed a multiyear supply and execution deal with Tesla for more than 25 gigawatt-hours of battery energy storage systems in Italy and the UK.Health CareThe State Street Health Care Select Sector SPDR ETF (XLV) advanced 0.7%, the Vanguard Health Care Index Fund (VHT) was up 0.4%, while the iShares US Healthcare ETF (IYH) was up 2%. The iShares Biotechnology ETF (IBB) was down 0.7%.Natera (NTRA) stock was down more than 2% premarket, extending the 1.1% decline at the prior close. The company said it has received a Category 1 recommendation from the National Comprehensive Cancer Network for Signatera-guided adjuvant atezolizumab treatment in patients with muscle-invasive bladder cancer.EnergyThe iShares US Energy ETF (IYE) was down 0.03%, while the State Street Energy Select Sector SPDR ETF (XLE) was up by 0.2%.Energy Fuels (UUUU) stock was down more than 2% before market open after the company agreed to acquire Germany's Vaccumschmelze and associated business and subsidiaries from Ara Partners for $1.9 billion in cash and stock.IndustrialThe State Street Industrial Select Sector SPDR ETF (XLI) declined by 1.2%, while the Vanguard Industrials Index Fund (VIS) was up less than 0.1% and the iShares US Industrials ETF (IYJ) was flat.A. O. Smith (AOS) stock little changed before the opening bell. The company said its board has elected Stephen Shafer, president and chief executive officer, as chairman, effective July 1, after Executive Chairman Kevin Wheeler retires.CommoditiesFront-month US West Texas Intermediate crude oil retreated by 0.3% to $73.60 per barrel on the New York Mercantile Exchange. Natural gas was down by 1.6% to $3.20 per 1 million British Thermal Units. The United States Oil Fund (USO) declined by 1%, while the United States Natural Gas Fund (UNG) was 1.5% lower.Gold futures for July were down by 1.6% to $4,134.70 an ounce on the Comex. Silver futures retreated by 5.1% to $62.21 an ounce. SPDR Gold Shares (GLD) declined by 2%, and the iShares Silver Trust (SLV) was 4.9% lower.
Energy Fuels (UUUU) said Tuesday it agreed to acquire Germany-based magnetics manufacturer Vacuumschmelze and related entities, collectively known as VAC, from private equity firm Ara Partners in a deal with an equity value of about $1.9 billion.Energy Fuels will pay approximately $718 million in cash and issue about 65.9 million shares of its common stock to acquire VAC from Ara Partners. Energy Fuels will also assume about $140 million of VAC's adjusted net debt.Energy Fuels shares fell 3.5% in the most recent premarket activity.VAC operates magnet production facilities in North America, Europe and Asia, including a South Carolina site with 2,000 metric tons per annum capacity and expansion potential to 12,000 metric tons annually. The acquisition combines Energy Fuels' upstream rare earth mining and processing assets with VAC's downstream magnet manufacturing operations, including facilities in North America, Europe and Asia."This is a transformational moment for Energy Fuels and the global rare earth supply chain," Chief Executive Ross Bhappu said in a statement. The company said the combination is expected to strengthen Western rare earth and magnet supply chains serving industries including automotive, aerospace, defense, robotics, data centers and industrial automation.The transaction is expected to close in early 2027, subject to regulatory approvals. If Energy Fuels' share price is below $20.93 at closing, Ara Partners will receive up to $135 million in preferred shares, the company said.Energy Fuels said the transaction complements its planned acquisition of Australian Strategic Materials and would position the combined company to operate across every major stage of the rare earth value chain.Energy Fuels said in January it agreed to acquire Australian Strategic Materials to build a rare earth supply chain spanning mining, processing, and metals and alloys production.
Energy Fuels (UUUU) has agreed to acquire Germany's Vaccumschmelze and associated business and subsidiaries from Ara Partners for $1.9 billion in cash and stock, the company said Tuesday.The deal consists of $718 million in cash and 65.9 million newly issued Energy Fuels shares, the company said.Vacuumschmelze is a magnetics company which also operates a facility in South Carolina, with capacity to produce 2,000 metric tons of permanent magnets per year, the company said.Following completion of the deal, Vacuumschmelze will become a wholly owned subsidiary of Energy Fuels while retaining its branding and German headquarters, the company said.The deal is expected to be accretive to Energy Fuels' earnings and cash flow, the company said.
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