$XE

X-Energy Shares Fall After Piper Sandler Initiates Coverage at Underweight

X-Energy (XE) shares were down nearly 10% in Wednesday trading after Piper Sandler initiated coverage of the stock at underweight with a $9 price target.Intraday trading volume stood at over 7.3 million shares compared with a daily average of about 5.6 million.Price: $17.29, Change: $-1.86, Percent Change: -9.71%

Piper Sandler Initiates X-Energy at Underweight With $9 Price Target

X-Energy (XE) has an average rating of overweight and mean price target of $34.38, according to analysts polled by FactSet.

X-Energy Receives Extra $1 billion in US Public Funds for Texas Nuclear Project

X-Energy (XE), a nuclear reactor developer will receive an additional payment of up to $1 billion in US public funding to back a nuclear power project in Texas, its Chief Executive Officer Clay Sell said on an earnings call Thursday.That will take total public financial support for the project in Seadrift, Texas, to up to $2.15 billion, Sell said, including initial funding provided in 2021. X-Energy is developing the project together with Dow Inc.The public funding is related to the US Energy Department's Advanced Reactor Demonstration Program which aims to speed up deployment of small reactors in tandem with the private sector.The project is expected to become the first grid-scale advanced nuclear reactor plant in the US and should start generation from the early 2030s."Our project with Dow is important not only because it's our initial deployment but because of the unmatched versatility for nuclear energy that it represents. When completed, our Xe-100s are expected to provide both electricity and high-temperature industrial steam for Dow's operations, demonstrating the range of applications our technology can address," Sell said.The funding for the project is conditional upon a 50-50 split in cost sharing with partners.The DOE did not immediately reply to' request for comment.

X-Energy Posts Q2 Adjusted Loss, Revenue Increases

X-Energy (XE) reported a Q2 adjusted loss Thursday of $0.15. Analysts polled by FactSet expected an adjusted loss of $0.11.The company launched its IPO of about 42.9 million class A common shares in April.Revenue for the quarter ended June 30 was $54.6 million, up from $21.5 million a year ago. Analysts expected $41.6 million.Shares of the company rose over 2% in recent premarket activity Thursday.Price: $20.93, Change: $+0.58, Percent Change: +2.87%

Centrus Energy to Provide Uranium Enrichment Services to X-Energy

Centrus Energy (LEU), a Maryland-based supplier of nuclear fuel, services and technology, has agreed to provide X-Energy (XE) enrichment services for low-enriched uranium and high-assay low-enriched uranium, the two companies said in a joint-statement on Thursday.X-Energy is a Maryland-based developer of advanced nuclear reactors and fuel technology."At full execution, the agreement meaningfully de-risks X-energy's Xe-100 project pipeline and would secure HALEU to support a portion of the initial fuel needs of X-energy's [11.5 gigawatt] commercial pipeline," the statement said.The agreement between the first two US Nuclear Regulatory Commission-licensed HALEU fuel facilities will help advance commercialization of next-generation nuclear fuels, it added.As per the deal terms, Centrus will supply HALEU enriched at its American Centrifuge Plant in Ohio to X-energy's subsidiary, Triso-X, for fuel production at the latter's facility in Tennessee."The agreement establishes terms for commitments operating under a phased approach to scale HALEU production in alignment with the advancement of X-energy's commercial pipeline," the statement added.

X-Energy, Centrus Energy Sign Long-Term HALEU Supply Deal

X-Energy (XE) and Centrus Energy (LEU) signed a definitive deal for long-term supply of high-assay, low-enriched uranium, or HALEU, the companies said Thursday.Under the deal, Centrus will provide X-energy with enrichment services for HALEU, helping de-risk X-energy's Xe-100 project pipeline and secure HALEU for a portion of the fuel that would power its 11.5-gigawatt commercial pipeline, according to the statement.No financial details were disclosed.X-Energy shares were up more than 8%, while Centrus shares were down over 2% in Thursday trading.Price: $20.47, Change: $+1.42, Percent Change: +7.45%

UBS Adjusts X-Energy Price Target to $34 From $40, Maintains Buy Rating

UBS Adjusts X-Energy Price Target to $34 From $40, Maintains Buy Rating

Exchange-Traded Funds Lower, Equity Futures Mixed Pre-Bell Friday After May Jobs Report

The broad market exchange-traded fund SPDR S&P 500 ETF Trust (SPY) was down 0.5%, and the actively traded Invesco QQQ Trust (QQQ) retreated by 1.3% in Friday's premarket activity, after the May jobs report.US stock futures were mixed, with S&P 500 Index futures down 0.5%, Dow Jones Industrial Average futures gaining 0.1%, and Nasdaq futures retreating 1% before the start of regular trading.US nonfarm payrolls increased by 172,000 in May, exceeding expectations for an 88,000 gain, while the unemployment rate held at 4.3% and average hourly earnings rose 0.3%, in line with forecasts.The weekly Baker Hughes oil-and-gas rig count posts at 1 pm.April's consumer credit data is scheduled for a 3:00 pm ET release.In premarket action, bitcoin was down by 1.8%. Among cryptocurrency ETFs, the cryptocurrency fund ProShares Bitcoin Strategy ETF (BITO) was 2% lower, Ether ETF (EETH) retreated by 5.8%, and Bitcoin & Ether Market Cap Weight ETF (BETH) was flat.Power Play:ConsumerThe State Street Consumer Staples Select Sector SPDR ETF (XLP) gained by 0.2%, and the Vanguard Consumer Staples Index Fund ETF Shares (VDC) was up 0.3%. 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) advanced by 0.1%.Lululemon Athletica (LULU) shares were down more than 11% pre-bell after multiple analysts cut their price targets following the athletic apparel retailer's lowering of its full-year outlook amid weak sales trends.Winners and Losers:Health CareThe State Street Health Care Select Sector SPDR ETF (XLV) advanced 0.8%, the Vanguard Health Care Index Fund (VHT) retreated by 0.3%, while the iShares US Healthcare ETF (IYH) slipped 0.7%. The iShares Biotechnology ETF (IBB) was flat.Cooper (COO) was up by nearly 8% premarket after the company reported higher fiscal Q2 adjusted earnings and revenue late Thursday.IndustrialThe State Street Industrial Select Sector SPDR ETF (XLI) retreated by 0.1%, while the Vanguard Industrials Index Fund (VIS) gained 0.5% and the iShares US Industrials ETF (IYJ) was inactive.CAE (CAE) gained by nearly 3% before the opening bell. The company said it has received regulatory approval for the renewal of its normal course issuer bid to purchase, for cancellation, up to about 16.1 million common shares, or about 5% of its outstanding share capital as of May 29.FinancialThe State Street Financial Select Sector SPDR ETF (XLF) advanced 0.2%. Direxion Daily Financial Bull 3X Shares (FAS) was up 0.4%, while its bearish counterpart, Direxion Daily Financial Bear 3X Shares (FAZ), was 0.4% lower.Affirm (AFRM) shares were down more than 2% pre-bell after closing the prior session with a 3.7% gain. Affirm and Canada Pension Plan Investment Board said Thursday that they renewed and expanded their forward-flow agreement for consumer installment loans.TechnologyThe State Street Technology Select Sector SPDR ETF (XLK) retreated 1.8%, and the iShares US Technology ETF (IYW) was 1.1% lower, while the iShares Expanded Tech Sector ETF (IGM) was up 0.7%. Among semiconductor ETFs, the State Street SPDR S&P Semiconductor ETF (XSD) was down 1.7%, while the iShares Semiconductor ETF (SOXX) fell by 3%.Nvidia (NVDA) shares were down 1.8% in premarket activity after ending Thursday's session with a 1.8% increase. Multiple media outlets reported Chief Executive Officer Jensen Huang as saying that the company cleared Samsung Electronics, SK Hynix, and Micron Technology to supply advanced high-bandwidth memory for its HBM4 artificial intelligence accelerators.EnergyThe iShares US Energy ETF (IYE) was up 0.3%, while the State Street Energy Select Sector SPDR ETF (XLE) was 0.2% higher.X-Energy (XE) stock was up more than 1% before the opening bell a day after the company reported total Q1 revenues and grant income of $43.4 million, representing a 109% increase compared to the prior-year period.CommoditiesFront-month US West Texas Intermediate crude oil retreated by 0.2% to $92.87 per barrel on the New York Mercantile Exchange. Natural gas was down 0.9% to $3.31 per 1 million British Thermal Units. The United States Oil Fund (USO) fell by 0.3%, while the United States Natural Gas Fund (UNG) was 1.7% lower.Gold futures for July retreated by 0.3% to $4,492.60 an ounce on the Comex. Silver futures declined by 1.4% to $72.91 an ounce. SPDR Gold Shares (GLD) was down by 0.2%, and the iShares Silver Trust (SLV) decreased by 1.5%.

Exchange-Traded Funds Lower, Equity Futures Mixed Pre-Bell Thursday as Investors Weigh Economic Data

The broad market exchange-traded fund SPDR S&P 500 ETF Trust (SPY) was down 0.4%, and the actively traded Invesco QQQ Trust (QQQ) fell by 1.2% in Thursday's premarket activity, as investors weighed economic data amid corporate earnings.US stock futures were mixed, with S&P 500 Index futures down 0.5%, Dow Jones Industrial Average futures gaining 0.4%, and Nasdaq futures retreating 1.3% before the start of regular trading.US employers announced 97,006 planned job cuts in May, the highest total for the month since 2020, driven largely by reductions in the technology sector, according to Challenger, Gray & Christmas on Thursday.US initial jobless claims rose to 225,000, above expectations of 215,000 and up from 212,000 in the prior week.US nonfarm productivity growth for the first quarter was revised down to an annualized rate of 0.3% from a preliminary estimate of 0.8%, falling short of expectations for a 0.4% increase, while unit labor cost growth was revised down to 1.8% from 2.3%, below forecasts of a 2.4% gain.Weekly natural gas stocks are due to be released at 10:30 am ET.Federal Reserve Richmond President Thomas Barkin and San Francisco President Mary Daly are slated to speak on Thursday.In premarket action, bitcoin was down by 4.6%. Among cryptocurrency ETFs, the cryptocurrency fund ProShares Bitcoin Strategy ETF (BITO) was 4.4% lower, Ether ETF (EETH) retreated 3.5%, and Bitcoin & Ether Market Cap Weight ETF (BETH) declined by 3%.Power Play:ConsumerThe State Street Consumer Staples Select Sector SPDR ETF (XLP) was up 1.5%, and the Vanguard Consumer Staples Index Fund ETF Shares (VDC) gained 1.4%. The iShares US Consumer Staples ETF (IYK) was 0.8% higher. The State Street Consumer Discretionary Select Sector SPDR ETF (XLY) advanced by 0.5%. The VanEck Retail ETF (RTH) was inactive, while the State Street SPDR S&P Retail ETF (XRT) was down 0.5%.LGI Homes (LGIH) shares were down more than 4% pre-bell after falling 5% at the prior close. The company said late Wednesday that it closed 498 homes in May, compared with 416 homes a year earlier.Winners and Losers:Health CareThe State Street Health Care Select Sector SPDR ETF (XLV) advanced 1.5%, the Vanguard Health Care Index Fund (VHT) was up 1.2%, while the iShares US Healthcare ETF (IYH) was flat. The iShares Biotechnology ETF (IBB) was 1% higher.BrightSpring Health Services (BTSG) stock was down more than 3% premarket after the company said late Wednesday it has priced a secondary offering by certain shareholders of 15 million shares at $58.75 per share.IndustrialThe State Street Industrial Select Sector SPDR ETF (XLI) advanced 0.8%, while the Vanguard Industrials Index Fund (VIS) was flat and the iShares US Industrials ETF (IYJ) was up 1%.X-Energy (XE) stock was down more than 3% before the opening bell after the company reported a wider Q1 net loss.TechnologyThe State Street Technology Select Sector SPDR ETF (XLK) retreated 2.3%, and the iShares US Technology ETF (IYW) was 1.6% lower, while the iShares Expanded Tech Sector ETF (IGM) was down 2.7%. Among semiconductor ETFs, the State Street SPDR S&P Semiconductor ETF (XSD) fell by 3.8%, while the iShares Semiconductor ETF (SOXX) declined by 4.3%.Accenture (ACN) shares were up more than 2% in premarket activity after the company agreed to a deal to embed AI and digital technologies in the operations of Tokyo Electric Power subsidiary TEPCO Solution Advance.EnergyThe iShares US Energy ETF (IYE) gained 0.1%, while the State Street Energy Select Sector SPDR ETF (XLE) was down by 0.7%.Clean Energy Fuels (CLNE) stock was up more than 1% before the opening bell after the company said it has begun producing renewable natural gas at its East Valley Dairy facility in Jerome, Idaho, its eighth dairy RNG project.FinancialThe State Street Financial Select Sector SPDR ETF (XLF) advanced 1%. Direxion Daily Financial Bull 3X Shares (FAS) was up 2.8%, while its bearish counterpart, Direxion Daily Financial Bear 3X Shares (FAZ), was 3% lower.Marsh & McLennan (MRSH) shares were up more than 1% pre-bell after the insurance broker and certain units signed a new $4.25 billion multi-currency unsecured five-year revolving credit facility with Citibank (C).CommoditiesFront-month US West Texas Intermediate crude oil retreated by 3.7% to $92.46 per barrel on the New York Mercantile Exchange. Natural gas was up 1.2% to $3.25 per 1 million British Thermal Units. The United States Oil Fund (USO) fell by 3.9%, while the United States Natural Gas Fund (UNG) was 1.1% higher.Gold futures for July gained by 1.6% to $4,539.90 an ounce on the Comex. Silver futures advanced by 1.5% to $74.77 an ounce. SPDR Gold Shares (GLD) was up by 1.1%, and the iShares Silver Trust (SLV) increased by 1.3%.

Cantor Fitzgerald Initiates X-Energy at Overweight With $38 Price Target

Sector Update: Energy Stocks Rise Late Afternoon

Energy stocks were higher late Tuesday afternoon, with the NYSE Energy Sector Index rising 0.8% and the State Street Energy Select Sector SPDR ETF (XLE) adding 1.4%.The Philadelphia Oil Service Sector Index was decreasing 0.3%, and the Dow Jones US Utilities Index rose 0.7%.Front-month West Texas Intermediate crude oil was down 0.8% at $107.77 a barrel, and the global benchmark Brent crude contract was shedding 0.6% to $111.39 a barrel. Henry Hub natural gas futures rose 3.6% to $3.13 per 1 million BTU.In corporate news, X-Energy (XE) can deploy about 20 gigawatts of nuclear power by 2040 underpinned by a solid technology value proposition, a capital-light business model, and commercial partnerships, Morgan Stanley said in a note. Morgan Stanley started coverage of the stock at overweight with a price target of $41. X-Energy shares gained 4%.Cenovus Energy's (CVE) addition of MEG Energy's Christina Lake asset to its portfolio late last year has created a huge in-situ oil sands complex which should yield synergistic development opportunities for decades to come, RBC Capital Markets said in a note. Cenovus shares rose 0.7%.Equinor (EQNR) shares climbed 2.8% after the firm said it has signed a five-year agreement with Dutch energy provider Eneco to supply natural gas from the Norwegian continental shelf.BP (BP) maintained the lockout at its Whiting refinery in Indiana after failing to reach a deal with the United Steelworkers, Local 7-1, the company said. BP shares were up 1%.

Sector Update: Energy

Energy stocks were higher late Tuesday afternoon, with the NYSE Energy Sector Index rising 0.8% and the State Street Energy Select Sector SPDR ETF (XLE) adding 1.4%.The Philadelphia Oil Service Sector Index was decreasing 0.3%, and the Dow Jones US Utilities Index rose 0.7%.Front-month West Texas Intermediate crude oil was down 0.8% at $107.77 a barrel, and the global benchmark Brent crude contract was shedding 0.6% to $111.39 a barrel. Henry Hub natural gas futures rose 3.6% to $3.13 per 1 million BTU.In corporate news, X-Energy (XE) can deploy about 20 gigawatts of nuclear power by 2040 underpinned by a solid technology value proposition, a capital-light business model, and commercial partnerships, Morgan Stanley said in a note. Morgan Stanley started coverage of the stock at overweight with a price target of $41. X-Energy shares rose 2.9%.

X-Energy Likely to be Key Player in Nuclear Fuel, Morgan Stanley Says

X-Energy (XE) can deploy around 20 gigawatts of nuclear power by 2040 underpinned by a solid technology value proposition, a capital-light business model, and commercial partnerships, Morgan Stanley said in a Tuesday note initiating stock coverage.X-energy is differentiated from its competitors with its arrangement to avoid construction risk in building nuclear reactors, by having its customers select a separate engineering, procurement and construction firm and own and operate the reactors, the report said.The company will earn revenues from technology fees, fees from services before the reactor commercial operation date, and long-term services fees, as well as the sale of its TRISO-X fuel for the Xe-100 reactors, according to the note.The company has a large total-addressable market opportunity, with electricity demand at a 3.6% compound annual growth rate through 2035, and data centers accounting for about 63% of incremental load, the note said."We think the company has a strong technology and commercial proposition, making it one of the key players to help shape the next generation of nuclear reactors," the report said.Morgan Stanley started coverage of the stock at overweight with a price target of $41.Price: $26.86, Change: $+1.26, Percent Change: +4.90%

JPMorgan Initiates X-Energy at Overweight With $38 Price Target

Morgan Stanley Initiates X-Energy at Overweight With $41 Price Target

Guggenheim Initiates X-Energy at Buy With $57 Price Target

UBS Initiates X-Energy at Buy With $40 Price Target

TD Cowen Initiates X-Energy at Buy With $35 Price Target

Jefferies Initiates X-Energy at Hold With $28 Price Target

Sector Update: Energy Stocks Softer Late Afternoon

Energy stocks declined late Friday afternoon, with the NYSE Energy Sector Index shedding 0.7% and the State Street Energy Select Sector SPDR ETF (XLE) decreasing 0.2%.The Philadelphia Oil Service Sector Index rose 1.8%, and the Dow Jones US Utilities Index added 0.1%.West Texas Intermediate crude oil fell 1.2% to $94.68 a barrel, and global benchmark Brent rose 0.5% to $105.64 a barrel. Henry Hub natural gas futures shed 3.7% to $2.52 per 1 million BTU.In corporate news, TotalEnergies (TTE) secured financing for its Mirny onshore wind and battery energy storage system project in southeast Kazakhstan. The stock fell 0.7%.X-Energy (XE) shares jumped 27% following their debut on Nasdaq.SLB (SLB) reported mixed Q1 results, reflecting headwinds from the Middle East conflict. The shares rose 2.8% as revenue topped estimates, while earnings fell.BP (BP) and Repsol have been accused of anti-competitive practices in a complaint filed with the European Commission by Spanish fuel wholesaler Hatta Energy, Bloomberg reported. BP shares were down 0.4%.