$XPRO

Sector Update: Energy Stocks Decline Tuesday Afternoon

Energy stocks were lower Tuesday afternoon, with the NYSE Energy Sector Index falling 1.3% and the State Street Energy Select Sector SPDR ETF (XLE) dropping 1.2%.The Philadelphia Oil Service Sector Index shed 2.6%, and the Dow Jones US Utilities Index was up 0.6%.President Donald Trump said talks with Iran were continuing and again threatened to destroy Iranian bridges and power plants if no deal is made, CNN reported. Iran's foreign ministry spokesman, Esmaeil Baghaei, said Tehran was not negotiating with the US but added that "intermediaries may convey messages from the American side to us regarding ongoing developments in the region," Al Jazeera reported.Front-month West Texas Intermediate crude oil fell 4.1% to $79.19 a barrel, and the global benchmark Brent crude contract dropped 4.5% to $81.98 a barrel. Henry Hub natural gas futures declined 2.7% to $2.71 per 1 million BTU.In corporate news, ExxonMobil (XOM) offers limited upside following its recent share-price gains, while Chevron (CVX) presents a stronger medium-term setup, BofA Securities said in a Tuesday note. BofA lowered its rating on ExxonMobil to neutral from buy while raising its price target to $158 from $154. BofA kept its buy rating on Chevron and increased its price target to $227 from $210. ExxonMobil fell 1.6%, and Chevron was down 1%.HF Sinclair (DINO) reported higher Q2 adjusted earnings and revenue, and raised its quarterly dividend. Separately, HF Sinclair said it plans to separate its Lubricants and Specialties segment into an independent publicly traded company. HF Sinclair shares were down 0.4%.Expro (XPRO) shares rose 0.5% after the company increased its 2026 revenue outlook.

Sector Update: Energy Stocks Edge Higher Pre-Bell Tuesday

Energy stocks were edging higher pre-bell Tuesday, with the State Street Energy Select Sector SPDR ETF (XLE) up 0.1%.The United States Oil Fund (USO) was down 0.8% and the United States Natural Gas Fund (UNG) was 1.3% lower.Front-month US West Texas Intermediate crude oil was 1.6% lower at $81.30 per barrel at the New York Mercantile Exchange. Global benchmark North Sea Brent crude oil fell 1.9% to $86.68 per barrel, and natural gas futures were down 1.5% at $2.73 per 1 million British Thermal Units.HF Sinclair (DINO) stock was up more than 1% after the company reported higher Q2 adjusted earnings and revenue, and raised its quarterly dividend. Separately, HF Sinclair said it plans to separate its Lubricants and Specialties segment into an independent publicly traded company.Expro (XPRO) shares were up more than 3% after the company increased its 2026 revenue outlook.TotalEnergies (TTE) and Eni (E) reached a final investment decision to develop the Cronos gas field offshore Cyprus, marking the country's first gas development project. TotalEnergies stock was 0.5% higher premarket.

Exchange-Traded Funds, Equity Futures Mixed Pre-Bell Tuesday Amid Renewed Pressure on Semiconductor Stocks

The broad market exchange-traded fund SPDR S&P 500 ETF Trust (SPY) was up 0.02%, and the actively traded Invesco QQQ Trust (QQQ) retreated 0.8% in Tuesday's premarket activity, as markets traded mixed amid renewed pressure on semiconductor stocks.US stock futures were also mixed, with S&P 500 Index futures up 0.1%, Dow Jones Industrial Average futures slipping 0.3%, and Nasdaq futures gaining 0.8% before the start of regular trading.The US advance international trade in goods deficit narrowed to $101.46 billion in June from $105.89 billion in May, according to data released by the US Census Bureau, compared with a narrower gap of $100 billion expected in a survey compiled by Bloomberg as of 7:40 am ET.May's home price data will be released at 9:00 am ET, followed by consumer confidence and the Richmond Federal Reserve's conditions readings, both for July, at 10:00 am ET.The Dallas Fed's nonmanufacturing index for July is due to be released at 10:30 am ET.In premarket action, bitcoin was down by 2.3%. Among cryptocurrency ETFs, the cryptocurrency fund ProShares Bitcoin Strategy ETF (BITO) was 2.2% lower, Ether ETF (EETH) fell 3.8%, and Bitcoin & Ether Market Cap Weight ETF (BETH) was up 1.9%.Power Play:ConsumerThe State Street Consumer Staples Select Sector SPDR ETF (XLP) was up 1.7%, the Vanguard Consumer Staples Index Fund ETF Shares (VDC) was flat, and the iShares US Consumer Staples ETF (IYK) was 0.5% higher. The State Street Consumer Discretionary Select Sector SPDR ETF (XLY) gained 0.1%. The VanEck Retail ETF (RTH) and the State Street SPDR S&P Retail ETF (XRT) were inactive.Unilever (UL) shares were up more than 8% pre-bell after the company reported higher Q2 turnover and underlying sales.Winners and Losers:FinancialThe State Street Financial Select Sector SPDR ETF (XLF) advanced 0.5%. Direxion Daily Financial Bull 3X Shares (FAS) was up 1.4%, while its bearish counterpart, Direxion Daily Financial Bear 3X Shares (FAZ), was 1.5% lower.Barclays (BCS) shares traded down 6.4% in early-hours activity even after the company reported higher Q2 earnings and total income.EnergyThe iShares US Energy ETF (IYE) was down 1.1%, while the State Street Energy Select Sector SPDR ETF (XLE) was up by 0.1%.Expro (XPRO) stock was up more than 5% before market open after the company raised its 2026 revenue guidance.IndustrialThe State Street Industrial Select Sector SPDR ETF (XLI) retreated 0.1%, while the Vanguard Industrials Index Fund (VIS) was 0.7% higher and the iShares US Industrials ETF (IYJ) was flat.GE Vernova (GEV) stock was down more than 4% before the opening bell following a 1.8% loss in the prior session. The company said it was selected to replace two pumped storage units at First Hydro's Dinorwig hydropower plant in the UK.Health CareThe State Street Health Care Select Sector SPDR ETF (XLV) advanced 1.3%, the Vanguard Health Care Index Fund (VHT) was up 0.9%, while the iShares US Healthcare ETF (IYH) gained 0.4%. The iShares Biotechnology ETF (IBB) was flat.CG Oncology (CGON) stock was up more than 1% premarket after the company reported durable responses and bladder preservation in patients with high-risk Bacillus Calmette-Guerin-unresponsive non-muscle invasive bladder cancer in its phase 3 study of cretostimogene grenadenorepvec.TechnologyThe State Street Technology Select Sector SPDR ETF (XLK) retreated 2%, the iShares US Technology ETF (IYW) was 0.8% lower, and the iShares Expanded Tech Sector ETF (IGM) was down 1.7%. Among semiconductor ETFs, the State Street SPDR S&P Semiconductor ETF (XSD) fell 2.5%, while the iShares Semiconductor ETF (SOXX) declined by 4.2%.Nvidia (NVDA) shares were down 0.8% in premarket activity after falling 5% at the previous close, while Apple (AAPL) gained 0.4% after a 1.2% rise at Monday's close. Apple surpassed Nvidia as the world's most valuable company on Monday, marking the first time it has closed above the chipmaker since April 2025. Bloomberg reported Tuesday that Taiwanese prosecutors have detained an Nvidia employee as part of an investigation into the alleged smuggling of advanced AI chips to China.CommoditiesFront-month US West Texas Intermediate crude oil declined by 1% to $81.79 per barrel on the New York Mercantile Exchange. Natural gas was down by 1.6% to $2.72 per 1 million British Thermal Units. The United States Oil Fund (USO) was down 0.2%, while the United States Natural Gas Fund (UNG) was 1.5% lower.Gold futures for November retreated 1.2% to $4,088.50 an ounce on the Comex. Silver futures were down 2% to $57.53 an ounce. SPDR Gold Shares (GLD) decreased 1.4%, and the iShares Silver Trust (SLV) was 2.1% lower.

Expro Q2 Adjusted Net Income, Revenue Fall; Boosts 2026 Revenue Guidance

Expro (XPRO) reported Q2 adjusted net income Tuesday of $0.15 per diluted share, down from $0.30 a year earlier.Analysts polled by FactSet expected $0.17.Revenue for the quarter ended June 30 was $393.2 million, down from $422.7 million a year earlier.Analysts surveyed by FactSet expected $387.4 million.Expro expects a Q3 revenue guidance range of $435 million to $455 billion. Analysts polled by FactSet expect $408.6 million.For 2026, the company now expects revenue $1.65 billion to $1.70 billion, up from $1.60 billion to $1.65 billion. Analysts surveyed by FactSet expect $1.6 billion.

Earnings Flash (XPRO) Expro Posts Q2 Adjusted EPS $0.15, vs. FactSet Est of $0.17

Earnings Flash (XPRO) Expro Posts Q2 Revenue $393.2M, vs. FactSet Est of $387.4M

Sector Update: Energy Stocks Mostly Higher Pre-Bell Thursday

Energy stocks were mostly higher premarket Thursday, with the State Street Energy Select Sector SPDR ETF (XLE) gaining 0.6%.The United States Oil Fund (USO) was up 0.1%, while the United States Natural Gas Fund (UNG) was 1.5% lower.Front-month US West Texas Intermediate crude oil was up 0.5% to $90.46 per barrel at the New York Mercantile Exchange. Global benchmark North Sea Brent crude oil rose 0.2% to $93.26 per barrel, and natural gas futures were 1.7% lower at $3.13 per 1 million British Thermal Units.BP (BP) stock was up more than 2% before market open a day after the company said its Whiting refinery team held a 63rd formal bargaining meeting with the United Steelworkers Local 7-1 committee to discuss a new labor contract.Energy Fuels (UUUU) shares rose 3.2% after the company said it expects finished uranium production at its White Mesa Mill to reach approximately 1.6 million pounds by June 30, which would already be within its full-year guidance range of 1.5 million to 2.5 million pounds of U3O8.Expro (XPRO) shares gained 1.3% pre-bell after the company said it signed a two-year contract with a major operator in the United Arab Emirates to provide testing and flowback services for unconventional wells.

Expro Signs 2-Year Contract to Support Unconventional Wells in UAE

Expro (XPRO) signed a two-year contract with a major operator in the United Arab Emirates to provide testing and flowback services for unconventional wells, the company said Thursday.The contract covers surface well testing services and operational support, which Expro said will help accelerate resource development and reduce operational risk.

Sector Update: Energy Stocks Mixed Late Afternoon

Energy stocks were mixed late Thursday afternoon, with the NYSE Energy Sector Index increasing 0.2% and the State Street Energy Select Sector SPDR ETF (XLE) 0.1% lower.The Philadelphia Oil Service Sector Index climbed up 1.7%, and the Dow Jones US Utilities Index rose 0.5%.Front-month West Texas Intermediate crude oil fell 3% to $93.11 a barrel, and the global benchmark Brent crude contract dropped 2.7% to $95.18 a barrel. Henry Hub natural gas futures rose 4.7% to $3.37 per 1 million BTU.In sector news, US Treasury Secretary Scott Bessent said waivers allowing countries to buy Russian oil could be granted on a country-by-country basis rather than across the board, Bloomberg reported, citing the official's testimony before the House Ways and Means Committee.In corporate news, Venture Global (VG) shares jumped 5.8% after JPMorgan upgraded the stock to overweight from neutral and increased its price target to $17 from $16.Expro (XPRO) shares surged past 8% after the company said it has filed its definitive proxy statement with the Securities and Exchange Commission regarding its proposed move to redomicile in the Cayman Islands from the Netherlands.Solaris Energy Infrastructure (SEI) is expected to continue to expand capacity despite facing a tight supply chain in the near term, Morgan Stanley said in a note. Morgan Stanley kept its overweight rating and increased its price target to $90 from $81. Solaris shares rose 3%.Murphy Oil (MUR) shares rose 2.3% after KeyBanc upgraded the stock to overweight from sector weight.

Sector Update: Energy Stocks Edge Higher Thursday Afternoon

Energy stocks were slightly higher Thursday afternoon, with the NYSE Energy Sector Index increasing 0.1% and the State Street Energy Select Sector SPDR ETF (XLE) adding 0.2%.The Philadelphia Oil Service Sector Index climbed 1.3%, and the Dow Jones US Utilities Index increased 0.1%.Front-month West Texas Intermediate crude oil fell 4% to $92.18 a barrel, and the global benchmark Brent crude contract dropped 3.2% to $94.64 a barrel. Henry Hub natural gas futures rose 4.2% to $3.35 per 1 million BTU.In sector news, Hezbollah on Thursday rejected the latest ceasefire agreement between Israel and the Lebanese government, demanding a complete Israeli withdrawal from Lebanon as more fighting there hampered efforts to end the Iran war, the Associated Press reported. This comes as the House on Wednesday approved a war powers resolution that would halt US military action against Iran, according to a separate Associated Press report.Separately, President Donald Trump is set to announce $500 million in federal funding to support domestic coal-fired power plants and a coal export terminal, invoking the 1950 Defense Production Act, Bloomberg reported. The plan includes $425 million for 13 existing coal plants and separate Energy Department grants for two new plants in Alaska and West Virginia, Bloomberg said.In corporate news, Murphy Oil (MUR) shares rose 2.8% after KeyBanc upgraded the stock to overweight from sector weight.Expro (XPRO) shares jumped past 6% after the company said it has filed its definitive proxy statement with the Securities and Exchange Commission regarding its proposed move to redomicile in the Cayman Islands from the Netherlands.Solaris Energy Infrastructure (SEI) is expected to continue to expand capacity despite facing a tight supply chain in the near term, Morgan Stanley said in a note. Morgan Stanley retained an overweight rating on the stock and increased its price target to $90 from $81. Solaris shares rose 1.9%.

Sector Update: Energy Stocks Lean Lower Premarket Thursday

Energy stocks were leaning lower premarket Thursday, with the State Street Energy Select Sector SPDR ETF (XLE) declining by 0.8%.The United States Oil Fund (USO) was down 3.2% and the United States Natural Gas Fund (UNG) was 2% higher.Front-month US West Texas Intermediate crude oil was 3.7% lower at $92.51 per barrel at the New York Mercantile Exchange. Global benchmark North Sea Brent crude oil fell 3.1% to $94.77 per barrel, and natural gas futures were up 2.5% at $3.29 per 1 million British Thermal Units.Expro Group (XPRO) shares were up more than 1% after the company said it has filed its definitive proxy statement with the Securities and Exchange Commission regarding its proposed move to redomicile in the Cayman Islands from the Netherlands.TransAlta (TAC) said it has agreed to buy two natural gas-fired peaking facilities in Colorado from Blackstone units in a $1.0 billion deal, including $750 million of debt. TransAlta stock was down more than 5% premarket.DHT (DHT) secured a new $250 million revolving credit facility to strengthen financial flexibility and lengthen its debt maturity schedule, the company said. DHT shares were 0.1% lower pre-bell.

Sector Update: Energy

Energy stocks were leaning lower premarket Thursday, with the State Street Energy Select Sector SPDR ETF (XLE) declining by 0.8%.The United States Oil Fund (USO) was down 3.1% and the United States Natural Gas Fund (UNG) was 2% higher.Front-month US West Texas Intermediate crude oil was 3.3% lower at $92.85 per barrel at the New York Mercantile Exchange. Global benchmark North Sea Brent crude oil fell 3% to $94.89 per barrel, and natural gas futures were up 2.9% at $3.31 per 1 million British Thermal Units.Expro Group (XPRO) shares were up more than 1% after the company said it has filed its definitive proxy statement with the Securities and Exchange Commission regarding its proposed move to redomicile in the Cayman Islands from the Netherlands.

Expro Group Advances Plan to Move Domicile to Cayman Islands

Expro Group (XPRO) said Thursday it has filed its definitive proxy statement with the Securities and Exchange Commission regarding its proposed move to redomicile in the Cayman Islands from the Netherlands.Expro said the move would cut annual costs by more than $600,000, improve flexibility for dividends and buybacks, and potentially enhance index eligibility and M&A flexibility.In addition, shareholders would retain the same economic ownership in the company, which would remain listed on the NYSE under the "XPRO" ticker, Expro said.Expro said proxy advisory firm Institutional Shareholder Services has revised its initial position and now recommends shareholders vote in favor of the redomicile proposal.

Goldman Sachs Upgrades Expro Group to Buy From Neutral, Price Target is $19

Expro Group (XPRO) has an average rating of overweight and mean price target of $18, 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://finwires.com/en/contact)

Expro Gets Contract Extension for Subsea Services in Gulf of America

Expro (XPRO) signed a contract extension of up to five years with a global operator to continue subsea completion and intervention services in the Gulf of America, the company said Thursday.Under the new multi-million-dollar deal, the company will provide subsea landing string services, reinforcing a partnership that has spanned more than two decades, Expro said.The company's shares were up 1% in Thursday's premarket activity.

Expro Q1 Adjusted Net Income, Revenue Fall; Agrees to Acquire Enhanced Well Technologies

Expro Group (XPRO) reported Q1 adjusted net income Tuesday of $0.09 per diluted share, down from $0.25 a year earlier.Revenue for the quarter ended March 31 was $367.6 million, down from $390.9 million a year earlier.Analysts surveyed by FactSet expected $361.6 million.For 2026, the company reaffirmed its revenue guidance range of $1.60 billion to $1.65 billion. Analysts surveyed by FactSet expect $1.59 billion.Additionally, Expro Group said it has signed a definitive agreement to acquire Enhanced Well Technologies for about 2 billion Norwegian kroner ($216.4 million) in cash plus customary closing and working capital adjustments.The acquisition is expected to be immediately accretive to cash flow, add about $275 million of order backlog, and close during Q3, Expro Group said.