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Sector Update: Healthcare

Healthcare stocks were rising premarket Monday, with the State Street Health Care Select Sector SPDR ETF (XLV) 0.2% higher and the iShares Biotechnology ETF (IBB) up 0.4%.Moderna (MRNA) stock was up more than 8% after the company, as per Bloomberg, said it has been working on early-stage vaccines targeting hantaviruses.

$MRNA

Sectors90d ago

Sector Update: Consumer

Consumer stocks were mixed pre-bell Monday, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) slightly higher and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) marginally declining.Dream Finders Homes (DFH) has submitted an all-cash proposal to acquire Beazer Homes USA (BZH) for $25.75 per share. Shares of Beazer Homes USA were up more than 34% premarket.

$BZH$DFH

Sectors90d ago

Sector Update: Tech

Technology stocks were advancing premarket Monday, with the State Street Technology Select Sector SPDR Fund (XLK) 0.2% higher and the State Street SPDR S&P Semiconductor ETF (XSD) up 1.2%.Monday.com (MNDY) stock was up more than 21% after the company posted higher Q1 adjusted earnings and revenue, and raised its 2026 revenue outlook.

$MNDY

Sectors90d ago

Oil Rises as the United States Rejects Iran's Response to Its Peace Proposal

Oil prices rose early on Monday after the United States rejected Iran's response to its peace proposal, calling it unacceptable, continuing the war that has produced the largest-ever energy supply shock.West Texas Intermediate crude oil for June delivery was last seen up US$2.92 to US$98.34 per barrel, while July Brent oil was up US$2.93 to US$104.33.Iran replied to a U.S. peace offer last week with a plan of its own, delivering a response on Sunday that included demands for compensation for war damages, acknowledgement of its control of the Strait of Hormuz, an end to Israel's war on Lebanon and the removal of sanctions on it oil exports and nuclear enrichment program.Iran's demands were dismissed by U.S. President Trump. who called the demands "totally unacceptable" in a social media post.The war launched by the United States and Israel is now in its tenth week, leaving the Strait of Hormuz closed to tankers that delivered 20% of daily demand for oil, LNG and refined products. Iran's blockade of the Strait has forced Asian nations that rely on Persian Gulf imports to bid up spot prices for oil, caused shortages of aviation fuel and raised inflation as gasoline costs climb."The two sides continue to maintain a fragile ceasefire while the effective closure of the Strait of Hormuz drags on. After briefly trading down to USD 96 last week on renewed hopes the strait would reopen, Brent has rebounded above USD 105. Morgan Stanley has described the situation as a "race against time," warning that recent mitigating factors - such as a surge in U.S. exports (+3.8 mb/d YoY over the past 30 days) and weaker Chinese imports (-5.5 mb/d) - cannot persist indefinitely. That increasingly leaves demand destruction through slower consumption growth and higher prices as the only viable mechanisms to rebalance the market," Saxo Bank wrote.

$CLM6$LCON6$USO

Sectors90d ago

Brent Crude Up 2.2% at US$103.55 and NY Crude Up 2.2% at Near US$97.50

$CLM6$LCON6$USO

Sectors90d ago

Crude Oil Prices Surge on Lack of Peace Deal Between U.S. and Iran

Crude oil prices rose on Monday after U.S. President Donald Trump said Iran's response to its proposal for a halt to the war was "unacceptable."Brent crude at last look gained 2.4% to US$103.74/barrel and West Texas Intermediate crude climbed 2.2% to $97.55/barrel. The lack of a deal between the U.S. and Iran has renewed concerns that the global oil market will remain tight as the Strait of Hormuz remains effectively closed, Reuters said in a Monday note."Despite reassuring noises that back channels are still open and the parties are talking, our take is that the U.S. and Iran are as far away from agreement as when this supposed ceasefire started," Reuters quoted PVM Oil Associates analyst John Evans as saying.Even if the strait is reopened, it will take several months for the energy markets to normalize, the report said, citing analysts and Saudi Aramco CEO Amin Nasser.

$CLX1$LCOX1$USO

Sectors93d ago

Sector Update: Energy Stocks Lower in Late Afternoon Trading

Energy stocks were lower late Friday afternoon, with the NYSE Energy Sector Index and the State Street Energy Select Sector SPDR ETF (XLE) each decreasing about 0.4%.The Philadelphia Oil Service Sector Index rose 1%, and the Dow Jones US Utilities Index shed 0.7%.In sector news, crude oil prices rose Friday as tensions flared up again in the Middle East conflict ahead of Iran's expected response to a US proposal to end the war. US forces disabled three empty Iranian oil tankers that violated the American blockade in the Strait of Hormuz in the past three days, US Central Command said Friday. The US and Iran traded fire Thursday in the narrow waterway. US Secretary of State Marco Rubio expects Iran to respond to Washington's peace proposal on Friday, CNBC reported.Front-month West Texas Intermediate crude oil rose 0.6% to $95.41 a barrel, and the global benchmark Brent crude contract was advancing 1% to $101.07 a barrel. Henry Hub natural gas futures fell 0.7% to $2.75 per 1 million BTU.In corporate news, Calumet (CLMT) shares fell 7% after it reported a Q1 loss Friday of $3.64 per diluted share, widening from a loss of $1.87 a year earlier. Analysts surveyed by FactSet expected a loss of $0.33.Devon Energy (DVN) stock rose 0.5% after it launched a new share repurchase authorization of $8 billion and raised its fixed dividend to $0.32 per share, payable June 30 to shareholders of record June 15.Shell (SHEL) CEO Wael Sawan said the global oil market faces a shortage of nearly 1 billion barrels of crude due to the ongoing Iran conflict, warning that the supply deficit is "deepening every single day." Shell shares were down 0.4%.Presidio Production (FTW) signed definitive purchase and sale agreements to acquire the Canyon Creek assets for about $83 million in its first acquisition as a public company, the company said Friday. Presidio shares rose 4.2%.

$CLMT$DVN$FTW$SHEL

Sectors93d ago

Sector Update: Financial Stocks Decline Late Afternoon

Financial stocks were lower late Friday afternoon, with the NYSE Financial Index decreasing 0.1% and the State Street Financial Select Sector SPDR ETF (XLF) shedding 0.5%.The Philadelphia Housing Index was up 0.1%, and the State Street Real Estate Select Sector SPDR ETF (XLRE) added 0.4%.Bitcoin (BTC-USD) rose 0.1% to $80,056, and the yield for 10-year US Treasuries lost 2.8 basis points to 4.36%.In economic news, the April employment report showed nonfarm payrolls rose by 115,000, above the 65,000 jobs rise expected in a Bloomberg survey, while March payrolls were revised up to a 185,000 increase and February payrolls were revised down to a 156,000 decrease.The University of Michigan's preliminary consumer sentiment index fell to 48.2 in May from 49.8 in April, lower than the expectations for a smaller decrease to 49.5 in a Bloomberg poll.In corporate news, Apollo Global Management (APO) and Blackstone (BX) are among the private-credit firms involved in discussions with Broadcom (AVGO) on $35 billion in financing, Bloomberg reported. Apollo shares rose 3.8%, and Blackstone added 1%.Block (XYZ) shares jumped past 7% after the company late Thursday reported higher adjusted earnings and revenue that also beat analysts' estimates.Two Harbors Investment (TWO) shares rose 1.3% after the firm said it signed an amended merger agreement with CrossCountry Mortgage to increase the all-cash buyout offer to $12 per share from $11.30.Goldman Sachs-backed (GS) Go is seeking a valuation of about 200 billion Japanese yen ($1.28 billion) for its initial public offering in Tokyo, Bloomberg reported. Goldman was up 1.1%.

$APO$BX$GS$TWO$XYZ

Sectors93d ago

Sector Update: Healthcare Stocks Lower Late Afternoon

Healthcare stocks declined late Friday afternoon, with the NYSE Healthcare Index and the State Street Healthcare Select Sector SPDR ETF (XLV) each shedding about 0.9%. The iShares Biotechnology ETF (IBB) decreased 0.3%.In sector news, President Donald Trump has approved a plan to fire the US Food and Drug Administration Commissioner Marty Makary, the Wall Street Journal reported Friday. Trump expressed displeasure in recent days with Makary for taking too long to approve flavored vapes and nicotine pouches, the Journal reported earlier this week.In corporate news, Zoetis (ZTS) shares fell past 5% after Ameriprise downgraded the stock to hold from buy following its Q1 results Thursday. UBS also cut its price target to $99 from $130, and Jefferies to $117 from $155.Traws Pharma (TRAW) shares surged 28%. The company said Friday it plans to develop potential therapies for the treatment and prevention of hantavirus infections using its portfolio of antiviral drug candidates targeting negative-strand RNA viruses.Novo Nordisk (NVO) saw a 40% month-on-month surge in April sales of its diabetes and weight-loss drugs in India after slashing prices, despite a flood of generic versions, Bloomberg reported, citing data from market researcher Pharmarack. Novo added 0.5%.PTC Therapeutics (PTCT) shares jumped past 14% after posting a smaller-than-expected net loss for Q1, as well as total revenue that surpassed analysts' consensus.

$NVO$PTCT$TRAW$ZTS

Sectors93d ago

Sector Update: Tech Stocks Gain Late Afternoon

Tech stocks were higher late Friday afternoon, with the State Street Technology Select Sector SPDR ETF (XLK) rising 3.2% and the State Street SPDR S&P Semiconductor ETF (XSD) climbing 5.3%.The Philadelphia Semiconductor index rose 5.2%.In corporate news, Amazon-backed (AMZN) Anthropic has signed a $1.8 billion computing deal with Akamai Technologies (AKAM), a cloud services provider, to help meet surging demand for its AI software, Bloomberg reported. Akamai shares surged 26%, and Amazon added 0.8%.Apple (AAPL) and Intel (INTC) have reached a preliminary agreement under which Intel will make some of the chips powering Apple devices, The Wall Street Journal reported Friday. Apple shares rose 2.2%, and Intel jumped past 13%.Apple and Meta Platforms (META) have publicly opposed a Canadian bill that could require them to break the encryption of their devices and services, Reuters reported. Canada's ruling Liberal Party proposed Bill C-22, which law enforcement officials claim would help them probe security threats earlier and take immediate action, the report said. Meta was down 1.1%.Hedge fund TCI cut its stake in Microsoft (MSFT) to 1% of its portfolio at the end of March from 10% at the end of last year, the Financial Times reported. Microsoft shares shed 1.5%.

$AAPL$AKAM$AMZN$INTC$META$MSFT

Sectors93d ago

Sector Update: Consumer Stocks Rise Late Afternoon

Consumer stocks were higher late Friday afternoon, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) up 0.3% and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) adding 0.2%.In corporate news, Brown-Forman (BF.A, BF.B) and Pernod Ricard's $15 billion deal talks fell apart over control of the combined company, Semafor reported Friday. While Brown-Forman is the slightly smaller of the two companies, the Brown family wanted to take a stake in the combined company that would have been larger than the Ricard family's, the report said. Brown-Forman Class A shares were up 0.7%, and its Class B shares rose 1.4%.Monster Beverage (MNST) shares jumped past 13% after the company reported Q1 results above market estimates amid strong growth in the energy drinks category.Airbnb's (ABNB) Q1 earnings lagged Wall Street's estimates, while the vacation rental firm reported higher-than-expected revenue amid demand momentum. Its shares were up 1.1%.Wendy's (WEN) reiterated its full-year outlook on Friday as the fast food chain's fiscal Q1 revenue unexpectedly increased year over year. Its shares climbed 5.3%.

$ABNB$BF.A$BF.B$MNST$WEN

Sectors93d ago

Sector Update: Energy

Energy stocks were lower late Friday afternoon, with the NYSE Energy Sector Index and the State Street Energy Select Sector SPDR ETF (XLE) each decreasing 0.4%.The Philadelphia Oil Service Sector Index rose 1%, and the Dow Jones US Utilities Index shed 0.7%.Front-month West Texas Intermediate crude oil rose 0.6% to $95.41 a barrel, and the global benchmark Brent crude contract was advancing 1% to $101.07 a barrel. Henry Hub natural gas futures decreased 0.7% to $2.75 per 1 million BTU.In corporate news, Presidio Production (FTW) signed definitive purchase and sale agreements to acquire the Canyon Creek assets for about $83 million in its first acquisition as a public company, the company said Friday. Presidio shares rose 4.6%.

$FTW

Sectors93d ago

Sector Update: Financial

$APO$BX

Sectors93d ago

Sector Update: Healthcare

Healthcare stocks declined late Friday afternoon, with the NYSE Healthcare Index and the State Street Healthcare Select Sector SPDR ETF (XLV) each shedding 0.9%.The iShares Biotechnology ETF (IBB) decreased 0.3%.In corporate news, PTC Therapeutics (PTCT) shares jumped past 14% after posting a smaller-than-expected net loss for Q1, as well as total revenue that surpassed analysts' consensus.

$PTCT

Sectors93d ago

Sector Update: Consumer

Consumer stocks were higher late Friday afternoon, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) up 0.4% and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) adding 0.3%.In corporate news, Brown-Forman (BF.A, BF.B) and Pernod Ricard's $15 billion deal talks fell apart over control of the combined company, Semafor reported Friday. While Brown-Forman is the slightly smaller of the two companies, the Brown family wanted to take a stake in the combined company that would have been larger than the Ricard family's, the report said. Brown-Forman Class A shares were up 0.4%, and its Class B shares rose 0.9%.

$BF.A$BF.B

Sectors93d ago

Sector Update: Tech

$AAPL$META

Sectors93d ago

Gold Settled Up 0.4% Friday, and Silver Rose 0.9%, With Both Metals Up For a Fourth-consecutive Session and Posting Gains For the Week, says The WSJ

$GCM6$GLD

Sectors93d ago

Sector Update: Energy Stocks Lower in Afternoon Trading

Energy stocks were lower Friday afternoon, with the NYSE Energy Sector Index decreasing 0.2% and the State Street Energy Select Sector SPDR ETF (XLE) fractionally lower.The Philadelphia Oil Service Sector Index was climbing 1.6%, and the Dow Jones US Utilities Index shed 0.5%.In sector news, US forces disabled two Iranian-flagged unladen oil tankers on Friday attempting to dock at an Iranian port on the Gulf of Oman in violation of the US blockade, US Central Command said on X.Front-month West Texas Intermediate crude oil was rising 0.8% to $95.58 a barrel, and the global benchmark Brent crude contract was advancing 1.1% to $101.12 a barrel. Henry Hub natural gas futures shed 0.5% to $2.75 per 1 million BTU.In corporate news, Calumet (CLMT) shares fell 3.4% after it reported a Q1 loss Friday of $3.64 per diluted share, widening from a loss of $1.87 a year earlier. Analysts surveyed by FactSet expected a loss of $0.33.Devon Energy (DVN) stock rose 0.9% after it launched a new share repurchase authorization of $8 billion and raised its fixed dividend to $0.320 per share, payable June 30 to shareholders of record as of June 15.Shell (SHEL) CEO Wael Sawan said the global oil market faces a shortage of nearly 1 billion barrels of crude due to the ongoing Iran conflict, warning that the supply deficit is "deepening every single day." Speaking during Shell's Q1 earnings call on Thursday, Sawan said the market has lost significant volumes either through "locked-in barrels or unproduced barrels," adding that the recovery process would take time. Shell shares were down 0.3%.

$CLMT$DVN$SHEL

Sectors93d ago

Sector Update: Financial Stocks Decline Friday Afternoon

Financial stocks were lower Friday afternoon, with the NYSE Financial Index decreasing 0.2% and the State Street Financial Select Sector SPDR ETF (XLF) shedding 0.5%.The Philadelphia Housing Index rose 0.3%, and the State Street Real Estate Select Sector SPDR ETF (XLRE) added 0.5%.Bitcoin (BTC-USD) eased 0.1% at $79,953, and the yield for 10-year US Treasuries was down 2.6 basis points to about 4.37%.In economic news, the April employment report showed nonfarm payrolls rose by 115,000, above the 65,000 jobs rise expected in a Bloomberg survey, while March payrolls were revised up to a 185,000 increase and February payrolls were revised down to a 156,000 decrease.The University of Michigan's preliminary consumer sentiment index fell to 48.2 in May from 49.8 in April, lower than the expectations for a smaller decrease to 49.5 in a Bloomberg poll.In corporate news, Block (XYZ) shares jumped past 9% after the company late Thursday reported higher adjusted earnings and revenue that also beat analysts' estimates.Two Harbors Investment (TWO) shares rose 1.2% after the firm said it signed an amended merger agreement with CrossCountry Mortgage to increase the all-cash buyout offer to $12 per share from $11.30.Goldman Sachs-backed (GS) Go is seeking a valuation of about 200 billion Japanese yen ($1.28 billion) for its initial public offering in Tokyo, Bloomberg reported. Goldman was up 0.6%.

$GS$TWO$XYZ

Sectors93d ago

Sector Update: Healthcare Stocks Lower in Afternoon Trading

Healthcare stocks declined Friday afternoon, with the NYSE Healthcare Index falling 1% and the State Street Healthcare Select Sector SPDR ETF (XLV) shedding 0.9%.The iShares Biotechnology ETF (IBB) was 0.4% higher.In corporate news, Zoetis (ZTS) shares fell past 6% after Ameriprise downgraded the stock to hold from buy following its Q1 results Thursday. UBS cut the company's price target to $99 from $130, and Jefferies to $117 from $155.Traws Pharma (TRAW) shares surged 24%. The company said Friday it plans to develop potential therapies for the treatment and prevention of hantavirus infections using its portfolio of antiviral drug candidates targeting negative-strand RNA viruses.Novo Nordisk (NVO) saw a 40% month-on-month surge in April sales of its diabetes and weight-loss drugs in India after slashing prices, despite a flood of generic versions, Bloomberg reported, citing data from market researcher Pharmarack. Novo added 0.2%.

$NVO$TRAW$ZTS

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Sectors93d ago

Sector Update: Energy Stocks Lower in Late Afternoon Trading

$CLMT$DVN$FTW$SHEL