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Sector Update: Consumer Stocks Mixed Premarket Thursday

Consumer stocks were mixed premarket Thursday, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) 0.1% lower and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) up 0.4%.Campbell's (CPB) shares were down more than 6% after the company reported lower fiscal Q4 adjusted earnings and net sales, and cut its quarterly dividend.Victoria's Secret (VSXY) stock was down more than 6% even after the company posted higher fiscal Q2 adjusted earnings and net sales, and raised its fiscal 2026 net sales outlook.Tilly's (TLYS) shares were up more than 33% after the company reported fiscal Q2 earnings that almost tripled amid a jump in net sales.

$CPB$TLYS$VSXY$XLP$XLY

Sectors20d ago

Sector Update: Tech Stocks Lean Lower Premarket Thursday

Technology stocks were leaning lower premarket Thursday, with the State Street Technology Select Sector SPDR Fund (XLK) slightly declining and the State Street SPDR S&P Semiconductor ETF (XSD) down 0.3%.Snowflake (SNOW) shares were up more than 23% after the company reported higher fiscal Q2 adjusted net income and revenue, and raised its fiscal 2027 product revenue outlook.Broadcom (AVGO) stock was down more than 3% even after the company posted higher fiscal Q3 adjusted earnings and revenue.Nvidia (NVDA) has agreed to acquire Hugging Face for $12.93 billion, Chief Executive Jensen Huang said in a blogpost. Nvidia shares were 0.7% higher pre-bell.

$AVGO$NVDA$SNOW$XLK$XSD

Sectors20d ago

Sector Update: Energy

Energy stocks were rising pre-bell Thursday, with the State Street Energy Select Sector SPDR ETF (XLE) advancing by 0.3%.The United States Oil Fund (USO) was up 1% and the United States Natural Gas Fund (UNG) was 0.1% higher.Front-month US West Texas Intermediate crude oil was 1.2% higher at $92.11 per barrel at the New York Mercantile Exchange. Global benchmark North Sea Brent crude oil rose 0.8% to $96.35 per barrel, and natural gas futures were up 1.1% at $2.99 per 1 million British Thermal Units.Diversified Energy (DEC) has agreed to acquire Birch Permian and affiliates for a gross purchase price of about $1.8 billion, the company said. Diversified Energy shares were up more than 1% premarket.

$DEC

Sectors20d ago

Sector Update: Financial

Financial stocks were advancing premarket Thursday, with the State Street Financial Select Sector SPDR ETF (XLF) 0.5% higher.The Direxion Daily Financial Bull 3X Shares (FAS) was up 1.5% and its bearish counterpart Direxion Daily Financial Bear 3X Shares (FAZ) was 1% lower.Equity Bancshares (EQBK) has agreed to acquire Lincoln Bancorp in a deal valued at approximately $123.8 million, the companies said. Equity Bancshares stock was up 0.4% pre-bell.

$EQBK

Sectors20d ago

Sector Update: Healthcare

Healthcare stocks were edging higher pre-bell Thursday, with the State Street Health Care Select Sector SPDR ETF (XLV) up 0.2% and the iShares Biotechnology ETF (IBB) advancing by 0.5%.Hutchmed (HCM) shares were up more than 12% after the company said its unit licensed rights to GSK (GSK) to develop and commercialize experimental cancer treatment HMPL-A830 outside Greater China.

$GSK$HCM

Sectors20d ago

Sector Update: Consumer

$CPB

Sectors20d ago

Sector Update: Tech

Technology stocks were mixed premarket Thursday, with the State Street Technology Select Sector SPDR Fund (XLK) 0.1% higher and the State Street SPDR S&P Semiconductor ETF (XSD) down 0.4%.Snowflake (SNOW) shares were up more than 23% after the company reported higher fiscal Q2 adjusted net income and revenue, and raised its fiscal 2027 product revenue outlook.

$SNOW

Sectors20d ago

Oil Price Rebounds from Escalating Tensions, Strait of Hormuz Disruptions, ABN Amro Says

Escalating tensions in the Middle East and decreased flows through the Strait of Hormuz have prompted a rebound in oil prices, but lower demand and other factors have limited the price impact, ABN Amro Group Economics said in a Thursday note.Oil demand fell by 6.8 million barrels per day between the end of 2025 and June 2026, ABN Amro said. Alternative export routes, dark transits, ship-to-ship transfers and high US oil production have also capped the increase in oil prices.The market is expected to remain tight even if a near-term deal to reopen the strait is reached. Meanwhile, recovering Asian demand, higher refinery activity and the need to rebuild low inventories are seen to provide price support later in the year, ABN Amro said.

$CLX1$LCOX1$USO

Sectors20d ago

EnQuest Eyes Acquisition of BP's North Sea Assets, CEO Says

EnQuest (ENQ.L) is interested in buying oil giant BP's (BP.L) North Sea portfolio amid a "tremendous opportunity" in the British oil and gas sector, CNBC reported Thursday, citing Chief Executive Officer Amjad Bseisu.The energy company's CEO added that there are only a few companies interested in the assets, according to the report.In July, BP unveiled plans to potentially sell its North Sea businesses, which comprise five production hubs, as part of its ongoing portfolio review and capital allocation strategy.

$BP.L$ENQ.L

Sectors20d ago

Commerzbank Says Oil Prices Hover Around Recent Highs, Treasuries Edge Higher, US Equity Futures Flat

Brent crude hovered above $95 a barrel on the unlikely normalization of Strait of Hormuz energy flows, according to Commerzbank Research in a note.President Donald Trump said the renewed campaign against Iran wouldn't last too long and that oil prices would eventually come down. Trump also said the US "now controls" the Strait of Hormuz.Meanwhile, the US is quietly extending troop deployments, suggesting the Iran conflict could continue well into next year, according to the WSJ.Treasuries recovered into the New York close and edged higher in Asian trading on Thursday as Japanese government bonds rallied, said Commerzbank.Treasury Secretary Scott Bessent said the Treasury is buying back illiquid, long-dated USTs to free up bank balance sheets and increase dealer capacity to participate in Treasury auctions, according to the bank. He said the goal is to avoid "bad outcomes" and allow prices to return to equilibrium.Bessent said the administration is working to reduce the budget deficit, noting that roughly $70 billion in tariff refunds contributed to this year's increase. He added that "we'll get the tariffs back in again." Bessent also said the US is on the cusp of a significant productivity growth surge.The Beige Book reported that economic activity increased modestly across the US. Employment edged higher, while prices also rose modestly. The overall outlook remained positive, although sentiment varied across sectors, said Commerzbank.US equity futures were little changed, while Asian equities remained supported, added the bank. The yen strengthened amid speculation of potential intervention, while the euro edged higher toward $1.16.

$CXY$EUR$JPY

Sectors21d ago

Sector Update: Energy Stocks Rise Late Afternoon

Energy stocks rose late Wednesday afternoon, with the NYSE Energy Sector Index climbing up 0.5% and the State Street Energy Select Sector SPDR ETF (XLE) gaining 0.9%.The Philadelphia Oil Service Sector Index jumped 2.7%, and the Dow Jones US Utilities Index advanced 0.1%.West Texas Intermediate crude oil rose 0.7% to $90.81 a barrel, and global benchmark Brent gained 0.9% to $95.45 a barrel. Henry Hub natural gas futures added 2.8% to $2.99 per 1 million BTU.In geopolitical news, additional US strikes on Iran Tuesday led to Tehran attacking Jordan, Bahrain and Kuwait. "They will be hit again at a much harder and higher level, but it will not be the biggest attack of them all, that is waiting in the wings and, when it is over, there will be very little left of the Islamic Republic of Iran!" Trump posted on Truth Social Tuesday.The Iran Revolutionary Guards Corps said two oil tankers exploded after hitting a mine and are now on fire, Al Jazeera, a Middle Eastern broadcaster, reported Wednesday.In sector news, US crude oil stocks, including those in the Strategic Petroleum Reserve, fell by 7.6 million barrels in the week ended Aug. 28 following a decrease of 3.6 million barrels in the previous week. Excluding inventories in the SPR, commercial crude oil stocks declined by 4.5 million barrels after a 100,000-barrel gain in the previous week, compared to the 60,000-barrel increase expected in a survey compiled by Bloomberg.In corporate news, Chevron (CVX) outlined a plan to invest more than $7 billion in Venezuela and double its oil production capacity in the South American country over the next five years. Shares rose 0.6%.GE Vernova (GEV) has agreed to restore large sections of Venezuela's electrical network under a US government initiative to boost the nation's energy generation, Bloomberg reported. GE Vernova shares gained 3%.Venture Global (VG) told customers of its Plaquemines Phase 2 LNG export plant in Louisiana that deliveries remain on schedule at previously agreed prices, Reuters reported. Venture Global shares fell 2.2%.Calumet (CLMT) said Wednesday that the US Environmental Protection Agency granted full small refinery exemptions for two of its petitions covering the 2025 compliance year. The company said the exemptions will reduce its balance-sheet liability by 71 million renewable identification numbers, valued at about $170 million as of last June. Calumet shares rose 3%.

$CLMT$CVX$GEV$VG

Sectors21d ago

Sector Update: Financial Stocks Higher Late Afternoon

Financial stocks were advancing late Wednesday afternoon, with the NYSE Financial Index adding 1% and the State Street Financial Select Sector SPDR ETF (XLF) up 0.9%.The Philadelphia Housing Index increased 0.6%, and the State Street Real Estate Select Sector SPDR ETF (XLRE) was shedding 0.7%.Bitcoin (BTC-USD) was declining 0.2% to $77,230, and the yield on 10-year US Treasuries was steady at 4.796%.In economic news, ADP's monthly measure of private payrolls showed a 38,000 rise in August, below a 47,000 gain expected in a Bloomberg survey, following a 46,000 increase in July.New orders for US factory goods rose by 0.9% in July, above expectations for a 0.7% increase in a survey compiled by Bloomberg and following a 0.2% decrease in June.In corporate news, Capital One Financial (COF) was pressed by Democratic Senator Maggie Hassan for details about an internal anti-money laundering review that the bank said last month had led to the closure of accounts tied to President Donald Trump and his businesses, Reuters reported Wednesday, citing a letter sent by the senator to Capital One CEO Richard Fairbank Tuesday. Capital One shares were up 2.8%.KKR (KKR) has agreed to buy residential garage door repair and replacement company A1 Garage Door Service for about $2 billion, Reuters reported. KKR shares rose 0.9%.TPG (TPG) has filed a confidential application to list hospital assets worth nearly $8 billion in Malaysia, The Wall Street Journal reported. TPG shares added 0.4%.Citigroup's (C) Citibank NA London Branch has been fined about 4.7 million British pounds ($6.3 million) under the UK's Russia sanctions regime, Britain's Office of Financial Sanctions Implementation said. Citi shares were up 1.4%.

$C$COF$KKR$TPG

Sectors21d ago

Sector Update: Healthcare Stocks Advance Late Afternoon

Healthcare stocks were higher late Wednesday afternoon, with the NYSE Healthcare Index and the State Street Health Care Select Sector SPDR ETF (XLV) each adding 0.8%.The iShares Biotechnology ETF (IBB) climbed 1.4%.In corporate news, Novartis (NVS) has signed an option and licensing agreement with South Korean biotech Alteogen to develop and sell subcutaneous versions of multiple Novartis drugs using its ALT-B4 technology, Alteogen said Wednesday. Novartis shares rose 0.5%.Johnson & Johnson (JNJ) is positioned for accelerating growth, supported by a strong pharma pipeline, UBS said in a note. UBS assumed coverage of the stock with a buy rating and a $320 price target. Its shares rose 1.6%.Alumis (ALMS) shares jumped past 8%. The company's share price drop after the disappointing results of a phase 2b trial of envudeucitinib to treat systemic lupus erythematosus was likely an overreaction, Oppenheimer said in a note. Oppenheimer kept Alumis' outperform rating, while lowering the company's price target to $37 from $55.Telix Pharmaceuticals (TLX) said it completed patient enrollment for a phase 3 study of its commercial PSMA-PET imaging agents Illuccix and Gozellix in prostate cancer imaging in pre-biopsy setting. Telix shares climbed 5.6%.

$ALMS$JNJ$NVS$TLX

Sectors21d ago

Sector Update: Consumer Stocks Rise Late Afternoon

Consumer stocks were higher late Wednesday afternoon, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) increasing 0.4% and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) up 0.1%.In corporate news, Sirius XM (SIRI) shares gained 7.8% after Deutsche Bank upgraded the company's stock to buy from hold and raised its price target to $45 from $31.Amazon (AMZN) Teamsters launched a one-day unfair labor practice strike Wednesday at the company's largest US warehouse facility in Riverside, California, the union said in a release. Amazon shares were up 0.1%.Uber (UBER) is reducing its workforce by about 10% as part of restructuring efforts aimed at removing management layers and reducing "complexity" across the business. Uber shares rose 1.7%.G-III Apparel (GIII) shares fell 11% after it reported lower fiscal Q2 net sales and issued fiscal Q3 outlook below expectations.

$AMZN$GIII$SIRI$UBER

Sectors21d ago

Sector Update: Tech Stocks Mixed Late Afternoon

Tech stocks were mixed late Wednesday afternoon, with the State Street Technology Select Sector SPDR ETF (XLK) decreasing 0.1% and the State Street SPDR S&P Semiconductor ETF (XSD) adding 0.8%.The Philadelphia Semiconductor index rose 0.4%.In corporate news, Palo Alto Networks (PANW) shares fell 10% after the cybersecurity firm's fiscal Q4 adjusted gross margin declined year over year.A judge in federal district court in Virginia on Wednesday rejected the United States' proposed structural remedies that would require Alphabet's (GOOGL) Google to sell AdX, its advertising exchange, according to court documents. Alphabet shares were up 0.8%.Dell (DELL) shares jumped 15% after it reported higher fiscal Q2 non-GAAP adjusted earnings and revenue, and raised its fiscal 2027 guidance.Microsoft-backed (MSFT) OpenAI was hit with multiple lawsuits Wednesday alleging that the AI company could have done more to help prevent a school shooting earlier this year in Canada by informing law enforcement of the suspected killer's activity on ChatGPT, according to media reports. Microsoft shares were down 0.8%.

$DELL$GOOGL$MSFT$PANW

Sectors21d ago

Sector Update: Energy

Energy stocks rose late Wednesday afternoon with the NYSE Energy Sector Index climbing 0.5% and the State Street Energy Select Sector SPDR ETF (XLE) gaining 0.9%.The Philadelphia Oil Service Sector Index jumped 2.7%, and the Dow Jones US Utilities Index advanced 0.1%.West Texas Intermediate crude oil rose 0.7% to $90.81 a barrel, and global benchmark Brent gained 0.9% to $95.45 a barrel. Henry Hub natural gas futures added 2.8% to $2.99 per 1 million BTU.In corporate news, Venture Global (VG) told customers of its Plaquemines Phase 2 LNG export plant in Louisiana that deliveries remain on schedule at previously agreed prices, Reuters reported. Venture Global shares fell 2%.

$VG

Sectors21d ago