Financial News · Live Terminal

Page 69 of 104

Sector Update: Energy Stocks Rise Tuesday Afternoon

Energy stocks were higher Tuesday afternoon, with the NYSE Energy Sector Index rising 0.5% and the State Street Energy Select Sector SPDR ETF (XLE) up 0.3%.The Philadelphia Oil Service Sector Index was decreasing 0.4%, and the Dow Jones US Utilities Index was adding 0.8%.Crude oil futures slumped after Defense Secretary Pete Hegseth said the ceasefire agreement with Iran remains in force. Hegseth, speaking at a Tuesday morning press conference, said the Iran ceasefire remains in effect while promising to continue to press ahead with opening the Strait of Hormuz, the chokepoint for about a fifth of global crude oil flows.Front-month West Texas Intermediate crude oil was declining 4.3% to $101.80 a barrel, and the global benchmark Brent crude contract was dropping 3.9% to $110.03 a barrel. Henry Hub natural gas futures fell 2.5% to $2.80 per 1 million BTU.In corporate news, Marathon Petroleum (MPC) shares gained 1.8% after its Q1 adjusted earnings and revenue rose year on year and beat analysts' estimates.GE Vernova (GEV) and Blue Energy are planning to develop a 2.5 gigawatt power facility in Texas that will combine nuclear and natural gas, the companies said Tuesday. GE Vernova shares added 2.6%.Enlight Renewable Energy (ENLT) shares climbed 3.5% after it reported higher-than-expected Q1 earnings and revenue.

$ENLT$GEV$MPC

Sectors50d ago

Sector Update: Financial Stocks Mixed Tuesday Afternoon

Financial stocks were mixed in Tuesday afternoon trading with the NYSE Financial Index rising 0.3% and the State Street Financial Select Sector SPDR ETF (XLF) falling 0.2%.The Philadelphia Housing Index gained 1.9%, and the State Street Real Estate Select Sector SPDR ETF (XLRE) increased 0.1%.Bitcoin (BTC-USD) rose 1.7% to $81,234, and the yield for 10-year US Treasuries shed 3.2 basis points to 4.41%.In sector news, the US Securities and Exchange Commission on Tuesday said it proposed rule and form amendments that would permit public companies to file semiannual reports in lieu of quarterly reports to meet their reporting obligations.Amazon-backed (AMZN) Anthropic said it introduced 10 new artificial intelligence agents to support banks, asset managers, and insurers in executing the most time-consuming processes in financial services. These AI agents can draft pitch decks for client meetings, review financial statements, evaluate KYC files, and help with accounting, the company said.In corporate news, PayPal (PYPL) plans to target at least $1.5 billion in cost cuts over the next few years, while the company maintained its full-year earnings outlook. The shares slumped 9.5%.Coinbase (COIN) is reducing its global workforce by 14%, citing the need to cut costs amid market volatility and how AI has optimized its operations. Its shares fell 3.7%.Bullish (BLSH) shares jumped past 11%. The company on Tuesday agreed to acquire transfer agent Equiniti from private equity firm Siris in an all-stock deal worth about $4.2 billion.

$BLSH$COIN$PYPL

Sectors50d ago

Update: Gold Rises As Treasury Yields Ease

(Updates prices.)Gold traded higher midafternoon on Tuesday, rising off a five-week low as treasury yields weakened.Gold for June delivery was last seen up US$35.60 to US$4,568.90 per ounce.The price of the metal has remained mostly rangebound for a month as the war on Iran has prompted some safe-haven demand for the metal, even as the higher oil prices that followed the start of the war on Iran is hiking inflation. The threat of higher interest rates because of rising prices is pushing up bond yields, bearish for the metal since it pays no interest."The benchmark US 10-year yield rose some seven basis points on the day Monday, closing just below 4.44% and therefore at the highest daily close since last July as traders eye the big round 4.50% level.," Saxo Bank wrote.However yields moderated early on Tuesday, with the U.S. two-year note last seen paying 3.944%, down 1.8 basis points, while the yield on the 10-year note was down 2.2 points to 4.42%. The dollar was higher, with the ICE dollar index last seen up 0.04 points to 98.42.

$GCM6$GLD

Sectors50d ago

Sector Update: Consumer Stocks Higher in Afternoon Trading

Consumer stocks were rising Tuesday afternoon, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) each adding about 0.5%.In sector news, Redbook US same-store sales rose by 7.8% from a year earlier in the week ended May 2 after a 7.7% year-over-year increase in the previous week. "Warmer weather and Mother's Day promotions are boosting sales of seasonal clothing and accessories as the day approaches," Redbook said.President Donald Trump expressed his displeasure with Food and Drug Administration Commissioner Marty Makary for taking too long to approve flavored vapes and nicotine products, The Wall Street Journal reported.In corporate news, Harley-Davidson (HOG) shares jumped past 6% after it reported Q1 results. The company reported Q1 earnings of $0.22 per diluted share, down from $1.07 a year earlier. Analysts polled by FactSet expected $0.22. Revenue for the quarter was $1.17 billion, down from $1.33 billion a year earlier, but ahead of the FactSet analyst consensus of $1.01 billion.Ambev (ABEV) shares surged 15% after it reported higher-than-expected Q1 normalized earnings and net revenue.Anheuser-Busch InBev (BUD) shares climbed past 9% after the company reported higher fiscal Q1 underlying earnings and revenue.Wynn Resorts (WYNN) is weighing postponing the opening of the $5.1 billion Wynn Al Marjan Island casino resort in the United Arab Emirates amid construction delays due to the Middle East conflict, Bloomberg reported. Wynn shares were up 2%.

$ABEV$BUD$HOG$WYNN

Sectors50d ago

Sector Update: Health Care Stocks Advance Tuesday Afternoon

Health care stocks rose Tuesday afternoon, with the NYSE Health Care Index and the State Street Health Care Select Sector SPDR ETF (XLV) increasing 0.3% each.The iShares Biotechnology ETF (IBB) was shedding 0.4%.In corporate news, Pfizer's (PFE) Q1 results surpassed analysts' estimates as robust demand across its key brands offset weakening sales of its COVID-19 products. Its shares declined 0.7%.Merck (MRK) shares added 0.4% after the company said Tuesday it has completed the acquisition of Terns Pharmaceuticals after a cash tender offer at $53 per share. Terns' stock will no longer be listed on Nasdaq, it said.BioNTech (BNTX) shares dropped 3.5% after the company reported a wider adjusted loss and lower revenue in Q1.

$BNTX$MRK$PFE

Sectors50d ago

Sector Update: Tech Stocks Rise Tuesday Afternoon

Tech stocks were higher Tuesday afternoon, with the State Street Technology Select Sector SPDR ETF (XLK) rising 2.4% and the State Street SPDR S&P Semiconductor ETF (XSD) climbing past 4%.The Philadelphia Semiconductor index climbed 4.7%.In corporate news, Pinterest (PINS) shares jumped nearly 10% after it posted better-than-expected Q1 results late Monday and forecast up to 16% revenue growth year over year for the ongoing three-month period.Blackstone (BX) and KKR (KKR) are in talks with Alphabet (GOOGL) to allow their portfolio companies access to Google's AI models, Bloomberg reported. Alphabet shares added 0.5%.Amazon-backed (AMZN) Anthropic introduced new AI agents built for a broader mix of financial services tasks, Bloomberg reported. Amazon shares rose 0.5%.Shopify (SHOP) shares slumped past 16% after the company on Tuesday issued a Q2 revenue outlook that implied a sequential slowdown in annual growth.

$AMZN$GOOGL$PINS$SHOP

Sectors50d ago

Sector Update: Energy

$MPC

Sectors50d ago

Sector Update: Consumer

Consumer stocks were rising Tuesday afternoon, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) each adding about 0.5%.In corporate news, Harley-Davidson (HOG) shares jumped nearly 6% Tuesday after it reported Q1 results. The company reported Q1 earnings of $0.22 per diluted share, down from $1.07 a year earlier. Analysts polled by FactSet expected $0.22. Revenue for the quarter was $1.17 billion, down from $1.33 billion a year earlier, but ahead of the FactSet analyst consensus of $1.01 billion.

$HOG

Sectors50d ago

Sector Update: Financial

$PYPL

Sectors50d ago

Sector Update: Health Care

Health care stocks rose Tuesday afternoon, with the NYSE Health Care Index and the State Street Health Care Select Sector SPDR ETF (XLV) increasing 0.2%.The iShares Biotechnology ETF (IBB) was shedding 0.7%.In corporate news, Pfizer's (PFE) Q1 results surpassed analysts' estimates as robust demand across its key brands offset weakening sales of its COVID-19 products. Its shares declined 0.7% Tuesday afternoon.

$PFE

Sectors50d ago

Sector Update: Tech

Tech stocks were higher Tuesday afternoon, with the State Street Technology Select Sector SPDR ETF (XLK) rising 2.2% and the State Street SPDR S&P Semiconductor ETF (XSD) climbing 4%.The Philadelphia Semiconductor index popped 4.5%.In corporate news, Pinterest (PINS) shares jumped past 8% after it posted better-than-expected Q1 results and forecast up to 16% revenue growth year over year for the ongoing three-month period.

$PINS

Sectors50d ago

Markets Reacting More to Oil Prices Than The Surprise Canada Trade Surplus, Says CIBC

A surge in oil exports, led by higher prices, and added glitter in the gold trade, saw Canada's trade balance flip unexpectedly to a surplus in March, said CIBC after Tuesday's data.However, the improvement in export volumes was much more muted, and for the quarter as a whole, net trade still appears to be a slight drag on Q1 gross domestic product, noted the bank.The $1.8 billion goods trade surplus in March was reported compared with a $5.1 billion deficit in the prior month and consensus expectations for a $2.5 billion shortfall, pointed out CIBC.Markets continued to react more to movements in oil prices rather than the economic data, despite the large headline beat, stated the bank.While a trade surplus in March was unexpected, it was mainly driven by price fluctuations rather than any signs that real economic activity was stronger than anticipated, added CIBC.Combined with signs last week that higher gasoline prices may already be having a negative impact on consumer spending, the bank continues to expect only modest GDP growth this year and little evidence that slack within the economy is being absorbed.That should see the Bank of Canada look through a near-term spike in headline inflation, keeping interest rates on hold this year, according to CIBC.

$CXY

Sectors50d ago

Natural Gas Drops Off a Month High Even as Long-Term Forecasts Warm

Natural gas dropped off a month high early Tuesday even as long-term forecasts see hotter weather on the way, adding cooling demand for the fuel.Gas for June delivery was last seen down $0.04 to US$2.83 per million British thermal units, after rising to the highest since April 7 a day earlier.The drop comes even as long-term forecasts from the National Weather Service expects the Southeast and states west of the Mississippi River with warmer than seasonal temperatures over its eight to 14 day outlook. However the big markets of the Northeast will be cooler than seasonal over the period.Supply remains robust. Last week's weekly inventory report from the Energy Information Administration showed stocks stood at 2.14-trillion cubic feet, 7.7% above the five-year average.

$NGM6$UNG

Sectors50d ago

Sector Update: Energy Stocks Lean Lower Pre-Bell Tuesday

Energy stocks were lower premarket Tuesday, with the State Street Energy Select Sector SPDR ETF (XLE) retreating 0.2%.The United States Oil Fund (USO) fell by 1.8%, while The United States Natural Gas Fund (UNG) was 0.5% lower.Front-month US West Texas Intermediate crude oil was down 2.4% at $103.85 per barrel at the New York Mercantile Exchange. Global benchmark North Sea Brent crude oil declined 1.6% to $112.63 per barrel, and natural gas futures were 1.3% lower at $2.83 per 1 million British Thermal Units.Enlight Renewable Energy (ENLT) stock was up over 4% before the opening bell after the company reported higher-than-expected Q1 earnings and revenue.Kosmos Energy (KOS) stock was down more than 6% before the opening bell after the company reported a Q1 adjusted loss versus analysts' expectations of earnings.Peabody Energy (BTU) shares were 5% lower in premarket activity after the company swung to a Q1 loss.

$BTU$ENLT$KOS$UNG$USO$XLE

Sectors50d ago

Sector Update: Financial Stocks Gain Pre-Bell Tuesday

Financial stocks were mostly higher pre-bell Tuesday, with the State Street Financial Select Sector SPDR ETF (XLF) gaining by 0.5%.The Direxion Daily Financial Bull 3X Shares (FAS) rose by 1%, and its bearish counterpart Direxion Daily Financial Bear 3X Shares (FAZ) was 1.2% lower.PayPal (PYPL) shares were down more than 10% before the opening bell after the company said it expects to post a roughly 9% decline in Q2 non-GAAP EPS.HSBC (HSBC) stock was down more than 4% after the company reported lower-than-expected Q1 earnings.Banco Santander (SAN) shares were up more than 1% pre-bell after falling 3.1% at the prior close. The bank and Uber Technologies (UBER) said they have agreed to launch a scalable financing platform of up to 1 billion euros ($1.17 billion) to support fleet operators across Europe.

$FAS$FAZ$HSBC$PYPL$SAN$XLF

Sectors50d ago

Sector Update: Health Care Stocks Higher Pre-Bell Tuesday

Health care stocks were higher premarket Tuesday, with the State Street Health Care Select Sector SPDR ETF (XLV) gaining by 0.1% and the iShares Biotechnology ETF (IBB) advancing 0.2%.IDEXX Laboratories (IDXX) shares rose more than 3% pre-bell after the company reported higher Q1 comparable earnings and revenue.Waters (WAT) shares were over 10% higher pre-bell after the company reported higher fiscal Q1 adjusted earnings and revenue.Fresenius Medical Care (FMS) stock was down more than 5% premarket after the company reported lower Q1 earnings and revenue.

$FMS$IBB$IDXX$WAT$XLV

Sectors50d ago

Sector Update: Consumer Stocks Higher Pre-Bell Tuesday

Consumer stocks were higher premarket Tuesday, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) advancing 0.1% and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) gaining 0.5%.Anheuser-Busch InBev (BUD) was up over 6% premarket after the company reported higher fiscal Q1 underlying earnings and revenue.Ambev (ABEV) stock was up more than 8% after the company reported higher-than-expected Q1 normalized earnings and net revenue.Douglas Dynamics (PLOW) shares were 10% higher before the opening bell after the company reported higher Q1 adjusted earnings and net sales.

$ABEV$BUD$PLOW$XLP$XLY

Sectors50d ago

Gold Rises Early As Treasury Yields Ease

Gold prices rose off a five-week low early Tuesday as treasury yields eased off a 10-month high.Gold for June delivery was last seen up $44.70 to US$4,578.00 per ounce.The price of the metal has remained mostly rangebound for a month as the war on Iran has prompted some safe-haven demand for the metal, even as the higher oil prices that followed the start of the war on Iran is hiking inflation. The threat of higher interest rates because of rising prices is pushing up bond yields, bearish for the metal since it pays no interest."The benchmark US 10-year yield rose some seven basis points on the day Monday, closing just below 4.44% and therefore at the highest daily close since last July as traders eye the big round 4.50% level.," Saxo Bank wrote.However yields moderated early on Tuesday, with the U.S. two-year note last seen paying 3.94%, down 2.2 basis points, while the yield on the 10-year note was down 1.8 points to 4.423%. The dollar was higher, with the ICE dollar index last seen up 0.12 points to 98.49.

$GCM6$GLD

Sectors50d ago

Sector Update: Tech Stocks Advance Pre-Bell Tuesday

Technology stocks were higher pre-bell Tuesday, with the State Street Technology Select Sector SPDR ETF (XLK) gaining 0.8% and the State Street SPDR S&P Semiconductor ETF (XSD) 1.2% higher.Fidelity National Information Services (FIS) stock was up 5% after the company said it is working with Anthropic to create artificial intelligence tools for the banking industry, beginning with a financial crime agent.ServiceNow (NOW) shares were up more than 2% before the bell. A company presentation on Monday showed that ServiceNow is targeting up to $32 billion in subscription revenue by 2030 under an "upside" scenario.Leidos Holdings (LDOS) shares rose 2% in premarket activity after the company reported higher Q1 non-GAAP earnings and revenue.

$FIS$LDOS$NOW$XLK$XSD

Sectors50d ago

Oil Prices Ease as the Iran War Ceasefire Holds After Monday's Attacks

Oil traded lower early on Tuesday with the ceasefire between the United States and Iran seen holding, calming Monday's gains as violence in the Persian Gulf eased.West Texas Intermediate crude oil for June delivery was last seen down US$3.48 to US$102.94 per barrel, after rising 4.4% on Monday, while July Brent oil was down US$1.85 to US$112.59.Hostilities in the Iran war picked up on Monday as Iran attacked the United Arab Emirates' Fujairah oil port on the Gulf of Oman, which had been continuing to export oil since the Feb. 28 start to the war, even as Persian Gulf supply remains trapped behind the Strait of Hormuz. It also fired on U.S. warships, claiming to have struck one naval vessel with two missiles, which was denied by the U.S. military.The United States responded by attacks on Iranian fast boats while President Trump said the United States will begin guiding ships through the Strait. Reuters reported the Alliance Fairfax, a U.S.-flagged vehicle carrier, transited the Strait on Monday accompanied by the U.S. military.Still, despite the strikes, reports said U.S. Defense Secretary Pete Hegseth, speaking at a Tuesday morning press conference, said the ceasefire remains in effect while promising to continue to press to open the Strait of Hormuz.Still, the war has produced the largest-ever oil supply shock as the closure of the Strait blocked exports from the Persian Gulf, which supplied 20% of daily oil demand, keeping oil prices near four-year highs, with any relief unlikely until a peace deal is reached despite U.S. efforts to reopen the waterway."Despite US plans to restore shipping, security risks may keep the route closed until a US-Iran deal, sustaining concern over energy prices," Saxo Bank wrote.

$CLM6$LCON6$USO

Showing 1361-1380 of 2074