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Market Chatter: JD.com Faces EU Probe Into Ceconomy Bid

JD.com's (JD) 2.2 billion-euro ($2.56 billion) bid for German electronics retailer Ceconomy faces an in-depth foreign-subsidies investigation by the EU, the Financial Times reported, citing people familiar with the matter.The move, expected to be announced later this week, would give Brussels an additional 90 working days to examine whether the transaction involves unfair subsidies, the report said.The deal had been expected to close in H1, the report said.Beijing-based JD.com did not immediately respond to a request for comment from.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)Price: $29.89, Change: $-0.63, Percent Change: -2.07%

$JD

Wire36d ago

Update: Baker Hughes Shares Rise After Petrobras Deepwater Drilling Contract in Brazil Extended

(Updates with recent stock movement in headline and first paragraph.)Baker Hughes (BKR) shares rose as much as 2.8% in intraday trading on Tuesday after the company said it extended its contract with Petrobras (PBR) to provide integrated well construction services in Brazil's Santos Basin.The company said it will supply drilling and well construction technology, including its rotary steerable system, logging-while-drilling tools and extended-life drill bits, to support deepwater development of pre-salt oil and gas fields.Financial terms were not disclosed.Price: $66.85, Change: $+0.79, Percent Change: +1.20%

$BKR$PBR

Wire36d ago

Update: Ferrari Launches All-Electric Luce Sports Car

(Updates with Ferrari's stock price movement in the fourth paragraph.)Ferrari (RACE) has launched a new all-electric Luce sports car, expanding its lineup with a dedicated electric platform, the company said Monday.The four-door model includes four electric motors, a 122 kWh battery and an electric all-wheel drive, delivering 0-100 km/h acceleration in 2.5 seconds, Ferrari said.The electric vehicle's starting price is set at 550,000 euros ($640,000), according to multiple media reports.Ferrari shares were down 5% in Tuesday afternoon trading.Price: $330.57, Change: $-17.67, Percent Change: -5.07%

$RACE

Wire36d ago

Top Midday Decliners

Mizuho adjusted its price target for Intuit (INTU) to $500 from $600 while maintaining its outperform rating.Shares were down 5.2%, with intraday trading volume at more than 5.95 million versus the stock's daily average of about 3.88 million.AutoZone's (AZO) fiscal Q3 results were mixed, with earnings topping estimates and revenue falling short of forecasts, its results showed on Tuesday.Shares dropped 10%, with intraday trading volume at over 366,000 versus a daily average of about 206,000.Akanda's (AKAN) shares slumped 12% after the company said Friday it received a Nasdaq delisting notice.More than 296,000 shares of the company traded intraday compared with a daily average of about 2.41 million.Price: $303.72, Change: $-16.22, Percent Change: -5.07%

$AKAN$AZO$INTU

Wire36d ago

Argus Research Lifts TJX Price Target to $187 From $182, Maintains Buy Rating

TJX (TJX) has an average rating of overweight and mean price target of $180.17, 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://www..com/contact-us)Price: $158.91, Change: $+0.64, Percent Change: +0.40%

$TJX

Wire36d ago

Update: Market Chatter: Webster Financial Shareholders Accept $12 Billion Takeover Proposal From Banco Santander

(Updates with Banco Santander's response in the third paragraph.)Webster Financial (WBS) shareholders have accepted the $12 billion takeover proposal from Banco Santander (SAN), Bloomberg reported Tuesday, citing the company's extraordinary shareholder meeting.Webster Financial will publish detailed results from the shareholder meeting soon, according to the report.A Santander spokesperson toldthat the company welcomes Webster shareholders' approval and expects to close the transaction in H2.Webster Financial did not immediately respond to' request for comment.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)Price: $72.45, Change: $+0.65, Percent Change: +0.91%

$SAN$WBS

Wire36d ago

Market Chatter: Occidental Acquiring 10% Stake in Exxon's Deepwater Block Offshore Trinidad

Occidental Petroleum (OXY) is acquiring a 10% stake in Exxon Mobil's deepwater exploration block off the coast of Trinidad and Tobago, Reuters reported Tuesday, citing two people familiar with the matter.Exxon was the sole owner of the offshore block, which lies in water depths of 2,000 to 3,000 meters, the report said.Occidental and Exxon didn't immediately reply to requests for comment from.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)Price: $58.17, Change: $-0.64, Percent Change: -1.09%

$OXY$XOM

Wire36d ago

Occidental to Acquire 10% Stake in Exxon Deepwater Block Offshore Trinidad, Reuters Reports

$OXY$XOM

Wire36d ago

Sector Update: Energy Stocks Fall Tuesday Afternoon

Energy stocks declined Tuesday afternoon with the NYSE Energy Sector Index falling 1.6% and the State Street Energy Select Sector SPDR ETF (XLE) dropping 2%.The Philadelphia Oil Service Sector Index shed 0.6%, and the Dow Jones US Utilities Index rose 0.5%.West Texas Intermediate crude oil fell 2.7% to $93.97 a barrel, and global benchmark Brent rose 3.7% to $99.69 a barrel. Henry Hub natural gas futures advanced 0.7% to $2.93 per 1 million BTU.In corporate news, BP's (BP) board unanimously removed Albert Manifold as chair and director, effective immediately. BP shares fell 4.4%.Oklo (OKLO) shares jumped 7.1% after it said Tuesday it has been selected by the US Department of Energy, along with four other nuclear companies, for advanced talks under the surplus plutonium utilization program.Baker Hughes (BKR) shares rose 1.4% after it said it has extended its contract with Petrobras (PBR) to provide integrated well construction services in Brazil's Santos Basin. Petrobras shares were down 2.1%.

$BKR$BP$OKLO$PBR

Wire36d ago

Top Midday Gainers

Braiin (BRAI) said Tuesday it collaborated with Switchcraft to enable embedded utility and telecom switching experiences across its connected platforms for users to manage household services from within its UK Living Infrastructure and PropTech ecosystem.Shares doubled as intraday trading volume catapulted to over 7.16 million from a daily average of about 79,000.Co-Diagnostics (CODX) advanced an assay development strategy for the Bundibugyo virus currently causing an outbreak of ebola in the Democratic Republic of the Congo and Uganda, it said Tuesday. The move is expected to more rapidly address the needs of the international community if the current outbreak expands globally, or if localized governmental or non-governmental support is needed.Shares soared 101% amid a surge in intraday trading volume to over 43.4 million from a daily average of roughly 5.40 million.J-Star Holding (YMAT) subsidiary YMA received authorization from the Central Bank of Taiwan to proceed with the application process for a $60 million US dollar loan facility to support the development of a 100MWh solid-state battery manufacturing line in Baytown, Texas, it said Tuesday.Shares almost tripled as intraday trading volume soared to over 106.9 million from a daily average of about 6.94 million.Price: $14.23, Change: $+7.06, Percent Change: +98.40%

$BRAI$CODX$YMAT

Wire36d ago

JD.com's Takeover of Ceconomy Faces EU Probe, Financial Times Reports

$JD

Wire36d ago

NexGen Energy Advances Rook I Development Amid Execution, Funding Risks, UBS Says

NexGen Energy (NXE) is advancing its Rook I uranium project toward construction, with UBS Securities highlighting execution risks across shaft sinking, funding and marketing.The company is moving Rook I from technical studies into execution, with construction expected to begin in the summer following receipt of a License to Construct earlier this year, the analysts said in a note Monday, adding that the most critical phase is the first 150 to 200 metres of shaft sinking.To manage this, ground freezing is planned to extend to about 175 metres for the production shaft and about 220 metres for the exhaust shaft. Expected sinking rates of about 1.5 to 2.5 metres per day are "realistic," but material volatility could occur. This overburden phase is expected to be the main driver of both cost and schedule risk, the analysts said.Once the shafts reach competent basement rock at around 160 metres depth, geotechnical risks and cost variability decline materially, with conventional sinking conditions prevailing. If successful, the most technically challenging phase would be largely de-risked by mid-to-late 2027, the analysts added.UBS said marketing risk remains key given the scale of Rook I, while funding requirements and structure remain dependent on uranium prices and contracting conditions.UBS has a buy rating and a price target of CA$20 ($14.5) on NexGen Energy.Price: $10.99, Change: $+0.32, Percent Change: +3.05%

$NXE

Wire36d ago

Merck Keeps Quarterly Dividend at $0.85 a Share, Payable July 8 to Holders of Record June 15

$MRK

Wire36d ago

Market Chatter: Exxon, ConocoPhillips Push for Safeguards Before Returning to Venezuela

Exxon Mobil (XOM) and ConocoPhillips (COP) are seeking durable contract terms and a resolution to the billions of dollars they are owed as part of active negotiations with the Venezuelan government about returning to the country after exiting two decades ago, Bloomberg reported Tuesday, citing people familiar with the matter.The oil companies said Venezuela has more work to do, but they are encouraged by President Delcy Rodriguez's willingness to negotiate, the report said, citing the people.Exxon and ConocoPhillips didn't immediately reply to requests for comment from.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)Price: $150.65, Change: $-4.27, Percent Change: -2.76%

$COP$XOM

Wire36d ago

Truist Securities Raises Price Target on Brixmor Property Group to $33 From $32, Keeps Buy Rating

$BRX

Wire36d ago

Exxon, ConocoPhillips Push for Safeguards Before Returning to Venezuela, Bloomberg Reports

$COP$XOM

Wire36d ago

Market Chatter: Google, Apple Criticize Canada Bill C-22 Over Data Access, Encryption Concerns

Alphabet's (GOOG, GOOGL) Google criticized Canada's Bill C-22 for enabling secret orders mandating providers to facilitate data interception and retrieval, while Apple (AAPL) echoed concerns, saying the law could allow the government to force companies to break encryption, something Apple said it would not do, Bloomberg reported Tuesday.Bill C-22 has passed two of three readings in Canada's House of Commons before moving to the Senate for final review. It is currently undergoing stakeholder feedback and scrutiny by a parliamentary committee, the report added.Alphabet and Apple did not immediately respond to a request for comment from.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)Price: $382.56, Change: $+3.18, Percent Change: +0.84%

$AAPL$GOOG$GOOGL

Wire36d ago

Market Chatter: Webster Financial Shareholders Accept $12 Billion Takeover Proposal From Banco Santander

Webster Financial (WBS) shareholders have accepted the $12 billion takeover proposal from Banco Santander (SAN), Bloomberg reported Tuesday, citing the company's extraordinary shareholder meeting.Webster Financial will publish detailed results from the shareholder meeting soon, according to the report.Webster Financial, Banco Santander did not immediately respond to' request for comment.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)Price: $72.48, Change: $+0.67, Percent Change: +0.94%

$SAN$WBS

Wire36d ago

Market Chatter: Redwire, Other Space-Related Stocks Lifted by Optimism on SpaceX's Upcoming IPO

Redwire (RDW) and other space and satellite-related stocks surged in afternoon trading on Tuesday as investors' positive outlook on the sector was intensified after Elon Musk's SpaceX filed for an initial public offering last week, Bloomberg reported Tuesday.Redwire shares jumped 27%, AST SpaceMobile (ASTS) stock was up 19%, Firefly Aerospace (FLY) shares rose 18%, and MDA Space (MDA) stock was up 5.9%.Analysts and investors expect the global space economy to continue to grow, with firms well-positioned in the space industry set to benefit, according to the report.SpaceX's IPO could potentially occur as early as next month, and it is targeting to raise as much as $75 billion, the report said.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)Price: $22.36, Change: $+4.87, Percent Change: +27.82%

$ASTS$FLY$MDA$RDW

Wire36d ago

BJ's Wholesale Seen Regaining Growth Pace by 2027, UBS Says

BJ's Wholesale Club Holdings (BJ) is positioned to return to its long-term growth trajectory by 2027, supported by healthy membership trends and stronger customer engagement, UBS Securities said Sunday in a report.Early results from BJ's expansion into Texas have been stronger than expected, with membership signups running 33% ahead of plan and 100,000 members already enrolled in the state, UBS said. That performance may bolster confidence in BJ's ability to grow in competitive new markets, the report said.UBS also pointed to improving general-merchandise sales, noting that category growth accelerated to 7.1% in fiscal Q1, and highlighted additional opportunities tied to tariff-related supplier recoveries, which it expects BJ's to reinvest in pricing to strengthen customer value.UBS lowered its price target on BJ's stock to $109 from $117 and maintained its buy rating.Price: $84.42, Change: $-2.22, Percent Change: -2.56%

$BJ

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