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Howmet Raises 2026 Outlook on Strong Industrial Gas Turbine Demand, RBC Says

Howmet Aerospace (HWM) reported "strong" Q1 results and raised its 2026 guidance, driven by robust aerospace spare-part demand, expanding margins and continued strength in the industrial gas turbine market, RBC Capital Markets said in a report emailed Friday.The aerospace and industrial components company posted adjusted earnings of $1.22 per share, above consensus estimates and RBC's forecast of $1.11, while revenue rose 19% year over year to $2.3 billion, according to the report. Spare-parts sales climbed 36%, including 48% growth in commercial aerospace, according to the report.Industrial gas turbine demand remains a major growth opportunity for the company, with segment revenue rising 39% year over year as pricing and yields improved, according to the report. "Additional capacity" is expected to come online in H2 as Howmet increases investment to support growing demand tied partly to rising electricity needs from data centers, RBC said.Howmet continued reshaping its portfolio through acquisitions and divestitures, with the firm saying the company's focus on higher-margin businesses is "viewed positively by investors," the report said.RBC maintained the company's outperform rating and $300 price target.Price: $271.21, Change: $-1.21, Percent Change: -0.44%

$HWM

Wire56d ago

Janus Living Scaling Up Organic Growth and Investment Activity, RBC Says

Janus Living (JAN) is experiencing better-than-expected organic growth alongside "aggressive" investment activity and a strong pipeline, RBC said in a note emailed Friday, adding that it has raised its estimates for the senior housing real estate investment trust.RBC increased its funds from operations estimates to $0.97 per share for 2026, $1.17 for 2027, and $1.39 for 2028, while keeping its organic growth projections broadly unchanged.The investment firm said the higher estimates are primarily driven by the company's investment pace, underpinned by $400 million of deals currently under contract.Analysts at the brokerage now expect Janus to score about $750 million of annual investments, compared with their previous assumptions of $400 million in 2026 and $600 million in 2027 and 2028.RBC maintained its outperform rating and raised its price target to $30 from $27.Price: $27.96, Change: $+0.54, Percent Change: +1.97%

$JAN

Wire56d ago

Market Chatter: Trump Plans to Fire FDA Commissioner Makary

President Donald Trump has approved a plan to fire Food and Drug Administration Commissioner Marty Makary, the Wall Street Journal reported Friday, citing people familiar with the matter.Trump has expressed his displeasure in recent days with Makary for taking too long to approve flavored vapes and nicotine pouches, the Journal reported earlier this week, citing people familiar with the matter.Trump's decision is not final and could change, the report said.The White House didn't immediately reply 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: $69.16, Change: $+0.11, Percent Change: +0.17%

$BTI$MO$PM$RLX$TPB

Wire56d ago

Uber Partner Avride Under NHTSA Investigation, TechCrunch Reports

$UBER

Wire56d ago

Trump Plans to Fire FDA Commissioner Makary, WSJ Reports

$BTI$MO$PM$RLX$TPB

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Market Chatter: Apollo, Blackstone in Talks on $35 Billion Financing for Broadcom

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, citing people familiar with the matter.The financing would help Broadcom fund development of chips for AI workloads, the report said.The companies 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: $130.52, Change: $+2.73, Percent Change: +2.14%

$APO$AVGO$BX

Wire56d ago

Gilead Sciences Faces Long-Term Questions on Yeztugo Growth, RBC Capital Markets Says

Gilead Sciences (GILD) is seeing strong pre-exposure prophylaxis growth, although questions remain on long-term Yeztugo growth, with expectations for the drug potentially having "gotten ahead of themselves," RBC Capital Markets said in a note Thursday.The brokerage said regional use patterns in existing PrEP markets underscore the challenges Gilead may face in substantially expanding overall PrEP use over the long term, while persistence for Yeztugo "seems not to be as good as initially hoped."The HIV business remains solid, driven by strong US Descovy sales in Q1, and the company's $400 million increase to full-year sales guidance reflects confidence in the continued growth of the business, according to the note.RBC maintained a sector perform rating on the stock and lowered its price target to $122 from $123.Shares of Gilead Sciences were down 2.5% in Friday trading.Price: $130.71, Change: $-3.35, Percent Change: -2.50%

$GILD

Wire56d ago

Datadog Sees Broad-Based Strength Across AI-Native, Non-AI-Native Customers, RBC Says

Datadog (DDOG) sees continued broad-based strength across both artificial intelligence-native and non-AI-native customers, with demand not concentrated among ramping large customers, RBC Capital Markets said.RBC noted the quarter marked the fourth straight quarter of accelerating growth and one of Datadog's strongest results in recent memory. Revenue growth exceeding 30% for the first time since first quarter of 2023 reinforced what it views as sustained underlying momentum as AI adoption continues to inflect and tech stack modernization accelerates.A highlight of the quarter was an eight- and seven-figure annualized deal with AI research divisions of two major tech companies for AI training as Datadog's platform continues to resonate with AI-native customers, RBC said in a research note Thursday, adding that despite the updated full-year guidance range, it still sees room for upside.RBC raised its price target on Datadog to $219 from $161 and maintained its outperform rating.Shares of Datadog were up nearly 2% in Friday trading.Price: $192.10, Change: $+3.37, Percent Change: +1.79%

$DDOG

Wire56d ago

Edgewise Therapeutics' Update for EDG-7500 Could Boost Shares, RBC Says

Edgewise Therapeutics' (EWTX) update for EDG-7500 to target the genetic heart condition hypertrophic cardiomyopathy, or (HCM) is expected to deliver clear efficacy and a tolerability profile that could differentiate it from aficamten, potentially driving shares up another 10% to 20%, RBC Capital Markets said Thursday in a note.Following Cytokinetics' (CYTK) ACACIA readout for its aficamten drug candidate, where it saw a positive but modest effect in nHCM, paired with clear drug-driven left ventricular ejection fraction, RBC said Edgewise is in a strong position to differentiate in the indication with '7500.The readout of EDG-7500's 12-week data in Q2 could drive significant upside, particularly if strong efficacy is measured with no negative impact on left ventricular ejection fraction, along with single digit atrial fibrillation, according to the note.A clear data win could drive as much as 5% to 10% upside on the day, and RBC sees more than $3 billion in peak sales for '7500, according to the note.Sevasemten is also on track for topline data readout in Q4, according to analysts, who add that Edgewise has a 60% probability of showing clear efficacy in Becker Muscular Dystrophy, which could be a $1.3 billion peak revenue opportunity and drive 25% to 50% upside - even after a win on '7500, the brokerage said.RBC kept an outperform rating on Edgewise Therapeutics with a price target of $50.Price: $35.21, Change: $-0.37, Percent Change: -1.04%

$EWTX

Wire56d ago

Insmed Stock Sell-off is Overdone as Underlying Metrics Appear Positive, RBC Says

Insmed (INSM) stock sell-off post Q1 results is overdone as underlying metrics appear positive and potential organic patient additions throughout the year should enable Brinsupri for non-cystic fibrosis bronchiectasis to clear the $1 billion floor with cushion, RBC Capital Markets said in a research note emailed Friday.The stock reaction could be due to investor concerns about a slump in patient additions and compliance, but the brokerage said it maintained its full-year 2026 Brinsupri sales guidance of around $1.3 billion.RBC concurs with Insmed's view that opportunity to ramp patient count through "doc experience" with Brinsupri could be considerable, while the pulmonary community presents an opportunity for future tailwinds as the company focuses on marketing and diagnostics, according to the note.There will be a balance between compliance creeping down, tightening of approval rates, future competitors, and the pool of latent patients that can be activated, which could drive $8 billion in US peak sales, analysts wrote.The brokerage said it reiterated its outperform rating on the stock and cut its price target to $205 per share from $220.Price: $99.51, Change: $-5.29, Percent Change: -5.05%

$INSM

Wire56d ago

Cloudflare's Surprise 20% Workforce Cut Marks AI-First Pivot, RBC Says

Cloudflare's (NET) surprise workforce reduction signals a "position of strength to truly change the operating model to be AI-first," with the company cutting deeply into its middle layers while preserving core sales roles, RBC Capital Markets said Thursday in a report.The 1,100-employee reduction, or 20% of staff, is broad-based across geographies and functions, though quota-carrying and customer-facing roles were largely spared, giving RBC confidence in Cloudflare's growth outlook, according to the report.Cloudflare is rebuilding its operating model around AI and is adding quota-carrying roles, RBC said. Internal AI usage surged sevenfold, driving major productivity gains and enabling the company to run with fewer support and middle-management positions, the report said.RBC maintained its outperform rating on Cloudflare stock and its $240 price target, citing the company's "durable growth with AI efficiencies" and its strategic relevance in the emerging agentic-AI era.Price: $195.41, Change: $-61.38, Percent Change: -23.90%

$NET

Wire56d ago

Apollo, Blackstone Mull $35 Billion Financing for Broadcom, Bloomberg Reports

$APO$AVGO$BX

Wire56d ago

Becton, Dickinson Building Growth After 'Clean' Fiscal Q2 Beat, RBC Says

Becton, Dickinson and Company (BDX) is showing signs of growth recovery as the company delivered a clean fiscal Q2 beat and raised its fiscal 2026 EPS outlook, RBC Capital Markets said in a note emailed Friday.The firm said the Q2 beat is a positive indicator of improving business performance, with growth across multiple platforms. Meanwhile, the company's growth recovery back into mid-single-digit profile is yet to be proven out, it added.RBC said known headwinds such as Alaris, China and vaccines are playing out as anticipated and should ease over time.The company remains focused on share repurchases, returning about $2.3 billion to shareholders during the quarter, analysts noted.The firm also highlighted momentum in biologic, GLP-1 delivery systems and Pyxis Pro, which it said is generating strong early competitive traction.RBC maintained its sector perform rating on Becton, Dickinson and a $175 price target.Price: $148.13, Change: $-5.13, Percent Change: -3.35%

$BDX

Wire56d ago

Market Chatter: Apple, Intel Reach Preliminary Chip-Making Deal

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, citing people familiar with the matter.Apple and Intel didn't immediately reply 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: $292.05, Change: $+4.63, Percent Change: +1.61%

$AAPL$INTC

Wire56d ago

Apple, Intel Reach Preliminary Chip-Making Deal, The Wall Street Journal Reports

$AAPL$INTC

Wire56d ago

EMEA Natural Gas Update: Futures Rise Modestly, Weigh Middle East Peace Plan

European natural gas futures ended the session higher on Friday but slipped in later trade, as markets swung between geopolitical risk tied to US-Iran tensions and growing optimism that diplomacy could ease supply concerns.The front-month Dutch TTF contract rose 0.537% to 43.795 euros ($51.56) per megawatt-hour and the front-month UK NBP contract gained 0.187% to 107.07 British pence ($1.46) per therm.Earlier in the session, TTF briefly hit 45.40 euros/MWh before softening on expectations that Tehran may respond to a US peace proposal after US Secretary of State Marco Rubio said Washington expects a response "today," according to reports.Supply support came from Norway, where extended maintenance at the Troll field cut flows to Europe, tightening near-term availability, but Equinor also brought the Eirin field online, exporting gas via the Gina Krog and Sleipner A platforms, adding new supply.EU gas inventories stand at 34.26% of capacity, down from 41.58% a year ago, according to Gas Infrastructure Europe, leaving storage rebuilding well behind seasonal norms.Equinor (EQNR) CFO Torgrim Reitan reportedly warned Europe is unlikely to reach its 80% storage target ahead of winter, citing weak price incentives and limited supply growth. Speaking on an analysts' call earlier this week, he said this would leave the market more exposed to weather and operational disruptions.Weather risk is compounding the outlook. Forecasters see a 60-70% chance of El Nino this summer, raising the risk of heat and drought that could disrupt LNG logistics, including transit through the Panama Canal. With storage still low and geopolitical risks elevated, analysts warn that volatility into winter could intensify, Montel News reported.Price: $36.86, Change: $-0.05, Percent Change: -0.15%

$EQNR

Wire56d ago

Planet Fitness Cuts 2026 Outlook After 'Marketing Missteps,' BofA Says

Planet Fitness (PLNT) is facing a reset in its growth outlook after weaker Q1 sign-ups and "marketing missteps," BofA Securities said Friday in a report.New marketing initiatives need time to gain traction after campaigns skewed too heavily toward fitness-focused customers rather than beginners, with March and April tracking below plans, the report said.The company's 2026 outlook was lowered across revenue, same-club sales, EBITDA and EPS, and avoiding the Black Card price increase may weigh on results, BofA said.Management hired a new creative agency that plans to launch a fresh campaign before year-end to set up the key Q1 2027 membership period, the report said.BofA lowered its rating on Planet Fitness stock to neutral from buy and slashed its price target to $59 from $110.Price: $45.72, Change: $+1.71, Percent Change: +3.89%

$PLNT

Wire56d ago

HubSpot's Agent-First Go-to-Market Shift Raises Execution Risk, BofA Says

HubSpot (HUBS) is reorienting its go-to-market model to be agent-first, which is strategically sound long term, but the simultaneous shift in pricing, packaging and go-to-market focus introduces significant execution risk and drives the downgrade, BofA Securities said Friday.The brokerage said it expects this to impact investor sentiment until clear traction is proven, which could take multiple quarters.BofA reinstated coverage of HubSpot in March with a buy rating, noting that an AI-agent-led H2 growth reacceleration to 20% warrants a positive re-rating. After Q1 results, BofA believes its bullish call was premature.Net new annual recurring revenue growth was slightly below Q1 revenue growth, with Q2 potentially following the same pattern given the retraining of sales representatives on the new go-to-market model in April, according to the note.The investment firm said HubSpot's guidance continues to imply growth in H2, which shifts the guidance setup towards a "beat and keep" for the next two quarters, as opposed to its prior expectations for a consistent beat and raise cadence.BofA downgraded HubSpot to underperform from buy and lowered the price objective to $180 from $300.Shares of HubSpot were down more than 20% in Friday trading.Price: $193.61, Change: $-50.11, Percent Change: -20.56%

$HUBS

Wire56d ago

Airbnb Faces Multi-Year Compounding Tailwind Potential, RBC Says

Airbnb (ABNB) is facing a multi-year compounding tailwind potential from booking and policy changes as well as hotels revenue optionality, RBC Capital Markets said in a Friday research note.The company's decision to push back on the large-language model threat believing that chatbots currently don't work for travel ecommerce is a positive, analysts wrote.Airbnb's Q1 revenue print was driven by growth in app nights booked and total nights booked, while margin improvement could be attributed to the sale of a privately-held equity investment and sustained operating expense efficiencies, according to the note.The company is expanding its boutique and independent hotel pilot to more markets, which management thinks are entry points expected to drive future demand, RBC stated.The brokerage said it reiterated its outperform rating on the stock and boosted its price target to $173 per share from $170.Price: $143.76, Change: $+3.29, Percent Change: +2.35%

$ABNB

Wire56d ago

Microchip Technology Q4 Results, Guidance Top Estimates as Recovery Broadens, BofA Says

Microchip Technology (MCHP) delivered Q4 results and guidance above Wall Street expectations, reinforcing signs of a broadening "recovery," BofA Securities said in a report Friday.The semiconductor company reported Q4 sales of $1.31 billion and earnings of $0.57 per share, topping Wall Street expectations by 4% and 13%, respectively. Q1 guidance for revenue of $1.46 billion and earnings of $0.69 per share also came in ahead of consensus estimates and implied sequential sales growth of 11%, according to the report.The firm said "recovery signals are strengthening" as distributor inventory normalizes, customer engagement improves and April bookings reach their highest level in nearly four years.The firm also pointed to growing momentum in aerospace and defense, data center pipeline demand including retimer components, networking, field programmable gate array, or FPGA, and artificial intelligence markets, supported by PCIe Gen6 switch wins, according to the report.BofA raised Microchip Technology's 2026 and 2027 earnings estimates by 17% and 8%, respectively, citing improving gross margins, higher utilization rates and continued execution of the company's turnaround strategy, while reiterating a buy rating and raising its price target to $122 from $112.Price: $98.25, Change: $-3.33, Percent Change: -3.28%

$MCHP

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