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Nokia Shares Rise After Upgrade From Arete Research

Nokia (NOK) shares were up 11% in afternoon trading on Wednesday after Arete Research upgraded the company's stock to buy from neutral.Trading volume stood at over 120.3 million shares against a daily average of about 64.9 million.Price: $12.54, Change: $+1.24, Percent Change: +10.93%

$NOK

Wire61d ago

Ares Acquires Stake in Rover Pipeline From Blackstone Energy Transition Partners

Ares Management (ARES) said Wednesday funds led by its Infrastructure Opportunities strategy have acquired a 32.4% stake in the Rover Pipeline from funds managed by Blackstone Energy Transition Partners.Rover, operated by Energy Transfer (ET), is a natural gas transmission pipeline that provides critical connectivity from the Appalachian Basin to end markets across North America, it said.Price: $109.94, Change: $-3.08, Percent Change: -2.72%

$ARES$BX$ET

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Market Chatter: PayPal to Make Venmo a Standalone Business

PayPal Holdings (PYPL) Chief Executive Enrique Lores told managers this week that his reorganizing the company to make Venmo its own standalone segment within PayPal, CNBC reported Wednesday, citing people with knowledge of the changes.Separating Venmo will make it easier to track its progress or potentially to sell to another company, the report said, citing the people. PayPal is looking to add a digital banking executive to run the new Venmo segment, CNBC said citing the people.PayPal 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: $50.38, Change: $+0.73, Percent Change: +1.48%

$PYPL

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Arthur J. Gallagher Keeps Quarterly Dividend at $0.70 a Share, Payable June 19 to Shareholders of Record June 5

$AJG

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Update: Bloom Energy Share Rise After Q1 Beat

(Updates with the stock move in the headline and the first paragraph.)Bloom Energy's (BE) shares were up nearly 24% in Wednesday trading, a day after the company reported Q1 adjusted earnings and revenue above market expectations.The company reported Q1 adjusted earnings late Tuesday of $0.44 per diluted share, up from $0.03 a year earlier.Analysts polled by FactSet expected $0.12.Revenue for the three months ended March 31 was $751.1 million, up from $326.0 million a year earlier.Analysts surveyed by FactSet expected $539.9 million.For 2026, the company said it raised its guidance for adjusted EPS to $1.85 to $2.25 and revenue to $3.4 billion to $3.8 billion. Analysts expected $1.42 and $3.24 billion, respectively.Price: $280.50, Change: $+54.13, Percent Change: +23.91%

$BE

Wire61d ago

Market Chatter: Blackstone to Reorganize Growth Business Into New AI-Focused Unit

Blackstone (BX) is planning to integrate its growth business into a new West Coast-based unit that will focus on its AI portfolio and high-growth tech bets, Bloomberg reported Wednesday, citing an internal company note.The new Blackstone N1 unit will oversee the company's technology investments for its BXPE private equity fund, as well as its growth and Tactical Opportunities businesses, according to the report.Blackstone 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: $118.79, Change: $-2.73, Percent Change: -2.25%

$BX

Wire61d ago

PVH Keeps Quarterly Dividend at $0.0375 per Share, Payable June 24 to Shareholders of Record June 3

$PVH

Wire61d ago

Update: Phillips 66 Swings to Q1 Adjusted Profit; Shares Rise

(Updates with the latest stock move in the headline and in the first paragraph.)Phillips 66 (PSX) shares were up 4.6% in Wednesday trading after the company posted Q1 earnings compared with a loss last year and raised its annualized quarterly dividend.The company reported quarterly adjusted earnings of $0.49 per diluted share, swinging from an adjusted loss of $0.90 a share a year earlier.Analysts polled by FactSet expected a non-GAAP loss of $0.54 a share.The company raised its annualized quarterly dividend by 7%, according to the statement.Price: $173.00, Change: $+7.87, Percent Change: +4.77%

$PSX

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PayPal to Make Venmo a Standalone Business, CNBC Reports

$PYPL

Wire61d ago

General Motors Could Top 2026 Outlook if Economy Stabilizes, UBS Says

General Motors (GM) could beat its 2026 outlook if the economy steadies, with further earnings growth likely into 2027 from cost control, electric vehicle profitability, stronger vehicle mix, and share buybacks, UBS said in a note emailed Wednesday.Investor concerns over commodity costs and demand risk misses General Motors' stronger execution, flexibility and spending control, according to the note.General Motors' outlook has some elements of conservatism because the company has not included a possible restocking of high-profit pickups and SUVs in its guidance, UBS said.The firm noted that possible USMCA trade talks are more likely to help the company than hurt it, though not included in its outlook.UBS kept its buy rating on General Motors and lowered its price target to $102 from $105.Price: $76.08, Change: $-2.87, Percent Change: -3.63%

$GM

Wire61d ago

Lululemon Athletica Founder Raises Concerns Over New CEO Appointment

Lululemon Athletica (LULU) founder and largest active shareholder, Chip Wilson, on Wednesday sent a letter to the company's shareholders questioning the appointment of Heidi O'Neill as chief executive.He also urged shareholders to vote for his three board nominees at the company's 2026 annual meeting, which will "help restore lululemon's once bold vision and product-centered brand," the letter said.Wilson said O'Neill's long career at Nike (NKE) does not reflect the type of "creative-first" leadership he thinks lululemon needs. He also said the board should have anticipated investor concerns about her appointment.He added that delaying O'Neill's start exposes her to months of public scrutiny and said the ongoing proxy battle raises broader questions about whether the CEO search process should be reviewed by a new board.Lululemon Athletica didn't immediately reply to' request for comment.Price: $138.74, Change: $-3.65, Percent Change: -2.56%

$LULU

Wire61d ago

Stryker's Fundamentals 'Solidly Intact' Despite Cyber Disruption, RBC Says

Stryker's (SYK) fundamentals remain solidly intact despite a recent cybersecurity disruption that could limit upside to the company's 2026 guidance, RBC Capital Markets said in a note Tuesday.Citing comments made by Stryker's competitor, Zimmer Biomet (ZBH), on its earnings call Tuesday, the brokerage said the cyber incident in Q1 did not appear to have translated into any meaningful share loss for Stryker.Zimmer executives said they did not materially benefit from Stryker's operational difficulties due to the cyber incident, while highlighting positive end-market dynamics, with no macro disruption, according to the note.The firm said a healthy orthopedic market with stable demand, steady pricing, reconstruction market growth above 4% and solid hospital capital spending on technology platforms provide a "favorable backdrop" for Stryker, which has resumed full operations following the cyber incident.Stryker has indicated the disruption is "not reasonably likely" to have a material effect on its 2026 outlook, which calls for organic revenue growth of 8% to 9.5%, the firm said.RBC Capital Markets reiterated an outperform rating on Stryker, with a price target of $435.Shares of Stryker were down about 2% in Wednesday trading.Price: $314.80, Change: $-6.63, Percent Change: -2.06%

$SYK$ZBH

Wire61d ago

Spotify Shares Rise After Universal Music Moves to Sell Half Its Stake

Spotify Technology (SPOT) shares rose 1.8% in Wednesday trading after Universal Music Group said it plans to sell half its stake in the streaming company, with its portion of the proceeds earmarked for buybacks.Intraday volume topped 1.96 million shares, compared with the daily average of 2.72 million.Universal also said Wednesday that artists will share in the proceeds from the sale, in line with its compensation policies.Price: $442.15, Change: $+7.95, Percent Change: +1.83%

$SPOT

Wire61d ago

Corning Seen More Likely to Achieve Higher Sales Growth Over Long Term, UBS Says

Corning's (GLW) is seen more likely to achieve higher sales growth and profit margin gains with a stronger long-term growth outlook, UBS said in a Tuesday note.Investor expectations on pricing and margins may have gotten too high, which led to the company's recent stock decline of 9%, UBS analysts said.The company's Q2 guidance matched UBS's expectations, excluding solar maintenance impacts, and the analysts said they boosted their estimated 2027 and 2029 sales based on their higher conviction for growth. Profit margins continue to rise as the company posts 40% to 50% incremental margins in its optical segment, although there may be some short-term volatility as capacity comes online, according to the note.Over the next three years, the analysts project compound annual growth rate of 17% for sales and 32% for EPS. Their updated 2028 estimates include around $26 billion for sales and $5.80 for EPS.UBS maintained the company's stock rating at buy and raised the price target to $179 from $171.Price: $149.59, Change: $-3.46, Percent Change: -2.26%

$GLW

Wire61d ago

Market Chatter: Apple Plans AI Push With Siri Camera Mode in iOS 27

Apple (AAPL) is planning to integrate artificial intelligence more deeply into the iPhone's camera app by introducing a new Siri mode in its upcoming iOS 27 update, Bloomberg reported Wednesday, citing people familiar with the matter.The company's visual intelligence tool, which is currently linked to the camera control button, is expected to be embedded directly into the camera app, according to the report.The changes are expected to be launched at Apple's Worldwide Developers Conference in June, the media outlet reported.Apple 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: $270.01, Change: $-0.70, Percent Change: -0.26%

$AAPL

Wire61d ago

Zimmer Biomet Supported by Sales Force Improvements, 2026 Upside Potential, RBC Says

Zimmer Biomet's (ZBH) sales force productivity improvements, stable end markets and continued focus on buybacks remain supportive, though the quarter was weighed by transition-related execution and guidance concerns, RBC Capital Markets said.The company is undergoing go-to-market model adjustments in the US, shifts in emerging markets, aggressive investments in innovation and significant talent and sales force changes. Management categorized 2026 as a "year of transition" and held off on raising full-year revenue guidance despite a "strong" Q1, the brokerage said Tuesday in a note.RBC believes the recent 10% stock decline reflects a lack of core business beat and raise. It also points to concerns over earnings quality, given that most of the EPS beat was driven by a tariff refund. In addition, unchanged revenue guidance implies lower numbers in Q2 to Q4.The firm said the market is also focused on 2027 margin and EPS growth, especially given this year's tariff refund benefit. 2026 guidance has room for a beat and raise, driven by US sales force transition benefits, new product launches and organic growth contribution from Paragon 28 starting in Q2.RBC models 2026 sales of $8.56 billion, near the top end of Zimmer's 1% to 3% growth guidance. It also expects EPS of $8.48, implying 3.5% growth, impacted by acquisition-related dilution and the tariff benefit this year.RBC maintained an outperform rating on Zimmer Biomet with a price target of $101.Shares of Zimmer were down 2.5% in Wednesday trading.Price: $80.76, Change: $-2.04, Percent Change: -2.46%

$ZBH

Wire61d ago

Sysco Extends Q3 Momentum, Calms Restaurant Depot Concerns, UBS Says

Sysco's (SYY) momentum in fiscal Q3 remained intact as the company pushed back on concerns that its pending Jetro Restaurant Depot acquisition would require a costly overhaul, UBS Securities said Wednesday in a report.UBS said Sysco continued to post steady operational gains in the period, including its strongest US growth in case shipments to independent restaurants since Q3 2023. Questions around Restaurant Depot's condition may linger, though Sysco's third-party inspections of more than 160 stores helped ease investor concerns, the report said.International results also improved, and UBS expects that business to keep benefiting from supply-chain and private-label investments. Still, higher energy costs in Europe could pressure consumers if the Middle East conflict drags on, the report said.UBS maintained its buy rating on Sysco stock with a price target of $90.Price: $73.79, Change: $+0.42, Percent Change: +0.57%

$SYY

Wire61d ago

On Holding Likely to Post Q1 Sales Beat on Solid Trends, UBS Says

On Holding (ONON) is likely to post Q1 sales growth beat and raise its 2026 guidance on solid topline trends, UBS said in a Wednesday research report. The company is due to release Q1 results on May 12.The sentiment around the stock appears bearish amid the recent CEO change as well as high oil prices weighing much more on its margin guidance than expected, analysts wrote.Channel checks indicated that the company's Q1 digital trends were solid with total and unique global visits to its site rising 20% and 21%, respectively, while European Union spend likely grew 35%, according to the note.For Q1, UBS expects sales growth of 15.4%, but forex remains a material headwind, according to the note. For 2026, the brokerage said it expects the company to raise its sales growth guidance by 100 basis points.The brokerage maintained its buy rating on the stock and price target of $85 per share.Price: $34.95, Change: $-0.48, Percent Change: -1.35%

$ONON

Wire61d ago

Kimberly-Clark Shows Steady Performance Amid Volatile Macros, RBC Says

Kimberly-Clark (KMB) showed a steady Q1 performance amid volatile macros and Kenvue (KVUE) acquisition, RBC Capital Markets said in a note on Wednesday.The report said the company topped organic sales and earnings per share expectations in the quarter."Share performance in the US and internationally signals strong fundamentals and that ongoing M&A activity (Suzano JV and KVUE acquisition) is not impacting execution," the note said.Guidance was largely reiterated, and the firm pointed to potential inflation in H2 on rising oil prices, the note said, adding that new guidance will be issued if the Kenvue deal closes in H2."We continue to see more upside than downside to KMB," it said. RBC kept its outperform rating with a $162 price target.Price: $96.96, Change: $-1.48, Percent Change: -1.50%

$KMB$KVUE

Wire61d ago

Pentair Stock Decline on Potential Inventory Destocking 'Overdone,' RBC Says

Pentair (PNR) shares fell 10% following the company's Q1 earnings report on Tuesday but the sell off, tied to warnings of a potential inventory destocking, was "overdone," RBC Capital Markets said.During the company's earnings call, Pentair disclosed expectations for its Pool channel partners to execute an inventory reduction in Q2 and Q3, which stems from a lowered industry volume forecast, especially for high-end discretionary products, the RBC analysts said. Pentair explained that recent price actions had prompted distributors to stock up, the analysts said.The stock price decline was also driven by H2-weighted guidance and concerns over residential and consumer spending, according to the note.However, Pentair continues its strong execution on productivity initiatives, margin improvement, and new product introductions, fueling a streak of 16 consecutive quarters of margin expansion, the analysts noted. They said that they have not observed any execution issues or missteps.RBC maintained the company's stock rating at outperform and lowered the price target to $101 from $107.Price: $81.36, Change: $-1.50, Percent Change: -1.81%

$PNR

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