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Electra Battery Materials Signs $20 Million Canada Investment Deal for Cobalt Refinery

Electra Battery Materials (ELBM) said Monday it executed a binding investment agreement with the Government of Canada under the Strategic Response Fund.The investment provides $20 million in federal funding to support the construction and commissioning of its battery-grade cobalt sulfate refinery in Temiskaming Shores, Ontario.Mechanical completion of the facility is expected in the second quarter of 2027. Once commissioned, the refinery will have an initial annual production capacity of about 5,120 tonnes of battery-grade cobalt, increasing to 6,500 tonnes.A majority of production will be sold to LG Energy Solution under an offtake agreement announced earlier this year. The funding includes repayable and non-repayable contributions. The repayable portion is expected to be repaid over a defined period following project completion, according to the company.Shares of Electra Battery Materials rose more than 8% in Monday trading.Price: $0.64, Change: $+0.05, Percent Change: +8.35%

$ELBM

Wire100d ago

Ensign Delivers 'Impressive' Start to 2026, RBC Says

Ensign Group (ENSG) delivered a beat-and-raise in Q1, with strong sequential managed care growth seen rebutting clinical review concerns, RBC Capital Markets said in a note Friday.The note said it was another "impressive" quarter, with EBITDA and EBITDAR both exceeding market expectations.The report also said investors have focused on managed care referral volume following UnitedHealth's comments on increased clinical scrutiny to limit Skilled Nursing Facility admissions."We are encouraged by ENSG's strong sequential managed care census growth, robust acquisition pipeline, and management's confident tone on payer diversification," the note said.The report also said the company continues to execute its mergers and acquisition strategy, with an accelerating pipeline into Q2 and Q3.RBC kept its outperform rating with a price target of $222.Price: $181.82, Change: $-1.90, Percent Change: -1.03%

$ENSG

Wire100d ago

Ventas' Growth Outlook Improves on Strong Senior-Housing Trends, RBC Says

Ventas (VTR), a health-care real estate investment trust, continues to post strong growth in its senior-housing operations and is finding attractive investment opportunities, RBC Capital Markets said Friday in a report.RBC increased its forecast for senior-housing operating income growth by about 100 basis points in 2026 and 2027 and said it still expects Ventas to complete $3 billion of acquisitions a year.The senior-housing business continues to benefit from a strong operating backdrop, including pent-up demand and limited vacancy at well-run communities, reinforcing confidence in Ventas' long-term outlook, the report said.Estimates imply core earnings growth of 9.3% in 2026, 11.3% in 2027, and 12.2% in 2028, RBC said. Occupancy in the senior-housing portfolio may rise to 93% in Q4, 94.9% in Q4 2027 and 96.1% in Q4 2028, the report said.RBC raised its price target on Ventas stock to $98 from $91 and maintained its outperform rating.Price: $88.00, Change: $-0.02, Percent Change: -0.02%

$VTR

Wire100d ago

Update: Medline Launches AI-Powered Mpower Platform to Strengthen Supply Chain

(Adds stock movement in the final paragraph)Medline (MDLN) has launched Mpower, a cloud-based, AI-powered supply chain platform designed to help health care providers anticipate and respond to potential disruptions before they impact patient care, the company said Monday.The digital control tower "predicts future risks, offers real-time solutions with proactive optimizations and automates workflows," the company said, adding that it aims to reduce daily operational burden for supply chain and clinical teams.Initial data from 10 US health systems where Mpower was deployed showed more than a 50% improvement in order substitution workflows and decision making, Medline said.The platform, developed with Microsoft, is being rolled out in phases through 2026, with additional features planned as it evolves.MDLN shares were down 1.3% in Monday afternoon trading.Price: $44.18, Change: $-0.58, Percent Change: -1.28%

$MDLN

Wire100d ago

OneMain's Q1 Consumer Loan Credit Performed Better Than Pre-Pandemic Patterns, RBC Says

OneMain (OMF) saw Q1 consumer loan credit perform better than pre-pandemic patterns, although net charge-offs were higher than expected, RBC Capital Markets said in a note emailed Monday.The company's company-wide net charge-off was 8.4%, higher than the expected 8.1% figure, RBC analysts said. Their updated model forecasts net charge-offs of 7.6% for full-year 2026.On the positive side, consumer and insurance loans, including autos, showed fewer 30 to 89 days delinquencies, beating estimates at 2.84% versus 3.04%, the analysts said. Their analysis of asset-backed securities trust data confirmed that non-auto consumer loan delinquencies were better than pre-pandemic levels.RBC increased its 2026 and 2027 adjusted EPS estimates for the consumer and insurance loans segment to $7.41 and $8.61, from $7.38 and $8.55, respectively.The analysts said they maintain a positive view on OneMain's resilient business model, capital generation potential, and strong liquidity position.RBC kept the company's stock rating at outperform and revised the price target to $70 from $73.Price: $55.38, Change: $-1.22, Percent Change: -2.15%

$OMF

Wire100d ago

Top Midday Gainers

Celcuity (CELC) reported late Friday positive topline results from a cohort of its phase 3 Viktoria-1 trial, with the study meeting its primary endpoint and showing a clinically meaningful improvement in progression-free survival.The study evaluated gedatolisib plus fulvestrant, with or without palbociclib, in patients with HR-positive, HER2-negative, PIK3CA-mutant advanced breast cancer who had progressed after a CDK4/6 inhibitor and an aromatase inhibitor.Shares jumped more than 16%, with intraday trading volume at over 2.5 million from a daily average of roughly 737,000.CNS Pharmaceuticals (CNSP) shares surged 268% amid heavy trading after the company said Monday it signed deals for a private placement financing likely to generate roughly $22.5 million.Intraday trading volume catapulted to over 78.4 million shares from a daily average of about 32,000.American Express Global Business Travel, which is operated by Global Business Travel Group (GBTG), said Monday it has entered into a definitive agreement to be acquired by Long Lake Management for $9.50 per share in an all-cash deal valued at about $6.3 billion.Shares soared 57%, with intraday trading volume of over 61.6 million from a daily average of about 1.6 million.Price: $146.00, Change: $+20.35, Percent Change: +16.20%

$CELC$CNSP$GBTG

Wire100d ago

Sanofi Plans $216 Million AI Center Expansion in Toronto

Sanofi (SNY) said Monday it will invest 294 million Canadian dollars ($216 million) to expand its global AI Centre of Excellence in Toronto in a bid to accelerate the development and delivery of medicines.The expansion will create 50 new jobs focused on the designing and deployment of advanced AI tools, according to a statement.The expansion is also supported by a conditional grant of up to CA$5 million from the Invest Ontario Fund, the company said.Shares of Sanofi were down 6% in Monday trading.Price: $43.30, Change: $-2.78, Percent Change: -6.03%

$SNY

Wire100d ago

Acadia Healthcare Rebounds After Bad Debt Concerns Clarified, RBC Says

Acadia Healthcare's (ACHC) outlook has improved after management clarified concerns around bad debt following its recent earnings call, RBC Capital Markets said in a Friday note.The brokerage said in a Friday note that the sharp post-earnings selloff was an "overreaction" and that management's follow-up comments walked back earlier "broad-based" bad debt concerns. It added that the issue is instead "not broad-based across payer types or geographies, but rather isolated to a small number of geographies and specific payors."RBC also pointed to potential upside from Florida supplemental payments, which are not yet included in guidance.The brokerage said it is "incrementally more comfortable in ACHC's positioning" given management's focus on operational discipline and added resources to address denial and bad debt issues.RBC raised its price target to $31 from $28 while maintaining an outperform rating.Shares of Acadia were up nearly 2% in Monday trading.Price: $28.39, Change: $+0.54, Percent Change: +1.94%

$ACHC

Wire100d ago

Cisco Systems Plans to Acquire Astrix Security

Cisco Systems (CSCO) said Monday it plans to buy Astrix Security to broaden its automated agent and non-human identity defense capabilities.Astrix delivers discovery, lifecycle administration, and threat mitigation tools to secure machine credentials and minimize system vulnerabilities, Cisco said.The network equipment provider expects to integrate Astrix's functions into its identity intelligence, boosting visibility and context across identities within its security platform, it added.Financial terms were not disclosed.Price: $93.03, Change: $+1.18, Percent Change: +1.28%

$CSCO

Wire100d ago

Genco to Review Diana Shipping's $23.50-a-Share Tender Offer

Genco Shipping & Trading (GNK) said Monday that Diana Shipping (DSX) launched a conditional, unsolicited tender offer to acquire the remaining Genco shares for $23.50 per share in cash, and that its board is reviewing the bid.The offer price matches Diana's March 6 proposal, which Genco's board unanimously rejected as inadequate and below the company's net asset value, the company said.Genco shares fell 2.2% in Monday trading, and Diana rose 0.6%.Price: $23.99, Change: $-0.55, Percent Change: -2.22%

$DSX$GNK

Wire100d ago

Genco to Review Diana Shipping's Offer to Acquire All Outstanding Shares

$DSX$GNK

Wire100d ago

Sector Update: Consumer

Consumer stocks were lower Monday afternoon, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) each falling about 1%.In corporate news, GameStop (GME) has proposed to acquire eBay (EBAY) in a cash-and-stock deal worth about $55.5 billion. GameStop fell past 7%, and eBay jumped 5.4%.

$EBAY$GME

Wire101d ago

Walmart Second P&L Seen Driving Majority of Future Earnings Growth, UBS Says

Walmart's (WMT) second P&L has driven a significant upward revaluation of its share price, though UBS Securities said in a note Monday that the market still does not fully reflect the long-term earnings potential or duration of growth from these businesses.The market is debating the second P&L because it has not fully incorporated either the magnitude of its contribution or how long Walmart can sustain its current growth rate.Amazon (AMZN) provides a close comparison and serves as a benchmark for Walmart's second P&L. UBS said Amazon's scaling of its 3P marketplace suggests Walmart can sustain the second P&L's current growth rate for an extended period.UBS forecasts that Walmart's total enterprise-wide earnings before interest and taxes will reach about $53.7 billion by 2030, compared with $29.5 billion in 2025. The firm expects the second P&L to contribute $30.2 billion to EBIT by 2030, versus $8.5 billion in 2025.Through 2030, the second P&L is expected to drive 75% of Walmart's EPS growth, contributing nearly $2.80 to the forecasted 2030 EPS of $5.40, according to the note.UBS has a buy rating on Walmart, with a price target of $147.Price: $130.37, Change: $-1.23, Percent Change: -0.93%

$WMT

Wire101d ago

Newell Brands Posts Q1 Core Sales Beat, Signals Q2 Growth, RBC Says

Newell Brands (NWL) reported a Q1 core sales beat, supporting management's confidence in a return to growth in Q2, RBC Capital Markets said Monday in a report.Stronger-than-expected category demand showed the company's revised commercial strategy is gaining traction, including a return to positive core sales growth in the learning and development division and solid gains in the baby segment, the report said. The home and commercial unit and the outdoor and recreation segment also beat internal targets, RBC said.Margins expanded despite tariff and inflation headwinds, aided by pricing and productivity improvement, while six of the top 10 brands posted point-of-sale growth and market-share gains, the report said.Rising input-cost headwinds tied to the Middle East conflict, including higher resin and diesel prices, may weigh on margins, particularly in Q2, the report said.RBC maintained a sector perform rating on Newell Brands stock with a price target of $4.Price: $4.63, Change: $+0.08, Percent Change: +1.65%

$NWL

Wire101d ago

LyondellBasell Set to Benefit From Rising Polyethylene, Polypropylene Prices in Q2, RBC Says

LyondellBasell Industries (LYB) reported a solid Q1 and expects a significant improvement in Q2, supported by rising polyethylene and polypropylene prices, RBC Capital Markets said in a note Sunday.Analysts said prices are up about 30 cents per pound for polyethylene and about 20 cents per pound for polypropylene in Q2, with potential for further increases is the Strait of Hormuz remains closed. Management also pointed to potential stronger earnings in its olefins and polyolefins business in Europe, Asia, and international markets, along with lower maintenance costs, according to the note."LyondellBasell is yet to see signs of demand destruction in the US/Europe and given depressed durables consumption, LyondellBasell thinks it is unlikely, especially given global polyethylene pricing remains well below the 2021 peak," the analysts said.For Q2, analysts said they expect about $700 million to $800 million quarter-over-quarter boost from about 30 cents per pound higher polyethylene prices, a $200-300 million increase from 10 cents per pound higher polypropylene prices, and about $85 million from lower downtime.Overall, RBC now projects full-year 2026 earnings before interest, taxes, depreciation, and amortization at nearly $5.5 billion, up from $3.85 billion previously, and Q2 EBITDA is expected to be around $1.5 billion, up from $1.09 billion previously, while Q3 earnings could exceed $2 billion. The outlook assumes the Strait of Hormuz disruption continues through May, followed by one to three months of normalization considering shipping delays and supply chain issues.RBC raised its price target on LyondellBasell Industries to $94 from $91, and kept its outperform rating.Shares of LyondellBasell were up more than 2% in Monday trading.Price: $76.76, Change: $+1.77, Percent Change: +2.35%

$LYB

Wire101d ago

Estee Lauder's Turnaround Continues, Middle East Headwinds Remain, RBC Says

Estee Lauder's (EL) turnaround continues, but headwinds from the Middle East conflict could still weigh on fiscal Q4 results, RBC Capital Markets said in a Monday note.Estee Lauder reported fiscal Q3 adjusted earnings of $0.91 per diluted share, up from $0.65 a year earlier, as net sales increased to $3.71 billion from $3.55 billion. The company also raised its fiscal 2026 adjusted EPS outlook to between $2.35 and $2.45, from $2.05 to $2.25 previously.Business disruptions from the Middle East conflict are estimated to have a negative impact of $0.07 to the company's fiscal 2026 EPS and $0.06 dilutive to fiscal Q4 EPS, the investment firm said. RBC noted that Estee Lauder's updated outlook "assumes no deterioration" in the Middle East beyond May, along with current market conditions.The guidance is still "reasonable" and positions Estee Lauder to hit its targets, RBC added.RBC Capital Markets has an outperform rating and $111 price target on Estee Lauder.Price: $81.35, Change: $+2.05, Percent Change: +2.59%

$EL

Wire101d ago

Textron to Unlock Value Through Split, Morgan Stanley Says

Textron (TXT) is showing a credible step to unlocking value from separating its Industrial segment to become a cleaner aerospace and defense firm, Morgan Stanley said in a note Monday."We see the planned separation as a step toward unlocking value, but key uncertainties remain around structure, timing, and ultimate value realization," the report said.The note also said it is shifting to a sum-of-the-parts valuation to better capture segment value as TXT transitions toward a more focused A&D portfolio."We believe Systems is underappreciated today, and the key debate is whether TXT can earn credit for its unmanned and defense tech exposure," the note added.Morgan Stanley increased its price target to $109 from $92 while keeping its equal weight rating, citing a balanced risk reward.Price: $92.03, Change: $-2.69, Percent Change: -2.84%

$TXT

Wire101d ago

Uber, Ahold Delhaize Expand Partnership to Further On-Demand Grocery Delivery

Uber Technologies (UBER) and Ahold Delhaize USA have expanded their partnership to enhance on-demand grocery delivery via Uber Eats for customers across the Northeast and Mid-Atlantic, the companies said on Monday.Financial details related to the expanded partnership were not disclosed.Through the collaboration, nearly 2,000 stores, operated by Food Lion, Giant Food, The Giant Company, as well as Hannaford and Stop & Shop are now available on the Uber Eats marketplace, the companies added.Price: $73.89, Change: $-1.23, Percent Change: -1.64%

$UBER

Wire101d ago

Chevron's Q1 Results Set up 'Meaningful Acceleration' for Rest of the Year, UBS Says

Chevron's (CVX) Q1 financial results set up a "meaningful" acceleration in sequential earnings, with momentum building through the rest of this year and into the first half of 2027, UBS analysts said in a Monday note.UBS said Chevron's Q1 results were ahead of expectations despite facing significant headwinds from timing effects.Analysts said that the conflict in the Middle East did not directly impact Chevron's assets, with projects shut as precautionary measures now back online.UBS said that several potential drivers could drive Chevron's earnings higher in Q2 and Q3, including from its TCO Kazakhstan project, which is running above announced capacity, with volumes from Kazakhstan/Eurasia expected to increase 60% in Q2.Analysts said that for long-term contract volumes, every $10 increase in Brent and Japan Crude Cocktail prices per barrel of oil will result in $600 million in pre-tax earnings and $450 million in after-tax earnings.UBS retained a buy rating on the stock and increased its price target to $220 from $218.Price: $191.83, Change: $+1.20, Percent Change: +0.63%

$CVX

Wire101d ago

UFP Industries Acquires John Rock for $48 Million

UFP Industries (UFPI) said Monday it is acquiring pallet manufacturer John Rock for about $48 million to bolster its packaging abilities and expand its unit PalletOne's outreach in the northeast region.UFP Industries is buying three of the four operating locations, but the sawmill in Dilwyn, Virginia will remain with the seller, the company said.The acquisition adds $82 million in annual sales and will transition 250 John Rock employees to UFP, according to a statement.The acquired assets will be integrated into PalletOne's existing manufacturing network to improve efficiency and service levels, the company stated.Price: $81.93, Change: $-3.25, Percent Change: -3.82%

$UFPI

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