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Janux Therapeutics Lacking Near-Term Catalysts, UBS Says

Janux Therapeutics (JANX) lacks near-term stock-moving catalysts after the stock came under pressure following mixed results from phase 1a trial of JANX007 in 5L metastatic prostate cancer, UBS said in a Wednesday report.The report said focus will now be on the phase 1b update in taxane-naive metastatic castration-resistant prostate cancer population in H2, with upside depending on whether the data showing a clean safety profile and durable radiographic progression-free survival compared with Pluvicto."We think 2H26 data will likely be incremental with limited impact on the stock," the note said, given among others that that the trial is in dose optimization.The report said a more substantial update may be in 2027, whenmore patients from expansion cohorts and more mature follow-up are expected.UBS downgraded the stock to neutral from buy and lowered its price target to $15 from $57.Price: $14.77, Change: $-0.47, Percent Change: -3.08%

$JANX

Wire115d ago

L3Harris Technologies Plans Over $1 Billion Expansion of Virginia Rocket Motor Facility

L3Harris Technologies (LHX) said Wednesday it has agreed with Virginia officials to expand its solid rocket motor production capacity in Orange County with a more than $1 billion investment.The project is expected to more than double the manufacturing space at the site and create more than 350 jobs over the next five years, the aerospace company said.The new Virginia Advanced Propulsion Facilities will support operations like mixing, grinding, casting, and final assembly for various US Defense Department programs, L3Harris said.The company is also upgrading and expanding solid rocket motor production at its locations in Camden, Arkansas, and Huntsville, Alabama, to increase production rates, it added.Price: $356.60, Change: $+1.04, Percent Change: +0.29%

$LHX

Wire115d ago

Gold Royalties Offer Better Growth Than Miners Amid Cost Pressures, UBS Says

Gold streaming and royalty companies offer better growth and a stronger hedge against cost inflation than gold miners, with more stable margins and lower execution risk, UBS said in a note Wednesday.The analysts said that during the gold price upcycle last year, miners offered higher operational leverage to metal price upside, while inflationary pressures remained moderate and companies appeared less likely to miss guidance. At the same time, streaming companies like Franco-Nevada (FNV), Wheaton Precious Metals (WPM), and Royal Gold (RGLD) became cheaper relative to their historical valuations, they said.Looking ahead, gold prices are still expected to remain strong, but not rise as sharply as they did in 2025, the analysts said. Meanwhile, miners may face increasing cost pressures, especially from energy and potential disruptions, which could hurt margins, they added."We believe [Franco-Nevada, Wheaton Precious Metals, and Royal Gold] all offer superior near-term and medium-term growth prospects versus most large cap miners," the analysts said.UBS reiterated its buy ratings on Franco-Nevada with a $310 price target and on Wheaton Precious Metals with a $160 price target, and initiated Royal Gold with a buy rating and a $325 price target.Price: $256.03, Change: $-1.26, Percent Change: -0.49%

$FNV$RGLD$WPM

Wire115d ago

Update: BofA Securities Raises Price Target on Johnson & Johnson to $254 From $253, Maintains Neutral Rating

(Updated to include BofA's commentary)BofA Securities raised its price target on Johnson & Johnson (JNJ) to $254 from $253, while maintaining its Neutral rating after the company's reported better-than-expected Q1 results.Given the results, the brokerage modestly raised its 2026 forecasts mainly for Tremfya (immunology). But, as there were no thesis-changing updates, with the company providing above-peer top-line growth and favorable LOE profile, which is already reflected in its premium multiple, the brokerage reiterated its Neutral rating on balanced risk/reward.Johnson & Johnson has an average rating of overweight and mean price target of $256.39, 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://finwires.com/en/contact)Price: $237.77, Change: $-2.33, Percent Change: -0.97%

$JNJ

Wire115d ago

US Airlines Head Into Q1 Earnings With Demand Trends, M&A Chatter in Focus, UBS Says

United Airlines (UAL), Alaska Air Group (ALK), American Airlines (AAL) and Southwest Airlines (LUV) are heading into next week's Q1 earnings with investor attention centered on demand trends, unit-revenue guidance and renewed consolidation speculation, UBS Securities said Tuesday in a report.Delta Air Lines' (DAL) strong demand trends and low-teens Q2 revenue outlook set a high bar for the sector, with investors watching whether peers can sustain similar momentum or show signs of normalization, the report said.For United Airlines, UBS expects mid-teens Q2 revenue growth and above-consensus earnings, supported by improving year-over-year comparisons at its Newark, New Jersey, hub, strong premium demand and scenario-based full-year guidance.American Airlines is expected to post mid-teens Q2 revenue growth with a modest earnings loss, with potential upside from corporate share recapture but a likely wider guidance range or suspension of full-year targets, the report said.Southwest Airlines is expected to deliver high-teens unit-revenue growth and above-consensus earnings, with a suspension of full-year guidance anticipated as the carrier continues to advance its transformation strategy, UBS said.Results are due for Alaska Air on Monday, United on Tuesday, Southwest on April 22 and American on April 23.United shares fell 2.5% in Wednesday trading, Alaska Air eased 0.2%, American rose 1.1%, Southwest gained 1.2%, and Delta advanced 1%.Price: $94.79, Change: $-2.38, Percent Change: -2.45%

$AAL$ALK$DAL$LUV$UAL

Wire115d ago

Domino's Pizza to Miss First-Quarter Street Estimates, RBC Says

Domino's Pizza's (DPZ) first-quarter results will likely miss Wall Street's estimates, with economic challenges expected to drive a downgrade to the pizza restaurant operator's same-store sales outlook for the US, RBC Capital Markets said in a note e-mailed Wednesday.The brokerage expects Domino's to post 2.7% first-quarter comparable sales growth in the US, below analysts' consensus estimate that RBC put at 3%. Internationally, RBC is looking at a 0.8% rise, compared with the Street's expectation for a 0.7% increase.RBC forecasts Domino's first-quarter earnings per share at $4.22, lower than the $4.30 market view.The company in February pegged full-year US comparable sales growth at 3%. RBC anticipates a slight guide down as "potentially intensifying macro pressures since the (Feb. 23) earnings call could incrementally weigh on management's outlook," RBC analyst Logan Reich said.The brokerage expects a 2.5% gain in the US this year, compared with market expectations that call for a 2.7% rise."While Domino's is arguably a beneficiary of trade down, carryout, which has been the key SSS growth driver post-COVID, could be relatively more impacted by rising gas prices than delivery," Reich said.Energy prices have spiked following the US-Iran conflict that has disrupted shipments through the Strait of Hormuz. While recent peace talks in Pakistan ended without a deal, a two-week ceasefire between Washington and Tehran still holds."Elevated oil prices could start to impact international markets more broadly, particularly importers like China and India which have been key growth drivers of the segment," Reich wrote.RBC said US delivery is buoyed by incremental DoorDash (DASH) transactions, though the tally excluding DoorDash is seen falling by low single digits. Meanwhile, store closures by Yum Brands (YUM) unit Pizza Hut and Papa John's (PZZA) could be a slight benefit to Domino's in the first quarter, Reich added.RBC reiterated its sector perform rating on Domino's stock and reduced the price target to $400 from $425.Price: $368.45, Change: $-0.72, Percent Change: -0.20%

$DPZ

Wire115d ago

Johnson & Johnson Reported Above-Peer Topline Growth in Q1, BofA Says

Johnson & Johnson (JNJ) reported above-peer top-line growth in Q1 and a limited loss-of-exclusivity exposure, but that is already reflected in the company's premium multiple, BofA Securities said in a client note Wednesday.In its Q1 results, Johnson & Johnson did not provide any material research and development pipeline updates, with the investor call focusing on the Icotyde plaque psoriasis drug launch and reasons for perceived "softness" in MedTech, the BofA analysts said."Overall, 1Q offered nothing thesis changing," the analysts said.BofA said that the company's Tremfya drug has solidified its "number two" position in the drug target category, aided by subcutaneous Crohn's induction, with that benefit expected to neutralize when competitor AbbVie (ABBV) launches subcutaneous Skyrizi in 2027.The analysts updated their Tremfya peak sales estimate to $13 billion from $11 billion.BofA retained a neutral rating on the stock and increased its price target to $254 from $253.Price: $238.42, Change: $-1.68, Percent Change: -0.70%

$ABBV$JNJ

Wire115d ago

BlackRock Shows it Can Consistently Beat Organic Base-Fee Growth Target, UBS Says

BlackRock (BLK) continues to demonstrate that it can grow above its organic base-fee growth target of 6% to 7% or higher, UBS Securities said in a note emailed Wednesday.Q1 organic base fee growth of 8% exceeded BlackRock's target and was in line with the UBS estimate of 8.1%. The company's management noted share gains and "all-weather" growth across exchange traded funds, model portfolios, private markets, active ETFs and tax-aware strategies, the brokerage said.In private credit, the retail channel is under pressure. However, the company said its institutional allocations and interests are holding up and in some cases increasing as wider spreads improve returns, while defaults remain within historical norms, according to UBS.Private credit activity in Q1 was a bit softer, partly due to seasonal factors and uncertainty, but that is also creating new opportunities such as direct lending terms quoted 25 to 50 basis points wider, the brokerage said.UBS added that concerns on artificial intelligence disruption to private credit have impacted valuation, but it expects BlackRock to navigate these challenges well due to its scale and history of outperformance in asset management.The brokerage raised its 2026 and 2027 EPS estimates by nearly 1% to $53.50 and $59, respectively, driven by slightly higher management fees.UBS maintained a buy rating on BlackRock and raised the price target to $1,270 from $1,235.Price: $1050.24, Change: $-4.32, Percent Change: -0.41%

$BLK

Wire115d ago

Warner Bros. Discovery, JioHotstar Bring HBO Max to India

Warner Bros. Discovery (WBD) and JioHotstar said Wednesday they have expanded their partnership to make JioHotstar the exclusive home for HBO Max in India.The HBO Max hub on JioHotstar features content from HBO, Max Originals, Warner Bros. Pictures, Warner Bros. Television and DC Studios, the companies said.Price: $27.29, Change: $-0.09, Percent Change: -0.31%

$WBD

Wire115d ago

Market Chatter: Yum! Brands, Papa John's Advancing Sale Processes for Pizza Chains

Yum! Brands (YUM) continues to proceed with the sale process for its Pizza Hut chain, while Papa John's International (PZZA) remains in talks over a potential takeover, Reuters reported Wednesday, citing sources familiar with the matter.Three sources told Reuters that Yum! Brands set a deadline this week, seeking formal bids for Pizza Hut. Interested parties include Apollo Global Management (APO), Sycamore Partners, and LongRange Capital, but there is no guarantee that the firms will submit their offers, the sources added.Meanwhile, two sources told the newswire that Papa John's remains in talks with Irth Capital over a potential acquisition, with a due diligence underway over the past month. Irth Capital had offered to acquire the company for $47 a share in March, according to the report.Yum! Brands, Papa John's International, Apollo Global Management, and Irth Capital did not immediately respond to' requests for comments.(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: $161.10, Change: $-0.47, Percent Change: -0.29%

$PZZA$YUM

Wire115d ago

Street Color: Meta Platforms Reorganizing Reality Labs, The Information Reports

$META

Wire115d ago

Update: Equinor's Danske Commodities Cuts 28 Jobs to Further Commercial Strategy

(Updates to rewrite throughout with the company's response.)Equinor's (EQNR) Danske Commodities said Wednesday that it eliminated about 28 positions in March, as the company aims to further its new commercial strategy.As part of its organizational adjustments, some positions have been discontinued, while new positions are being established, according to a statement from Jonas Skovbjerg Hansen, vice president of people & culture, sent to."Change is never easy, but we believe these adjustments are necessary to ensure that Danske Commodities delivers on our ambition to be at forefront of tech trading and asset management," Hansen said.Price: $37.31, Change: $-0.69, Percent Change: -1.82%

$EQNR

Wire115d ago

Winmark Fiscal Q1 Net Income, Revenue Lower

Winmark (WINA) reported Wednesday fiscal Q1 net income of $2.50 per diluted share, down from $2.71 a year earlier.A single analyst expected $2.70 in a FactSet poll.Revenue for the quarter ended March 28 was $20.85 million, down from $21.92 million a year earlier.A single analyst expected revenue of $21.1 million.Shares were over 1% lower in morning trading.Price: $409.11, Change: $-7.89, Percent Change: -1.89%

$WINA

Wire115d ago

CarMax Facing Mixed Near-Term Outlook, RBC Says

CarMax (KMX) faces a mixed outlook as better unit trends, more cost cuts, and expansion plans could support results, but softer finance income, and higher gas prices may limit the pace of recovery, RBC Capital Markets said in a note emailed Wednesday.RBC said it lowered its Q1 adjusted earnings estimate to $1.01 per share from $1.16 prior on more cautious views for gross profit per unit and CarMax Auto Finance, while expecting fiscal 2027 adjusted earnings of $2.35 per share, and fiscal 2028 net sales growth of 4.3% and adjusted earnings of $2.73 per share.Retail unit trends improved sequentially in Q4, but retail gross profit per unit is expected to stay under pressure through fiscal 2027, with the biggest drop likely in fiscal Q1 as the company keeps pricing competitive, the investment firm said.Finance penetration is expected to grow over the next few quarters, servicing fee income should continue from the 2025-B deal, and CarMax's fiscal 2027 plans include about $400 million in capital spending, four new stores, and more auction and reconditioning sites, according to the note.RBC kept its sector perform rating and raised its price target to $41 from $37 by rolling its valuation forward by one year, and said recent top-line progress were encouraging, even as it questioned how long that momentum can last.Price: $41.15, Change: $-0.51, Percent Change: -1.22%

$KMX

Wire115d ago

Morgan Stanley Adjusts Kimco Realty Price Target to $24 From $23.50, Maintains Equal Weight Rating

Kimco Realty (KIM) has an average rating of overweight and mean price target of $24.96, according to analysts polled by FactSet.Price: $23.50, Change: $-0.11, Percent Change: -0.44%

$KIM

Wire115d ago

BofA Securities Raises Price Target on Johnson & Johnson to $254 From $253, Maintains Neutral Rating

Johnson & Johnson (JNJ) has an average rating of overweight and mean price target of $256.39, 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://finwires.com/en/contact)Price: $238.18, Change: $-1.92, Percent Change: -0.80%

$JNJ

Wire115d ago

AI Disruption Fears Overstated for BPO, IT Services Sector, Wedbush Says

Fears about artificial intelligence rapidly disrupting the Business Process Outsourcing, or BPO, and Information Technology, or IT, services sector seem overstated in the near term, Wedbush Securities said in a note Wednesday.The analysts said that while AI has been a major narrative affecting stock prices, the actual impact on business fundamentals has been limited so far. Much of the slowdown seen over the past two years is tied to companies cutting budgets related to post-COVID over-spending, rather than AI replacing existing services, they said.The analysts said that the main takeaway from their call with the BPO and IT services industry was that "near-term AI disruption fears appear meaningfully overstated relative to fundamentals."In terms of individual companies, Globant's (GLOB) key strength is its deep industry expertise and strong relationships with enterprise clients, making it resilient against newer AI-focused competitors, the analysts said.Cognizant (CTSH) is investing heavily in AI and expanding through mergers and acquisitions, but these efforts might take longer to materialize than the industry expects, whereas TaskUs (TASK) appears well-positioned for both growth and potential acquisition, they said.Price: $47.58, Change: $+1.29, Percent Change: +2.78%

$CTSH$GLOB$TASK

Wire115d ago

New Jersey Resources Keeps Quarterly Dividend at $0.475 a Share, Payable July 1 to Shareholders of Record June 10

$NJR

Wire115d ago

Johnson & Johnson Q1 Reinforces Growth Outlook on New Product Cycle, Morgan Stanley Says

Johnson & Johnson's (JNJ) Q1 results reinforced Morgan Stanley's confidence in the company's growth trajectory, driven by its new product cycle, including Icotyde.The company reaffirmed its long-term outlook and sees a path to double-digit revenue growth by 2030. Johnson & Johnson also highlighted key Pharma growth drivers, including Icotyde, Rybrevant and Inlexzo. It further pointed to cardiovascular launches and the Orthopedics separation as tailwinds in MedTech.Johnson & Johnson posted a Q1 beat and slightly lifted 2026 revenue guidance to $100.3 billion to $101.3 billion. This compares with Morgan Stanley's estimate of $101.1 billion and Street estimate of $100.6 billion. New adjusted EPS guidance was $11.45 to $11.65, versus Morgan Stanley's estimate of $11.82 and consensus of $11.56.The company expects heavier investment in H1, with stronger earnings growth in H2 as new product launches scale, according to the note Tuesday.Upcoming catalysts include additional readouts for Icotyde across plaque psoriasis and psoriatic arthritis. The company also expects data from the phase 2 Duet trials in ulcerative colitis and Crohn's disease. Phase 3 readouts of Milvexian in atrial fibrillation and secondary stroke prevention are also expected.Morgan Stanley maintained an overweight rating on Johnson & Johnson and raised its price target to $283 from $267.Price: $238.95, Change: $-1.15, Percent Change: -0.48%

$JNJ

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Wire115d ago

Financial News · Live Terminal

Janux Therapeutics Lacking Near-Term Catalysts, UBS Says

L3Harris Technologies Plans Over $1 Billion Expansion of Virginia Rocket Motor Facility

Gold Royalties Offer Better Growth Than Miners Amid Cost Pressures, UBS Says

Update: BofA Securities Raises Price Target on Johnson & Johnson to $254 From $253, Maintains Neutral Rating

US Airlines Head Into Q1 Earnings With Demand Trends, M&A Chatter in Focus, UBS Says

Domino's Pizza to Miss First-Quarter Street Estimates, RBC Says

Johnson & Johnson Reported Above-Peer Topline Growth in Q1, BofA Says

BlackRock Shows it Can Consistently Beat Organic Base-Fee Growth Target, UBS Says

Warner Bros. Discovery, JioHotstar Bring HBO Max to India

Market Chatter: Yum! Brands, Papa John's Advancing Sale Processes for Pizza Chains

Street Color: Meta Platforms Reorganizing Reality Labs, The Information Reports

Update: Equinor's Danske Commodities Cuts 28 Jobs to Further Commercial Strategy

Winmark Fiscal Q1 Net Income, Revenue Lower

CarMax Facing Mixed Near-Term Outlook, RBC Says

Morgan Stanley Adjusts Kimco Realty Price Target to $24 From $23.50, Maintains Equal Weight Rating

BofA Securities Raises Price Target on Johnson & Johnson to $254 From $253, Maintains Neutral Rating

Top Midday Stories: Allbirds to Pivot to AI From Shoes, Stock Soars; Morgan Stanley, Bank of America Q1 Earnings Top Estimates

AI Disruption Fears Overstated for BPO, IT Services Sector, Wedbush Says

New Jersey Resources Keeps Quarterly Dividend at $0.475 a Share, Payable July 1 to Shareholders of Record June 10

Johnson & Johnson Q1 Reinforces Growth Outlook on New Product Cycle, Morgan Stanley Says

Janux Therapeutics Lacking Near-Term Catalysts, UBS Says

L3Harris Technologies Plans Over $1 Billion Expansion of Virginia Rocket Motor Facility

Gold Royalties Offer Better Growth Than Miners Amid Cost Pressures, UBS Says

Update: BofA Securities Raises Price Target on Johnson & Johnson to $254 From $253, Maintains Neutral Rating

US Airlines Head Into Q1 Earnings With Demand Trends, M&A Chatter in Focus, UBS Says

Domino's Pizza to Miss First-Quarter Street Estimates, RBC Says

Johnson & Johnson Reported Above-Peer Topline Growth in Q1, BofA Says

BlackRock Shows it Can Consistently Beat Organic Base-Fee Growth Target, UBS Says

Warner Bros. Discovery, JioHotstar Bring HBO Max to India

Market Chatter: Yum! Brands, Papa John's Advancing Sale Processes for Pizza Chains

Street Color: Meta Platforms Reorganizing Reality Labs, The Information Reports

Update: Equinor's Danske Commodities Cuts 28 Jobs to Further Commercial Strategy

Winmark Fiscal Q1 Net Income, Revenue Lower

CarMax Facing Mixed Near-Term Outlook, RBC Says

Morgan Stanley Adjusts Kimco Realty Price Target to $24 From $23.50, Maintains Equal Weight Rating

BofA Securities Raises Price Target on Johnson & Johnson to $254 From $253, Maintains Neutral Rating

Top Midday Stories: Allbirds to Pivot to AI From Shoes, Stock Soars; Morgan Stanley, Bank of America Q1 Earnings Top Estimates

AI Disruption Fears Overstated for BPO, IT Services Sector, Wedbush Says

New Jersey Resources Keeps Quarterly Dividend at $0.475 a Share, Payable July 1 to Shareholders of Record June 10

Johnson & Johnson Q1 Reinforces Growth Outlook on New Product Cycle, Morgan Stanley Says