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Top Midday Decliners

Avis Budget Group's (CAR) stock plunged 48% as intraday volume topped 13.6 million shares versus the daily average of about 2.12 million.The shares slumped for the second straight day after short sellers pocketed $2.8 billion in Wednesday's rout, Bloomberg reported, citing data from S3 Partners.ASGN (ASGN) shares tumbled 46% a day after the company reported lower Q1 adjusted net income and issued weaker-than-expected Q2 guidance.Volume topped 5.63 million shares versus the daily average of 830,549.ServiceNow (NOW) faces softer organic revenue trends and a slightly weaker margin outlook even after strong Q1 results, Oppenheimer said.The stock fell 18% as volume topped 65 million shares versus the daily average of almost 21.9 million.Price: $230.94, Change: $-213.00, Percent Change: -47.98%

$ASGN$CAR$NOW

Wire151d ago

Venture Global Closes $750 Million Notes Offering

Venture Global (VG) said Thursday its subsidiary Venture Global Calcasieu Pass closed a $750 million offering of 6% senior secured notes due 2036.Net proceeds, together with cash on hand and hedge termination proceeds, will be used to prepay its outstanding term loans and cover offering-related fees and expenses, according to a statement.Shares of Venture Global were up more than 3% in Thursday trading.

$VG

Wire151d ago

Apple, Amazon Among Companies Asking GHGP to Make Some Proposed Scope 2 Updates Optional

Apple (AAPL), Amazon.com (AMZN) and over 60 other companies have requested the Greenhouse Gas Protocol, or GHGP, to make some proposed updates to Scope 2 emissions reporting rules optional, according to their joint statement on Wednesday.As the GHGP reviews feedback on its proposed updates, the companies asked that hourly- and strict-deliverability-matching in the market based method be made optional, rather than mandatory, the document showed.The companies are concerned that the proposed revisions could result in limited benefits to carbon accounting accuracy, slow down private sector's clean energy efforts, discourage voluntary clean energy procurement, and increase electricity prices for individuals and companies, according to the statement.Price: $272.76, Change: $-0.41, Percent Change: -0.15%

$AAPL$AMZN

Wire151d ago

Market Chatter: Meta Plans to Cut 10% of Workforce

Meta Platforms (META) intends to eliminate roughly 8,000 jobs, or 10% of its workforce, in an attempt to boost efficiency and offset significant spending on artificial intelligence, Bloomberg reported Thursday, citing a memo the company sent to employees.The layoffs will take place May 20, and the tech giant also said it won't hire workers to fill 6,000 roles it had intended to fill, the report said, citing the memo.Meta 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: $655.94, Change: $-18.78, Percent Change: -2.78%

$META

Wire151d ago

Top Midday Gainers

Texas Instruments (TXN) reported higher Q1 earnings and revenue late Wednesday and also set out Q2 guidance above consensus.Shares advanced 19% as intraday trading volume soared to over 17 million from a daily average of roughly 7.4 million.United Rentals (URI) reported overnight higher Q1 adjusted earnings and revenue and lifted its 2026 sales guidance.Shares soared 21%, with intraday trading volume climbing over 925,500 from a daily average of about 656,000.West Pharmaceutical Services (WST) reported higher Q1 non-GAAP earnings and net sales on Thursday. The company also issued a Q2 outlook above analysts' expectations and raised its 2026 guidance.Shares climbed 12% as intraday trading volume jumped to over 1.47 million from a daily average of about 944,000.Price: $281.28, Change: $+44.97, Percent Change: +19.03%

$TXN$URI$WST

Wire151d ago

Grace Therapeutics Gets FDA Complete Response Letter for GTx-104

Grace Therapeutics (GRCE) said the US Food and Drug Administration issued a complete response letter for its new drug application for GTx-104, an intravenous formulation of nimodipine for aneurysmal subarachnoid hemorrhage.The FDA cited outstanding items in the chemistry, manufacturing and controls and nonclinical sections of the filing, which can be addressed in a resubmission, Grace said Thursday in a statement. The agency did not request additional clinical data, the company said.Grace plans to request a Type A meeting with the FDA to determine the next steps, the company said.Price: $4.29, Change: $-0.02, Percent Change: -0.46%

$GRCE

Wire151d ago

Meta Plans to Cut 10% of Workforce, Bloomberg Reports

$META

Wire151d ago

Norfolk Southern Keeps Quarterly Dividend at $1.35 per Share, Payable May 20 to Holders of Record May 8

$NSC

Wire151d ago

Regeneron Says FDA Granted Accelerated Approval for Genetic Hearing Loss Therapy

Regeneron (REGN) said Thursday that the US Food and Drug Administration has granted accelerated approval for Otarmeni therapy indicated for the treatment of pediatric and adult patients with OTOF gene-related hearing loss.FDA's approval was based on the ongoing Chord trial that showed 16 of 20 participants experienced hearing improvements per pure tone audiometry assessments, while 14 out of 20 demonstrated an auditory brainstem response, according to a statement.Otarmeni's continued approval may be contingent upon verification and description of clinical benefit in the confirmatory portion of the Chord trial, Regeneron said.The company said it will provide Otarmeni at no cost to clinically eligible individuals in the US.Shares of the company were up 2% in Thursday trading.Price: $761.47, Change: $+14.89, Percent Change: +1.99%

$REGN

Wire151d ago

Alphabet's Gemini Progress Seen Boosting Search and Cloud in Q1, BofA Says

Alphabet's (GOOG/GOOGL) progress integrating its Gemini AI models could lift Q1 results, with potential gains in both search and cloud as advertisers benefit from better targeting and efficiency, BofA Securities said Wednesday in a report.BofA expects Q1 EPS of $2.69 on revenue of $92 billion and sees Q2 EPS of $2.80 on revenue of $98.3 billion. The firm said search growth picked up during the quarter, while cloud revenue is expected to rise 49% from a year earlier.Alphabet is positioned for strong growth and improving cloud margins as it rolls out new AI models, custom silicon, and broader consumer and enterprise distribution, BofA said.E-commerce spending likely accelerated in Q1, and BofA's checks suggest no major disruptions to ad budgets despite geopolitical uncertainty, the report said.BofA reiterated its buy rating on Alphabet stock with a price target of $370.Q1 results are due Wednesday.Price: $337.46, Change: $-0.27, Percent Change: -0.08%

$GOOG$GOOGL

Wire151d ago

CSX Raises Growth, Margin Targets Under CEO Angel, BofA Says

CSX (CSX) CEO Steve Angel has accelerated service improvements, raised financial targets, and streamlined the cost structure since taking over in September 2025, which is benefiting the company, BofA Securities said Thursday.The company now targets mid-single-digit revenue growth, up from low-single digits, and sees its operating margin gains at the high end of its 200-300 basis points improvement target range. BofA also raised its revenue growth estimate to 4.2% from 1.6%, according to the note.BofA said CSX sees fuel surcharges supporting revenue growth into the mid-single-digit range. Cost controls, particularly in Purchased Services & Other, highlight Angel's strategy of building sustainable long-term productivity gains.The investment firm raised its 2026 EPS estimate to $1.90 from $1.80 and its 2027 EPS estimate to $2.15 from $2.10.BofA maintained a buy rating on CSX and lifted the price objective to $49 from $46.Shares of CSX were up 7.6% in Thursday trading.Price: $46.47, Change: $+3.29, Percent Change: +7.61%

$CSX

Wire151d ago

Knight-Swift Likely to Benefit From Tightening Truckload Market, UBS Says

Knight-Swift Transportation (KNX) is expected to benefit from a stronger-than-anticipated truckload pricing environment, UBS Securities said in a report Thursday."The step up in KNX's expectation for contract rates from aprior view of low single to mid single digits to a new range of high single to low double digits was a larger move up than we expected," the report said.The note said KNX is on track to realize some 10% contract rate increases in the bid season, translating to an about 6% realized pricing for full year 2026, based on the 20% rise in Q1 spot rates and broker commentary of contract rates in March."We believe it is early in the truckload pricing cycle and there is attractive runway for KNX stock," the report said.UBS raised its price target to $79 from $66 and kept its buy call.Price: $66.97, Change: $+2.99, Percent Change: +4.67%

$KNX

Wire151d ago

Accenture Invests in AI Infrastructure Firm Iridius

Accenture (ACN) said Thursday it has invested in Iridius, an enterprise artificial intelligence infrastructure company designing compliant solutions for regulated industries, including life sciences.Financial terms of the investment were not disclosed.The companies also entered into a partnership to build end-to-end compliance workflows across the pharmaceutical value chain to scale AI adoption, Accenture said.The collaboration aims to accelerate clinical timelines and reduce manual compliance work by integrating Iridius' regulatory technology into enterprise operations, Accenture added.Shares of the company were down about 6.8% in Thursday trading.Price: $177.00, Change: $-13.11, Percent Change: -6.89%

$ACN

Wire151d ago

Amazon AWS Growth Set to Outpace Street on AI Demand, UBS Says

Amazon.com's (AMZN) Amazon Web Services growth is expected to continue to be "nonlinear," supported by incremental investments and deals with both OpenAI and Anthropic that are expected to add nearly $200 billion in backlog and accelerate long-term capacity expansion, UBS Securities said in a note Thursday.The brokerage said it differs meaningfully from the Street on AWS revenue for 2026, at 38% compared to the Street consensus of 26%, which then compounds into 2027 as additional capacity comes online and backlog converts into revenue.UBS added that its 2027 operating income estimate is hence nearly 39% above consensus. The brokerage believes that the Street will eventually converge toward its more bullish trajectory as AWS scale and demand visibility improve.Although Amazon shares have rebounded significantly year-to-date, UBS thinks there is still room to outperform. The investment firm believes a premium asset like Amazon should not trade at a discount to the market multiple given its long-term AWS and AI-driven growth profile.UBS has a buy rating on Amazon and raised the price target to $304 from $301.Price: $256.63, Change: $+1.26, Percent Change: +0.50%

$AMZN

Wire151d ago

Vertiv's Long-Term Growth Story Continues With Q1 Earnings Beat, Guidance Raise, RBC Says

Vertiv's (VRT) long-term growth story continues as it posted a "high-quality" Q1 earnings beat and raised guidance, RBC Capital Markets said in a Wednesday note.AI infrastructure demand from hyperscalers, colocation data centers, and new cloud players continue to fuel Vertiv's growth, as shown with US sales up 44% organically and a growing project pipeline, RBC analysts said.Even amid tariffs and headwinds related to capacity growth, the company surprisingly lifted its full-year earnings before interest and taxes margin guidance, the analysts said. They said they appreciated Vertiv's pricing power, driven by strong demand and pre-built integrated data center white space and construction services.The analysts believe that the company has the ample flexibility to invest in capacity expansions, new products such as 800V technology, and bolt-on acquisitions.RBC increased its 2026 EPS estimates for Vertiv to $6.40 from $6.15, and 2027 EPS estimates to $8.60 from $8.30.RBC reiterated the company's stock rating at outperform and raised the price target to $356 from $344.Price: $321.99, Change: $+16.85, Percent Change: +5.52%

$VRT

Wire151d ago

CSX Positioned for Further Revenue and Margin Growth, RBC Says

CSX (CSX) has more room to grow revenue and margins as rail demand improves and cost controls hold, RBC Capital Markets said Wednesday in a report.The company's Q1 earnings topped expectations, helped by stronger underlying margins and a land sale, RBC said. Excluding the sale, the operating ratio improved, pointing to cost performance that could carry through the year, the report said.Management raised its 2026 revenue outlook to the mid-single-digit range, driven largely by higher fuel-surcharge revenue, the report said. Improving volume trends were not included in the higher guidance, leaving room for upside, especially with CSX's 600-project pipeline and more than 20 projects already placed into service in Q1, RBC said.CSX is now aiming for the high end of its 200- to 300-basis-point margin improvement range, with additional room for operating-ratio gains if recent cost trends continue, the report said. RBC lifted its 2026 EPS estimate to $1.90 from $1.84 and raised its 2027 estimate to $2.11 from $2.06.RBC increased its price target on CSX stock to $47 from $43 and maintained its outperform rating.Price: $46.22, Change: $+3.04, Percent Change: +7.04%

$CSX

Wire151d ago

Update: Morgan Stanley Lifts Price Target on Boeing to $250 From $245, Keeps Equalweight Rating

(Updated to include Morgan Stanley's commentary)Morgan Stanley raised its price target on Boeing (BA) to $250 from $245 following the jet maker's better-than-expected Q1 results, with management guiding to positive free cash flow in the second half of the year.The brokerage highlighted the company's progress in Commercial Airplanes, with positive news on production for the 737 and 787. It sees a positive operational trajectory, but think these impacts are largely priced in and, therefore, maintained its Equal Weight rating.Boeing has an average rating of overweight and mean price target of $267.68, according to analysts polled by FactSet.Price: $233.59, Change: $+2.31, Percent Change: +1.00%

$BA

Wire151d ago

Market Chatter: Regeneron Reaches Drug Pricing Deal, Gains US Nod for Rare Deafness Therapy

Regeneron Pharmaceuticals (REGN) has struck an agreement with the Trump administration to reduce drug costs for certain Americans and has secured approval for a gene therapy to treat a rare form of deafness, Bloomberg reported on Thursday, citing a person familiar with the matter.Regeneron was the last company asked by Trump to align US costs with those in other developed countries under a most favored nations policy.The administration has pressured major pharmaceutical firms to sign pricing agreements to offer discounted prices or align costs with international markets, in exchange for incentives such as tariff exemptions.According to the report, the Food and Drug Administration is expected to authorize the treatment for an ultra-rare inherited hearing-loss condition caused by a genetic mutation.(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: $763.89, Change: $+17.31, Percent Change: +2.32%

$REGN

Wire151d ago

Rogers Communications' CapEx Cuts to Drive Organic De-levering, RBC Capital Markets Says

Rogers Communications' (RCI) capital expenditure reduction continues to support organic de-levering, which management targets to improve by 40 to 50 basis points over the next four years, RBC Capital Markets said in a note Tuesday.The company lowered its 2026 capex guidance to between 2.5 billion Canadian dollars ($1.83 billion) and CA$2.7 billion, from CA$3.3 billion to CA$3.5 billion previously, pushing free cash flow guidance higher to between CA$4.1 billion and CA$4.3 billion, from CA$3.3 billion to CA$3.5 billion, the brokerage said.RBC said Rogers Communications' management intended to allocate the incremental annual free cash flow of about CA$800 million to debt repayment. The investment firm also noted that the capex cuts are planned to be sustained as the company moves to prioritize critical investments across its networks.RBC Capital Markets raised its price target on Rogers Communications to CA$63 from CA$61, with an outperform rating.Price: $36.96, Change: $-0.52, Percent Change: -1.39%

$RCI

Wire151d ago

IBM Sees 'Solid' Start to 2026 With Q1 Topline Outperformance Coming From Infrastructure, RBC Says

IBM (IBM) saw a "solid" start to the year overall with topline outperformance in Q1 coming from its infrastructure segment, while consulting was in-line with consensus, RBC Capital Markets said in a Wednesday research note.IBM's software segment will be the main driver of 2026 revenue, aided by the company's Confluent acquisition closing about 2 months early, which RBC estimated equates to about $200 million.The company remains on track for an additional $1 billion in productivity savings in 2026, the analysts said, adding that IBM's AI-based software development system "Bob" and advancements in quantum development are key areas to watch throughout the year.IBM's expectation to add about $1 billion in free cash flow in 2026 could prove to be conservative given the company's strong start and ongoing cost saving initiatives, RBC added.RBC maintained its outperform rating with a $330 price target.Price: $229.44, Change: $-22.42, Percent Change: -8.90%

$IBM

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