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Deutsche Bank Downgrades Apogee Therapeutics to Hold From Buy, Adjusts Price Target to $135 From $116

Apogee Therapeutics (APGE) has an average rating of overweight and mean price target of $130.72, 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)

$APGE

Research38d ago

Deutsche Bank Initiates Coverage on Insulet With Buy Rating, $190 Price Target

Insulet (PODD) has an average rating of Buy and mean price target of $238.79, 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)

$PODD

Research38d ago

Deutsche Bank Initiates Coverage on Tandem Diabetes Care With Hold Rating, $15.50 Price Target

Tandem Diabetes Care (TNDM) has an average rating of overweight and mean price target of $29.08, 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)

$TNDM

Research38d ago

Primaris REIT Price Target Raised to $25 at CIBC

CIBC Capital Markets raised its price target on Primaris REIT (PMZ-UN.TO) to C$25 from C$22.Analyst Tal Woolley maintained an Outperformer rating on shares of the Canadian shopping center-focused real estate company."We believe the outlook for PMZ can continue to improve in a Canadian retail environment with a lack of traditional department store anchor tenants," Woolley said in a note to clients."We also expect PMZ to soon offer another positive leasing update on its 1.3 million square feet of vacant anchor space," the analyst said.CIBC's estimate of the company's return on invested capital average 7.4% over the next two years. That's "well ahead of the balance of our REIT coverage (averaging 5.8%), delivering higher returns needed for the higher operating risk with enclosed mall assets (with its discretionary spending exposure and higher capital intensity)," Woolley said.(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)

$PMZ-UN.TO

Commodities38d ago

Canadian Province Alberta Seeks to Become Bigger Oil Supplier to Japan

Canada's main oil-producing province, Alberta, is in discussions with Japan about potentially sending more crude oil to the Asian country to diversify its supply away from the Middle East in light of the disruption caused by the Iran war, Reuters reported on Monday.Alberta's Energy Ministry Brian Jean told Reuters in an interview that the province has offered to help fund construction of a coker unit so that one or several Japanese companies can process heavy crude extracted from Alberta's oil sands.The province is also looking into the idea of mixing Alberta heavy crude with a lighter, synthetic oil to produce a blend that fits the needs of Japanese refineries more closely, Jean said, days after his return from face-to-face talks with government officials and energy executives in Japan.Japan obtains about 95% of its crude oil from the Middle East, Reuters said, leaving it fully exposed when conflict erupted and Iran closed for more than three months the sole waterway to exit the Persian Gulf with energy cargoes.

US Markets38d ago

Stock Futures Down as Tech Sell-Off Weighs on Sentiment

US equity futures were tracking in the red on Tuesday amid a broader tech sell-off despite signs of easing tensions between the US and Iran.The S&P 500 declined 1.4%, the Dow Jones Industrial Average was off 0.7% and the Nasdaq dropped 2.3% in premarket activity. The indexes finished the previous trading session mixed, with the Nasdaq closing the day down 1.3%.Shares of several major technology companies, including Alphabet (GOOG, GOOGL), Amazon (AMZN) and Meta Platforms (META), were down pre-bell, after closing the previous session in the red. SpaceX (SPCX) fell 3.7% following a 16% fall at the end of the previous session.Super Micro Computer (SMCI) fell about 5%, reversing a 16% gain on Monday.The sell-off is driven by concerns over AI valuations, with South Korean memory chipmakers SK Hynix and Samsung Electronics also falling sharply, CNBC reported."Clearly this will cause selling pressure and white knuckles for tech stocks in the US this morning as investors worry the overheated (Korea Composite Stock Price Index) sell-off has a spillover impact to US tech stocks," Wedbush Securities said in a Tuesday client note.Treasury yields declined in premarket action, with the two-year rate retreating 4.2 basis points to 4.19% and the 10-year rate sliding 2.2 basis points to 4.49%.The US Treasury on Monday issued a broad 60-day exemption allowing Iran to produce and sell crude oil, petrochemical and petroleum products in US dollars, effectively easing key sanctions restrictions, CNBC reported.West Texas Intermediate crude oil slipped 0.5% to $73.49 a barrel before the opening bell, while Brent decreased 0.7% to $77.38.US Vice President JD Vance reportedly said Monday that Iran agreed to admit International Atomic Energy Agency inspectors into the country. On the status of the Strait of Hormuz, Vance said the crucial waterway is open, and negotiations with Iran are focused on setting up a "coordination mechanism" for demining and resuming trade, CNN reported.Tuesday's economic calendar has the S&P Global's (SPGI) flash purchasing managers' index for June at 9:45 am ET, followed by the Federal Reserve Bank of Richmond manufacturing index for the same month at 10 am.Parcel delivery giant FedEx (FDX) is scheduled to report its latest financial results after the markets close, along with KB Home (KBH). Carnival (CCL) and Korn Ferry (KFY) post earnings before the bell, among others.Gold fell 1.4% to $4,145 per troy ounce, while bitcoin dropped 3.1% to $62,354.

Dow JonesNasdaq CompositeS&P 500$AMZN$CCL$FDX$GOOG$GOOGL$IBM$KBH$KFY$META$SMCI$SPCX

Asia38d ago

Ascletis Pharma Gets US FDA Nod for Obesity Drug Trial

Ascletis Pharma (HKG:1672) obtained investigational new drug clearance from the U.S. Food and Drug Administration (FDA) for the phase I study of ASC3, according to a Tuesday Hong Kong bourse filing.The drug is being tested for the treatment of obesity.

HKG:1672

Treasury38d ago

Canadian Dollar Weakens as Yield Spread Widens, Bank of Canada Seen on Hold, Says SocGen

The Canadian dollar weakened versus its US counterpart, driven by widening interest rate differentials, Societe Generale Economics said in a note on Tuesday.A larger gap between two-year U.S. Treasury and Canadian government bond yields pushed the U.S. dollar higher against the Canadian currency, with the exchange rate up to a 14-month high of almost $1.42, wrote the bank in its note.Markets showed little reaction to Canada's higher-than-expected May consumer price index print that was released on Monday, which saw annual headline inflation at 3.2% and core inflation remaining "well behaved" at 1.6%, said SocGen.The Bank of Canada is seen keeping rates on hold for the "foreseeable future," according to SocGen.

$CAD$CXY$USD

Equities38d ago

Sky Quarry Nears Start of Nevada Refinery Operations, Targets July Launch

Sky Quarry (SKYQ) said that it is nearing the start of operations at its Foreland Refinery in Ely, Nevada, marking a transition from infrastructure development to production and cash-flow generation.Interim CEO Marcus Laun said Monday the facility is in the final stages of preparation and is expected to begin refinery operations in July. He added that recent upgrades include storage capacity of more than 100,000 barrels and around 10,000 barrels of crude and in-process inventory already on site.Sky Quarry said it aims to benefit from refining margins rather than crude price movements alone as operations scale.Sky Quarry shares were down by more than 11% during Tuesday's premarket session.

$SKYQ

Commodities38d ago

Sabanci Renewables Signs Power Purchase Deal With Meta for 2 Solar Projects in Texas

Sabanci Renewables, the US renewable energy platform of Turkey's Sabanci Holdings, has finalized a long-term power purchase agreement with Meta Platforms (META) for two solar projects in Texas, totaling 220 megawatts, it said on Monday.Under the agreement, Meta will acquire 100% of the power generated by the 100-MW Lucky 7 Solar and 120-MW Pepper Solar projects in the state.Sabanci said it expects both projects to be completed in H2 2027.The deal is part of Meta's strategy to support data center operations with renewable energy.

$META

Research38d ago

Deutsche Bank Initiates Coverage on DexCom With Buy Rating, $86 Price Target

DexCom (DXCM) has an average rating of Buy and mean price target of $85.88, 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)

$DXCM

Research38d ago

Citigroup Downgrades Sabra Health Care REIT to Neutral From Buy, Cuts Price Target to $19 From $24

Sabra Health Care REIT (SBRA) has an average rating of overweight and mean price target of $22.15, 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)

$SBRA

International38d ago

Tech Selloff Blunts Wall Street Pre-Bell; Asia, Europe Down

Wall Street futures sagged pre-bell Tuesday as traders went risk-off, and backed away from rich valuations on tech- and AI-sector shares.In the futures, the S&P 500 fell 1.4%, the Nasdaq declined 2.8% and the Dow Jones was off 0.5%.The VanEck Semiconductor exchange-traded fund (SMH) traded down 5.5% pre-bell.After declining 16.4% on Monday, Elon Musk's rocket-and-satellite enterprise SpaceX (SPCX) traded down 3% in pre-bell action.On the economics front, investors also await the S&P Global flash US purchasing manager index report for June, slated for release at 9:45 am ET. The Richmond Fed Manufacturing Index for June is due at 10 am ET.Asian exchanges traded lower overnight, including a 10% retreat on Seoul's KOSPI index, as semiconductor issues fell back.European bourses tracked moderately lower at midday on the continent.On the earnings scene, economic bellwether FedEx (FDX) reports quarterly results after the closing bell.In pre-market action, Bitcoin traded at $62,219, West Texas Intermediate crude oil traded evenly at $73.89, and 10-year US Treasuries offered 4.49%. Spot gold commanded $4,129 an ounce.

Dow JonesNasdaq CompositeS&P 500

Research38d ago

Deutsche Bank Initiates Coverage on Smurfit Westrock With Buy Rating, $57 Price Target

Smurfit Westrock (SW) has an average rating of Buy and mean price target of $53.77, 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)

$SW

Research38d ago

Citigroup Upgrades American Healthcare REIT to Buy From Neutral, Price Target is $55

American Healthcare REIT (AHR) has an average rating of buy and mean price target of $58.23, 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)

$AHR

Equities38d ago

Energy Fuels to Acquire Vacuumschmelze, Associated Firms From Ara Partners for $1.9 Billion

Energy Fuels (UUUU) has agreed to acquire Germany's Vaccumschmelze and associated business and subsidiaries from Ara Partners for $1.9 billion in cash and stock, the company said Tuesday.The deal consists of $718 million in cash and 65.9 million newly issued Energy Fuels shares, the company said.Vacuumschmelze is a magnetics company which also operates a facility in South Carolina, with capacity to produce 2,000 metric tons of permanent magnets per year, the company said.Following completion of the deal, Vacuumschmelze will become a wholly owned subsidiary of Energy Fuels while retaining its branding and German headquarters, the company said.The deal is expected to be accretive to Energy Fuels' earnings and cash flow, the company said.

$UUUU

Mining & Metals38d ago

Atlas Salt's CFO Jeff Kilborn Resigns

Atlas Salt's (SALT.V) chief financial officer Jeff Kilborn resigned for personal reasons, the company said after markets closed on Monday.The company said it has started a process to identify a new CFO.

$SALT.V

Mining & Metals38d ago

GFL Environmental Prices Private Offering of Senior Notes

GFL Environmental (GFL.TO, GFL) priced its US$750 million senior notes due 2031, with a coupon of 5.625% or about 4.500% after giving effect to cross currency interest rate swaps the company intends to enter into, it said in a statement on Tuesday.The notes will be issued by a U.S. wholly owned unit of GFL and will be guaranteed by GFL and certain of its other units.Proceeds are to be used to repay amounts drawn on its revolving credit facility and to fund fees and expenses, "with a view to maximizing its available liquidity to fund a portion of the cash consideration, transaction costs and expenses for the previously announced acquisition" of SECURE Waste Infrastructure Corp. (SES.TO) and other growth initiatives, it said.U.S.-listed shares of the company were last seen up 0.1% at US$35.05 in pre-market trading.

$GFL.TO$SES.TO

Research38d ago

Cantor Fitzgerald Initiates Quince Therapeutics at Overweight With $4 Price Target

$QNCX

Research38d ago

Raymond James Initiates Nicolet Bankshares at Market Perform

Nicolet Bankshares (NIC) has an average rating of overweight and mean price target of $174.20, 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)

$NIC

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