Financial News · Live Terminal

Page 1078 of 3131

KeyBanc Downgrades Roku to Sector Weight From Overweight

Roku (ROKU) has an average rating of buy and mean price target of $151.96, 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: $141.60, Change: $-2.06, Percent Change: -1.43%

$ROKU

Treasury43d ago

Great-West Lifeco Announces $150 Million Preferred Share Offering

Great-West Lifeco (GWO.TO) on Monday said it intends to raise $150 million through a preferred share offering.The company will issue 6.0-million non-cumulative first preferred shares, series 24, at $25.00 apiece. The shares will yield 5.70% per year.The underwriters have also been granted an over-allotment option of up to an additional 2.0-million series 24 shares at the same price. If this option is exercised in full, the total process of the offering will be $200 million, a statement said.Proceeds will be used for general corporate purposes. The offering is expected to close on June 22.Great-West shares were last seen up $1.13, to $84.52, on the Toronto Stock Exchange.Price: $84.53, Change: $+1.14, Percent Change: +1.37%

$GWO.TO

Wire43d ago

Mizuho Securities Lifts Price Target on Amgen to $303 From $295, Keeps Outperform Rating

Amgen (AMGN) has an average rating of overweight and mean price target of $356.59, 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: $352.73, Change: $-2.47, Percent Change: -0.70%

$AMGN

Sectors43d ago

Sector Update: Energy Stocks Fall Monday Afternoon

Energy stocks were lower Monday afternoon, with the NYSE Energy Sector Index and the State Street Energy Select Sector SPDR ETF (XLE) each dropping about 3.2%.The Philadelphia Oil Service Sector Index was down 2.4%, and the Dow Jones US Utilities Index rose 1%.The US and Iran have reached an agreement to end their war and reopen the crucial Strait of Hormuz after more than three months of conflict that disrupted regional stability and global shipping routes. "The deal with the Islamic Republic of Iran is now complete," President Donald Trump said in a social media post on Sunday. "I hereby fully authorize the toll free opening of the Strait of Hormuz, and, simultaneously herewith, authorize the immediate removal of the US Naval blockade."Front-month West Texas Intermediate crude oil fell 5.1% to $80.55 a barrel, and the global benchmark Brent crude contract dropped 4.7% to $83.24 a barrel. Henry Hub natural gas futures rose 0.5% to $3.14 per 1 million BTU.In corporate news, Peabody Energy (BTU) said Monday it terminated its amended 2020 transaction support agreement with surety providers and entered into standard indemnification agreements to support its US mine reclamation obligations. Peabody Energy shares were down 4.9%.Shell's (SHEL) Sprng Energy Indian renewable power business could be acquired by Aditya Birla Group, which has emerged as the frontrunner for the unit, Bloomberg reported. Shell shares were shedding 3.4%.The European Commission said it has approved a joint venture between TotalEnergies (TTE) and Masdar focused on renewable energy projects in the Asia-Pacific region. TotalEnergies shares fell 4.3%.

$BTU$SHEL$TTE

Oil & Energy43d ago

US Natural Gas Update: Midday Futures Climb into Positive Territory

US natural gas futures erased early losses and turned higher in midday trading on Monday despite bearish weather forecasts and progress in peace negotiations in the Middle East.The front-month Henry Hub contract and the continuous contract were both up 0.51% at $3.136 per million British thermal units.Prices had earlier fallen to their lowest level in nearly three weeks, pressured by a broad decline across global energy markets following a peace agreement reached between the US and Iran over the weekend.US President Donald Trump said Washington would lift its naval blockade of Iranian ports and that the Strait of Hormuz, a key transit route for roughly one-fifth of global oil and liquefied natural gas supplies, would reopen once the agreement is formally signed on June 19.Bearish weather forecasts also weighed on prices in early trading, according to Gary Cunningham of Tradition Energy.However, longer-term fundamentals provided some support. Aegis Hedging said summer gas prices continued to find backing from expectations that weather conditions in 2026 could resemble those seen in 2023, when wind generation was weak, and temperatures were elevated.The firm added that the Electric Reliability Council of Texas has forecast a potential peak electricity demand of 90.4 gigawatts this summer, nearly 5 GW above the current record.Cunningham also pointed to the potential impact of lower crude prices on associated gas production."Production outlooks for associated gas will be trimmed lower as oil prices fall to ~$80/bbl, which will give us some support from a freefall," Cunningham said. "But after a slim inject report this week we could see a couple of bearish numbers push our storage surplus back to a healthy level."

Wire43d ago

DA Davidson Raises TripAdvisor Price Target to $15.50 From $10.50, Neutral Rating Kept

TripAdvisor (TRIP) has an average rating of hold and mean price target of $12.67, 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: $13.15, Change: $+0.73, Percent Change: +5.92%

$TRIP

Sectors43d ago

Sector Update: Healthcare Stocks Softer Monday Afternoon

Healthcare stocks declined Monday afternoon with the NYSE Healthcare Index dropping 0.7% and the State Street Health Care Select Sector SPDR ETF (XLV) shedding 0.5%.The iShares Biotechnology ETF (IBB) rose 0.5%.In sector news, the Centers for Medicare & Medicaid Services proposed a rule to establish a permanent regulatory framework for the Medicare Drug Price Negotiation Program beginning with the 2029 price-applicability year, shifting to codified regulations from implementation through annual guidance.In corporate news, Neumora Therapeutics (NMRA) shares tumbled 52% after the company halted development of its major depressive disorder treatment navacaprant after two Phase 3 trials failed to meet their primary and key secondary endpoints. Neumora also announced it will reduce its workforce by 35%.Elicio Therapeutics (ELTX) shares plunged 72% after the company said a Phase 2 study assessing the experimental pancreatic cancer therapy ELI-002 7p did not meet the prespecified primary endpoint of disease-free survival.Cuprina Holdings (CUPR) shares more than doubled after a subsidiary obtained 510(k) clearance from the US Food and Drug Administration for its Medifly Maggots product that uses Lucilia cuprina larvae in maggot debridement therapy.

$CUPR$ELTX$NMRA

Asia Markets43d ago

Update: US Equity Indexes Soar, Crude Oil Sinks as Interim Deal Agreed to End Iran War

(Updates with index/price moves, macroeconomic data, and political/company news from the first paragraph.)US equity indexes jumped while crude oil and government bond yields slumped after the US and Iran reached a framework agreement to end the war in the Middle East.The Nasdaq Composite surged 3% to 26,669.5, with the S&P 500 up 1.9% to 7,571.2, and the Dow Jones Industrial Average higher by 1.4% to 51,920.8 after midday Monday. Technology, communication services, and consumer discretionary led the gainers, while energy was the standout decliner.Iran's Supreme National Security Council confirmed on Sunday that a memorandum of understanding had been reached, with military operations on all fronts set to cease immediately. No text of the MoU has been released, and the duo has offered conflicting accounts of what will follow a signing ceremony in Switzerland on Friday, CNN reported.The peace deal will end the US blockade of Iranian ports and reopen the Strait of Hormuz, according to multiple media reports. Iran's Foreign Ministry spokesman, Esmail Baghaei, said the ceasefire in Lebanon - one of Iran's preconditions for a negotiated settlement - has been observed in the memorandum of understanding, Al Jazeera reported.Israel's defense minister said Monday that the country wouldn't withdraw from land seized in Lebanon, where Israel is fighting the Iranian-backed Hezbollah militant group, according to a report from the Associated Press.If Iran abides by its commitments to reopen the Strait of Hormuz and not develop a nuclear weapon, then it will be "reinvited into the world economy," and US sanctions in the region will be loosened, a Stifel note cited US Vice President JD Vance as saying on CNBC on Monday.Crude oil futures slumped. Front-month global benchmark North Sea Brent slumped 4.3% to $80.61 per barrel, and US West Texas Intermediate slid 4.1% to $83.28 per barrel."Whether prices, currently around $13 above pre-war levels, can fall further will depend on several factors, including the pace at which commercial and strategic stockpiles are replenished, how quickly shut-in production can be brought back online, and the extent of any lasting demand destruction caused by a prolonged period of elevated energy prices," Saxo Bank said in a note.Most US Treasury yields fell, with the 10-year down 1.6 basis points to 4.47% and the two-year lower by 2.5 basis points to 4.06%.In precious metals, gold futures jumped 2.8% to $4,355.51, while silver futures climbed 3.3% to $70.22.In company news, Fox (FOX, FOXA) agreed to acquire Roku (ROKU) in a cash-and-stock deal that values the TV streaming platform at about $22 billion, creating a media and technology entity with one of the largest streaming businesses in the US. Shares of Fox slumped 16%, the worst performer on the S&P 500 and the Nasdaq.In economic news, industrial production rose by 0.1% in May, compared with expectations for a larger 0.3% increase in a Bloomberg-compiled survey, and following an upwardly revised 0.9% increase in April.The National Association of Home Builders' monthly housing market index fell to 35 in June from a revised 37 in May, compared with expectations for a 37 print in a Bloomberg-compiled poll. The index was still above 32, as reported a year earlier.The New York Federal Reserve's Empire State manufacturing index fell to 5.7 in June from 19.6 in May, compared with a smaller expected decrease to 13.5 in a survey compiled by Bloomberg. The Empire State index is the first manufacturing sector reading for June and suggests a slower pace of expansion.

Dow JonesNasdaq CompositeS&P 500$FOX$FOXA$ROKU

US Markets43d ago

Fed Dot Plot May Signal No Rate Cut Until 2028, UBS Says

The Federal Reserve's so-called "dot plot" later this week may signal no interest rate cuts until 2028, said UBS Securities, which flagged the possibility of a tighter monetary policy amid the energy price shock stemming from the Middle East conflict.The Federal Open Market Committee kicks off its two-day policy meeting Tuesday. Markets widely expect policymakers to leave their benchmark lending rate unchanged Wednesday, which would mark their fourth consecutive pause, according to the CME FedWatch tool.The Fed is also scheduled to publish its latest Summary of Economic Projections, or SEP, document Wednesday. The SEP includes the so-called dot plot, which anonymously shows 19 individual members' expectations regarding monetary policy. The document also contains estimates on economic growth, inflation and unemployment."We expect the assumptions of appropriate policy in the updated (SEP) show the median participant assumes no rate cuts are appropriate until 2028," UBS economists, including Jonathan Pingle, said in a note e-mailed Monday. "We expect the SEP to show a rate cut in 2028, but policy remains restrictive."The SEP is also expected to show upward revisions to policymakers' inflation outlook, according to the note to clients.Under its base case, UBS expects the FOMC to remain on a "prolonged hold," though it may need to increase interest rates."We have been saying since early March the energy price increase and potential supply disruptions (amid the US/Israel war with Iran) widened the potential outcomes for the future path of the funds rate, including rate hikes," Pingle said.UBS outlined three reasons why the FOMC might tighten monetary policy. These include a scenario where inflation expectations look unanchored, or if policymakers want to better align aggregate demand with supply. The third reason is risk management."If inflation in the second half of the year does not show signs of slower monthly changes, the FOMC risks a bigger inflation problem," Pingle wrote. "They may need to reposition policy to better address the risks to the outlook."The upcoming meeting will be Kevin Warsh's first as Fed chair, who assumed the role last month, replacing Jerome Powell."We do not know (Warsh's) policy view with any confidence; we have a guess but we do not know for sure what his monetary policy reaction function might be," Pingle said. "Which Kevin Warsh steps up to the podium? Is he a hawk or dove? Both are potential risks to market pricing."The US and Iran have reached an agreement to end their war and reopen the crucial Strait of Hormuz after more than three months of conflict that disrupted regional stability and global shipping routes.

Sectors43d ago

Sector Update: Financial Stocks Advance in Afternoon Trading

Financial stocks were higher Monday afternoon trading, with the NYSE Financial Index rising 0.7% and the State Street Financial Select Sector SPDR ETF (XLF) ahead 1%.The Philadelphia Housing Index was climbing 1.6%, and the State Street Real Estate Select Sector SPDR ETF (XLRE) was shedding 0.5%.Bitcoin (BTC-USD) was increasing 4.8% to $66,834, and the yield for 10-year US Treasuries was down 1.8 basis points at 4.47%.In economic news, US industrial production increased less than estimated in May as nondurable manufacturing fell, while mining output increased, Federal Reserve data showed Monday. Industrial output inched up 0.1% last month following a 0.9% rise in April, the Fed said. The consensus was for a 0.3% increase in a survey compiled by Bloomberg.US homebuilder confidence declined this month as rising material costs and high mortgage rates stoked affordability concerns, the National Association of Home Builders and Wells Fargo said Monday. The housing market index, which covers new single-family homes, fell two points sequentially to 35 in June, compared to a 37 reading in a survey compiled by Bloomberg.In corporate news, Payoneer (PAYO) agreed to be acquired by Canada's Nuvei in an all-cash deal valued at about $2.75 billion. Payoneer shares gained 4%.Truist Financial (TFC) on Monday named Michael P. Lyons as its next president and chief executive officer, starting Sept. 1. Lyons, who most recently served as CEO of Fiserv (FISV), will succeed Bill Rogers at Truist. Rogers will become executive chair on Lyons' start date, Truist said. Truist shares were down 4.3%, and Fiserv fell 10%.Runway Growth Finance (RWAY) shares fell 5.6% after BofA Securities downgraded the company to underperform from neutral.

$FISV$PAYO$RWAY$TFC

Research43d ago

Jefferies Downgrades Roku to Hold From Buy, $160 Price Target

$ROKU

Sectors43d ago

Sector Update: Tech Stocks Gain Monday Afternoon

Tech stocks jumped Monday afternoon with the State Street Technology Select Sector SPDR ETF (XLK) rising 3.7% and the State Street SPDR S&P Semiconductor ETF (XSD) adding 4.1%.The Philadelphia Semiconductor Index surged 5.1%.In corporate news, Space Exploration Technologies (SPCX) revenue may surpass $1 trillion by 2031, CEO Elon Musk said Sunday on X. SpaceX shares jumped 14%.Micron Technology (MU) has room for its memory-chip upcycle to continue for another five to six quarters, supported by stronger pricing, robust generative AI demand and limited industry supply growth, RBC Capital Markets said, boosting its price target on the stock. Micron jumped 9.6%.Salesforce (CRM) agreed to acquire customer-agent company Fin for $3.6 billion to strengthen its own Agentforce AI-powered agent platform. Salesforce shares rose 0.1%.

$CRM$MU$SPCX

Mining & Metals43d ago

Goldgroup Mining Closes Its Acquisition of the San Francisco Gold Mine in Mexico

Goldgroup Mining (GGA.V) on Monday said it closed the acquisition of Molimentales del Noroeste, S.A. de C.V. through a Concurso Mercantil process, giving it control of the past-producing San Francisco gold mine in Mexico.The structure of the "plan of arrangement" allowed the company to receive ownership of Molimentales, the San Francisco Mine and its associated assets, including mining concessions, processing plants, and related infrastructure, free and clear of all liens and liabilities. The San Francisco project is fully permitted for a rapid restart of mining operations and is comprised of two open pits together with heap leach processing facilities and associated infrastructure, it said."We intend to move quickly with infill drilling to tighten historic drill spacing, optimize the mine plan, and advance the project toward a potential restart of mining operations and gold production in late 2026 or early 2027," said Chief Executive Ralph Shearing.The company is also advancing the proposed business combination with Gold Resource Corporation (GORO) which holds a 100% interest in the producing Don David gold mine in Oaxaca, Mexico as well as the Back Forty gold/silver development project in Michigan.Shares of the company were last seen up $0.04 to $1.49 on the TSX Venture Exchange.Price: $1.49, Change: $+0.04, Percent Change: +2.76%

$GGA.V

Wire43d ago

Market Chatter: Microsoft Xbox Plans to Shut Down Compulsion Games

Microsoft (MSFT) gaming studio Compulsion Games, part of its Xbox Game Studios unit, is planning to shut down, video game news website Kotaku reported Monday, citing a source familiar with the matter.Kotaku said it was unclear how many employees would be affected, though multiple staff members have recently posted online that they are seeking work.Compulsion developed titles including South of Midnight and We Happy Few. The reported shutdown comes amid broader restructuring within Microsoft's gaming division and follows reports of expected layoffs. Studio leadership is currently in negotiations with Microsoft over the studio's fate.The studio's South of Midnight has received industry recognition, including a Peabody Award earlier this year.Xbox 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: $399.85, Change: $+9.11, Percent Change: +2.33%

$MSFT

Sectors43d ago

Sector Update: Consumer Stocks Mixed Monday Afternoon

Consumer stocks were mixed Monday afternoon, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) decreasing 0.2% and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) rising 1.9%.In corporate news, Fox (FOXA, FOX) agreed to acquire Roku (ROKU) in a cash-and-stock deal that values the TV streaming platform at about $22 billion. Roku shares declined 0.9%, and Fox Class A and Class B shares fell 16% and 15% respectively.Anheuser-Busch InBev (BUD) plans to invest over $20 million in its St. Louis and Arnold, Missouri, operations. Anheuser-Busch shares were down 1%.China's market regulator has ordered Walmart-owned (WMT) Sam's Club to strengthen food safety controls across its supply chain following the discovery of food safety issues, Reuters reported. The report said the State Administration for Market Regulation held talks with a Sam's Club executive and instructed the retailer to eliminate risks and safeguard consumer food safety. Walmart shares were decreasing 0.2%.

$BUD$FOX$FOXA$ROKU$WMT

US Markets43d ago

Builder Confidence Weakens Amid Rising Material Costs, High Mortgage Rates

US homebuilder confidence declined this month as rising material costs and high mortgage rates stoked affordability concerns, the National Association of Home Builders and Wells Fargo said Monday.The housing market index, which covers new single-family homes, fell two points sequentially to 35 in June, compared to a 37 reading in a survey compiled by Bloomberg."With the nation short about 1.2 million homes, builder sentiment will remain soft until barriers are eased and conditions improve for home building," NAHB Chairman Bill Owens said. "Congress can help by passing the major housing package now before the Senate, along with the CONSTRUCTS Act to address the construction labor shortage and the Energy Choice Act to prevent state and local bans on natural gas in new homes."Last week, government data showed annual inflation hit a three-year high in May, driven by higher energy prices in the aftermath of the Iran war.The US and Iran have agreed to end their war and reopen the critical Strait of Hormuz, but analysts pointed to potential implementation risks.The index gauging sales conditions decreased two points sequentially to 38 in June, the NAHB survey showed Monday. The measure charting future sales was unchanged at 45, while the prospective buyers index stayed at 25, according to the report.About 35% of homebuilders cut prices this month, compared with 32% in May. The average price reduction was 6% in June, flat from a month ago.The average interest rate for 30-year fixed mortgages with conforming loan balances of $832,750 or less climbed to 6.6% in the week ended June 5 from 6.57% a week earlier, the Mortgage Bankers Association said Wednesday. Mortgage applications in the US climbed 11% as both refinancing and purchase activity picked up."Costly and inefficient regulatory policy is clearly impeding the ability of builders to increase the housing supply," NAHB Chief Economist Robert Dietz said. "Easing permitting bottlenecks, density limits and inefficient zoning rules would help reduce costs and support the housing growth the nation needs."

Mining & Metals43d ago

Vital Infrastructure Property Trust Declares June Distribution

Vital Infrastructure Property Trust's (VITL-UN.TO) on Monday said trustees declared a distribution of $0.03 per unit for June, unchanged from the prior month, it said on Monday.The distribution will be payable on July 15 to unitholders of record on June 30.Price: $5.37, Change: $-0.06, Percent Change: -1.10%

$VITL-UN.TO

Treasury43d ago

Velan Closes the Sale of Its Controlling Shareholder's Interest to Birch Hill

Velan (VLN.TO), up 2.6% on last look, on Monday said it closed the sale by its controlling shareholder, Velan Holding, of its stake in the company to Birch Hill Equity Partners Management.Velan Holding sold its interest to Birch Hill at $13.10 per share, totalling $203.9 million, a statement said. With the acquisition, Birch Hill has a 72.1% stake in Velan shares and a 92.8% voting interest.The sale coincides with planned board and management changes at Velan. Former chief financial officer Rishi Sharma has been promoted to chief executive officer. Imran Gibbons, previously vice president, global financial planning and analysis, has been appointed chief financial officer.Ivan Velan, Peter Velan, Rob Velan, and Tom Velan, have resigned from Velan's Board.Patrick Duncan, a partner at Birch Hill, has been appointed board chair. Joshua Lundy, Jim Mannebach, and Shauna Gamble have been appointed to the board as Birch Hill nominees, with Gamble serving as an independent director.Jim Mannebach will be retiring as chief executive officer and stepping down as board chair.Velan also intends to close on a five-year, US$80-million revolving credit facility. Funds are expected to be used to retire other debt in North America and for general corporate purposes going forward.Velan shares were last seen up $0.40 to $15.91 on the Toronto Stock Exchange.Price: $15.91, Change: $+0.40, Percent Change: +2.58%

$VLN.TO

Wire43d ago

Market Chatter: Microsoft Sued by Shareholders Over Azure Growth, AI Costs

Microsoft (MSFT) faces a proposed class action lawsuit filed by shareholders alleging the company failed to disclose slowing Azure cloud growth and rising AI infrastructure costs, Reuters reported Monday.Microsoft shares fell 10% on Jan. 29 following the company's fiscal Q2 report that showed Azure revenue growth slowed to 39% from 40% in the prior quarter, while capital expenditures rose nearly 66% year over year to $37.5 billion in the quarter, the report said. The stock's decline erased roughly $357 billion of market value, Reuters said.The complaint, filed Friday in Seattle federal court, is led by the City of St. Clair Shores Police and Fire Retirement System in Michigan, while defendants include Chief Executive Satya Nadella and Chief Financial Officer Amy Hood, the report said.Microsoft 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: $399.40, Change: $+8.65, Percent Change: +2.22%

$MSFT

Sectors43d ago

Sector Update: Energy

Energy stocks were lower Monday afternoon, with the NYSE Energy Sector Index dropping 3.1% and the State Street Energy Select Sector SPDR ETF (XLE) falling 2.7%.The Philadelphia Oil Service Sector Index was down 2.4%, and the Dow Jones US Utilities Index rose 1%.The US and Iran have reached an agreement to end their war and reopen the crucial Strait of Hormuz after more than three months of conflict that disrupted regional stability and global shipping routes. "The deal with the Islamic Republic of Iran is now complete," President Donald Trump said in a social media post on Sunday. "I hereby fully authorize the toll free opening of the Strait of Hormuz, and, simultaneously herewith, authorize the immediate removal of the US Naval blockade."Front-month West Texas Intermediate crude oil fell 5.1% to $80.59 a barrel, and the global benchmark Brent crude contract dropped 4.7% to $83.26 a barrel. Henry Hub natural gas futures rose 0.3% to $3.13 per 1 million BTU.In corporate news, Peabody Energy (BTU) said Monday it terminated its amended 2020 transaction support agreement with surety providers and entered into standard indemnification agreements to support its US mine reclamation obligations. Peabody Energy shares were down 4.7%.

$BTU

Showing 21541-21560 of 62603

Asia Markets43d ago

Update: US Equity Indexes Soar, Crude Oil Sinks as Interim Deal Agreed to End Iran War

Dow JonesNasdaq CompositeS&P 500$FOX$FOXA$ROKU