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Barclays Adjusts Price Target on EQT to $70 From $69, Maintains Overweight Rating

EQT (EQT) has an average rating of overweight and mean price target of $67.96, 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)

$EQT

Asia4d ago

Industrial & Infrastructure Fund Secures 5 Billion Yen Loan for Partial Early Repayment

Industrial & Infrastructure Fund Investment (TYO:3249) \ secured two loans totaling 5 billion yen to make early partial repayment of an existing debt, according to a Tokyo bourse filing on Wednesday.The REIT will secure the loans from Resona Bank, of which the first will be a 2.5 billion yen, three-year facility maturing July 31, 2029, and the second a 2.5 billion yen, eight-year facility maturing July 31, 2034. Both are scheduled for drawdown on July 31, 2026.The proceeds will be used to make a partial early repayment of a 5.5 billion yen loan from Sumitomo Mitsui Banking, with 5 billion yen being repaid on July 31, ahead of its original Nov. 30 maturity.

TYO:3249

Equities4d ago

Stephens Adjusts Price Target on EQT to $72 From $71, Maintains Overweight Rating

$EQT

US Markets4d ago

Alaska Air Issues Downbeat Earnings Outlook, Swings to Second-Quarter Loss

Alaska Air (ALK) shares were down early Wednesday after the airline issued a third-quarter earnings outlook below market estimates and swung to a loss in the second quarter year over year as higher fuel costs weighed on results.The company expects its bottom line to be in a range of breakeven to adjusted earnings of $1 per share for the ongoing quarter, it said late Tuesday. The current consensus on FactSet is for non-GAAP EPS of $1.30. The stock declined 1.7% in the most recent premarket activity."Our second-quarter results were defined by a fuel spike outside our control - but underneath it, this company is executing better than ever," Chief Executive Ben Minicucci said. "Absent the fuel headwind, we would have delivered a solidly profitable quarter."For the three months through June, Alaska Air posted an adjusted loss of $0.92 a share, compared with earnings of $1.78 the year before. The Street had estimated a non-GAAP loss of $0.99. Operating revenue rose 10% to $4.07 billion, slightly below the average analyst estimate of $4.09 billion.Fuel cost surged 85% year over year to $4.43 per gallon, resulting in an incremental fuel expense of $600 million, the airline said. Total operating expenses rose to $4.23 billion from $3.43 billion.Revenue per available seat mile, or unit revenue, climbed 8.6% on an annual basis in the second quarter on capacity growth of 1%. Passenger revenue inclined 9% to $3.64 billion, while loyalty program and cargo and other revenue advanced 23% and 17%, respectively.The March rainstorms in Hawaii had a substantial impact on spring break travel in April and weighed on Alaska Air's system unit revenue by about three points in the quarter. However, demand remained resilient outside Hawaii, the company added.For the third quarter, revenue per available seat mile is expected to be up by low-double digits, supported by robust yields and demand, although Hawaii remains a two- to three-point headwind to the metric, according to the airline. Capacity is set to gain by 2% to 3%."Loads are recovering and new bookings are coming in at system level yields, showing demand returning to historical levels in September," the carrier said in its earnings release.Alaska Air anticipates a fuel price of $3.75 per gallon in the current quarter, reflecting fuel costs of $3.60 per gallon this month and average spot prices of $3.85 for August and September. "While fuel prices remain volatile, economic fuel cost is expected to come down from second quarter levels as refining margins have recently moderated," according to the company.Last week, United Airlines (UAL) forecast about $6 billion in additional fuel expense for 2026. Earlier in July, Delta Air Lines (DAL) said it expects an all-in fuel price of about $3.15 per gallon in the September quarter.Crude prices have remained elevated following renewed tensions between the US and Iran.

$ALK

Asia4d ago

SK Innovation Acquires Coil BESS for 1.29 Billion Won

SK Inc. (KRX:034730) said its subsidiary SK Innovation (KRX:096770) added Coil BESS as a wholly owned subsidiary after acquiring a 100% equity stake in the energy storage systems company for 1.29 billion won, according to a Wednesday filing with the Korean Exchange.The acquisition, completed through a share purchase agreement, included a 658 million won payment for the shares and 632 million won for loan receivables and related rights, which will be converted into equity.The transaction increases its total number of subsidiaries to 30.

KRX:034730KRX:096770

Commodities4d ago

Rockport Energy Fund Closes Inaugural Permian Acquisition in Texas

Rockport said on Tuesday that it has completed the inaugural acquisition for the Rockport Energy Fund, securing a drill-ready Permian Basin development project in Reeves County, Texas.Closed in June 2026 ahead of the Fund's anticipated first close, the transaction features a drill-ready development project in Reeves County, Texas, known as Project Bravo.The acquisition consists of a 40% working interest in a Rockport-operated program to target short-cycle, operator-led opportunities in proven US basins.Situated in the core of the Permian Basin, Project Bravo is backed by robust technical data, including performance metrics validated against more than 200 surrounding wells to support precise production forecasting, it said.Additionally, the project is supported by established midstream infrastructure in the area, providing immediate offtake options for oil and gas production and significantly mitigating execution risk between drilling operations and first sales.

International4d ago

MBA US Mortgage Applications Rise 1.9% in Week Ended July 17 After 2.7% Decrease in Prior Week

Asia4d ago

KakaoBank, SCBX Enter JV Agreement to Launch Virtual Bank in Thailand

KakaoBank (KRX:323410) and Thailand's SCB X Public Company (BKK:SCB) signed a joint venture agreement to establish a virtual bank in Thailand, the bank said in a Wednesday release.The virtual bank will offer banking services exclusively via digital platforms without physical branches. KakaoBank will initially acquire a 10% stake in the joint venture and plans to raise it to 24.5%, according to the release.The virtual bank aims to begin operations after completing system development and securing final approval from the Bank of Thailand, the release said.Shares of KakaoBank and SCB X Public Company fell nearly 3% at market close.

BKK:SCBKRX:323410

Asia4d ago

Unisound AI Technology Forecasts Up to 43% Boost in H1 Revenue

Unisound AI Technology (HKG:9678) expects an operating revenue of between 530 million yuan and 580 million yuan for the first half of 2026, up 31% to 43% from a year prior.Of the total, revenue for the intelligent agent business is forecast to rise by 200% to 220% to between 515 million yuan and 550 million yuan, according to a Wednesday Hong Kong bourse filing.The AI services provider's newly developed direct token invocation wing anticipates a revenue of 30 million yuan in the six month.

HKG:9678

Oil & Energy4d ago

Iraq, US Reportedly Sign $200 Billion in Energy Deals

Iraq reportedly signed energy deals with the US worth $200 billion, to increase domestic production capacity and support associated gas developments, according to media outlets on Wednesday.The two countries inked seven agreements, including a deal with Halliburton (HAL) for the management of the Bin Umar and Sindbad oilfields, a deal with HKN Energy to develop the Himreen oilfield, and a contract with Chevron (CVX) to operate the West Qurna 2 field and develop the Nasiriyah and Balad oilfields, The National reported.The country's oil production capacity is around 4.8 million barrels per day at present, Reuters reported, citing Iraq's oil minister Basim Mohammed Khudair.The presence of US companies in Iraq highlights the attractiveness of the country's oil investment environment, Khudair reportedly said.Aside from the US, Iraq has also signed a deal with Syria for the rehabilitation of the Haditha-Baniyas oil pipeline and is currently in discussion with Turkey for the renewal of an agreement pertaining to oil exports through the Ceyhan pipeline, according to the oil minister.

$CVX$HAL

Mining & Metals4d ago

Avante Widens Fiscal Q4 Net Loss YoY

Avante (XX.V) reported fiscal fourth-quarter net loss of C$2.7 million, widening from a loss of C$862,000 in the year-ago quarter.Revenues were C$10.5 million, up from C$9.3 million in the year-ago quarter, the security company reported Wednesday.

$XX.V

International4d ago

US Export Exposure to Canada Continues to Shrink Amid Trade Tensions, BMO Says

While the 18-month trade dispute has primarily focused on what Canada sells to the US, the flow of American goods into Canada has largely remained overlooked, according to Bank of Montreal Capital Markets (BMO) in a note Tuesday.The limited attention to Canadian measures reflects that Ottawa removed most retaliatory tariffs nearly a year ago, BMO wrote.The Bank of Canada estimates that country's average tariff on US imports has fallen to 1.5%, well below the 5.0% US tariff rate on Canadian goods that preceded Monday's announcement of new specific tariffs from the administration of President Donald Trump."What's notable is that even with a modest tariff rate, US exports to Canada have dropped about 5% in the past 18 months," wrote BMO Chief Economist Douglas Porter in the note.Canada's share of overall US exports has slipped to just under 14% this year, compared with around 18% in 2024 and roughly 22% when the Free Trade and the North American Free Trade agreements were signed, added the bank.The long-running decline in Canada's share of US exports has accelerated notably since the beginning of 2025, when President Trump retook office.

$CXY

Asia4d ago

LS Marine Solution Completes Upgrades on Cable-Laying Vessel

LS Marine Solution (KOSDAQ:A060370) completed performance upgrades on its cable-laying vessel GL2030, expanding its cable loading capacity to 7,000 tons from 4,000 tons, according to a statement on Wednesday.The upgrade enables continuous installation of over 100-kilometer routes, slashing voyage frequency, construction time, and costs while positioning the company to capture surging submarine cable demand.LS Marine Solution expects to significantly boost project execution, driven by the government's 55GW offshore wind bidding plan by 2035, the West Coast HVDC project, and rising cross-border cable demand from AI data centers.The company plans to expand its participation in national grid projects and target global markets through LS GreenLink, LS Cable & System's U.S. submarine cable production base.

KOSDAQ:A060370

Mining & Metals4d ago

CAE Strikes Collaboration Agreement with Leonardo to Advance Pilot Training

CAE (CAE.TO) struck a collaboration agreement with aerospace and defense company Leonardo on advanced fighter pilot training, the company said Wednesday.The companies will develop advanced capabilities to prepare pilots for operational concepts such as AI-enabled systems and autonomous mission environments.The agreement is an expansion of CAE and Leonardo's existing collaborative relationship, expanding its scope as the companies work on a technology roadmap to advance Leonardo's M-346 Integrated Training System for military pilots.

$CAE.TO

Commodities4d ago

Exus Renewables Secures $356M Financing for Pennsylvania Wind Repowering

Exus Renewables, an independent North American power producer, announced the closure of $356 million in construction financing for two wind repowering projects in Pennsylvania, earlier this week.The cash will fund the 61.6-megawatt Cambria Wind Farm and the 75-MW Highland North Wind Farm, both located in Cambria County. KeyBanc Capital Markets, along with its partners served as the coordinating lead arranger.The Cambria project is set to begin commercial operations by the autumn of 2026, meeting rising electricity demand from data centers and large industrial customers, the company said in a statement.The projects will expand Exus' Pennsylvania portfolio to more than 306.9 MW of owned wind capacity, including the 139.4-MW Twin Ridges Wind Farm in Somerset County. The company plans to hold a ribbon-cutting ceremony for the Highland North and Cambria projects in September.Jim Spencer, the company's CEO noted that "The demand for clean energy from data centers and large corporations isn't slowing down, it's accelerating," while adding that capital remains available for developers with strong pipelines.

Asia4d ago

San Miguel Brewery Warns of Lower H1 Profit

San Miguel Brewery Hong Kong (HKG:0236) expects a net profit of HK$11.4 million for the six months ended June 30, down from HK$51.1 million a year prior.The brewer attributed the forecast to the adverse impact of the U.S.-Iran conflict on export volumes and operating costs.

HKG:0236

Asia4d ago

Contiocean Environment Tech Expects Up to 277% Jump in H1 Profit

Contiocean Environment Tech Group (HKG:2613) expects net profit for the first half of 2026 to range between 17 million yuan and 23 million yuan, up 179% to 277% from 6.1 million yuan a year earlier, according to a Wednesday Hong Kong bourse filing.The company attributed the expected increase mainly to revenue from new products, including shaft generator systems and plate heat exchangers, as well as deliveries of long-cycle orders that were delayed in 2025.

HKG:2613

Asia4d ago

OCI Returns to Profitability in Q2

Chemicals company OCI (KRX:456040) posted attributable net income of nearly 30 billion won in the second quarter compared with a loss of 722 million won a year earlier.Sales rose 1.5% to over 535 billion won for the three months ended June 30, from 527 billion won in the prior-year quarter, according to a filing on Wednesday.For the first half of the year, cumulative attributable net income reached 54.8 billion won compared with a loss of 16.5 billion won a year earlier, while sales declined 2.3% to 1.041 trillion won from 1.066 trillion won.The company attributed the turnaround in profitability to strong performance across its business segments, though it noted that the interim figures have not yet been reviewed by external auditors and remain subject to change.

KRX:456040

Asia4d ago

Mongolian Mining Posts 29% Rise in Q2 Coal Output

Mongolian Mining (HKG:0975) posted a 29% year-on-year increase in run-of-mine coal output to 4.4 million tonnes for the second quarter.Sales of washed coking coal rose 55% from a year earlier to nearly 2.7 million tonnes, while production increased 29% to 2.8 million tonnes, according to a Wednesday Hong Kong bourse filing.The company processed 4.5 million tonnes of ROM coking coal, up 25% year over year.

HKG:0975

Asia Markets4d ago

Earnings, Crude Prices Roil Asian Stock Markets

Asian stock markets churned on Wednesday as markets digested rising crude prices, the unfolding earnings season, and tensions in the Middle East.Hong Kong and Tokyo finished in the red, while Shanghai inched up. Other regional exchanges were also mixed.Brent crude oil touched $95.27 a barrel during Asian market hours, up 4.7%.In Japan, the Nikkei 225 opened higher but waffled, and finished off 0.2% as traders mulled oil prices and earnings reports.The benchmark Nikkei 225 fell 116.59 to 66,115.60, although gaining issues outnumbered losers 121 to 102.Leading the upside was advanced material maker Mitsui Kinzoku, up 7.4%, while J. Front Retailing declined 5.7%.In economic news, Japan's international exports rose 19.3% on the year in June, while imports rose 25.4%, reported the Ministry of Finance.In Hong Kong, the Hang Seng Index opened lower and could not recover, closing down 1% on softness in gaming and internet-platform shares.The broad gauge Hang Seng fell 239.63 to 24,892.66, as losing issues outnumbered gainers 50 to 38. The Hang Seng TECH Index lost 3% on the day, while the Mainland Properties Index fell 1.2%.Leading the upside was Xinyi Solar, gaining 6.4%, while internet services and video game maker Netease fell 7.4%. Gaming giant Tencent declined 7%.On the mainland, the Shanghai Composite rose 0.1% to 3,867.03.On the other regional exchanges, the S. Korean KOSPI rose 0.7%; the Taiwan TWSE advanced 1.3%; the Australian ASX 200 gained 0.3%; the Singapore Straits Times Index rose 1.2%, and the Thai Set declined 0.8%. In late trading in Mumbai, the Sensex was down 0.9%.The MSCI All Country Asia Pacific Index traded evenly on the day.In other news, Bank Indonesia held its key interest rates unchanged after a policy session.

Hang SengNikkei 225Shanghai Composite

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US Markets4d ago

Alaska Air Issues Downbeat Earnings Outlook, Swings to Second-Quarter Loss

$ALK