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McGraw Hill Fiscal Fourth-Quarter Revenue Falls Amid K-12 Drag

McGraw Hill (MH) reported an annual drop in fiscal fourth-quarter sales on Thursday amid weakness in the K-12 business.The educational courses provider's revenue fell 2% to $463.7 million for the quarter ended March 31. Analysts surveyed by FactSet forecast sales of $439.9 million.Sales in the K-12 segment, which covers kindergarten through 12th grade, fell 10% to $126.2 million, while higher education revenue rose 1.6% to to $258.3 million"Fourth-quarter performance was also impacted by Middle East project delays that have shifted into the second half of fiscal year 2027," Chief Financial Officer Bob Sallmann said on a conference call, according to a FactSet transcript.The stock was down 2.1% intraday Thursday, recovering from a steeper loss earlier in the day.McGraw Hill reported adjusted earnings of $0.32 a share in the fourth quarter, swinging from an adjusted loss of $1.97 a year ago. Analysts polled by FactSet expected adjusted earnings of $0.17 per share.McGraw Hill is preparing to pilot a new agentic artificial intelligence version of its precision education platform, Chief Executive Philip Moyer said in a statement."We have achieved over 7.5 million users of our new AI personalized learning tools and now have an existing base of more than 100 million active student and educator curriculum licenses in over 100 countries," Moyer said.For fiscal 2027, the company expects revenue of $2.12 billion to $2.18 billion, compared with the FactSet consensus of $2.16 billion.Price: $12.59, Change: $-0.22, Percent Change: -1.68%

$MH

Wire46d ago

VSE Sees Robust Near-Term Fundamentals, RBC Capital Markets Says

VSE (VSEC) management sees robust fundamentals and believes rising fuel prices and the Middle East conflict won't impact its near-term outlook, RBC Capital Markets said in a Wednesday research report.The company views its considerable exposure to the business jet and general aviation sector as a positive, according to the note.The business mix of 48% BJGA and greater skew to the maintenance, repair, and overhaul segment, as well as 50% engine places the company in a relatively good position, given the macroeconomic risks, the analysts said.Investors are increasingly expecting cost synergies from the Precision Aviation acquisition of $20 million to $30 million, compared with the company's $15 million guidance, according to RBC.RBC it reiterated its outperform rating on the stock and price target of $240 per share.Price: $179.80, Change: $+6.62, Percent Change: +3.82%

$VSEC

Wire46d ago

Black Hills Facing Merger, Data Center Value Creation Opportunity, BofA Says

Black Hills' (BKH) pending merger with NorthWestern Energy (NWE) has an underappreciated strategic value as the combination will likely offer a larger scale, stronger balance sheet, and wider jurisdictional diversity, BofA said in a note Thursday.The merger will likely also offer a "larger infrastructure runway across data centers, transmission, generation and gas," the note said, adding that merger risk is manageable and Black Hills' shares are not reflecting the "potential EPS growth, financing and valuation benefits."Meanwhile, Wyoming is also emerging as a "credible, but underappreciated" market for data centers, BofA said, adding that the state has "active sites, additional development underway and broad political/regulatory support for large-load growth."The investment firm highlighted Wyoming's Project Jade data center campus as the "most visible opportunity" for Black Hills, a project which BofA sees as "progressing versus paused.""We reflect only partial value for Project Jade in our updated price objective, leaving a potentially meaningful upside option not fully captured in the stock," the note said.BofA upgraded Black Hills to buy from neutral and increased the company's price target to $78 from $76.Price: $73.28, Change: $+1.34, Percent Change: +1.86%

$BKH

Wire46d ago

Aramark's Data Center Opportunity Could be Larger than Expected, Oppenheimer Says

Aramark's (ARMK) data center opportunity could be larger than expected while its core business appears to be hitting its stride, Oppenheimer said in a Thursday note.The report said the company is ramping up its first data center win and should operate about 12 locations by the end of next year and 30 to 40 by the end of the following year.The note said its base business appears to be gaining share, and food and labor inflation should not pose a problem to margins. It also said the firm could initiate an accelerated share buyback on an expected decline in its net leverage."Overall, the core business is performing well and the DC opportunity could be larger than expected," the report said.Oppenheimer retained its outperform rating and increased its price target to $60 from $50.Price: $54.02, Change: $+0.72, Percent Change: +1.34%

$ARMK

Oil & Energy46d ago

Oil Falls Despite Rising US-Iran Hostilities and Hormuz Closure, TPH Says

Oil prices fell despite a fresh escalation in hostilities between the US and Iran, TPH Energy Research analyst Jeff LeBlanc said in a Thursday note.The two sides exchanged multiple rounds of strikes that further undermined ceasefire efforts and cast doubt on prospects for a negotiated peace agreementThe latest cycle of hostilities began after Iranian forces downed a US Apache helicopter, prompting retaliatory action.A second round of strikes followed after US President Donald Trump publicly expressed frustration over Iran's failure to sign a proposed peace deal.Oil markets showed a relatively muted reaction. Brent crude remained below recent highs, trading roughly 1% lower than last Friday's level and about 6% below peaks reached earlier this week. However, the security situation appeared to worsen as both sides adopted increasingly confrontational rhetoric.Trump warned that additional US strikes could follow if an agreement is not reached. Iran's Foreign Ministry responded by saying recent military actions had effectively rendered the ceasefire meaningless, while emphasizing that Iran was working to "neutralize the origin and source of aggressive attacks against Iran."Despite the intensifying conflict, neither Washington nor Tehran has indicated a willingness to abandon diplomacy altogether. Nevertheless, both governments appear to be placing greater emphasis on military measures as negotiations remain stalled.International actors continued to call for restraint. China and several other countries urged both sides to return to the negotiating table and avoid further escalation. However, prospects for a near-term agreement appeared increasingly uncertain under current conditions.Meanwhile, disruptions to regional trade routes intensified. Iran fully closed the Strait of Hormuz, a critical artery for global energy shipments.The Iran-aligned Houthis have warned of the potential economic consequences of further military action but have not moved to close the Bab al-Mandeb Strait, another key maritime chokepoint.

Equities46d ago

Market Chatter: Iran Threatens Musk's Companies in Middle East, Iranian State Media Says

Iran will treat all of Elon Musk's companies in the Middle East as military targets, CNBC reported Thursday, citing a report from Iranian state media outlet Fars.(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.)

Wire46d ago

Amazon Data Centers Used 2.5 Billion Gallons of Water in 2025

Amazon (AMZN) said Thursday its global data center footprint used 2.5 billion gallons of water in 2025, as the tech giant provided an update for its 2030 goal of returning more water to the communities where it operates than what it uses for its data center operations.The company returned three gallons for every four it used last year, meaning it is 75% of the way to its water-positive goal, Amazon said. Looking ahead, the tech giant has announced over 50 water projects that it expects to return over 5.8 billion gallons annually once fully implemented.Price: $236.36, Change: $-1.65, Percent Change: -0.69%

$AMZN

Wire46d ago

Xcel Brands Signs Licensing Agreement With EcoStrong for Cesar Millan Pet, Cleaning Products

XCel Brands (XELB) said Thursday it has signed an agreement to license its "Trust. Respect. Love by Cesar Millan" branded products to EcoStrong.The partnership will introduce a collection of innovative pet care, pet shampoo, and home cleaning products, the company said.Xcel Brands shares were down 9.7% in Thursday trading.Price: $1.66, Change: $-0.15, Percent Change: -8.03%

$XELB

US Markets46d ago

US Producer Prices Climb More Than Expected on Energy Surge

US producer prices rose more than projected in May, matching April's pace, while the annual increase reached the highest since late 2022 amid surging energy costs.The producer price index increased 1.1% on a seasonally adjusted basis, unchanged from April's downwardly revised 1.1% gain, the Bureau of Labor Statistics reported Thursday. Wall Street expected a 0.7% gain, according to a Bloomberg survey.Wholesale goods prices last month rose 2.8%, the largest increase since the data series began in December 2009, with 80% of the advance attributable to an 11% jump in energy prices.Within goods, gasoline prices surged 23% after a 15% gain in April. Food prices increased 0.6% following a 0.2% gain in the prior month.Prices of final demand services rose 0.3% in May after a 0.7% increase in April.On an unadjusted basis, the producer price index climbed 6.5% from a year earlier, the largest 12-month increase since November 2022 and exceeding the consensus for a 6.4% gain.On Wednesday, consumer price data showed inflation accelerating to the fastest pace in about three years, reinforcing expectations that the Federal Reserve will keep interest rates on hold.Markets widely expect the US central bank's Federal Open Market Committee to leave interest rates unchanged at next week's monetary policy meeting, which would mark a fourth straight pause, according to the CME FedWatch tool.

Wire46d ago

Oracle Taking 'Right Steps' to Capture AI Opportunity, Wedbush Securities Says

Oracle (ORCL) is taking the "right steps" to address the massive artificial intelligence opportunity ahead, with its record backlog providing the revenue visibility needed to support an aggressive capacity buildout, Wedbush Securities said in a note Thursday.The investment firm highlighted Oracle's remaining performance obligations of $638 billion, up 363% year over year and above expectations, as evidence of accelerating demand for cloud services, AI training and inferencing. Oracle's fiscal Q4 revenue of $19.18 billion and adjusted earnings per share of $2.11 also exceeded Wall Street estimates.Management said it plans to raise about $40 billion through debt and equity financing in fiscal 2027, including a planned $20 billion at-the-market equity offering, to support AI infrastructure growth. Wedbush said prepayments and customer-supplied hardware on large AI contracts should help reduce financing needs, although adding more debt is likely to raise investor concerns.Wedbush Securities maintained an outperform rating on Oracle, while lowering the price target to $240 from $275.Shares of Oracle were down 10% in Thursday trading.Price: $181.05, Change: $-20.21, Percent Change: -10.04%

$ORCL

Treasury46d ago

Nothing at All Hawkish Out of The Bank of Canada, Says Rosenberg Research

The Bank of Canada did the obvious and held the policy rate at 2.25% on Wednesday, while the main message was that there isn't likely to be any change coming over the near- to intermediate-term, said Rosenberg Research.In Governor Tiff Macklem's opening remarks, he made it clear that "holding the policy rate unchanged balances those risks," referring to downside growth risks and upside inflation risks.The Canadian money market, at points since the late-April meeting, priced in three BoC rate hikes by year-end, and that has been pared to one, noted Rosenberg Research. "That is one too many."Nothing at Wednesday's policy statement and press conference sounded the least bit hawkish, even as the BoC retains its optionality, stated Rosenberg.The Canadian dollar (CAD or loonie) should remain vulnerable since it will take a lot more to knock United States traders from the view that the Federal Reserve will be hiking rates sooner rather than later, according to Rosenberg.What stood out while listening to the press conference on Wednesday was the very different underlying tone compared with the presser following the April rate decision, added Rosenberg. Back then, there was more focus on the possible need for "consecutive increases in the policy rate."That phrase was repeated at the opening of the press conference on Wednesday, but it rang hollow, it pointed out.

$CAD$CXY

International46d ago

World Bank Lowers UAE GDP Growth Forecasts for 2026, 2027

The World Bank lowered its 2026 and 2027 economic growth projections for the United Arab Emirates amid heightened inflationary pressures due to higher energy and food prices arising from the Middle East conflict.In its latest Global Economic Prospects published Thursday, the international organization said it now expects the UAE economy to grow 2.4% in 2026 and 4.1% in 2027, both lower than its 5% and 5.1% projections in January 2026.For 2028, the country's gross domestic product growth is anticipated to come in at 4.2%.

^DFMGI^FADGI

Wire46d ago

Rising Agentic AI Workloads Expected to Boost Demand for CPUs, BofA Says

The rise of agentic artificial intelligence is set to significantly accelerate demand by expanding the role of central processing units, creating opportunities for x86 vendors and ARM-based competitors, BofA Securities said in a note Thursday.The analysts said that, based on their discussions at the BofA Global Technology Conference, they have increased their 2030 estimate for the server CPU total addressable market to more than $170 billion, up from their previous estimate of $125 billion.This forecast implies nearly fivefold growth from current levels and a 37% compound annual growth rate between BofA's 2025 estimate and 2030 estimate, compared with its prior growth estimate of 29% CAGR, the analysts added.The analysts said Intel (INTC) could generate more than $6 in earnings per share by 2030, up from their previous expectation of $3 to $4, although successful execution remains critical. Nvidia (NVDA) remains their top overall semiconductor pick due to its leadership across the entire AI technology stack, including CPUs, GPUs, networking, software, and AI platforms.BofA raised Advanced Micro Devices' (AMD) price target to $560 from $500 and Arm's (ARM) price target to $335 from $245. Intel was double-upgraded to buy and assigned a $135 price target, while Qualcomm (QCOM) remains rated underperform.Price: $114.54, Change: $+7.50, Percent Change: +7.00%

$AMD$ARM$INTC$NVDA$QCOM

Wire46d ago

Amazon Data Centers Used 2.5 Billion Gallons of Water in 2025

$AMZN

International46d ago

World Bank Revises 2026, 2027 Economic Growth Projections for Saudi Arabia

The World Bank revised its 2026 and 2027 economic growth projections for Saudi Arabia amid increased inflationary pressures from higher energy and food prices arising from the Middle East conflict.In its Global Economic Prospects released Thursday, the international organization said it expects the kingdom's gross domestic product to grow 3.1% in 2026, compared with its 4.3% forecast in January.For 2027, Saudi Arabia's GDP is anticipated to expand by 4.9% in 2027, against the World Bank's previous 4.4% estimate, before slowing to 3.7% in 2028.

^TASI

Wire46d ago

Market Chatter: Crusoe Dropped From Wyoming AI Project After Google Raises Issues

Alphabet's (GOOG, GOOGL) Google raised concerns over the costs and timetable of construction of an AI campus project in Wyoming under Crusoe's management, leading to Crusoe being pushed away from the project, Bloomberg reported Thursday, citing people familiar with the matter.On Tuesday, Crusoe said it had "paused" a plan to build the AI campus, but in reality, Black Hills (BKH) said Wednesday it was moving forward without Crusoe as its development partner, the report said. Google is working to finalize a deal with the remaining partners to purchase computing from the site, two of the people reportedly told Bloomberg.The companies didn't immediately reply to requests 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: $346.85, Change: $-6.47, Percent Change: -1.83%

$BKH$GOOG$GOOGL

Wire46d ago

Chewy Lowers Fiscal 2026 Revenue Guidance on Weak Pet Macro, Morgan Stanley Says

Chewy (CHWY) cut its fiscal 2026 revenue guidance due to a weak pet spending backdrop and maintained its fiscal 2026 EBITDA margin guidance, while the main debate is whether the cut was "enough" for estimates to trough, Morgan Stanley said Wednesday in a note.On an organic basis, revenue guidance was cut by about 215 basis points to 5.1% to 6.3%, from 7.3% to 8.5%. Although the cut was larger than Morgan Stanley and the buyside had anticipated, the brokerage is cautiously optimistic that Chewy has reset expectations enough that further cuts can be avoided, according to the note.The investment firm said it sees material upside on a 12-month time horizon, but shares may take some time to re-rate. The fiscal 2026 guidance is a major step in the right direction, but is not completely de-risked if the macro continues to deteriorate, it added.The risk/reward remains sharply skewed and it presents a compelling entry point for long-term investors, even if the near-term remains murky, the brokerage said.The firm trimmed revenue estimates by 1% each for fiscal 2026 and 2027.Morgan Stanley kept an overweight rating on Chewy and lowered the price target to $42 from $43.Shares of Chewy were down more than 4.7% in Thursday trading.Price: $19.05, Change: $-0.93, Percent Change: -4.65%

$CHWY

Commodities46d ago

Emergency Coal Plant Orders Generate Over $300 Million in Costs, Limited Benefits, IEEFA Says

Coal plant emergency orders have cost US utilities over $300 million so far while delivering limited operational benefits, according to an analysis by the Institute for Energy Economics and Financial Analysis on Wednesday.The analysis found that those costs have risen over the past year under the administration's effort to prevent coal plant closures and are increasing by over $30 million per month.The Department of Energy has issued over 20 emergency orders under Section 202(c) of the Federal Power Act, a provision intended for events such as wars or energy shortages, the analysis added.Energy Secretary Chris Wright has used the 90-day directives largely to keep aging and often uneconomic coal units available, even as utilities, regulators and grid operators dispute the existence of power emergencies.Utilities typically retire plants through long-term planning designed to reduce costs and shift generation toward more efficient and reliable resources, the analysis said.DOE emergency orders have forced utilities to spend heavily on repairs to aging coal plants that were already scheduled to close, resulting in high costs for ratepayers while delivering little improvement in reliability or long-term benefits.Consumers Energy's 1,331-megawatt J.H. Campbell facility in Michigan has generated the largest expense, costing at least $185 million through March and potentially another $90 million by Aug. 16.Plant owners continue to incur maintenance, fuel storage, pollution-control, staffing, tax and compliance expenses even when many of the affected units rarely produce electricity, according to IEEFA.TransAlta reported $19.9 million in fixed costs during the first three-month order covering its Centralia facility, while the analysis estimated those costs reached $33.1 million through mid-May.Centralia appears to have remained idle since December. TransAlta initially estimated generation costs at $83.44 per megawatt-hour and later at $113.49/MWh, well above the Northwest wholesale average of $27.60/MWh, IEEFA added.CenterPoint Energy (CNP) told the Department of Energy that the 90 MW F.B. Culley Unit 2 operated fully for only five of its first 48 days under an emergency order and still required $16.5 million to $20.5 million in repairs, IEEFA said.As of June 5, the Department of Energy had issued 22 emergency orders covering eight power plants and 12 generating units, including Stanton Unit 1 in Florida, a 453-megawatt unit that owners planned to place into cold shutdown at the end of May.Operational issues extend across several facilities. NIPSCO's Schahfer Unit 18 and Colorado's 45-year-old Craig Unit 1 remained largely inactive despite orders requiring them to stay available, according to the analysis.Coal consumption under the orders totaled 3.03 million tons from June 2025 through March 2026, with just one plant, J.H. Campbell, accounting for 93% of that volume. The total represented just 0.86% of the 350 million tons consumed by US power plants during the same period.Price: $43.06, Change: $+0.32, Percent Change: +0.75%

$CNP

Mining & Metals46d ago

Quebec Innovative Materials Appoints Jean-Benoit Trahan to Board of Directors

Quebec Innovative Materials (QIMC.CN) has appointed Jean-Benoit Trahan to its board of directors, the company said Thursday.Trahan is president of Enbride Gaz Quebec, one of Quebec's natural gas distributors, where he has served for nearly 12 years.Trahan has deep regulatory expertise and has helped lead the decarbonization of Quebec's gas distribution network, the company said.The appointment comes as QIMC advances from natural clean hydrogen exploration toward project development, infrastructure planning and potential market integration opportunities across its portfolio in Quebec, Ontario, Nova Scotia and the U.S.Price: $0.64, Change: $+0.06, Percent Change: +10.34%

$QIMC.CN

Commodities46d ago

Europe's Battery Storage Boom Shifts Toward Energy Arbitrage, Wood Mackenzie Says

Revenue opportunities for utility-scale battery storage projects in the Netherlands and Belgium are shifting away from ancillary grid services toward energy arbitrage as growing deployment intensifies competition and erodes traditional income streams, Wood Mackenzie said on Thursday.Wood Mackenzie analysts said that revenues from frequency containment reserve and automatic frequency restoration reserve have dropped in both markets as battery capacity expands, mirroring trends in Britain and other European countries.Alex Cipolla, senior research analyst, Energy Storage at Wood Mackenzie, said that as battery capacity scales, competitive pressure on ancillary services intensifies, prices fall, and the revenue stack rebalances toward energy arbitrage.Energy arbitrage, buying electricity when prices are low and selling when prices are high, is projected to account for the largest share of battery revenues in both countries over the lifetime of projects, with that contribution increasing through the 2030s.Wood Mackenzie said that while the Dutch and Belgian markets share similar geographic characteristics, their regulatory frameworks differ.Belgium remains one of Europe's most attractive battery investment destinations due to its established capacity remuneration mechanism and a 10-year exemption from grid fees for transmission-connected assets, the consultancy said.The combination of merchant revenues and capacity market payments helps support project returns even under challenging market conditions.However, Wood Mackenzie said that the key risk facing developers is regulatory uncertainty surrounding the future of the grid-fee exemption, which may not remain in place indefinitely.Dutch battery projects, in contrast, face higher cost pressures despite strong market fundamentals, including high levels of renewable energy penetration, persistent grid congestion, and rising power price volatility."The structural case for storage is strong," Cipolla said, adding that Dutch market fundamentals rival those of Germany and in some areas exceed them.However, grid connection fees remain a major obstacle to profitability. Depending on the scenario, Wood Mackenzie said battery projects in the Netherlands can lose between five and 10 percentage points of internal rate of return compared with similar projects in Germany.Recent regulatory reforms aimed at introducing more flexible grid connection arrangements and emerging congestion management revenue streams could improve project economics, but developers continue to face narrow margins.The consultancy said four-hour battery systems currently offer the strongest economic performance in both markets, benefiting from a balance between energy arbitrage opportunities, cycling requirements, and exposure to grid fees.Meanwhile, falling battery costs are emerging as a major tailwind for the sector, helping offset pressure from declining ancillary service revenues.Wood Mackenzie said that as Europe's utility-scale battery market evolves into a broader investment class, investors are increasingly scrutinizing revenue assumptions that underpin project valuations and financing decisions.

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Commodities46d ago