Financial News · Live Terminal

Page 1111 of 3075

PJM to Expedite Large-Capacity Projects After FERC Approval

PJM Interconnection, a regional transmission organization in the US, said Wednesday that interconnection agreements for large-capacity projects may now be processed within 10 months, following the Federal Energy Regulatory Commission's approval of its proposed accelerated approach.Under the new Expedited Interconnection Track, PJM said it will consider up to 10 interconnection requests per calendar year for large new or uprated capacity resources.The projects, that have a minimum unforced capacity of 250 megawatts, should "have a commitment from a relevant state authority to help expedite siting," according to the RTO.Following submission of request, PJM expects an interconnection agreement to be executed within 10 months, with projects to be operational within three years."...we find that the EIT proposal will help address PJM's near-term resource adequacy needs by establishing a separate, time-limited, expedited interconnection process for a limited number of resources that are able to bring significant capacity onto the system in the near-term," FERC said.The regulator's order is effective from July 31, and the fast-track process will run through the end of 2027.The EIT is a part of the RTO's broader strategy to address power supply and demand imbalance within the PJM service zone, particularly with rising demand from large-load customers, such as data centers.

Research46d ago

BTIG Upgrades Henry Schein to Buy From Neutral, Price Target is $100

Henry Schein (HSIC) has an average rating of overweight and mean price target of $88.07, 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)

$HSIC

Asia46d ago

Market Chatter: Malaysia to Explore Alternate Oil Sources as Middle East Tensions Escalate

Malaysia is looking for alternative crude oil sources as the war in Iran fuels a global energy supply squeeze, Reuters reported Wednesday, citing the country's Economy Minister Akmal Nasir.The disruption has affected Middle Eastern-linked supply chains, with some Malaysian refineries scaling back output after constraints tied to the Strait of Hormuz. Any new imports, however, must be compatible with the country's refinery systems, the news agency said.Akmal said options under consideration include suppliers from Africa, Russia and Turkey. He added that current reserves are sufficient until end-July, while cautioning against locking in long-term deals amid unstable oil prices, Reuters said.(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.)

FTSE Bursa Malaysia KLCI

US Markets46d ago

Oxford Industries Issues Weak Sales Outlook as Fiscal First-Quarter Results Decline

Oxford Industries (OXM) shares fell early Thursday after the clothing company provided a fiscal second-quarter sales outlook below analyst estimates, while its results declined year over year in the prior three-month period.The owner of Tommy Bahama and Lilly Pulitzer clothing brands anticipates sales to come in between $380 million and $400 million for the current quarter, it said late Wednesday. Adjusted earnings are pegged at $1.20 to $1.40 per share. The current consensus on FactSet is for sales of $407.8 million and non-GAAP EPS of $1.40.The stock dropped 6.6% in the most recent premarket activity."The positive momentum we saw to start the year decelerated a bit at the end of the first quarter and continued into the second quarter," Chief Financial Officer Scott Grassmyer said during an earnings call, according to a FactSet transcript. "For the second quarter, we now expect our total company comp to be in the low-single-digit negative to flat range."For the quarter ended May 2, Oxford's adjusted EPS declined to $1.39 from $1.82 last year, but came in ahead of the Street's view for $1.29. Sales edged down 0.4% to $391.4 million, just shy of the average analyst estimate of $391.8 million."We delivered net sales in line with our expectations, led by mid-single-digit positive comps at Tommy Bahama, and adjusted EPS above our guidance range, fueled by better-than-expected gross margins," Chief Executive Tom Chubb said in the earnings release. "Our overall performance also reflects softer than expected results at Lilly Pulitzer and a challenging environment marked by weak consumer sentiment and higher energy prices."Sales from Tommy Bahama increased to $224.6 million from $216.2 million in the prior-year quarter, while Lilly Pulitzer decreased 8.8% to $90.4 million. Revenue from emerging brands advanced 13% to $38.6 million, while Johnny Was logged a 13% drop in sales.For fiscal 2026, Oxford now expects adjusted EPS to be in between $2.30 and $2.70, reflecting a higher bottom end versus the previous guidance of $2.10. Sales are forecast to be in a range of $1.48 billion to $1.51 billion, reflecting a lower top end compared with prior projections of $1.53 billion. The Street is looking for non-GAAP EPS of $2.46 and sales of $1.5 billion for the fiscal year."As we look to the remainder of the year, we expect macroeconomic pressures to continue weighing on consumer sentiment, and we are allowing time for our corrective actions at Lilly Pulitzer to gain traction," according to Chubb. "In light of these factors and recent comparable sales trends, we are narrowing our full-year sales guidance range."The company's outlook points to a meaningful second-half improvement for the Lilly Pulitzer and Johnny Was brands, despite expectations for macro pressures to persist, Truist Securities said in a note."We remain more cautious without further visibility into these topline improvements (especially in a volatile macro)," the brokerage added.

$OXM

Mining & Metals46d ago

Bank of Canada's Dovish Position May Keep US Dollar/ Canadian Dollar Cross Under "Pressure", Says ING

The Bank of Canada continues to sit at the dovish end of the spectrum after Wednesday's policy decision and comments, said ING.The BoC used phrases like 'excess supply' in the economy and 'looking through' inflation in Wednesday's policy update, writes the bank in a note.This could see USD/CAD head back to the 1.40 area and keep a cross rate, like CAD/NOK, under "pressure" given the more hawkish position of Norway's Norges Bank, stated ING.

$CXY$CAD/NOK$USD/CAD

Sectors46d ago

Crude Oil Prices Hold Steady as Traders Assess Supply Impacts of U.S.-Iran War Escalation

Crude oil prices were little changed on Thursday as traders assessed the supply impacts of recent renewed exchange of hostilities between the U.S. and Iran.Brent crude at last look lost 0.7% to US$92.45/barrel and West Texas Intermediate crude was down 0.5% to $89.57/barrel. This comes as efforts to reach a preliminary deal between the two countries intensify despite strikes from both sides, Reuters said in a Thursday report, citing three Iranian sources.Tehran declared the Strait of Hormuz closed after the U.S. launched strikes against Iran, the report said. Weaker Chinese fuel demand, however, is capping price increases amid falling gasoline and diesel use, as well as lower crude imports."The latest escalation adds uncertainty to already fragile ceasefire negotiations and risks prolonged supply disruptions that have constrained global crude, fuel, and LNG exports since the conflict began," Reuters quoted MUFG analyst Soojin Kim as saying.

$CLX1$LCOX1$USO

Research46d ago

William O'Neil Initiates SharkNinja at Buy

SharkNinja (SN) has an average rating of buy and mean price target of $149.46, 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)

$SN

Research46d ago

Jefferies Initiates Advanced Drainage Systems at Buy With $175 Price Target

Advanced Drainage Systems (WMS) has an average rating of buy and mean price target of $179.70, 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)

$WMS

Research46d ago

Citigroup Initiates Energy Vault at Neutral With $5.25 Price Target

$NRGV

Research46d ago

Daiwa Securities Downgrades Sakai Moving Service to Neutral from Outperform; Price Target is 2,900 Yen

TYO:9039

Research46d ago

William Blair Downgrades J.Jill to Market Perform From Outperform

J.Jill (JILL) has an average rating of overweight and mean price target of $15.25, 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)

$JILL

Research46d ago

Rothschild & Co Redburn Downgrades MarketAxess to Neutral From Buy, Adjusts PT to $134 From $189

MarketAxess Holdings (MKTX) has an average rating of overweight and mean price target of $174.64, 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)

$MKTX

Oil & Energy46d ago

Market Chatter: Sanctioned Chinese Refiner Hengli Pivots to West African Crude

Blacklisted Chinese refiner Hengli Petrochemical has purchased at least 2 million barrels of West African crude, pivoting toward mainstream, non-sanctioned supplies, Reuters reported Thursday, citing sources.The privately owned refiner, which operates a massive 400,000 barrel-per-day integrated complex in the northeastern city of Dalian, was banned by the US Department of the Treasury's Office of Foreign Assets Control under Economic Fury maximum-pressure campaign targeted at curbing Iranian energy revenues.Although Hengli had immediately issued formal stock exchange filings denying any trade dealings with Iran, the company has actively begun inquiring about non-sanctioned West African and Middle Eastern grades for delivery from June onward to establish a fully compliant baseline, the report said.The company recently finalized the purchase of at least two million barrels of West African crude slated for arrival in China around late June or July, it added.Under OFAC guidelines, a blacklisted entity can petition for administrative removal from the Specially Designated Nationals list by demonstrating a material change in circumstances or proving that the initial basis for the designation no longer applies.To maintain refinery utilization rates during this legal transition, Hengli has relied on a three-month operational cushion of crude inventories and has continued its procurement operations utilizing Chinese Renminbi settlement infrastructure.However, physical trade flows are expected to face significant operational friction.The report highlighted that supplying mainstream, non-sanctioned barrels to a blacklisted end-user is highly complex.Major sellers and shipowners are intensely wary of exposure to US secondary sanctions and compliance scrutiny, meaning future transactions will likely have to be structured through an intricate chain of intermediaries and middlemen.Neither Hengli Petrochemical nor the US Treasury responded to' requests for comments.(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.)

US Markets46d ago

Wizz Air Rises on Fiscal 2026 Profit Beat; Outlook for Next Year Withheld Amid Middle East Crisis

Wizz Air (WIZZ.L) shares rose more than 6% in early Thursday morning trade after it reported better-than-expected profit for fiscal 2026, while withholding guidance for the next year due to a "lack of visibility" across its trading seasons and the ongoing US-Iran conflict.The budget airline said the crisis in the Middle East led to several "significant one-off" headwinds in the 12 months ended March 31, 2026, including the forced cancellation of Tel Aviv and other Middle East routes during the 2025 peak summer period and the cancellation of Middle East and Cyprus routes in March 2026.Consequently, fiscal 2026 profit attributable to owners plunged year over year to 2.2 million euros from 225.8 million euros. While earnings diminished 99.4%, Wizz Air surpassed expectations for losses of 75 million euros by RBC Capital Markets and 50 million euros by Visible Alpha consensus.Total revenue of the carrier increased annually to 5.69 billion euros from 5.27 billion euros earlier, coming "broadly in line" with RBC and Visible Alpha estimates of 5.78 billion euros and 5.76 billion euros, respectively, amid lower fuel and higher other income. The company also carried a record 69.7 million passengers, with seat capacity up 10.5% to 76.9 million seats.While Wizz Air did not provide a financial outlook, it projected a reduction in GTF engine-related groundings to between 15 and 20 aircraft at the end of fiscal 2027, from 30 in the reported period. The groundings are expected to be zero by the end of the calendar year 2027."We are cautious on the outlook into FY27E given poor earnings quality in FY26, higher exposure to the Middle East and jet fuel, low margins, and less scope to pass on fuel headwinds in short-haul. Geopolitics offers both elevated upside potential and downside risk," RBC Capital Markets said.

$WIZZ.L

Japan46d ago

Gold Futures Fall 0.5% to $4,111.4/Oz, Silver Futures Decline 0.9% to $64.17/Oz Early Thursday

Japan46d ago

Gold, Silver Futures Fall Pre-Bell After Trump Warns of More Strikes Unless Iran Accepts Interim Deal, Reopens Hormuz

Asia46d ago

China International Withdraws Lawsuit Against Beijing Contractor

China International (SGX:BEH) has decided to withdraw a debt recovery lawsuit in China against Beijing Kaiyuan Wanjia Management Consulting, according to an after-market filing with the Singapore Exchange on Thursday.The company's subsidiary, CIHL (Tianjin) City Development, had filed the suit against Beijing Kaiyuan to recover outstanding debts of around 47.3 million.At a court hearing on May 9 at the Beijing Daxing District People's Court, the company was asked to bring additional evidence.However, following legal counsel, the company has concluded the legal costs to be substantial and will consume a lot of time and energy.Therefore, the engineering construction company has opted to withdraw the case and will instead, reassess its creditor rights against the contractor and could pursue claims through other legal means.

SGX:BEH

Commodities46d ago

US Oil Exports Near Ceiling Amid Price Pressure, Physical Capacity Limits, Kpler Says

US crude exports could be staring at a ceiling pressurized by pricing reasons as well as hard physical limits, with total petroleum inventories in the country declining to multi-decade lows, trade intelligence firm Kpler said in a note on Wednesday."Exports hit a record [5.6 million barrels per day] sustainably last month, as the US sought to incrementally capture higher prices and help balance the market. But pipeline and dock constraints cap total US exports to this level, assuming an entire supply chain that works at full capacity with no hiccups," Kpler analysts said.Only Enbridge's (ENB) Ingleside Energy Center and Gibson Energy's South Texas Gateway terminal, which load US crude onto tankers for export to Europe and Asia, have the capacity to directly load Very Large Crude Carriers, limiting the capacity of US to replace Middle Eastern supplies at scale.About 16 million barrels of crude was withdrawn from US reserves last week, including from strategic petroleum reserves, with inventories at the Cushing hub falling to less than 22 million barrels.The supply tightening at the Cushing hub, which saw a weekly draw of 583,000 barrels, has shifted from a tail risk to the baseline assumption, with implications expected to impact the entire WTI complex."Inventory draws have been in keen focus since the start of the US-Iran war. The US has pivoted to a net liquids exporter in this time, but the realities of sharp draws are pushing prompt structure higher and putting further pressure on critical inventories and domestic consumers," Kpler analysts said.About 170 million barrels have been released so far from SPR as part of the temporary oil exchange program. Withdrawal from SPR remains a finite fix as reserves declined to 415 million barrels entering the crisis and is inadequate to compensate for the lost barrels due to the long-term closure of the Strait of Hormuz.The payment required for these barrels in the form of 18-24% premium in kind is also expected to put significant pressure on oil inventories in 2027-2029.Meanwhile, US imported 6.4 million b/d of crude last week, recording a weekly rise of 1 million b/d, while US refiners have recorded a 95% utilization rate despite a light maintenance season "further squeezing commercial stocks", Kpler said.At the same time, wildfires in Canada, including within 20 kilometers of 500,000 b/d of oil sands production, present an immediate risk as a 300,000-500,000 b/d of supply disruption could "heavily stress PADD 2 refiners and push the situation at Cushing to critical levels," analysts said.

$ENB

Asia46d ago

Cipla's Goa, India Facility Receives VAI Status from US FDA

Cipla (NSE:CIPLA, BOM:500087) said the U.S. Food and Drug Administration classified an inspection of its manufacturing facility in Verna, Goa, as Voluntary Action Indicated (VAI), according to a Thursday filing on Indian exchanges.A VAI classification indicates that "objectionable conditions or practices were found, but the agency is not prepared to take or recommend any administrative or regulatory action," according to the inspection classification available on U.S. FDA website.The inspection, which included a routine inspection of current Good Manufacturing Practices and a pre-approval inspection, was conducted between April 6 and 17, the filing said.Shares of the company rose nearly 1% in recent trade.

BOM:500087NSE:CIPLA

Treasury46d ago

US 10-Year Treasury Yield Slips 1.2 basis Points to 4.53%, 2-Year Rate Unchanged at 4.13% Early Thursday

Showing 22201-22220 of 61482

US Markets46d ago

Oxford Industries Issues Weak Sales Outlook as Fiscal First-Quarter Results Decline

$OXM