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Sector Update: Energy Stocks Decline Tuesday Afternoon

Energy stocks were lower Tuesday afternoon, with the NYSE Energy Sector Index falling 1.4% and the State Street Energy Select Sector SPDR ETF (XLE) dropping 1.9%.The Philadelphia Oil Service Sector Index was shedding 2.4%, and the Dow Jones US Utilities Index rose 0.8%.Oil prices declined on Tuesday after President Donald Trump said the Iran war could end within days. Trump told reporters in New York that a diplomatic resolution to the Middle East conflict could be reached in "two or three days," CNBC reported. The critical Strait of Hormuz, which remains effectively shut, would reopen "immediately" after the deal, Trump reportedly said.Front-month West Texas Intermediate crude oil fell 3.6% to $88.05 a barrel, and the global benchmark Brent crude contract dropped 2.8% to $91.59 a barrel. Henry Hub natural gas futures increased 0.3% to $3.16 per 1 million BTU.In corporate news, BP (BP) said Tuesday the company will be run under a new, simplified organizational structure -- Upstream and Downstream -- from July 1. Shares were down 2.7%.Uranium Energy (UEC) shares tumbled 16% after the firm reported a fiscal Q3 net loss of $0.11 per share, widening from a loss of $0.07 a year earlier. Analysts surveyed by FactSet expected a loss of $0.03.Halliburton (HAL) said it has entered into an agreement with Pampa Energia to support the digital transformation of its unconventional operations in Argentina's Vaca Muerta shale region. Halliburton shares declined 2.7%.

$BP$HAL$UEC

Commodities45d ago

US Natural Gas Update: Prices Edge Down Despite Expected Increase in Demand

US natural gas futures moved modestly lower in midday trading on Tuesday, but remained supported by expectations of stronger power generation demand and a gradual recovery in LNG feedgas flows.The front-month Henry Hub contract and the continuous contract both lost 0.10% to $3.144 per million British thermal units.Fundamentals showed a mixed but slightly firmer demand picture. Gelber & Associates said balances are "showing demand strengthening," driven by higher power burn and improving LNG feedgas demand as maintenance activity eases. Weather models continue to point to a hotter pattern through mid-June, with cooling demand expected to build over the coming days, keeping overall consumption above recent levels.Despite recent production drawdowns, inventories remain elevated. "Although lower output in recent weeks has helped reduce the storage surplus, inventories remain around 5% above the five-year seasonal average, indicating broadly comfortable supply conditions heading into the summer period," Trading Economics said.NRG Energy noted that US natural gas production has held broadly steady, averaging between 106 Bcf/d and the low 108 Bcf/d range. However, it pointed to softer demand over the past week, with temperatures only gradually trending warmer and forward forecasts moderating expectations over the next 20 days, weighing on futures pricing.LNG export activity also remains constrained. NRG said feedgas flows have averaged around 16 Bcf/d over the past week, with ongoing maintenance continuing to limit export volumes. It added that while such maintenance is typical for May through June, some facilities are scheduled for extended outages into later summer months.In the longer term, the US Energy Information Administration said Tuesday that rising natural gas demand for electricity generation and continued growth in US exports are expected to put upward pressure on prices in the second half of 2027. The agency projects Henry Hub spot prices will average about $3.34/MMBtu in the second half of this year and $3.55/MMBtu in the second half of next year.

Insider Trading45d ago

Corvel Insider Sold Shares Worth $421,558, According to a Recent SEC Filing

Michael G Combs, CEO & President, on June 08, 2026, sold 7,000 shares in Corvel (CRVL) for $421,558. Following the Form 4 filing with the SEC, Combs has control over a total of 33,822 common shares of the company, with 33,822 shares held directly.SEC Filing:https://www.sec.gov/Archives/edgar/data/874866/000164124826000010/xslF345X05/edgardoc.xmlPrice: $61.00, Change: $+1.12, Percent Change: +1.87%

$CRVL

Mining & Metals45d ago

Western Exploration Starts Grid Power Feasibility Study for Doby George Project With Expandability for Gravel Creek

Western Exploration (WEX.V) on Tuesday said the Raft River Rural Electric Co-operative (RRREC)started a feasibility study to evaluate the supply of grid power to the company's Doby George gold project, as well as the future expandability for the Gravel Creek project, both located within the Aura district in northeastern Nevada.The study will be completed by WSP and will evaluate the existing capability of RRREC's Riddle Substation and existing feeders in proximity to Doby George to serve an additional 3.5-megawatt (MW) peak load and potential 5 MW motor start load, it said. WSP will present options to serve the load through system extensions and upgrades after an assessment of available system capacity and constraints.WSP will also determine, once identified, material upgrades that could prepare the system for an additional 6 MW load in support of future development of the Gravel Creek project, and will develop a Level 4 engineering and equipment cost estimate for the identified upgrades.The company added that it is working with its contractors and consultants towards a Mine Plan of Operations to be submitted by the end of September.Shares of the company were last seen down $0.02 to $0.59 on the TSX Venture Exchange.Price: $0.59, Change: $-0.02, Percent Change: -3.28%

$WEX.V

Wire45d ago

Market Chatter: Ashland Urged by Activist Ancora to Pursue Sale

Ashland (ASH) was urged by activist Ancora Alternatives, which has built a significant stake in the company, to sell itself, as a deal could boost its share price by at least 30%, Reuters reported Tuesday, citing a presentation it reviewed.The hedge fund said it is prepared to launch a proxy fight at Ashland if no tangible progress is made toward reaching a deal by the time the window to nominate board members opens in September, the report said.Ashland and Ancora 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: $61.84, Change: $+4.38, Percent Change: +7.61%

$ASH

Sectors45d ago

Sector Update: Tech Stocks Fall Tuesday Afternoon

Tech stocks were sharply lower Tuesday afternoon, with the State Street Technology Select Sector SPDR ETF (XLK) falling 3.5% and the State Street SPDR S&P Semiconductor ETF (XSD) dropping 6%.The Philadelphia Semiconductor index slumped 4.7%.In sector news, OpenAI has confidentially filed for a potential initial public offering in the US, joining a series of mega-cap listings that could mark the largest capital-raising cycle on record. Last week, AI chatbot Claude maker Anthropic confidentially filed to go public in the US. Elon Musk-led SpaceX is looking to raise a record-breaking $75 billion in its IPO, and could be valued at $1.75 trillion, Reuters reported earlier this month.In corporate news, Apple (AAPL) on Monday unveiled major software updates at its Worldwide Developers Conference, including Siri AI and the next generation of Apple Intelligence. Separately, Apple said Tuesday users in the EU will not have access to Siri AI on iOS 27 and iPadOS 27 when the software launches later this year because of requirements under the bloc's Digital Markets Act. Apple shares fell 3.8%.SailPoint (SAIL) on Tuesday issued a fiscal Q2 revenue outlook indicating a sequential growth slowdown, while the cybersecurity company left its full-year profit guidance unchanged. Its shares dropped 11%.CoreWeave (CRWV) will hold calls Tuesday with high-yield investors in Europe about potential dollar and euro bond sales, Bloomberg reported. CoreWeave shares dropped 5.4%.

$AAPL$CRWV$SAIL

Mining & Metals45d ago

Zephyr Minerals Provides Dawson Gold Update

Zephyr Minerals (ZFR.V) on Tuesday reported the "successful" completion of the third quarter of its comprehensive groundwater monitoring and analytical program at and surrounding the Dawson Gold deposit.The fourth-quarter program is scheduled for September, keeping the company on track to complete the full five-quarter program by year-end, said the company."Upon receipt and review of all analytical data, Zephyr intends to resubmit a mining permit application to the Colorado Division of Reclamation, Mining and Safety (DRMS) for its 100%-controlled Dawson Gold property in Colorado, USA, in January 2027," added the company.The company's shares were last seen down $0.005 to $0.045 on the TSX Venture Exchange.Price: $0.05, Change: $-0.01, Percent Change: -10.00%

$ZFR.V

US Markets45d ago

Campbell's Snacks Business Turnaround to Take Time Amid Demand Headwinds, RBC Says

Campbell's (CPB) is unlikely to see a quick turnaround in its snacks business, with demand headwinds expected to persist well into next year, RBC Capital Markets said Tuesday.On Monday, the packaged food company reiterated its full-year outlook after reporting mixed fiscal third-quarter results. Revenue in the company's meals and beverages and snacks segments decreased 4% each.Campbell's is seeing "early signs of progress" in the snacks business and is taking additional steps to strengthen its salty snacks portfolio, Chief Executive Mick Beekhuizen said at the time."Although they are encouraged by some bright spots, it is evident that a recovery in the snacks business will not happen overnight," RBC's co-head of global consumer and retail research, Nik Modi, said in a note to clients Tuesday. "We think demand challenges will likely persist well into next year."The brokerage lowered its price target on the Campbell's stock to $21 from $23 while maintaining its sector perform rating.The company's shares were up 1.4% in Tuesday afternoon trade. The stock has slumped nearly 22% so far this year.Campbell's management acknowledged that the simplification process will take time, with continued pressure in the short term, according to RBC. There was no clear timeline provided for stabilization, while the company's stock keeping unit rationalization may generate near-term revenue challenges, according to the note.For the full year, the company continues to project adjusted earnings at $2.15 to $2.25 a share, while organic sales are seen falling by 1% to 2%.The outlook now reflects the "initial impacts" from the Middle East conflict, especially higher logistics costs, Chief Financial Officer Todd Cunfer said on an earnings conference call Monday, according to a FactSet transcript. The company expects these expenses to be offset by a tariff refund benefit in the ongoing three-month period, according to Cunfer.RBC lowered its full-year EPS outlook to $2.17 from $2.20 while maintaining its expectations for organic net sales to drop 2.2%, according to the note.Campbell's is facing an operating environment that continues to be "challenging" from both a demand and cost perspective, Modi said. "Full-year guidance was maintained, though management pointed toward the lower end and indicated that (2027) could face elevated inflation throughout the year should the Middle East conflict continue."Price: $21.88, Change: $+0.39, Percent Change: +1.79%

$CPB

Sectors45d ago

Sector Update: Consumer Stocks Mixed in Afternoon Trading

Consumer stocks were mixed Tuesday afternoon, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) rising 1.1% and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) decreasing 0.2%.In sector news, Redbook US same-store sales rose by 9.1% from a year earlier in the week ended June 6 after a 9.0% year-over-year increase in the previous week, with seasonal buying accounting for a smaller share of activity than in recent weeks.In corporate news, J.M. Smucker (SJM) reported better-than-expected fiscal Q4 results on Tuesday, while the food producer's full-year earnings outlook came in above Wall Street's estimates at the midpoint. Its shares jumped past 10%.United Natural Foods (UNFI) shares fell more than 11% after the company reported fiscal Q3 net sales below Wall Street's estimates on Tuesday. The food distributor also logged double-digit declines in conventional and retail sales.Academy Sports and Outdoors (ASO) raised its full-year outlook on Tuesday as fiscal Q1 earnings topped market estimates, though the sporting goods retailer expects inflationary pressures to continue weighing on consumer spending for the rest of 2026. Its shares added 0.9%.

$ASO$SJM$UNFI

Wire45d ago

Real Messenger Closes $4 Million Public Offering

Real Messenger (RMSG) said Tuesday it closed its best-efforts public offering of about 5.7 million units at $0.70 per unit, raising roughly $4 million in gross proceeds.Each unit consists of one class A ordinary share or a pre-funded warrant and one common warrant exercisable at $0.70 per share. The common warrants expire in five years.The company said it intends to use the net proceeds for mergers and acquisitions, working capital and general corporate purposes.Price: $0.72, Change: $-0.04, Percent Change: -5.73%

$RMSG

Wire45d ago

Ashland Urged by Activist Ancora to Sell, Reuters Reports

$ASH

Oil & Energy45d ago

EMEA Oil Update: Crude Drops 4% After Iran-Israel Halt Attacks, Hormuz Transit Rises

EMEA crude futures fell 4% in after-hours trading on Tuesday as Iran and Israel signaled a pause in hostilities, easing concerns of a wider regional conflict that had threatened to unravel peace talks and further disrupt vessel traffic through the Strait of Hormuz.Brent crude futures tumbled 4.4% to $90.13 per barrel, while Murban crude futures were down 4.3% to $87.92/bbl.Soojin Kim, research analyst at MUFG, said that crude edged lower after Israel and Iran signaled their intention to maintain a fragile ceasefire following a recent escalation that threatened broader efforts to end the conflict.On Monday, President Trump reportedly said that a deal to end the Middle East conflict could be reached in two or three days, and that the Hormuz would reopen immediately after a peace deal.Trump said that the two sides are in the final stages of a very good deal that will not allow Iran to have nuclear weapons.His remarks followed an announcement by Iranian and Israeli officials that the two sides had halted hostilities. Iran's central military command, Khatam al-Anbiya, said on Monday that Tehran had ceased strikes against Israel, but warned it would resume hostilities if Jerusalem continues attacks on Lebanon.Prime Minister Benjamin Netanyahu also said Israel has halted strikes for now, but said its fight against Iran and Hezbollah is not over.Fueling bearish sentiment, US Energy Secretary Chris Wright said commercial vessel traffic and oil exports via the Strait are rising, but did not provide data on how much oil flows through Hormuz, according to media reports.However, Kpler strategists said that transit activity via the strategic waterway remained constrained between June 5 and 7, with only eight monitored crossings for both commercial and non-commercial traffic.The analysts said Hormuz is likely to remain open only under narrow, tightly managed conditions, and that it is moving further away from stabilizing or increasing flows.Meanwhile, China's overseas oil purchases fell to about 7.8 million barrels per day in May, the lowest in more than eight years.Saxo Bank analysts said China's crude oil imports fell to an eight-year low last month at 33.1 million tons, or 7.8 million b/d, as refiners increasingly drew on accumulated inventories rather than sourcing additional barrels from abroad.The May figure marks the weakest level since October 2017, reflecting what TPH analysts described as a pullback in demand following disruptions linked to the ongoing conflict.Global oil demand is now expected to fall by 1.1 million b/d in 2026, compared with 2025 levels of 104.0 million b/d, according to the US Energy Information Administration Short-Term Energy Outlook.The EIA said it projected demand would recover in 2027 as supply flows normalize, with global consumption forecast to rise by 2.5 million b/d to 105.3 million b/d.

Sectors45d ago

Sector Update: Healthcare Stocks Rise Tuesday Afternoon

Healthcare stocks were higher Tuesday afternoon, with the NYSE Healthcare Index rising 1.1% and the State Street Health Care Select Sector SPDR ETF (XLV) increasing 0.8%.The iShares Biotechnology ETF (IBB) rose 0.2%.In corporate news, GSK (GSK) said it signed a definitive agreement Tuesday to acquire Nuvalent (NUVL) for $10.6 billion in cash. GSK shares rose 0.9%, and Nuvalent surged 39%.Eli Lilly (LLY) entered into a collaboration and licensing agreement worth over $1 billion with Swedish pharmaceutical company AlzeCure Pharma for global rights to its investigative candidate for Alzheimer's disease. Lilly shares were down 0.5%.NeuroSense Therapeutics (NRSN) shares added 1% after it said Tuesday that it has been issued a patent by the Japan Patent Office for PrimeC, its lead drug candidate to treat amyotrophic lateral sclerosis.

$GSK$LLY$NRSN$NUVL

Sectors45d ago

Sector Update: Financial

Financial stocks were advancing in Tuesday afternoon trading, with the NYSE Financial Index and the State Street Financial Select Sector SPDR ETF (XLF) each adding 0.3%.The Philadelphia Housing Index was rising 2.2%, and the State Street Real Estate Select Sector SPDR ETF (XLRE) climbed 1.9%.Bitcoin (BTC-USD) was falling 2.7% to $61,381, and the yield for 10-year US Treasuries was decreasing 1 basis point to 4.542%.In corporate news, Payoneer Global (PAYO) shares surged 25% after Reuters reported the company is in advanced talks to be acquired by Canadian payments firm Nuvei for about $2.7 billion, including Payoneers cash, which implies an enterprise value of about $2.3 billion.

$PAYO

Wire45d ago

Almonty Closes Oversubscribed $700 Million Convertible Notes Offering

Almonty Industries (ALM) said Tuesday it closed its significantly oversubscribed $700 million offering of 2.25% convertible senior notes due 2031, generating net proceeds of about $772.7 million.The closing included the full exercise of a $100 million over-allotment option by initial purchasers.The notes were sold in a private placement to qualified institutional buyers.Price: $14.92, Change: $-1.53, Percent Change: -9.30%

$ALM

Sectors45d ago

Sector Update: Energy

Energy stocks were lower Tuesday afternoon, with the NYSE Energy Sector Index falling 1.5% and the State Street Energy Select Sector SPDR ETF (XLE) dropping 1.6%.The Philadelphia Oil Service Sector Index was shedding 2.4%, and the Dow Jones US Utilities Index rose 1%.Oil prices declined on Tuesday after President Donald Trump said the Iran war could end within days. Trump told reporters in New York that a diplomatic resolution to the Middle East conflict could be reached in "two or three days," CNBC reported. The critical Strait of Hormuz, which remains effective shut, would reopen "immediately" after the deal, Trump reportedly said.Front-month West Texas Intermediate crude oil fell 3.9% to $87.77 a barrel, and the global benchmark Brent crude contract dropped 3% to $91.43 a barrel. Henry Hub natural gas futures increased 0.2% to $3.15 per 1 million BTU.In corporate news, BP (BP) said Tuesday that the company will be run under a new, simplified organizational structure composed of two distinct business segments -- Upstream and Downstream -- beginning July 1. BP shares were down 2.6%.

$BP

Asia Markets45d ago

Exchange-Traded Funds Fall as US Equities Slump After Midday

Broad Market IndicatorsBroad-market exchange-traded funds IWM and IVV were lower. Actively traded Invesco QQQ Trust (QQQ) declined 3.6%.US equity indexes slumped after midday on Tuesday amid a sharp sell-off in technology, led by semiconductors.EnergyIShares US Energy ETF (IYE) and the State Street Energy Select Sector SPDR (XLE) each shed about 1.7%.TechnologyThe State Street Technology Select Sector SPDR ETF (XLK) dropped 5.5%; iShares US Technology ETF (IYW) fell 5%, and iShares Expanded Tech Sector ETF (IGM) was down 5.1%.The State Street SPDR S&P Semiconductor (XSD) declined 7.8%, and iShares Semiconductor (SOXX) slipped 6.5%.FinancialThe State Street Financial Select Sector SPDR (XLF) rose 0.3%. Direxion Daily Financial Bull 3X Shares (FAS) added 0.6%, and its bearish counterpart, Direxion Daily Financial Bear 3X Shares (FAZ), fell 0.7%.CommoditiesCrude oil fell 3.5%, and the United States Oil Fund (USO) lost 2.9%. Natural gas rose 0.2%, and the United States Natural Gas Fund (UNG) added 0.8%.Gold on Comex dipped 2.1%, and the State Street SPDR Gold Shares (GLD) lost 1.9%. Silver declined 5.5%, and iShares Silver Trust (SLV) was down 5.4%.ConsumerThe State Street Consumer Staples Select Sector SPDR (XLP) was up 1.6%. The Vanguard Consumer Staples ETF (VDC) rose 1.4%, and iShares Dow Jones US Consumer Goods (IYK) added 1.7%.The State Street Consumer Discretionary Select Sector SPDR (XLY) slipped 0.7%. VanEck Retail ETF (RTH) rose 0.4%, and the State Street SPDR S&P Retail (XRT) gained 0.4%.HealthcareThe State Street Health Care Select Sector SPDR (XLV) added 0.9%, iShares US Healthcare (IYH) gained 0.9%, and Vanguard Health Care ETF (VHT) was up 0.8%. IShares Biotechnology ETF (IBB) eased 0.2%.IndustrialThe State Street Industrial Select Sector SPDR (XLI) fell 0.7%. Vanguard Industrials Index Fund (VIS) lost 1%, while iShares US Industrials (IYJ) was 0.5% lower.CryptocurrencyIn midday activity, bitcoin (BTC-USD) dropped 3.3%. Among cryptocurrency ETFs, ProShares Bitcoin ETF (BITO) fell 3.3%, ProShares Ether ETF (EETH) lost 3.5%, and ProShares Bitcoin & Ether Market Cap Weight ETF (BETH) was 3.4% lower.

Dow Jones^EEM^EXI^FAS^FAZ^GLD^IBB^IGM^IGV^IPK^IVV^IWMNasdaq Composite^IYE^IYH^IYJ^IYK^IYW^PMR^QQQ^RTH^SOXXS&P 500^SPY^UNG^USO^VDC^VHT^VIS^XLE^XLF^XLI^XLK^XLP^XLV^XRT^XSD$BETH$BITO$EETH

Treasury45d ago

US 3-Year Auction High Yield Rises From Previous Month, Demand Higher

The US Treasury's 3-year auction hit a high yield of 4.192% on Tuesday, up from the 3.965% high in the previous auction.The bid to cover ratio for the auction was 2.64, above the 2.54 ratio in the previous auction.Dealers represented 57.45% of the bids, with direct bidders at 10.57% and indirect bidders at 31.99%.For takedown, dealers took 15.28%, with direct bidders at 21.01% and indirect bidders at 63.71%.

Sectors45d ago

Sector Update: Tech

Tech stocks were sharply lower Tuesday afternoon, with the State Street Technology Select Sector SPDR ETF (XLK) falling 4.4% and the State Street SPDR S&P Semiconductor ETF (XSD) dropping 7.4%.The Philadelphia Semiconductor index slumped 6%.In corporate news, SailPoint (SAIL) on Tuesday issued a fiscal Q2 revenue outlook indicating a sequential growth slowdown, while the cybersecurity company left its full-year profit guidance unchanged. Its shares dropped 12.4%.

$SAIL

Treasury45d ago

US 3-Year High Yield 4.192% vs 3.965% Previous; Bid/Cover 2.64 vs 2.54 Previous

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Oil & Energy45d ago