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Sector Update: Consumer

Consumer stocks were mixed Tuesday afternoon, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) rising 1.6% and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) decreasing 0.9%.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 11%.

$SJM

Mining & Metals45d ago

Bullion Gold Resources Mobilizing a Field Team to Terragold Project; Upsizes Private Placement to $2 Million

Bullion Gold Resources (BGD.V) on Tuesday said a field team was mobilized to its flagship Terragold project in Quebec, within the Abitibi Greenstone Belt.The company also upsized a private placement of share units to up to $2 million from $1.5 million.The field team will prepare the ground for a drilling program expected to begin later this month."Following more than 40 years of inactivity, our recent compilation of historical data and completion of a comprehensive 3D geological model have provided a better understanding of the system and identified several high-priority targets," said Chief Executive Simon Britt. "The upcoming validation drilling program is designed not only to confirm historical high-grade gold intersections, but also to evaluate the full geochemical signature of the mineralized system, including elements associated with the quartz-feldspar porphyry and surrounding alteration zones that were not systematically analyzed during historical exploration programs."Shares of the company were last seen down $0.005 at $0.075 on the TSX Venture Exchange.Price: $0.08, Change: $-0.01, Percent Change: -6.25%

$BGD.V

Sectors45d ago

Sector Update: Healthcare

Healthcare stocks were higher Tuesday afternoon, with the NYSE Healthcare Index rising 1.3% and the State Street Health Care Select Sector SPDR ETF (XLV) increasing 0.9%.The iShares Biotechnology ETF (IBB) shed 0.3%.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%.

$GSK$NUVL

US Markets45d ago

Oracle's Core Database Business Poised For Solid Quarterly Performance, BofA Says

Oracle's (ORCL) core database business is expected to show strong performance in its fiscal fourth quarter, while the company's capital expenditures are likely to stay elevated amid the ongoing data center buildout, BofA Securities said Tuesday.The cloud computing company is scheduled to report results after the closing bell Wednesday. BofA expects non-GAAP earnings of $1.98 a share on revenue of $19.07 billion for the quarter. Wall Street is looking for $1.97 and $19.09 billion, respectively, according to the brokerage."We continue to expect solid performance from Oracle's core database business, which grew 35% (year over year) and multi-cloud database revenue up 531% (year over year) in (the third quarter), as it provides a stable foundation for free cash flow generation, supported in part by strategic partnerships announced during the quarter with Amazon (AMZN) and [Alphabet's (GOOG, GOOGL)] Google," BofA analyst Tal Liani said in a note to clients Tuesday.Oracle's results will likely show a sequential acceleration in cloud revenue growth as additional data center capacity becomes available, converting some of the company's backlog -- or remaining performance obligations -- into additional revenue, according to the brokerage.BofA raised its price target on the Oracle stock to $240 from $200, while reiterating its buy rating.The company's shares were down 6.3% in Tuesday afternoon trade. The stock has increased 1.6% so far in 2026.Oracle's capital expenditures are expected to remain elevated, with the metric seen growing 21% to $11 billion in the fourth quarter and 36% to $68.3 billion in 2027, as the company continues to invest aggressively in data center capacity to meet its backlog commitments and overall demand for compute, according to BofA."While these trends reinforce underlying demand and ecosystem expansion, we do not expect core strength alone to offset the near-term impact of elevated capex on free cash flow," Liani said.BofA said it's focused on Oracle's potential remarks around its $20 billion at-the-market equity program announced earlier this year. The brokerage expects the company to need to raise an additional $35 billion over the next few years "given the cost intensity nature of the (data center) buildout," Liani said.Price: $198.12, Change: $-13.70, Percent Change: -6.47%

$AMZN$GOOG$GOOGL$ORCL

Sectors45d ago

Trump Says US Must Respond to Iran Helicopter Attack

President Donald Trump said Tuesday in a Truth Social post that the US must respond to an attack by the Iranian military that downed an American helicopter patrolling the Strait of Hormuz.Trump said both helicopter pilots "are safe and uninjured."

Mining & Metals45d ago

Edge Copper Closes a Public Offering and Concurrent Private Placement, Raising $23.04 Million

Edge Copper (EDCU.V) on Tuesday said it closed an overnight marketed offering and concurrent private placement that raised $23.04 million.The offering consisted of around 32.74-million shares priced at $0.58 each, including 2.58-million shares from the underwriter's over-allotment option, raising $19 million.Concurrent with the closing of the public offering, the company completed a non-brokered private placement of 6.97-million shares to purchasers, including insiders of the company, at a price of C$0.58 each, for gross proceeds of $4.05 million.Proceeds will primarily be used to advance exploration and development of its wholly-owned Zonia Copper Project in Arizona.The company's shares were last seen up $0.01 to $0.55 on the TSX Venture Exchange.Price: $0.55, Change: $+0.01, Percent Change: +1.85%

$EDCU.V

US Markets45d ago

Oil Falls as Trump Says Iran Deal is Days Away

Oil prices declined on Tuesday after US President Donald Trump said the Iran war could end within days.West Texas Intermediate crude oil was down 5.7% at $86.08 a barrel, while Brent was last down 4.8% to $89.70.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.Trump has previously said on a number of occasions that an end to the conflict was imminent.Iran and Israel launched direct attacks against each another over the weekend, testing an already fragile ceasefire between Washington and Tehran. Iran and Israel, however, suspended strikes against each other on Monday.The global crude market has already lost 1 billion barrels of supply since the Iran war began at the end of February, Rystad Energy said in a note."Cumulative losses have now reached 1 billion barrels and are on track to nearly double by year-end under our base case, which still assumes a narrow US-Iran deal in June and a phased reopening of the Strait of Hormuz from mid-July," Aditya Saraswat, Middle East and North Africa research director at Rystad, said in a note.That base case is now under pressure, Saraswat said."Despite a fragile memorandum of understanding between the US and Iran that had raised hopes of a deal, both sides have since returned to air strikes, narrowing the diplomatic track and widening the tail risk of a prolonged shock," he added.

Commodities45d ago

EMEA Natural Gas Update: Prices Ease on Ceasefire between Iran and Israel

European natural gas futures fell further in after-hours trading on Tuesday following Iran and Israel's agreement to a ceasefire, easing some concerns over ongoing disruptions to energy supplies.The Dutch TTF front-month contract fell 2.862% to 48.40 euros ($55.88) per megawatt-hour, while the UK NBP front-month contract declined 3.344% to 116.50 British pence ($1.56) per therm.Market sentiment eased following the ceasefire announcement, although geopolitical risks remained in focus. Iran on Tuesday warned Israel against continuing military operations in Lebanon after Israeli forces carried out fresh strikes on the southern Lebanese city of Tyre earlier in the day, CNN reported.Prices also eased on multiple news reports that a fifth Qatari liquefied natural gas cargo exited the Strait of Hormuz, reinforcing expectations that supply bottlenecks are easing and allowing inventories to be replenished ahead of the winter heating season.Currently, EU inventories were pegged at 42.48% of capacity, versus 50.97% a year ago, Gas Infrastructure Europe said. Inventories were also significantly below the five-year average of 56.7%, the Swiss Federal Office of Energy said Tuesday.European LNG imports remained stable last week at 2.0 million tonnes across 35 cargoes, broadly in line with the four-week average, according to data from Vortexa.However, LNG arrivals into France and Italy fell to around two-year lows. France received 0.2 million tonnes across three cargoes, while Italy imported 0.1 million tonnes in two cargoes. Maintenance work at France's 8-million-tonnes-per-annum Montoir LNG terminal is expected to conclude on June 9-10, while the similarly sized Fos Cavaou terminal is scheduled to undergo maintenance June 13-29, Vortexa said.In contrast, German LNG imports rose to 0.3 million tonnes across five cargoes, the highest weekly level since March, but EU LNG send-out averaged 3,400 gigawatt-hours per day during the week, down about 12% from May's average, Vortexa said.

Oil & Energy45d ago

Trump Sees Iran Agreement in 1-2 Days, Says US Blockade Remains Fully Effective

US President Donald Trump said Tuesday that a potential agreement with Iran could come within one or two days as negotiations continue.Trump made the remarks while interacting with reporters in New York's John F Kennedy International Airport."We have ongoing negotiations [with Iran] that hasn't stopped and we could have at least an idea by one or two days from now, but I think it's going well," Trump said.He said Iran could secure an agreement by committing not to pursue nuclear weapons, which would allow the strait to reopen immediately."The strait will open up right away. It'll open up immediately upon signing, which could be in two or three days," Trump said.Trump added that the US maritime blockade remains fully effective, preventing oil and other revenue-generating flows from reaching Iran."The blockade continues to hold 100%. Nothing is getting through our blockade. No oil, no income, no nothing. Nothing's getting through the blockade," Trump said.Trump said negotiators are close to an agreement but maintained that military action remains an option if diplomacy fails."We should be able to do it in one hour," Trump said, before adding that additional bombing over the next two or three weeks could leave significant damage while keeping the strait closed for months.Trump said a recent conversation with Israeli Prime Minister Benjamin Netanyahu went well, adding that Israel responded after coming under attack.Trump added that he encouraged Netanyahu to end hostilities as quickly as possible, adding that the conflict's connection to Lebanon makes a resolution necessary.Asked about oil markets, Trump said crude continues to move through the Strait of Hormuz, adding that current prices remain lower than during the Biden administration while criticizing the earlier Joint Comprehensive Plan of Action as a failed agreement.

Sectors45d ago

Trump Says US Must Respond to Iran Helicopter Attack

Treasury45d ago

Most in Vancouver, Toronto Say World Cup Matches Not Worth Public Costs Despite Promises of Economic Gains

Before a single ball is kicked, a single substation made or a single red card shown, the pre-game rituals of people living in Canada's two World Cup host cities, Vancouver and Toronto, include more pessimism and criticism than cheer and song, finds an Angus Reid Institute survey published on Tuesday.The new data finds seven-in-10 in both Greater Toronto (70%) and Metro Vancouver (72%) saying the public costs of reportedly $1 billion apiece in funding across multiple levels of government are not worth the trade-offs of hosting the world, and the World Cup, in their home cities.At issue for city residents: disruption, street closures, and security perimeters; lopsided accrual of revenue to the Federation Internationale de Football Association (FIFA), soccer's global governing body; and a rearrangement of their city's summer cultural and event calendar that many view as an unacceptable requirement of hosting.In both Vancouver and Toronto, there are more who say they are disinterested in watching the matches in any way, 51%, 59% respectively, than are excited the World Cup is coming to their cities ,34%, 39% respectively.More in the GTA believe hosting the World Cup is a poor investment for Toronto (47%) than a good one (20%); the same goes for those in Metro Vancouver (51%, 21%).

$CXY

Japan45d ago

US Equity Indexes Sink as Big-Tech Craters in Midday Trading

US equity indexes slumped after midday on Tuesday amid a sharp sell-off in technology, led by semiconductors.The Nasdaq Composite dropped 2.3% to 25,334.1, with the S&P 500 down 1.4% to 7,303.2, and the Dow Jones Industrial Average lower by 0.7% to 50,442.3 in Tuesday's midday trading.Technology and energy were standout decliners, down 3.4% and 2.3%, respectively. Marvell Technology (MRVL), Arm (ARM), and Qualcomm (QCOM) declined by at least 8.8% each, making them the worst-performing three stocks among companies with market capitalizations exceeding $200 billion, according to data compiled by Finviz.The real estate and consumer staples sectors led the gainers.West Texas Intermediate crude oil futures sank 4.6% to $87.13, and Brent crude futures dropped 4% to $90.52."Oil gave back most of Monday's gains after Israel and Iran halted hostilities that had threatened to derail already fragile efforts to secure a broader peace agreement in the Middle East," Saxo Bank wrote in a note. "US President Donald Trump, meanwhile, maintained his typically optimistic tone, saying negotiations are in the 'final throes' of what he expects will be a successful deal."Most US Treasury yields fell, with the 10-year down 2.2 basis points to 4.53% and the two-year dropping 3.4 basis points to 4.12%.

Dow JonesNasdaq CompositeS&P 500$ARM$MRVL$QCOM

Wire45d ago

Jefferies Adjusts Eli Lilly Price Target to $1,350 From $1,330, Maintains Buy Rating

$LLY

Treasury45d ago

Canadian Dollar Rally Likely Requires Canada to Clinch Trade Deal With U.S., Says National Bank

The Canadian dollar (CAD loonie) has been the weakest reserve currency in recent weeks, as Canada's deteriorating real growth profile, unfavorable Canada-United States two-year spreads and declining bullion prices weigh on the currency, said National Bank of Canada.Full-time employment at a record high makes it hard to call Canada a recession story, but a sustained Canadian dollar rally will likely require Ottawa to secure a trade accord with the United States this summer, pointed out the bank.

$CAD$CXY

Wire45d ago

Tutor Perini Unit Secures $114 Million Contract to Build University of Mississippi Academic Facility

Tutor Perini (TPC) said Tuesday its subsidiary Roy Anderson has been awarded a $114 million contract for the Jones Hall Project at the University of Mississippi.The project calls for the construction of a four-story, approximately 110,000-square-foot building that will house the Patterson School of Accountancy, the company said.Construction is set to begin this month, with substantial completion expected in December 2028, the company said, adding that the contract value will be added to the company's backlog in Q2.Price: $70.69, Change: $-1.44, Percent Change: -2.00%

$TPC

Treasury45d ago

Markets Ignore the As Expected Merchandise Trade Surplus in Canada, Says CIBC

A further gain in Canadian exports brought a wider trade surplus in April, even after a pullback in gold trade took some of the shine off, CIBC said Tuesday.The further gain in export volumes at the start of Q2, following a solid rise in March, will mean that net trade should be a positive for quarterly GDP and support a rebound in economic activity following two marginal contractions.The Canadian merchandise trade surplus of $2.72 billion in April was wider than the $1.75 billion in the prior month but broadly in line with consensus expectations of $2.55 billion, said CIBC.Markets were unchanged by Tuesday's data, which was largely in line with consensus expectations, noted the bank.Recent trade data suggest that Canadian exports have largely recovered to pre-2025 levels, although still with some weakness in sectors hit hardest by United States tariffs. However, with tariff uncertainty remaining as CUSMA renegotiations drag on, further upward momentum will likely be limited in the near-term.While net trade will likely be a solid contributor to Q2 gross domestic product, it may not continue into the second half of the year if trade uncertainty persists, added CIBC.

$CXY

Wire45d ago

Textron's Kautex Unit Wins Business Award for Pentatonic Battery Enclosure System

Textron's (TXT) Kautex Textron unit said Tuesday it won a new business award for its Pentatonic battery enclosure system.Financial details weren't provided.The company said it will deliver to an unnamed automotive original equipment manufacturer the full battery enclosure system with a top cover, bottom tray and thermal management solution for a multi-vehicle platform.Production will be localized in North America, with manufacturing planned for 2028 using a highly automated production process, Kautex Textron said.Price: $91.90, Change: $+0.47, Percent Change: +0.52%

$TXT

Wire45d ago

Global Mofy AI to Implement 1-for-50 Reverse Stock Split on June 11

Global Mofy AI (GMM) will implement a reverse stock split of its class A and class B ordinary shares at a 1-for-50 ratio on Thursday, the company said Tuesday.The reverse stock split will reduce the number of outstanding class A shares to around 1.8 million from 89.6 million and class B shares of GMM to about 0.2 million from 8.2 million, the company said.Price: $0.12, Change: $+0.03, Percent Change: +28.43%

$GMM

Mining & Metals45d ago

Medaro Mining Starts Ground Fieldwork at Clay Howells West Rare Earth Element Project

Medaro Mining (MEDA.CN) on Tuesday said it started ground fieldwork at its Clay Howells West rare earth element (REE) project in northern Ontario.The work is intended to support target generation and prioritization for possible follow-up exploration, it said. The current field program is expected to include ground-based radiometric surveying using portable radiometric instruments, which may include a gamma-ray spectrometer or scintillometer, to measure total count radioactivity and, where instrument capability permits, potassium, uranium and thorium values.It may also include reconnaissance geological mapping and prospecting, targeted rock sampling, soil geochemical sampling over accessible target areas and follow-up grids, and integration of geological, radiometric and geochemical data to define and rank priority exploration targets. The Phase 1 program is expected to collect about 50 to 100 rock samples and about 100 to 200 soil samples, subject to field conditions, access, exposure, and logistical considerations, the company said.Samples collected during the program will be submitted to an accredited laboratory for multi-element analysis, it added.Shares of the company were last seen unchanged at $0.40 on the Canadian Securities Exchange.

$MEDA.CN

Wire45d ago

RideNow Reports Opening New Facility for RideNow Tallahassee

RideNow Group (RDNW) reported Tuesday the opening of a new facility for RideNow Tallahassee.The firm said the dealership has tripled its footprint to 27,000 square feet, creating a comprehensive destination to support the needs of the Florida Panhandle riding community.Price: $7.22, Change: $-0.01, Percent Change: -0.14%

$RDNW

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US Markets45d ago

Oracle's Core Database Business Poised For Solid Quarterly Performance, BofA Says

$AMZN$GOOG$GOOGL$ORCL