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Amazon Seen Delivering Q2 Beat on AWS Strength, BofA Securities Says

Amazon.com (AMZN) is expected to report Q2 revenue and earnings before interest and taxes above Wall Street estimates, driven by AWS growth, while Q3 guidance is likely to bracket consensus due to Prime Day timing, BofA Securities said in a note Wednesday.The investment firm raised its Q2 revenue and EBIT estimates to $198.8 billion and $24.1 billion, respectively, above consensus, and increased its AWS revenue growth estimate to 33% from 31% on stronger demand from Anthropic workloads and OpenAI models on Amazon Bedrock. The company is scheduled to report its Q2 financial results on July 30.For Q3, BofA expects Amazon to forecast revenue at $200.5 billion to $205.5 billion and operating income range of $21.5 billion to $26.5 billion, with the outlook likely to bracket Street estimates due to the timing of Prime Day.Amazon could raise its 2026 capital expenditure outlook to about $210 billion on higher memory costs, with investors expected to focus on AWS growth, cloud backlog, AI adoption and returns on AI investments, according to the note.BofA maintained its buy rating on the stock, with a price target of $310.Amazon.com shares were down 1.4% in Wednesday trading.Price: $244.08, Change: $-3.47, Percent Change: -1.40%

$AMZN

Commodities5d ago

TotalEnergies Reinstates Gasoline, Diesel Price Caps Across France

TotalEnergies (TTE) said on Wednesday it was reinstating a cap on fuel prices at its service stations across metropolitan France after renewed conflict in the Middle East pushed global petroleum product prices higher.The French energy major said it would cap the price of gasoline at 1.99 euros ($2.27) per liter and diesel at 2.25 euros per liter, restoring a policy that had been in place until June 2026.TotalEnergies also confirmed it will move forward with plans announced on June 30 to renew exceptional pricing operations during summer holiday weekends at its motorway service stations, maintaining a 1.99 euros per liter ceiling for both petrol and diesel.Furthermore, residential customers enrolled in the energy firm's "Fuel Advantage" electricity and gas program will continue to benefit from a preferential 1.99 euros per liter cap on all fuels throughout 2026.TotalEnergies said the discount will be applied at the pump and itemized on customer receipts, with the offer extended to all new residential electricity and gas subscribers.Price: $84.70, Change: $+1.17, Percent Change: +1.40%

$TTE

Commodities5d ago

India's Adani Power Reports Rise in Fiscal Q1 Power Sales

India's Adani Power on Wednesday reported it sold 28.8 billion units in fiscal Q1, up from 24.6 billion units in the corresponding year-ago period."Growth in power demand, higher operating capacity, and PPA tie-ups of previously open capacity such as the Butibori and Mutiara (Tuticorin) power plants contributed to boost power sale volumes during Q1," the company said in its earnings statement.Adani Power, a subsidiary of the Adani conglomerate, said it achieved its highest ever quarterly power generation and dispatch at 31 billion units and 28.8 billion units in Q1.India's electricity demand rose 8.8% year-on-year to 485 billion units in Q1, driven by a heat wave, while the average market clearing price on the Indian Energy Exchange's day-ahead market rose 15.7% year-on-year to 5.1 Indian rupees per kilowatt-hour, the company said.For the quarter ended June 30, Adani Power reported 18.33 gigawatts of installed capacity, compared to 17.55 GW last year.Meanwhile, the plant load factor was reported at 77.9% for Q1, up from 67% in the year-ago period.In Q1, power sales under power purchase agreements rose by 30.3% to 24.5 billion units, while tariff realization improved by 8.5% to 5.95 Indian rupees/kilowatt-hour year-on-year, the company said.Adani Power is India's largest private thermal power producer with an installed thermal power capacity of 18.29 GW, in addition to a 40 megawatt solar power plant in Gujarat.

Commodities5d ago

Market Chatter: Permian Gas Bottleneck Threatens Producers as Drilling Outpaces Pipeline Capacity

Higher oil prices earlier this year prompted Permian Basin producers to boost oil output, generating more byproduct natural gas than pipelines could handle and forcing companies to pay buyers to take the gas, according to a report from The Wall Street Journal on Wednesday.First-half Permian gas prices averaged negative $2.19 per million British thermal units, while Diamondback Energy (FANG) said its gas sales averaged negative $2.15 per thousand cubic feet during the second quarter despite strong oil prices, and Devon Energy (DVN) and APA (APA) curtailed output.Some companies have instead looked for ways to use more gas within the basin. Matador Resources (MTDR) has expanded the use of its own gas to power drilling operations, while Chevron (CVX) plans to build a gas-fired power plant in West Texas to supply electricity to a nearby Microsoft data center.Diamondback Energy, Devon Energy, APA, Matador Resources, and Chevron did not immediately reply to' request for comment.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumors and speculation. Accuracy is not guaranteed.)Price: $204.44, Change: $+4.64, Percent Change: +2.32%

$APA$CVX$DVN$FANG$MTDR

Mining & Metals5d ago

Laramide Resources Says Updated PEA Readies Westmoreland Project in Australia For Next Stage

Laramide Resources (LAM.TO) on Wednesday said an updated preliminary economic assessment (PEA) showed its Westmoreland Uranium Project in Queensland, Australia, can support a $456 million large-scale mining project.The PEA positions Westmoreland for the next stage of development and Laramide will lodge a mining lease application as soon as it is allowed to do so by the state government, a statement added.The PEA, which updated 2016 findings, calculated that Westmoreland could produce 47.9 million pounds of triuranium octoxide (U308) over an initial mine life of 11 years. The report projected a post-tax net present value discounted at 7.5% of $741.1 million and a post-tax internal rate of return of 33%."The study confirms that Westmoreland is a large-scale, technically robust uranium development opportunity. With an average annual production profile approaching five million pounds of U308, excellent metallurgical recovery and considerable scope for future optimization, we believe the Project provides a strong foundation for the next phase of engineering and project development," said Rhys Davies, vice president of exploration.Laramide shares were last seen up C$0.01, at C$0.53, on the Toronto Stock Exchange.Price: $0.51, Change: $+0.01, Percent Change: +2.00%

$LAM.TO

Wire5d ago

Hewlett Packard Enterprise Selected to Join Genesis Mission

Hewlett Packard Enterprise (HPE) said Wednesday it has been selected to participate in multiple key research and development projects in the first phase of the US Department of Energy's Genesis Mission.The projects focus on AI innovation and scientific discovery across AI model application, performance optimization, networking, cybersecurity, and water availability, the firm said.Shares were over 5% higher in morning trading.Price: $49.27, Change: $+2.55, Percent Change: +5.46%

$HPE

Asia Markets5d ago

European Equities Traded in the US as American Depositary Receipts Rise in Wednesday Trading

European equities traded in the US as American depositary receipts were tracking higher late Wednesday morning, rising 0.69% to 1,924.81 on the S&P Europe Select ADR Index.From continental Europe, the gainers were led by biopharmaceutical company Cellectis (CLLS) and petroleum refiner Equinor (EQNR), which climbed 6.8% and 4.9%, respectively. They were followed by semiconductor company Sequans Communications (SQNS) and brewing company Anheuser-Busch InBev (BUD), which advanced 4% and 2.8%, respectively.The decliners from continental Europe were led by internet browser company Opera (OPRA) and biopharmaceutical company DBV Technologies (DBVT), which dropped 3.3% and 2.9%, respectively. They were followed by telecommunications company Nokia (NOK) and software firm SAP (SAP), which lost 2.6% and 2%, respectively.The gainers from the UK were led by biopharmaceutical firm Akari Therapeutics (AKTX) and insurance firm Prudential (PUK), which rose 6.6% and 3.4%, respectively. They were followed by lender HSBC (HSBC) and telecommunications company operator Vodafone Group (VOD), which were up 2.2% each.The decliners from the UK and Ireland were led by biotech firm Trinity Biotech (TRIB) and biopharmaceutical company Biodexa Pharmaceuticals (BDRX), which shed 21% and 2.8% respectively. They were followed by pharmaceutical company Silence Therapeutics (SLN) and educational publisher Pearson (PSO), which fell 1.2% and 0.8% respectively.

$AKTX$BDRX$BUD$CLLS$DBVT$EQNR$HSBC$NOK$OPRA$PSO$PUK$SAP$SLN$SQNS$TRIB$VOD

Commodities5d ago

Correction: US Weekly Ethanol Production Rose, EIA Says

(Corrects headline and 1st paragraph to show production rose. Updates to include additional details.)US weekly ethanol production rose, according to the US Energy Information Administration report on Wednesday.For the week ending July 17, US ethanol production averaged 1.09 million barrels per day, up from last week's 1.04 million b/d and above last year's 1.08 million b/d.The four-week average output at 1.09 million b/d was below 1.08 million b/d a year ago.Midwest ethanol production averaged 1.04 million b/d, up from 976,000 b/d the previous week. Four-week average output was 1.02 million b/d, compared with 1.03 million bpd a year ago.Domestic ethanol inventories ended the week at 24.5 mmbbls, up from 24.4 mmbbls a week ago and from 24.4 mmbbls a year ago.

US Markets5d ago

Brent Briefly Tops $95 as US-Iran Tensions Remain High

Brent crude futures briefly crossed $95 a barrel on Wednesday amid escalating tensions between the US and Iran.Brent rose 3.5% to $94.18 in Wednesday trade, having hit $95.47 earlier in the day. West Texas Intermediate crude was up 3% at $86.85 a barrel.The US will destroy an Iranian bridge or power plant, including those in and around Tehran, every time it attacks ships in the Strait of Hormuz, President Donald Trump said in a social media post on Wednesday.Iran's Islamic Revolutionary Guard Corps said it hit Jordan's King Faisal and Prince Hassan bases with missiles and drones, claiming to target US military equipment in response to recent American strikes, CNN reported. The US Central Command said Tuesday it struck Iran for the 11th consecutive evening.Four more tankers changed course in the Red Sea Wednesday following threats by Yemen's Iran-aligned Houthis to attack vessels using Saudi Arabian ports, Reuters reported.The Houthis have completed preparations to target vessels near the Bab el-Mandeb Strait, which connects the Red Sea to the Gulf of Aden and Arabian Sea, according to a Joint Maritime Information Center advisory. The Bab el-Mandeb Strait is an alternative route to the Strait of Hormuz, which remains effectively closed due to tensions between the US and Iran."This is causing more worries about a global growth slowdown than worries about a renewal of inflation and inflation expectations," Thierry Wizman, global foreign exchange and rates strategist at Macquarie Group, said.Crude prices plunged in May and June, but have rallied this month as tensions between the US and Iran intensified.

Wire5d ago

Meta Platforms Set to Report Strong Q2 Amid Solid Ad Market, Wedbush Says

Meta Platforms (META) is expected to deliver strong Q2 results, driven by product improvements and a solid ad market, while artificial intelligence and capital expenditure remain key concerns, Wedbush Securities said in a note Wednesday.The tech giant is scheduled to report its Q2 results on July 29.The analysts said management reported growing user engagement with Meta AI and early positive signs for Business AI. However, beyond its advertising business, initiatives such as Meta AI/Muse Spark, Business AI, subscription tiers, a potential cloud offering, and custom AI chips are still in the early stages of development, they said.The key debate for investors remains whether Meta's significant AI and capex spending will translate into diversified sources of monetization beyond its core advertising business, "and the reason we remain on the sidelines despite Meta's valuation discount to peers," the analysts added.The analysts said they forecast revenue of $253 billion in 2026 and $301 billion in 2027. Earnings before interest, taxes, depreciation, and amortization are expected to be $146 billion in 2026 and $177 billion in 2027, while GAAP diluted earnings per share are projected at $33.02 and $34.09, respectively, they said.Wedbush has a neutral rating and a $671 price target on Meta.Price: $629.47, Change: $-14.34, Percent Change: -2.23%

$META

Wire5d ago

Ensign Group Remains Attractive on Strong Skilled-Nursing Trends, Oppenheimer Says

Ensign Group (ENSG) remains an attractive long-term investment as strong skilled-nursing occupancy, a favorable reimbursement and regulatory backdrop, and an active acquisition pipeline outweigh concerns about managed-care volumes, Oppenheimer said Wednesday in a report.The stock trades at about 11 times estimated 2027 earnings before interest, taxes, depreciation, amortization and rent, below its five-year average of 14 times and 10-year average of 12 times, Oppenheimer said. The discount offers a buying opportunity because operating trends remain solid despite recent market "noise," the report said.Same-store occupancy rose 190 basis points to a record 84.3% in Q1, while Ensign's 71 locations added since early 2025 and robust acquisition outlook provide further room for growth, the report said.Ensign's strong cash flow and balance sheet should also help it continue acquisitions and withstand economic uncertainty, the report said.Oppenheimer maintained its outperform rating on Ensign stock with a $210 price target.Price: $169.21, Change: $-1.66, Percent Change: -0.97%

$ENSG

Wire5d ago

Nike to End Online Distribution Deals in China, Bloomberg Reports

$NKE

Wire5d ago

Boeing, Lufthansa Technik Sign Agreement to Support Germany's CH-47F Chinook Helicopter Fleet

Boeing (BA) and Lufthansa Technik Defense signed an agreement outlining their roles in sustaining Germany's new CH-47F Block II Chinook heavy-lift helicopters through a network of parts warehouses to support the helicopters' operating bases, according to a Wednesday statement.No financial details were disclosed.The agreement sets the framework for the project's main contract, under which Boeing will provide its platform knowledge in delivering tailored parts provisioning, transport and warehousing for the German Armed Forces, Lufthansa Technik said.Meanwhile, Lufthansa Technik will provide its logistics expertise and manage the supply of consumables and expendables for the German Chinooks, the company added.Price: $204.96, Change: $+0.16, Percent Change: +0.08%

$BA

Wire5d ago

Logitech Seen Posting 'Decent' Fiscal Q1 Results Despite PC Headwinds, Wedbush Says

Logitech International (LOGI) is expected to post "decent" fiscal Q1 results as new products, stronger sales in China, margin expansion and growth across key categories help offset weak PC demand, Wedbush Securities said Wednesday.Wedbush expects revenue to rise 5% from a year earlier to $1.21 billion, slightly above the $1.20 billion consensus estimate and near the top of Logitech's guidance range. Gaming revenue is expected to grow 10% due to the G Pro X2 Superstrike mouse and Logitech's China-for-China initiative.The firm expects 3% growth in personal workspace products and 5% growth in video collaboration. Webcam and tablet accessory sales are expected to remain nearly unchanged. It expects adjusted earnings of $1.39 per share, compared with the $1.32 estimate. Gross margin is expected to improve to 43.7%.Wedbush kept its outperform rating and $135 price target, saying Logitech's cash position and lack of debt could support small acquisitions, stock buybacks and a larger dividend.Shares of Logitech were up more than 2% in Wednesday trading.Price: $105.23, Change: $+2.32, Percent Change: +2.25%

$LOGI

Mining & Metals5d ago

Perseverance Metals Begins Summer 2026 Drill Program at the Lac Gayot Project in Quebec

Perseverance Metals (PMI.V) has started the summer 2026 drill program at the Lac Gayot project in the James Bay region of Quebec, it said Wednesday.The project's Venus East Trend will be the primary focus area of this year's program, said the company.The 2026 program will include, among others, additional drilling of new surface mineralized zones identified through prospecting, added Perseverance Metals.The company also provided an update on the Voyageur Drill Program, Michigan, and said while the start of drilling has been temporarily delayed, it has now mobilized the rig to site and the testing of its "first, top-priority target" is slated to start this week.The company's shares last traded July 21, closing at C$0.445 on the TSX Venture Exchange.

$PMI.V

Wire5d ago

General Motors Delivers 'Clean' Q2 Beat, Morgan Stanley Says

General Motors (GM) delivered a "clean" Q2 beat and raised its 2026 EBIT guidance, while offering positive commentary on 2027 outlook, Morgan Stanley said in a note Wednesday.The report pointed to stronger pricing and cost management for the beat, and added that the higher EBIT guidance was driven by better pricing and improved warranty costs.The note also said the first high level outlook for 2027 indicates growth in revenue, EBIT, and free cash flow due among others to improving EV profitability, and digital revenue.However, the positive factors may be partially offset by the impact of higher commodity and computer memory costs as well as incremental tariff headwinds, it said.Still, the report said its software and services business has the potential to drive a "significant" re-rating in the shares.Morgan Stanley raised its price target to $101 from $100 while keeping its overweight rating on GM.Price: $82.61, Change: $+3.09, Percent Change: +3.89%

$GM

Wire5d ago

Red Cat Terminates Chief Revenue Officer

Red Cat (RCAT) said in a regulatory filing Wednesday that the board has terminated Chief Revenue Officer Geoffrey Hitchcock, effective July 23.Hitchcock was terminated for "cause" and as such was not entitled to severance benefits or acceleration of vesting of equity awards except for salary and benefits earned, the company said in the filing.Hitchcock has filed a civil complaint against the company, alleging retaliatory termination in violation of New York and Oregon law and breach of contract, while seeking compensatory damages, the company said.Red Cat said the claims are "without merit" and will defend itself vigorously, according to the filing.Price: $8.51, Change: $-0.08, Percent Change: -0.99%

$RCAT

Wire5d ago

Update: RPM International Shares Rise After Fiscal Q4 Adjusted Earnings, Revenue Beat Estimates

(Updates with stock move in the headline and first paragraph, increase to share buyback plan, fiscal 2027 sales outlook, and investor day date.)RPM International (RPM) shares were up 4.8% in Wednesday morning trading after its fiscal Q4 adjusted earnings and revenue rose year on year and beat analysts' estimates, and the company's board approved an increase to its share buyback plan.The company reported fiscal Q4 adjusted earnings Wednesday of $1.89 per diluted share, up from $1.72 a year earlier. Analysts surveyed by FactSet expected $1.83. Revenue for the fiscal quarter ended May 31 was $2.23 billion, up from $2.08 billion a year earlier. Analysts expected $2.18 billion.The company said its board approved a $700 million increase to its share repurchase program, in addition to the $114.8 million available under the previously authorized amount.RPM International also said that its guidance for fiscal 2027 is for sales to rise 3% to 7% compared to previous-year results.The company said its investor day will be on Nov. 9 to update its strategic priorities and outline its operating improvement plan.Price: $106.64, Change: $+5.11, Percent Change: +5.03%

$RPM

Equities5d ago

TotalEnergies Reinstates Fuel Price Cap in France Amid Renewed Middle East Conflict

TotalEnergies (TTE.PA, TTE.L) said Wednesday it is reinstating the price cap policy on gasoline and diesel that had been in effect until June.In response to the renewed conflict in the Middle East and rising prices for petroleum products, gasoline prices will be capped at 1.99 euros per liter and diesel at 2.25 euros per liter across all the energy group's service stations in mainland France.

$TTE.L$TTE.PA

Wire5d ago

Unity Software's Q2 Results Likely In Line With Expectations, Wedbush Securities Says

Unity Software's (U) Q2 financial results are expected to be largely in line with estimates, Wedbush Securities said in a note Wednesday.The company is scheduled to release its Q2 results on Aug. 6.On Unity's Q2 earnings call, analysts said they will be focused on management's commentary on the growth of the Vector platform, which has been framed as a compounding, back-half-weighted, runtime-data-driven opportunity.Wedbush said the continued growth of the Vector platform, the shutdown of ironSource Ad Network, and plans to divest Supersonic mean the business mix is "cleaner" and highly concentrated on Vector and the core engine.Analysts said about 60% of ironSource spend has already migrated to the Vector platform.Wedbush retained an outperform rating on the stock and raised its price target to $36 from $32.Price: $29.07, Change: $-0.81, Percent Change: -2.70%

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