Financial News · Live Terminal

Page 1176 of 3006

Market Chatter: Meta Weighing Tens of Billions in Stock Offering to Fund AI Ambitions

Meta Platforms (META) is mulling raising tens of billions of dollars through a share sale to fund surging artificial intelligence capital expenditure, which could reach $145 billion this year and climb further in 2027, the Financial Times reported Friday, citing three people familiar with the matter.Meta Chief Financial Officer Susan Li and President Dina Powell McCormick are leading the talks, which intensified following Alphabet's (GOOGL, GOOG) $85 billion equity raise this week, the report said.Meta has not yet hired banks and may ultimately not proceed with a stock sale, with one person cautioning it was "premature" to say a decision had been made, according to the report.A Meta spokesperson called the stock offering talks "pure speculation," the report added.Meta did not immediately respond to a request 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: $594.19, Change: $-33.38, Percent Change: -5.32%

$GOOG$GOOGL$META

Wire47d ago

Chipotle Mexican Grill Shares Rise After JPMorgan Upgrade

Chipotle Mexican Grill (CMG) shares were up more than 4% in Friday trading after JPMorgan upgraded the stock to overweight from neutral.Trading volume stood at over 23.5 million shares, against a daily average of roughly 16.9 million.Price: $29.56, Change: $+1.38, Percent Change: +4.88%

$CMG

Oil & Energy47d ago

Eskom, ZET Sign Agreement Backing South Africa's Gas-to-Power Plans

Eskom secured foundation customer status at the proposed Zululand Energy Terminal to support its planned 3,000-megawatt gas-to-power program, the companies announced Friday.A newly signed Heads of Agreement establishes a framework for long-term cooperation between Eskom and Zululand Energy Terminal on liquefied natural gas import, storage, and regasification infrastructure, according to the statement.Zululand Energy Terminal, a joint venture involving Vopak Terminal Durban, Reatile Group, and Transnet Pipelines, holds a concession from Transnet National Ports Authority to develop and operate the LNG facility.The partnership aims to expand South Africa's gas infrastructure network, strengthen energy security, and support economic growth while providing flexible generation capacity to complement renewable energy sources, the statement said.Eskom plans to build and operate its 3,000-megawatt Richards Bay gas-to-power project in the Richards Bay Industrial Development Zone in KwaZulu-Natal, using regasified LNG as the plant's primary fuel.The project is expected to operate for 25 years as a mid-merit power plant and holds strategic integrated project status under the Infrastructure Development Act 23 of 2014 and the Integrated Resource Plan 2025.Eskom Group Chief Executive Dan Marokane said securing foundation customer status at the terminal provides a key enabler for the company's 3,000-megawatt gas program, which is intended to support grid reliability and renewable energy integration.Zululand Energy Terminal Director Oliver Naidu said Eskom's participation strengthens the terminal's commercial foundation and supports plans to reach a terminal use agreement, achieve financial close and deliver South Africa's first LNG import terminal.South Africa's Integrated Resource Plan 2025 targets 6,000 MW of gas-fired capacity by 2030, including 3,000 MW from the gas independent power producer program and 3,000 MW from Eskom, while also using gas to improve grid stability, reduce diesel consumption and address the country's anticipated gas supply shortfall.

Wire47d ago

Suncor Energy Shares Fall After Goldman Sachs Downgrade

Suncor Energy (SU) shares were down 4.3% in Friday afternoon trading after Goldman Sachs downgraded the company to neutral from buy and raised its price target to CA$100 ($71.70) from CA$98.56.Trading volume stood at over 2.4 million shares compared with a daily average of about 4.4 million shares.Price: $62.67, Change: $-2.80, Percent Change: -4.28%

$SU

Wire47d ago

Street Color: Meta Platforms Weighs Share Sale to Raise Billions, Financial Times Reports

$META

Wire47d ago

Lululemon's Earnings Pressure to Persist Into 2027, UBS Says

Lululemon athletica's (LULU) weak product assortment and soft traffic trends won't be resolved anytime soon, making any stock pullback following its disappointing Q1 results a poor buying opportunity, UBS Securities said Friday in a report.With new CEO Heidi O'Neill not starting until September, UBS said it sees no meaningful recovery before H2 2027, adding that higher marketing spending is unlikely to help this year given the company lacks compelling product to promote.Lululemon's growth trajectory may deteriorate further as the company pulls back on promotions in the back half of fiscal 2026, even as management's guidance assumes sales growth rates hold steady, the report said.UBS cuts its price target on lululemon stock to $124 from $153 and maintained its neutral rating.Price: $114.50, Change: $-10.42, Percent Change: -8.34%

$LULU

Wire47d ago

EHang Shares Fall After UBS Downgrade

EHang (EH) shares were down about 15% in Friday trading after UBS downgraded the stock to neutral from buy in the previous day.Trading volume stood at over 2.3 million shares, against a daily average of about 646,000.Price: $7.88, Change: $-1.35, Percent Change: -14.63%

$EH

Sectors47d ago

Update: WTI Oil Falls Even as Israel Continues Striking Lebanon Despite Ceasefire Deal

West Texas Intermediate (WTI) crude oil closed down 2.7% on Friday with little change in the outlook for a settlement to the U.S. war on Iran as Israel continued strikes at Lebanon despite reaching a ceasefire with the country a day earlier.WTI crude oil for July delivery closed down US$2.50 to settle at US$90.54 per barrel, while August Brent oil was last seen down US$1.99 to US$93.04.Oil fell more than 3% on Thursday after reports Israel and Lebanon agreed to a U.S.-brokered ceasefire, one of Iran's key demands for agreeing for a deal of its own to end the war with the United States and reopen the Strait of Hormuz. The key Strait has been closed since the United States and Israel launched strikes on Iran on Feb. 28, blocking the 20% of daily oil demand supplied by Persian Gulf nations.Peace talks between the United States and Iran that could open the waterway have been stalled and a ceasefire was tested earlier this week as the two sides traded strikes. The Israel-Lebanon agreement was seen as a potential avenue to reopening negotiations, however Al Jazeera on Friday reported Israel is continuing attacks in Lebanon, raising doubts the deal will hold, while Iran on Friday fired warning strikes at U.S. warships.The lack of Persian Gulf supply has left the Asian nations struggling to replace the lost barrels, while U.S. exports have surged, cutting into its inventories."Crude oil trades softer but remains near the upper end of Brent's recent USD 90-100 range after the Israel-Lebanon ceasefire announcement. The move follows another day of US and Iranian military action across the region. While flows through the Strait of Hormuz remain severely disrupted, global supply buffers continue to shrink. In the US, a sixth consecutive weekly inventory draw saw stockpiles at Cushing, the delivery hub for WTI futures, fall to 22.4 million barrels, edging closer to levels widely considered near the operational minimum," Saxo Bank said in a Thursday note.

$CLN6$LCOQ6$USO

Wire47d ago

Market Chatter: KKR, Brookfield Asset Management in Talks to Invest in Switch's Fundraising Round

KKR (KKR) and Brookfield Asset Management (BAM) are among investors in discussions with Switch to invest in the data center developer's fundraising round at a valuation of at least $50 billion, The Information reported Thursday, citing people familiar with the matter.The fundraising round could set up Switch for an initial public offering, which could happen as early as 2027, according to the report.KKR and Brookfield Asset Management did not immediately respond to a request 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: $93.24, Change: $-2.22, Percent Change: -2.33%

$BAM$KKR

Sectors47d ago

July WTI Crude Oil Contract Closes Down US$2.50; Settle at US$90.54 per Barrel

$CLN6$LCOQ6$USO

Wire47d ago

Update: Almonty Shares Fall After Pricing $700 Million Convertible Notes Offering

(Updates with the latest stock movement in the headline and the first paragraph.)Almonty Industries (ALMS) shares were down more than 19% in Friday trading after the company said it priced a private offering of $700 million worth of 2.25% convertible senior notes due 2031.The notes will have an initial conversion rate of 36.495 common shares per $1,000 in principal amount of notes, representing an initial conversion price of about $27.40 per share.The company granted initial purchasers a 13-day option to purchase up to $100 million worth of notes.The issuance and sale of the notes are scheduled to settle Monday.Net proceeds from the offering are estimated to be about $675.9 million, or about $772.7 million if the initial purchasers fully exercised their overallotment option.The company said it intends to use about $83 million of the proceeds to fund the costs of entering into capped call transactions, while about $50 million will be used to refinance existing debt, with the remainder to be used for working capital and general corporate purposes.Price: $16.70, Change: $-3.98, Percent Change: -19.25%

$ALM

Wire47d ago

Update: DocuSign Shares Fall Following Fiscal Q1 Results

(Updates with latest stock movement in the headline and lede.)DocuSign (DOCU) shares were down 5.7% in Friday afternoon trading, a day after the company posted its fiscal Q1 results.The company reported fiscal Q1 non-GAAP net income late Thursday of $1.09 per diluted share, up from $0.90 a year earlier.Analysts polled by FactSet expected $0.99.Revenue in the three months ended April 30 rose to $830.2 million from $763.7 million a year earlier.Analysts expected $824.7 million.DocuSign expects Q2 revenue of $865 million to $869 million. Analysts project $866.1 million.The company expects full-year revenue of $3.49 billion to $3.502 billion, up from the prior forecast of $3.484 billion to $3.496 billion. Analysts project $3.49 billion.Price: $48.05, Change: $-2.89, Percent Change: -5.67%

$DOCU

Commodities47d ago

T1 Energy Targets BESS Growth Through $32 Million KORE Power Purchase

T1 Energy agreed to acquire KORE Power in a transaction valued at about $32 million, expanding into battery energy storage and data center infrastructure markets, the company said Wednesday.The purchase price includes equity, cash, and assumed debt, while T1 expects to complete the transaction during the second quarter of 2026, subject to customary closing conditions and shareholder approval.Through the acquisition, T1 will gain access to KORE's NRI division, which designs, installs, and operates utility-scale battery energy storage systems and software solutions, according to the company.Over more than 50 years, NRI has supported government, utility, and industrial customers and deployed about 1,100 battery energy storage projects globally, T1 said.Following the closing, T1 plans to rename KORE Power as T1 NRI and use the business to broaden its customer base for solar and storage solutions.Rystad Energy projects that US utility-scale battery energy storage capacity will increase to 143 gigawatt-hours by 2035, up from an installed base of 45 GWh today, highlighting growth opportunities in the sector.T1 expects the acquisition to generate positive EBITDA in 2026 and contribute about $15 million to $20 million of EBITDA in 2027, while the agreement also includes a potential equity-based earnout of up to $9.6 million tied to fiscal 2026 and 2027 performance.Chief Executive Officer Dan Barcelo said NRI's experience, customer relationships and focus on battery energy storage systems align with T1's strategy to strengthen domestic solar and battery supply chains.KORE Power Chief Executive Officer Jay Bellows said the combination will offer customers a single provider for power generation, energy storage, system design and ongoing operations.

Wire47d ago

Update: Merlin Shares Surge After Critical Design Review Completed for C-130J Autonomy Program

(Updates with recent stock movement in the headline and the first paragraph.)Merlin (MRLN) shares were up more than 27% in Friday afternoon trading after the company said late Thursday that it completed the critical design review for its C-130J autonomy program with the US Special Operations Command.This milestone showed the aircraft's autonomous capability and the potential reduction in crew workload during flight, Merlin said.Under the contract, Merlin is advancing its artificial intelligence-powered autonomy stack onboard the C-130J, it said.Price: $9.12, Change: $+1.94, Percent Change: +27.06%

$MRLN

Commodities47d ago

Glenfarne Puts Alaska LNG Project Cost at Up To $54.5 Billion as Lawmakers Weigh Tax Break Bill

Glenfarne, developer of the proposed 20 million-ton-per-year Alaska LNG project, released its first public cost estimates for the 800-mile pipeline and related infrastructure, placing the full project between $44.5 billion and $54.5 billion, Alaska Public Media reported on Thursday.The company reportedly told Alaska state senators on Wednesday that the pipeline segment alone would cost $13.2 billion to $16.9 billion. Glenfarne Alaska head Adam Prestidge presented the figures to the Senate Finance Committee as lawmakers weigh tax incentives during a special session called by Gov. Mike Dunleavy.Glenfarne owns 75% of the Alaska LNG project, and the State of Alaska, through the Alaska Gasline Development Corporation, owns 25%.The estimates come amid deep skepticism in the Legislature, where members have resisted advancing tax breaks without clearer assurances on costs, state benefits, and long-term impacts on Alaska's strained finances. Just a day earlier, Glenfarne had declined to release internal estimates, citing concerns about supplier and customer negotiations, the news outlet said.Lawmakers have also questioned the state Department of Revenue's projections that put total costs near $46 billion. Consulting firm Pegasus-Global warned legislators Tuesday that LNG megaprojects frequently exceed budgets, citing research indicating roughly two-thirds run over, with average overruns near 70%, the report said.Prestidge said the company's figures were based on engineering studies, vendor bids, economic conditions, and experience with similar developments. After discussions with Senate Finance co-chairs, he said Glenfarne opted to disclose a range "to thread the needle of appropriate disclosure."The company maintains that the state would not be responsible for cost overruns. Still, legislators voiced concern that higher costs could ultimately be passed on to Alaska consumers, since the project's first phase is expected to supply in-state markets.Anchorage Sen. James Kaufman said the issue still affects ratepayers even if the developer bears direct financial risk.Glenfarne also proposed adding language to the tax bill barring cost overruns from being passed to the state or regulated utility customers. Gov. Dunleavy has said he supports protections ensuring neither the state nor ratepayers are exposed.The company said it has a price agreement with Alaskan utility Enstar for gas capped at $16 per thousand cubic feet, indexed to inflation. While potentially competitive with imports, that price remains above current local levels and would not ease until new demand comes online.Glenfarne did not immediately respond to a request for comment by.The special session runs through June 19, with Dunleavy signaling he will continue calling lawmakers back until a deal is reached.

Insider Trading47d ago

RBC Bearings Insider Sold Shares Worth $355,695, According to a Recent SEC Filing

Edward Stewart, Director, on June 03, 2026, sold 600 shares in RBC Bearings (RBC) for $355,695. Following the Form 4 filing with the SEC, Stewart has control over a total of 21,337 common shares of the company, with 21,337 shares held directly.SEC Filing:https://www.sec.gov/Archives/edgar/data/1324948/000132494826000026/xslF345X05/primary_01.xmlPrice: $587.54, Change: $-2.23, Percent Change: -0.38%

$RBC

Oil & Energy47d ago

US Oil Update: Crude Falls as Markets Weigh Demand Destruction, Iran Peace Deal

Crude oil futures edged lower in midday trading on Friday as investors weighed signs of weakening global demand against the diminishing prospects for a swift breakthrough in peace negotiations between the US and Iran.Front-month West Texas Intermediate crude futures fell 3.17% to $90.10 per barrel, while Brent futures retreated by 2.23% to $92.91/bbl.Soojin Kim, a research analyst at MUFG, said that Trump said talks with Iran were progressing well and that efforts to end the conflict were in their final stages, though no breakthrough has yet been announced.US crude oil inventories decreased by 8 million barrels to 433.7 mmbbls in the week ended May 29, the Energy Information Administration said in its weekly report on Wednesday. Crude inventories are now about 3% below the five-year average for this time of year, the EIA said.The decline exceeds Macquarie's forecast of a 6.2-mmbbl draw for the week ending May 29.ING strategists said that, aligned with the inventory-tightening narrative, Singapore oil product stocks dropped by a significant 6.14 million barrels over the last week.The US and Iran remain at loggerheads over a potential peace deal, with the Middle East conflict nearing the 100-day mark and Tehran claiming sovereignty over the Strait of Hormuz alongside Oman.Iran's navy said on Friday that it had fired warning missiles and drones at US warships in the Gulf of Oman, accusing the US Navy of harassing maritime traffic and seizing commercial vessels and oil tankers, according to local media.On Thursday, President Trump said that talks with Iran were going well, despite Tehran-backed Hezbollah rejecting a US-brokered ceasefire deal between Israel and Lebanon. Iran has indicated that any wider agreement with Washington would partly depend on an end to hostilities between Israel and the Iran-backed Hezbollah movement.Iran's Islamic Revolutionary Guard Corps also reportedly said peace in the region would not be possible unless Israel withdrew from the occupied areas in Lebanon.Kim said despite recent gains, crude prices remain well below levels seen before the April ceasefire, reflecting continued uncertainty over the pace of any lasting regional resolution.Meanwhile, the US on Friday sanctioned a network of individuals, companies, and vessels it accused of facilitating the shipment of hundreds of millions of dollars' worth of Iranian liquefied petroleum gas, disguised as Omani-origin cargo, to buyers in South and East Asia.The Treasury Department said the latest action is part of a broader "maximum pressure" campaign to restrict Iran's ability to generate and repatriate revenue from oil and petrochemical exports, as well as from emerging channels such as cryptocurrency.

US Markets47d ago

Equities Fall, Yields Jump Intraday After Jobs Report; Tech Leads Sell-Off

US benchmark equity indexes were lower intraday amid a technology sector-led sell-off, while Treasury yields jumped as markets parsed the latest official jobs report.The Nasdaq Composite was down 3.2% at 25,950.7 after midday Friday, while the S&P 500 fell 2% to 7,434.3. The Dow Jones Industrial Average shed 0.9% to 51,109, after closing at a record high in the previous session.Tech saw the steepest drop among sectors intraday Friday, down 4.7%, while consumer staples paced the gainers.IBM (IBM) shares dropped 6%, the worst performer on the Dow. Cisco Systems (CSCO) and Nvidia (NVDA) followed IBM on the index, down 5.8% and 5.6%, respectively. Several other big tech names also fell. These included Microsoft (MSFT), Oracle (ORCL), Salesforce (CRM), Qualcomm (QCOM), Micron Technology (MU), Advanced Micro Devices (AMD), and Super Micro Computer (SMCI), which tumbled 11% -- the second-worst performer on the S&P 500.In economic news, total nonfarm payrolls in the US rose by 172,000 in May, the Bureau of Labor Statistics said, nearly double the 88,000 increase expected in a Bloomberg-compiled survey."Overall, this was a solid employment report," TD Economics said in a report. "Not only did headline payrolls come in stronger than expected, but revisions to prior months were meaningfully higher and well above six-and-twelve-month averages, suggesting some reacceleration in hiring activity."US Treasury yields were higher intraday, with the 10-year rate up 7.1 basis points at 4.55%, and the two-year rate soaring 11.9 basis points to 4.17%.Markets widely expect the Federal Reserve to leave interest rates unchanged later this month, which would mark its fourth straight pause, according to the CME FedWatch tool."Most (Federal Open Market Committee) participants have said they would prefer to remove the easing bias in the FOMC statement on account of rising inflation risk, and this (jobs) report should reinforce that shift," Morgan Stanley said in a note. "We read this employment report as indicating the Fed can and will remove its easing bias in June."West Texas Intermediate crude oil was down 3.2% at $90.03 a barrel intraday, while Brent fell 2.3% to $92.82.A potential US-Iran peace deal hinges on the Trump administration agreeing to release $24 billion in frozen Iranian assets, CNN reported Friday, citing Mohsen Rezaei, military adviser to Supreme Leader Ayatollah Mojtaba Khamenei."The negotiations are at a deadlock, and (US President Donald) Trump must break this deadlock," Rezaei reportedly said. "The ball is in Trump's court."In company news, FedEx Freight (FDXF) shares jumped 7.8% intraday, the best performer on the S&P 500, as Stifel initiated the stock at hold, with a $160 price target.Gold was down 3.1% at $4,367 per troy ounce, while silver dropped 6.5% to $69.13 per ounce.

Dow JonesNasdaq CompositeS&P 500$AMD$CRM$CSCO$FDXF$IBM$MSFT$MU$NVDA$ORCL$QCOM$SMCI

International47d ago

Cargo Traffic to Los Angeles Port Expected to Rise in Week Ending June 20

Cargo traffic at the Port of Los Angeles is expected to rise in the week ending June 20, according to data from ship-tracking system Port Optimizer.A total of 126,619 20-foot equivalent units, a standardized measure of cargo capacity, are projected to reach the port in the week, the data showed. That volume reflects a 3.6% increase from the previous week and a 13% rise from a year earlier.Twenty-three freight vessels are scheduled to arrive at the port in the week ending June 20, the data showed. That compares with 21 vessels scheduled this week and in the week ending June 13.US President Donald Trump signed a proclamation earlier this week lowering the tariffs on agricultural equipment and certain other equipment to 15% from 25%, the White House said.

Mining & Metals47d ago

Primary Hydrogen Shares Rise 33% as It Seeks $2.4 Million From a Private Placement of Share Units

Primary Hydrogen (HDRO.V) shares were last seen up by a third after it said late Thursday it is raising up to $2.4 million from a non-brokered private placement of share units.The company is placing up to 4-million units, priced of $0.60 each and made up of a share and a two-year warrant to buy a share for $0.80..The company plans to use the proceeds for general working capital and general administrative purposes. It may also use a portion of the net proceeds to acquire additional exploration properties if suitable opportunities arise, the company added.The company's shares were last seen up $0.25 to $1.00 on the TSX Venture Exchange.Price: $1.00, Change: $+0.25, Percent Change: +33.33%

$HDRO.V

Showing 23501-23520 of 60115

US Markets47d ago

Equities Fall, Yields Jump Intraday After Jobs Report; Tech Leads Sell-Off

Dow JonesNasdaq CompositeS&P 500$AMD$CRM$CSCO$FDXF$IBM$MSFT$MU$NVDA$ORCL$QCOM$SMCI