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KalVista Pharmaceuticals (KALV) and Chiesi Group said Wednesday they have entered into a definitive agreement through which Chiesi will acquire KalVista for $27 per share in cash, or about $1.9 billion. The deal is expected to close in Q3, they said.Shares surged 39% as intraday trading volume rose to over 48.2 million, from a daily average of roughly 984,000.Silicon Motion Technology (SIMO) reported a year-over-year surge in Q1 non-GAAP earnings and sales late Tuesday, beating market expectations.Shares soared 31% as intraday trading volume jumped to over 2.66 million from a daily average of about 623,000.Bloom Energy (BE) reported Q1 adjusted earnings late Tuesday of $0.44 per diluted share, up from $0.03 a year earlier. Analysts polled by FactSet expected $0.12. The company's revenue also handily beat the analysts' forecast.Shares jumped 22% as intraday trading volume surged to over 13.8 million from a daily average of about 10.8 million.Price: $26.71, Change: $+7.47, Percent Change: +38.80%

$BE$KALV$SIMO

EMEA Natural Gas Update: Futures Jump as Trump Warns Iran, Hormuz Disruptions Persist

European natural gas futures extended gains in after-hours trading on Wednesday, driven by escalating geopolitical tensions after US President Donald Trump signaled a prolonged blockade against Iran and warned Tehran to "get smart soon" in a social media post.The front-month Dutch TTF contract climbed 8.96% to 47.50 euros ($55.53) per megawatt hour, while the UK NBP advanced 8.385% to 117.50 British pence ($1.59) per therm.The large price jump was attributable to renewed supply concerns prompted by the Middle East conflicts, which led to the closure of the Strait of Hormuz and the dimming of peace prospects in the near term.In a Truth Social post, Trump criticized Iran's handling of nuclear negotiations, saying Tehran has failed to move toward a deal. Talks between the two sides remain stalled.Meanwhile, the Strait of Hormuz, a key artery for global energy markets that handles roughly one-fifth of global LNG flows, remained effectively closed for a ninth consecutive week. Only five vessels transited the waterway in the past 24 hours, according to data from the Hormuz Strait Monitor.However, on Tuesday, an LNG tanker reportedly completed a transit through the strait for the first time since the conflict began, offering a tentative sign of limited movement.Analysts warned that supply risks are compounding existing challenges in Europe's gas market. Daniel Hynes, an analyst at ANZ, said the region continues to face obstacles in refilling depleted gas storage ahead of next winter, as high LNG prices persist due to a global shortage brought on by the closure of the Strait.European gas storage levels currently stand at 31.97% of capacity, according to Gas Infrastructure Europe, compared with nearly 39% at the same time last year.Adding to demand pressures, weather forecasts point to falling temperatures across Eastern and Southeastern Europe in the coming days, driven by an Arctic cold air intrusion, Severe Weather Europe reported.

Australia2d ago

General Dynamics Raises Full-Year Earnings Outlook After First-Quarter Beat; Shares Jump

General Dynamics (GD) increased its full-year earnings outlook after reporting fiscal first-quarter results above Wall Street's estimates, sending the company's shares surging Wednesday.The aerospace and defense company now projects earnings at $16.45 to $16.55 a share for fiscal 2026, up from its previous guidance range of $16.10 to $16.20, President Danny Deep said on an earnings conference call, according to a FactSet transcript. The current consensus on FactSet is for $16.30."Given our strong start, we thought it would be prudent to revise our EPS guidance to reflect our performance thus far," Deep told analysts. "Looking at the year from a quarterly perspective, the first and fourth quarters would represent the high points, favoring the fourth quarter."EPS climbed to $4.10 for the quarter through April 5 from $3.66 a year earlier, topping the Street's view for $3.68. Revenue improved 10% to $13.48 billion, exceeding the average analyst estimate on FactSet of $12.70 billion.General Dynamics' shares were up 11% in Wednesday afternoon trade. The stock has increased 2.9% so far this year.Marine systems business revenue jumped 21% year over year to $4.34 billion in the quarter, while the aerospace division saw an 8.4% gain. Sales in the combat systems and technologies units rose more than 4% each.Orders amounted to $26.6 billion in the quarter on a companywide basis, while total estimated contract value -- the sum of all backlog components -- was $188.4 billion at the end of the quarter. The company said this includes backlog of $130.8 billion.However, General Dynamics saw numerous transactions slow down at the end of the quarter as a result of the conflict in the Middle East, Deep told analysts."We were having a spectacular quarter from an order standpoint across the board here in the US, as well as the Middle East," Deep said. "As the conflict started to take form, we saw some slowing in order intake in the Middle East."Last week, Lockheed Martin (LMT) reported first-quarter results that missed the Street's views, while fellow aerospace and defense companies RTX (RTX) and Northrop Grumman (NOC) delivered beats.Price: $347.32, Change: $+33.64, Percent Change: +10.72%

$GD$LMT$NOC$RTX

Treasury2d ago

ING Notes A Dovish-Leaning Hold by The Bank of Canada

The Bank of Canada left its policy rate at 2.25% on Wednesday as expected, but the overall tone of the accompanying statement leaned somewhat dovish relative to market expectations, said ING.The BoC acknowledged the impact higher energy prices were having on headline inflation and inflation expectations, and Governor Tiff Macklem said that a hike might be needed if oil prices were to remain elevated for a long period, noted the bank.However, the BoC also emphasized core inflation has behaved well and the proportion of components of the consumer price index that are above target has declined.Meanwhile, the jobs market is still described as soft with weak hiring and job losses seen in sectors exposed to U.S. tariffs. Growth projections also remain modest, with 1.2% gross domestic product growth predicted for this year, 1.6% in 2027 and 1.7% in 2028. Those 2027 and 2028 forecasts are a tenth of a percentage point below the consensus growth estimates.While higher energy prices are a boon for Canada's economy, given it's a major net producer of oil and natural gas, the ongoing uncertainty about trade policy continues to hold back sentiment. The coming evaluations of the CUSMA trade deal between Canada, the United States and Mexico and the potential for the U.S. to put more of a squeeze on trade partners, prompted Governor Macklem to warn that if there are significant rule changes that harm Canada, then a rate cut may be required.As such, the BoC seems to be hedging its bets a little, stated ING. For now, the BoC is prepared to "look through the war's immediate impact on inflation." Assuming oil prices come down, and U.S. tariffs remain unchanged, "a policy rate close to current settings looks appropriate."The upside risk stems from a prolonged period of elevated inflation costs that starts to feed through into broader price increases, while the downside risk is increased trade restrictions with the U.S.In terms of ING's view, its base case is that the Middle East situation will gradually ease. ING sees a slow resumption of tanker flows through the Strait of Hormuz over the next couple of months, and energy prices to start to come down.The bank also predicts the potential for a tough period of talks over the CUSMA review deal that will leave a cloud of uncertainty over the economy and weigh on the jobs market.In this situation, ING continues to favor stable policy rates through to the end of the year.

$$CXY

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Top Midday Gainers

EMEA Natural Gas Update: Futures Jump as Trump Warns Iran, Hormuz Disruptions Persist

Top Midday Gainers

EMEA Natural Gas Update: Futures Jump as Trump Warns Iran, Hormuz Disruptions Persist

Acceleware Enters into Second Farm-In Agreement in Saskatchewan Mannville

General Dynamics Raises Full-Year Earnings Outlook After First-Quarter Beat; Shares Jump

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BTIG Cuts Price Target on GE Healthcare Technologies to $80 From $85, Maintains Buy Rating

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ING Notes A Dovish-Leaning Hold by The Bank of Canada

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