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Market Chatter: Chevron CEO Says Several Vessels Attacked, Warns of 'Very Real' Risks in Strait of Hormuz

Chevron (CVX) CEO Mike Wirth on Friday claimed that several vessels passing through the vital Strait of Hormuz have been targeted recently, highlighting the "very real" risks in the Persian Gulf for shipowners, regardless of the status of the peace deal, according to a Bloomberg report.Talking to Bloomberg TV, Wirth said several vessels have been attacked in transit, and while the incidents may not have happened every day, there were multiple instances.Wirth said while not all the kinetic activity that happened this week was reported in the media, "we see risks very real still in that environment."Chevron, which has six vessels under charter in the Persian Gulf waterway, will not consider paying a toll for transit through Hormuz, Wirth said, adding a decision on whether to pass through the Strait will lie with the ship owner.Meanwhile, the Islamic Revolution Guard Corps on Thursday said that 26 commercial ships, including oil tankers, transited through the Strait of Hormuz over the past day after securing approval from Tehran, Fars News agency reported.Meanwhile, several vessels were stopped or turned back for not having proper authorization, the report said.(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: $181.94, Change: $-1.09, Percent Change: -0.60%

$CVX

Wire49d ago

SentinelOne's After-Hours Stock Decline Presents Attractive Entry Point, BofA Says

SentinelOne (S) reported an in-line but solid fiscal Q1, and the stock's 18% after-hours decline presents an attractive buying opportunity, BofA Securities said Friday.SentinelOne reported a fiscal Q1 operating margin of 4% versus consensus of 2%. BofA sees a path to 8.2% in fiscal Q2 and 10% in fiscal 2027, in-line with guidance, driven by scale and improved cost discipline, according to the note.Guidance remained largely unchanged, with full-year and near-term revenue outlook maintained, while operating margin guidance rose modestly to about 10%, reflecting the fiscal Q1 upside, the brokerage added.This conservatism weighs on the stock and raises concerns about growth durability and deal timing, and the analysts also noted the historical volatility in billings and deferred revenue trends, according to the note.BofA said it takes a more positive view given strong underlying trends, and sees this as a prudent posture and expectations reset under a new CFO, rather than a reflection of management's concern over weakening underlying demand.BofA upgraded SentinelOne to buy from neutral and raised the price target to $20 from $16.Shares of SentinelOne dropped more than 12% in Friday trading.Price: $15.87, Change: $-2.15, Percent Change: -11.93%

Oil & Energy49d ago

Dark Shipping Expands Beyond Iran-Linked Fleets Across Hormuz, Vortexa Says

Over half of Hormuz tanker crossings now occur in the dark, with hidden movements reaching 57% of all tracked transits, Vortexa strategists said in a Friday note.Since March 1, vessels have switched off AIS signals during hundreds of Strait of Hormuz crossings, pushing dark movements to 57% of all recorded transits and limiting visibility into cargo flow.After accounting for 58.5% of outbound laden transits in March, dark voyages eased to 54% in April when traffic volumes surged, before jumping to 65.2% in May, Vortexa said.Non-Iranian operators now account for most dark outbound laden voyages through Hormuz as shipping companies increasingly switch off AIS signals to manage conflict risks and operational uncertainty while keeping Gulf cargoes moving.Outside Hormuz, dark loading activity accelerated sharply between April and May, indicating that reduced transparency now extends beyond transit movements alone, according to Vortexa.Where dark loadings initially centered on Das Island, Zirku and Jebel Dhanna terminals, activity later expanded toward Fujairah terminal and nearby ship-to-ship transfers, Vortexa added.Despite strong export volumes from the UAE throughout the crisis, the share of cargoes loaded under dark conditions climbed from minimal levels in early March to above 90% recently.Across April and May, Very Large Crude Carrier vessels consistently handled about 59% of dark cargo loadings, underscoring operators' focus on moving larger parcels despite disruptions, the note added.Crude oil and condensates accounted for about 40% of dark outbound laden movements through Hormuz, while clean products accounted for nearly 25%, dirty products for close to 18%, and liquefied petroleum gas for around 14%.Reduced AIS visibility is making fuel flows harder to track beyond crude oil, while VLCC vessels account for roughly 25% to 33% of dark outbound transits each month, Vortexa said.Non-Iranian operators increased their share of dark outbound laden transits through Hormuz from 37% in March to 56% in April and 67% in May, showing that AIS-off navigation is becoming more widely used across the Gulf, the note added.UAE-linked vessels account for about 27% of non-Iranian dark movements, followed by Iraq at 11% and Qatar at 10%, while Saudi Arabia, Kuwait and Bahrain contribute another 9%, indicating that dark transits can no longer be viewed mainly as Iranian-linked activity.Growing use of dark shipping is making Gulf energy exports harder to track, increasing uncertainty around cargo origins, delivery timing and supply availability across crude oil, fuels, LPG and LNG markets, according to Vortexa.

Wire49d ago

Market Chatter: Amazon Shuts Internal AI Leaderboard After Employees Inflated Usage Scores

Amazon.com (AMZN) has shut down an internal leaderboard tracking AI tool usage after some employees tried to boost their scores through unnecessary activity that increased the company's computing costs, the Financial Times reported Friday, citing two people familiar with the matter.Dave Treadwell, an Amazon senior vice-president, told staff the leaderboard had been created with "good intentions," but led to additional costs as employees engaged in "tokenmaxxing," or inflating their consumption of AI tokens, according to the report.Amazon did not immediately respond 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 rumor and speculation. Accuracy is not guaranteed.)Price: $271.78, Change: $-2.23, Percent Change: -0.81%

$AMZN

Mining & Metals49d ago

Fancamp Exploration to Spin Out Assets, Announces Investment Issuer Application

Fancamp Exploration (FNC.V) is spinning out its core exploration assets to its subsidiary Goldera Exploration, and is also seeking TSX Venture Exchange approval for a change of business from a mining issuer to an investment issuer, the company said on Friday.Goldera will also complete a private placement consisting of a combination of up 12.5 million subscription receipts at $0.20 each, up to 10 million flow-through (FT) subscription receipts at $0.23 each and up to 5 million charity flow-through subscription receipts at $0.26 each. Glodera aims to raise between $3.6 million to $5.5 million. Proceeds will fund exploration and working capital purposes.Fancamp shareholders will receive 1/7th of a Goldera common share per Fancamp share and expects to maintain a 19.9% stake in Goldera.The spin out and the change of business are expected to result in two separate entities, one with a track record of identifying overlooked and undervalued investment opportunities in the mineral resource sector, and the other will be an exploration focused firm with strategic interests in mineral projects, a statement said.Fancamp shares edged up $0.003 to $0.147 on the TSX Venture Exchange.

$FNC.V

Research49d ago

Research Alert: CFRA Maintains Buy Rating On Shares Of Uipath Inc.

CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:We lower our target price by $1 to $13, on an EV/S multiple of 3.2x our FY 27 (Jan.) sales projection of $1.781B, below its three-year average. We decrease our FY 27 EPS estimate to $0.79 (from $0.81), and trim FY 28's estimate to $0.89 (from $0.91). PATH reported Q1 FY 27 revenue of $418M, up 17% Y/Y (15% ex-FX), with ARR reaching $1.901B, growing 11% Y/Y. Net new ARR of $49M ($40M ex-FX) declined sequentially from $70M in Q4, though net retention improved to 109% (108% ex-FX), marking the first expansion in several quarters. We view the strong enterprise momentum positively, with $1M-plus ARR customers growing 18% to 374 and $100K-plus ARR customers up 11% to 2,624, as AI becomes a key deal driver expansion deals including AI are 6x larger than those without. Non-GAAP operating margin expanded over 250 bps Y/Y to 22%. We reiterate our Buy rating, though we note concerns around modest net new ARR increase ex-FX and management commentary on customer drag at the low end of the market.

$PATH

Research49d ago

Research Alert: CFRA Maintains Hold Rating On Shares Of Sentinelone, Inc.

CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:We increase our target price to $17, from $16, on an EV/S of 4.2x our FY 27 (Jan.) sales forecast of $1.203B, below its three-year average on a softer revenue guide. We raise our FY 26 EPS projection to $0.36 from $0.33, and lift our FY 27 EPS forecast to $0.48 from $0.46. S reported Q1 FY 27 revenue of $277M, up 21% Y/Y, with total ARR reaching $1,163M, growing 23% Y/Y and accelerating sequentially. A record net new ARR of $44M rose 55% Y/Y, due to new logos and expansion, while customers with $100K+ ARR grew 17% to 1,702, reflecting strong upmarket momentum. We note that emerging products continue to be a meaningful growth driver for the firm, and highlight that non-endpoint solutions (AI Security, Data, Cloud) now constitute approximately 50% of total ARR, reflecting its diversified portfolio. While several metrics and management's commentary suggest strong demand, its conservative outlook gives us pause on a more bullish view. Restructuring initiatives also risk sales disruptions ahead.

Commodities49d ago

Market Chatter: El Nino's Return Threatens Global Economy Already Strained by Iran War Fallout

The expected return of the El Nino weather pattern, intensified by climate change, is emerging as a new threat to a global economy already strained by the fallout from the Iran war, the Wall Street Journal reported on Thursday.El Nino occurs every few years when tropical Pacific trade winds weaken and ocean temperatures rise. The phenomenon, which often peaks around year-end, typically brings hotter and drier conditions to much of Asia while increasing rainfall in other regions.The last El Nino cycle, from 2022 to 2023, triggered disruptions ranging from India's rice export ban and a dengue epidemic to low water levels in the Panama Canal, severe flooding in Brazil and soaring chocolate prices.Forecasters in the US and elsewhere say El Nino is highly likely to form this year. Exceptionally warm ocean temperatures have raised concerns that it could become a severe event, though scientists say it is too early to know its full strength.Farmers across Asia are closely monitoring forecasts as they contend with high diesel and fertilizer costs.In energy markets, the uncertainty is adding to concerns over when the Strait of Hormuz will fully reopen.BNP Paribas commodities strategist Jason Ying said stronger demand for LNG in Asia to power air conditioners during heat waves could tighten European supplies ahead of winter."LNG cargoes might get diverted over to Asia instead of European gas storage, and that means we start at a lower base for winter," Ying reportedly told WSJ.India is already enduring an intense heat wave, while forecasts point to below-average monsoon rainfall. El Nino years typically increase electricity demand as air-conditioner use rises, while drought reduces hydropower generation and boosts fossil fuel consumption.The previous El Nino also sent cocoa prices surging after dry weather damaged crops in Ghana and the Ivory Coast. Analysts warn that other commodities, including sugar and natural rubber, could also become more expensive.Andrew Watkins, a climate scientist at Monash University in Australia, reportedly said El Nino acts as "a risk multiplier" for extreme weather driven by fossil fuel emissions on an increasingly warmer planet.(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.)

Wire49d ago

Okta's New Product Traction is an Encouraging Sign, Morgan Stanley Says

Okta's (OKTA) new product traction is an encouraging sign, while artificial intelligence-related agent identity products offer additional upside catalyst through 2026, Morgan Stanley said in a Friday research report.The company has an opportunity over the coming years to address the agentic visibility challenge and position itself as the enterprise "identity system of record" for AI agents, analysts wrote.Q1 beat across key metrics offer the company a solid starting point with an attractive setup, according to the note.The brokerage said it reiterated its overweight rating on the stock and boosted its price target to $115 per share from $101.Price: $116.07, Change: $+21.35, Percent Change: +22.54%

$OKTA

Research49d ago

Research Alert: CFRA Maintains Sell Opinion On Shares Of Hp Inc.

CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:We lift our price target by $1 to $17, 6x our FY 27 (Oct.) EPS view ($2.83), below HPQ's three-year historical average (~8x) given structural headwinds and rapid memory price increases. We raise our FY 26 EPS view by $0.08 to $2.99 and lower FY 27's by $0.15 to $2.83. Q2 results were impressive on paper, led by Personal Systems (71% of sales) growing by 10% in constant currency, up from Q1's 9% growth pace. Still, we think sales results are being boosted by unsustainable pull-in effects amid the rising price environment, and we expect HP to soon run out of lower-cost inventory that is allowing it to sustain its resilient margin performance (non-GAAP operating margin 7.5% in Q2, up 20 bps Y/Y). AI PCs should continue rising as a proportion of the PC mix (following a solid 44% contribution in Q2, +900 bps Q/Q), but we think this positive is more than offset by cost volatility that not only includes memory components but increasingly oil-based resins for the Printing business (59% of non-GAAP operating profit).

$HPQ

Wire49d ago

Market Chatter: Apollo-Backed Shutterfly Offers $1.9 Billion in Loans, Bonds

Apollo Global Management-backed (APO) Shutterfly is marketing about $1.9 billion in loans and bonds, including $1.15 billion in junk notes, to refinance upcoming maturities, Bloomberg reported Friday, citing people with knowledge of the matter.The package includes a $500 million term loan and a $225 million second-lien loan, with Barclays (BCS) handling the full offering, the report said.A call with investors is set for Monday, and the transactions are expected to close on June 10, the report said.Shutterfly, Apollo and Barclays did not immediately respond 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: $129.03, Change: $+1.52, Percent Change: +1.19%

$APO$BCS

Mining & Metals49d ago

Deep Sea Minerals Announces Application to List on the Nasdaq Capital Market; Shares up 12%

Deep Sea Minerals (SEAS.CN) has filed a listing application with the Nasdaq Capital Market in connection with a planned uplisting of its common shares in the United States, the company said on Friday.The company believes that a U.S. exchange listing, if completed, would complement its existing listing on the Canadian Securities Exchange and position it to access deeper and more diversified capital markets as it continues to advance its development objectives.The proposed listing of the company's common shares on the Nasdaq remains subject to satisfaction of Nasdaq's initial listing requirements, receipt of all required regulatory approvals, and completion of customary listing processes, said the company.There can be no assurance that the company's application will be approved or that a listing on the Nasdaq will be completed, it added."We believe that pursuing a U.S. exchange listing represents an important step in Deep Sea Minerals' long-term growth strategy," said James Deckelman, Chief Executive Officer of Deep Sea Minerals. "A listing on the Nasdaq is expected to enhance our visibility within the global investment community, broaden access to institutional and retail investors, and support increased liquidity for our shareholders as we continue advancing our development objectives."Shares of the company were last seen up $0.18 at $1.68 on the Canadian Securities Exchange.Price: $1.70, Change: $+0.20, Percent Change: +13.33%

$SEAS.CN

Wire49d ago

Market Chatter: UBS Cuts Several Hundred Jobs Across EMEA Amid Ongoing Integration

UBS (UBS) cut several hundred jobs across its Europe, Middle East and Africa operations in its latest round of reductions linked to the 2023 Credit Suisse takeover, Bloomberg reported Friday, citing people familiar with the matter.The cuts mainly affected support roles, with some client-facing bankers also impacted, the report said, adding that some employees were offered internal redeployment as UBS works to limit redundancies.UBS toldthat it aims to keep job cuts from the Credit Suisse integration as low as possible, with reductions phased over several years and largely achieved through natural attrition, early retirement, internal mobility, and bringing outsourced roles in-house. It is also focusing on internalizing third-party roles to reduce the overall impact.UBS added that it provides support to affected employees by helping them find roles internally or externally and prioritizes internal hiring, with more than two-thirds of open positions filled internally in 2025.(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: $47.17, Change: $+0.33, Percent Change: +0.70%

$UBS

Commodities49d ago

US Natural Gas Update: Futures Rise Over 2% on Bullish Storage Report, LNG Feedgas Recovery

US natural gas futures were up on Friday following bullish weekly storage reports, alongside a rebound in LNG export feedgas flows.The front-month Henry Hub contract and the continuous contract both rose 2.07% to $3.353 per million British thermal units. The benchmark was set to end the week up by 11.11%, according to TradingEconomics.The US Energy Information Administration reported a net injection of 92 billion cubic feet of natural gas into storage for the week ending May 22, compared to the net injection of 101 Bcf the prior week. This brought total gas inventories to 2,483 Bcf, 144 Bcf, or 6%, above the five-year average for this period, and 21 Bcf, or 1%, above the prior year.This week's storage build fell short of forecasts of 96 Bcf and last year's 104 Bcf during the same week, according to data compiled by Investing.com, making it a bullish injection.Besides this, LNG export feedgas flows rebounded sharply this week, with the Bloomberg LNG Feedgas Model expecting 18.46 Bcf in flows for Friday, compared to the 30-day moving average of 17.94 Bcf.This also marked a sharp recovery from last week, when flows fell to a 16-week low of 15.1 Bcf on Tuesday as major export facilities underwent seasonal maintenance.Even US gas output across the Lower 48 states eased to 109.4 Bcf per day in May, compared to 109.8 Bcf per day in April, adding to the bullish momentum, according to TradingEconomics.As much as two-thirds of the country is still expected to experience above-normal temperatures from early to mid June, keeping air conditioning power burn elevated, according to the National Weather Service.

Commodities49d ago

TSO Association Sees No General Risks in EU Summer Electricity Supply

Electricity supply across most of the EU does not face general risks for the coming summer period, but potential issues remain for some areas, the European Network for Transmission System Operators for Electricity confirmed on Friday.The association said in its summer outlook that it "identifies no substantial immediate adequacy risk in continental Europe, the Nordics, or Great Britain, but notes several important points that require attention."In Moldova, Entso-E identified "structural adequacy risks" due to natural gas supply limitations affecting thermal generation. The country heavily relies on imports and has weak interconnections, with high exposure to regional disturbances.In Ireland, adequacy of supply will depend on operational conditions, including unplanned outages of conventional and wind energy sources, according to the report.Entso-E identified "residual" risks in Malta and Cyprus, particularly in the event of high unplanned outages and unfavorable weather conditions, which reduce generation from renewable energy sources.Malta primarily relies on non-market sources, while Cyprus depends on domestic supply and has no interconnections with other power systems.The report also revealed that there will be renewable energy curtailment in several zones, particularly in northern Sweden and Germany, as generation may exceed demand at some points."Growing renewables, doubled battery storage, and close TSO coordination support system security," the association said.It also emphasized that geopolitical tensions in the Middle East have increased global and European supply uncertainty.Nonetheless, it remains positive that gas availability in the region, including for power generation, will "remain adequate over the summer period.""The report underlines the importance of continuous monitoring of the short-term adequacy situation by European transmission system operators and regional coordination centers," the European Commission said on Friday, as it welcomed Entso-E's assessment for summer.

Wire49d ago

AST SpaceMobile, Other Space Stocks Fall After Blue Origin Rocket Explosion

AST SpaceMobile (ASTS) and other space-related firms saw their stock prices drop in Friday trading after Blue Origin's New Glenn rocket exploded on Thursday night during a hot-fire test at a Space Force facility in Cape Canaveral, Florida.AST shares fell 18%, while Rocket Lab (RKLB) stock was down 5.5%. Intuitive Machines (LUNR), Redwire (RDW), and Planet Labs (PL) also saw their stock fall by 13%, 12%, and 10%, respectively.Blue Origin, backed by Amazon's (AMZN) Jeff Bezos, is one of the few companies aiming to compete with Elon Musk's SpaceX.Price: $108.57, Change: $-24.52, Percent Change: -18.42%

$AMZN$ASTS$LUNR$PL$RDW$RKLB

Research49d ago

RBC Target Lifted $21 at CIBC, But Neutral Reiterated

RBC reported a better second quarter versus the prior one, CIBC said, noting RBC's stock has regained its premium multiple and was trading at 15.4x P/E (NTM consensus), a 7% premium to the group. CIBC's estimates move modestly higher on NII and asset-based fees. CIBC increased its price target to $279 (from $258) based on a higher EPS estimated and a higher industry multiple. CIBC reiterated its Neutral rating.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://finwires.com/en/contact)Price: $259.91, Change: $-0.63, Percent Change: -0.24%

$RY.TO

Wire49d ago

Goldman Sachs Adjusts Church & Dwight Price Target to $111 From $109, Maintains Buy Rating

Church & Dwight (CHD) has an average rating of overweight and mean price target of $103.72, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://finwires.com/en/contact)Price: $96.73, Change: $-0.90, Percent Change: -0.92%

$CHD

Wire49d ago

Jefferies Adjusts Price Target on Bristol-Myers Squibb to $73 From $70, Maintains Buy Rating

Bristol-Myers Squibb (BMY) has an average rating of overweight and mean price target of $63.26, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://finwires.com/en/contact)Price: $56.75, Change: $-0.16, Percent Change: -0.28%

$BMY

Wire49d ago

Update: Buckle Shares Fall After Fiscal Q1 Results

(Updates with the latest stock move in the headline and in the first paragraph.)Buckle (BKE) shares were down 5.6% in early Friday trading after the company posted fiscal Q1 results.The company reported quarterly earnings of $0.92 per diluted share, up from $0.70 a year earlier.Two analysts polled by FactSet expected $0.74.Net sales for the quarter ended May 2 were $288.7 million, up from $272.1 million a year earlier.Two analysts surveyed by FactSet expected $287.7 million.Price: $47.65, Change: $-2.83, Percent Change: -5.61%

$BKE

Showing 24521-24540 of 57172

Oil & Energy49d ago