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Tigress Adjusts Price Target on Walmart to $155 From $150, Maintains Buy Rating

Walmart (WMT) has an average rating of overweight and mean price target of $140.29, 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: $116.89, Change: $-2.01, Percent Change: -1.69%

$WMT

Asia Markets49d ago

Market Chatter: SiriusXM Talks Over Acquisition of iHeartMedia Hit Impasse; Shares Fall

SiriusXM's (SIRI) discussions over a possible acquisition of iHeartMedia (IHRT) have hit an impasse after the two sides were unable to come to terms, The New York Times Dealbook reported Friday, citing two people with knowledge of the discussions.Despite the stalled talks, the sources said that they could always be restarted.In April, Bloomberg reported that IHeartMedia was holding talks with SiriusXM about a possible sale.IHeartMedia and SiriusXM didn't immediately respond to requests for comment from.Shares of IHeartMedia and SiriusXM were down 11% and 2.1%, respectively.(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.)

$IHRT$SIRI

Wire49d ago

Integra Resources Begins Federal Environmental Review for Idaho Project

Integra Resources (ITRG) said Friday the US Bureau of Land Management published a notice of intent in the Federal Register to initiate the environmental review process for its DeLamar project in Idaho.The publication formally begins the preparation of an environmental impact statement and initiates a public scoping and stakeholder engagement period, the company said.The federal agency expects to issue the final impact statement and a record of decision in the second half of 2027, the company added.The project's inclusion in a federal transparency program establishes an anticipated 15-month NEPA review timeline for the development, the company said.Price: $2.67, Change: $-0.03, Percent Change: -1.11%

$ITRG

Mining & Metals49d ago

Hammond Power Solutions Declares Quarterly Dividend

Hammond Power Solutions (HPS-A.TO) declared a quarterly cash dividend of $0.275 per Class A Subordinate Voting Share and a quarterly cash dividend of $0.275 per Class B Common Share payable on June 17, to shareholders of record at the close of business on June 10.The ex-dividend date is June 10, 2026, it said. Latest dividend is unchanged from the prior quarter.Shares of the company were last seen down 1.9% at $325.88 on the Toronto Stock Exchange.Price: $327.98, Change: $-4.30, Percent Change: -1.29%

$HPS-A.TO

Oil & Energy49d ago

Middle East Energy Crisis Favors Exporting Nations, Says WoodMac

Global energy exporters are the biggest beneficiaries of the prolonged Middle East supply disruption, while fuel-importing developing economies face higher energy bills, inflation and weaker currencies, Wood Mackenzie analysts said on Thursday in an interview with.Major oil-producing countries led primarily by the US, Saudi Arabia, and the UAE have capitalized on surging commodity prices and resilient production structures, insulating them from the chaos shaking the wider market."The structural winner of this is arguably the US," Alan Gelder, Vice President of Refining, Chemicals, and Oil Markets at Wood Mackenzie said, citing the country's position as the world's largest oil producer.The consultancy estimated the market has already lost roughly 10 million barrels per day of supply, creating what analysts described as the largest energy shock in modern history."To destroy 10 million barrels a day of demand, you need an oil price of about $200 a barrel," Gelder said. The buffer of reserves that has softened the impact of the Strait of Hormuz is finite however and running down quickly.Peter Martin, Head of Economics at Wood Mackenzie said the consultancy's extended disruption scenario points to a 0.4% contraction in global GDP growth this year, alongside persistently high inflation and weak growth into next year.Meanwhile, in the US, energy majors like ExxonMobil (XOM) and Chevron (CVX) have posted robust financial performance, insulated by domestic crude production hovering near historic highs of 13.6 million barrels per day.Concurrently, oil companies in the Gulf are leveraging their vast infrastructure to bypass logistical chokepoints and secure massive financial windfalls.Saudi Aramco recently announced a staggering $32.5 billion in net income for Q1 driven by higher realized prices for crude oil and refined products.Aramco has kept its exports moving to global markets by cranking up its East-West Pipeline up to its maximum capacity of 7.0 million barrels per day.Similarly, the UAE's ADNOC reported its strongest Q1 performance on record. Net profits climbed to $347 million on the back of aggressive regional expansion and high rig utilization.The windfall is not restricted to crude, as Wood Mackenzie noted that global Liquefied Natural Gas exporters and coal producers have also emerged as winners as buyers scramble to find substitutes to both oil and gas.Fuel-importing developing economies, including Pakistan and several African nations, find themselves caught between surging international prices and a shrinking pool of physical supply.

Mining & Metals49d ago

Ximen Mining Advances Engineering Work at Kenville Project in British Columbia

Ximen Mining (XIM.V) has advanced engineering work at the Kenville project in British Columbia, the company said Friday.Detailed design work for a planned underground mine development is underway. The company has also completed hydrogeologic, geotechnical and ground support design components.A consultant engineer is now scheduled for a site examination in early June to assess existing building foundations, Ximen said.The work forms part of the Ximen's efforts to advance toward a construction start for a new underground decline, which will ultimately access multiple gold-bearing quartz veins that were intersected in surface drill holes surrounding the past-producing Kenville gold mine."With the upcoming site examination of the existing building foundations, we are continuing to de-risk the pathway toward a future construction start for the new decline and the potential reopening of one of British Columbia's historic gold mines," said Christopher Anderson, president, chief executive officer and director of Ximen.

$XIM.V

Wire49d ago

Palomar Lifts 2026 Adjusted Net Income Outlook; Completes Reinsurance Placement

Palomar (PLMR) said Friday it has raised its 2026 adjusted net income guidance to between $266 million and $280 million from the previous range of $262 million to $278 million.Analysts polled by FactSet expect $265.2 million.The company also said it has procured about $421 million of incremental limit to back the growth of its Earthquake franchise.The company's reinsurance coverage is now $3.92 billion for earthquakes and $135 million for continental US hurricanes, Palomar said.Price: $109.88, Change: $+0.25, Percent Change: +0.23%

$PLMR

Oil & Energy49d ago

Gulf Output Recovery to Take Months Even if Hormuz Reopens Soon, Says WoodMac

The restoration of Middle Eastern oil production will take months, even if exports return to normal soon, Wood Mackenzie analysts toldin an interview.The analysts warned that long-term damage to reservoirs and logistics will slow a return to energy market normalcy until many weeks after the geopolitical backdrop stabilizes.An estimated 11 million barrels per day of upstream production is currently 'shut in' across the region due to the conflict, excluding Iran, where additional disruption is beginning to emerge.While public attention remains fixed on a potential diplomatic breakthrough to reopen the Strait of Hormuz, energy analysts stress that markets will not normalize the day after.Shipping logistics will be the primary constraint for several weeks as operators sort out war-risk insurance, clear full storage tanks, and wait for empty vessels to arrive. After that upstream production will become the next hurdle, the analysts said.Fraser McKay, Head of Upstream Analysis at Wood Mackenzie, said in an interview withon Thursday that some heavily-affected fields are currently producing a mere 20% of normal output.While initial recovery from major fields will be fast enough to meet early export volumes, a return to baseline capacity will take significant time, he added.McKay estimates that severely impacted operations will likely recover to roughly 70% of pre-crisis output after three months, and it will take six to nine months to claw back to about 90% of baseline production.Operators face rigid technical limits, since ramping up production too quickly risks causing reservoir pressure to drop permanently or it could trigger a catastrophic entry of water.The recovery process is expected to be uneven across the Middle East, dictated by onshore storage capacity and the technical characteristics of production assets. Restart times will also increase the longer assets are disrupted."it's not just a case of switching the production on. It's A carefully managed process. It takes time and the challenges that each country, each field, and each well faces are all unique," McKay said.While Saudi Arabia and the UAE maintain roughly a month's worth of storage buffer to manage a staggered restart, Kuwait and Iraq are operating with less than two weeks of storage safety cushion.Iraq faces the steepest uphill battle of all. Its recovery path is severely complicated by operational complexity, underlying financial pressures on the government, and deep political fragmentation.Analysts emphasize that the longer the shutdown persists, the more challenging it becomes for places like Iraq to safely manage and restore its production without causing lasting reservoir damage.These technical warnings come amid frantic diplomatic maneuvering, with US and Iranian negotiators reportedly closing in on a Memorandum of Understanding that would extend the current ceasefire for 60 days.The proposed deal aims to guarantee "unrestricted" passage for commercial vessels through the Strait of Hormuz without the payment of tolls to Tehran.Market reaction will likely be guarded though, after a roller coaster ride of supposed breakthroughs and US President Donald Trump's claims of Iran's eagerness for a peace deal with few signs of corresponding deeds.

Mining & Metals49d ago

Sonoro Gold Increases its Private Placement to $15 Million

Sonoro Gold (SGO.V) is increasing its non-brokered private placement announced on May 20, 2026 to 60 million units for gross proceeds of C$15 million, from 40 million units for gross proceeds of C$10 million, it said on Friday.The offering price remains $0.25 per unit with each unit composed of one common share and one common share purchase warrant. Each warrant will entitle the holder thereof to purchase one additional common share of the company for a period of three years from the closing of the private placement at an exercise price of $0.34 per common share, noted the company.The net proceeds will be used to advance the on-going development of the company's Cerro Caliche gold project in Sonora, Mexico as well as general working capital, it added.The offering is subject to TSX Venture Exchange acceptance.

$SGO.V

Wire49d ago

AstraZeneca Working With Nucs AI on Prostate Cancer Research

AstraZeneca (AZN) started a collaboration with Nucs AI to develop artificial intelligence-driven response prediction models for an oncology treatment, Nucs AI said Friday.The collaboration will focus on creating predictive tools for a prostate-specific membrane antigen-targeted radioconjugate used in metastatic prostate cancer cases, the company said.The company will modify and verify an imaging biomarker product to match upcoming radioconjugate therapies, Nucs AI said.Price: $185.24, Change: $-0.09, Percent Change: -0.05%

$AZN

US Markets49d ago

IFF to Sell Majority Stake in Food Ingredients Business to CVC in $4.3 Billion Deal

International Flavors & Fragrances (IFF) said Friday that it agreed to sell a majority stake in its food ingredients unit to private equity firm CVC Capital Partners in a deal worth roughly $4.3 billion, as part of IFF's efforts to focus on higher-margin businesses.The company expects to receive net proceeds of about $3.8 billion, which it intends to use to reduce debt, repurchase shares and reinvest in its core portfolio. IFF will retain a 10% equity holding in the food ingredients division."This transaction represents an important strategic milestone in our ongoing portfolio optimization initiative, allowing us to further concentrate resources on our higher-growth, higher-margin segments," IFF Chief Executive Erik Fyrwald said in a statement. "This transaction creates substantial value for shareholders while positioning IFF to drive sustained, profitable long-term growth."Shares of the company were up 2.9% in Friday trade, taking the stock's year-to-date gain to 19%.The food ingredients unit, which serves multinational food and beverage customers, generated nearly $3.1 billion in sales last year."By retaining a minority stake in food ingredients, we will continue to participate in the future upside of a strong business under dedicated ownership," Fyrwald said.The deal, which requires approval by regulators, is expected to complete by the end of the second quarter of 2027. The company estimates that the transaction will be dilutive to its adjusted earnings on a per-share basis in the first year after completion."We are delighted to welcome IFF's food ingredients business to CVC's US portfolio," CVC Managing Partner Lorne Somerville said. "Its global reach and proprietary technical capabilities provide a clear competitive advantage, and we see significant opportunity for continued growth."Including this transaction, IFF has divested 13 non-core businesses for about $10 billion as part of its strategy to streamline its portfolio. In 2025, the company sold its pharma solutions segment to French ingredients company Roquette.IFF said it continues to expect 2026 sales between $10.5 billion and $10.8 billion, while the current consensus on FactSet is for $10.75 billion.

$IFF

International49d ago

ISM Chicago PMI Rises Much More Than Expected in May

The Institute for Supply Management's Chicago PMI reading jumped to 62.7 in May from 49.2 in April, larger than the expected 50.3 reading in a survey compiled by Bloomberg and the highest reading in over four years.Other regional manufacturing data already released for May have been overwhelmingly positive, with the exception of a decline in the Philadelphia Federal Reserve's reading.The national ISM manufacturing index will be released on June 1.

Research49d ago

TD Price Target Raised $13 at CIBC, But Kept at Neutral

CIBC noted TD Bank (TD.TO, TD) reported a "solid" second quarter, including in credit. Expense efficiencies were better than CIBC had expected and CIBC has revised its forward assumptions, resulting in higher EPS estimates. CIBC noted TD was trading at 15.3x P/E (NTM consensus), a 6% premium to the group average and effectively in line with RBC (RY.TO, RY). "We like the results, but valuation remains a challenge for us," CIBC added.CIBC's price target increases from $151 to $164 based on revised EPS estimates and a higher target multiple for the group. 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: $156.49, Change: $+0.31, Percent Change: +0.20%

$TD.TO

Oil & Energy49d ago

EMEA Natural Gas Update: Futures Rise as Uncertainties Cloud US-Iran Peace Deal

European natural gas futures were up on Friday, after US Vice President JD Vance hinted that the peace deal between the US and Iran could take longer than expected.The Dutch TTF front-month contract was up 0.10% at 47.020 euros ($54.78) per megawatt hour, while the UK NBP front-month contract rose 0.33% to 113.800 British pence ($1.53) per therm.Both the Dutch TTF and UK Gas were set to end the week down by 3.24% and 3.16%, respectively, according to Trading Economics.Multiple media outlets reported that the US and Iran have agreed on a 60-day ceasefire extension, pending the approval of US President Donald Trump. However, comments by Vance, and latest push back from Iran, through Tasnim news agency, suggest the war is anything but over yet.Vance told reporters on Thursday that it was too early to say "when or if" the two warring sides would finalize an agreement, adding to the uncertainties.Meanwhile, the strategically crucial Strait of Hormuz remained effectively closed for the 13th week running, with just five vessels transiting over the past 24 hours, according to the Hormuz Strait Monitor.Iran's Islamic Revolutionary Guard Corps said on Friday that 24 vessels had transited via the Strait over the past 24 hours, in coordination with Iranian authorities, according to an Al Jazeera report, citing Iran's Fars News Agency.Daniel Hynes, a senior commodity strategist at ANZ, noted that the Strait's closure was now building to a point where "European buyers will be in a fight for any available LNG."This comes as European gas inventories remain depleted at just 39.13% of capacity, compared to 46.88% during the corresponding period a year ago, according to Gas Infrastructure Europe.Inventories were also considerably lower than the five-year average for this period, at 52.8%, according to the Swiss Federal Office of Energy.In a meeting of the European Commission's Gas Coordination Group on Tuesday, member states assured that the region's gas inventories could touch 80% of capacity by the end of the Summer, while still noting the importance of regular storage assessments.Uniper, a German utility, has, however, pushed back against this claim, while sounding the alarm on storage inventories being refilled very slowly, with the company's CEO, Michael Lewis, warning that it will face supply issues in winter if the inventories are not filled quickly.

Oil & Energy49d ago

Middle East's Oil Dominance Safe Despite Hormuz Strait Disruption, WoodMac Says

The prolonged closure of Strait of Hormuz may reshape some global energy investment flows, but Middle Eastern dominance in low-cost oil will keep investors in the region, analysts at consultancy Wood Mackenzie toldon Thursday.The Middle East will remain the epicenter of global energy supply due to its unmatched scale and production costs. The region accounts for a one-fifth of global upstream development spending and holds many of the world's largest low-cost oil resources, analysts said.While new frontiers carry higher start-up costs, major Gulf producers retain an advantage with total production costs of below $10 per barrel compared to more than $23 for US shale and $34 for offshore Brazil."These are some of the lowest cost barrels in the world, they are still likely to remain absolutely competitive in the global marketplace," Fraser McKay, Head of Upstream Analysis at Wood Mackenzie, said.Wood Mackenzie said higher shipping costs and geopolitical risk premiums could slightly improve the attractiveness of rival oil-producing regions such as Latin America, West Africa, and US shale.The analysts added that countries such as Guyana, Argentina, and Mozambique could become relatively more attractive for new energy investment in the event of any diversification of supply away from the Middle East.However, the consultancy does not expect a large-scale capital flight away from the Gulf. Instead, investors are likely to seek to "negotiate better terms with the host governments in the Middle East", McKay said.This outlook comes at a critical time for global energy security.International Energy Agency Chief Fatih Birol recently warned that current oil and gas disruption has now surpassed in gravity all past major crises, including the 75 billion cubic meters of gas supply llost after Russia's invasion of Ukraine.The attacks have damaged more than 80 energy facilities across the region-including oil fields, gas sites, and refineries-with more than one-third categorized as very severely damaged, the IEA said.

International49d ago

Fed Vice Chair for Supervision Bowman Says Overreacting to Temporary Energy Shocks Would Slow Growth Unnecessarily

Federal Reserve Vice Chair for Supervision Michelle Bowman said Friday that she is looking for more clarity on the Middle East conflict before determining the monetary policy path forward, noting the risks of overreaction to temporary factors."Economic research suggests that, in response to temporary adverse energy supply shocks, policy should not be overly aggressive at stabilizing total inflation to keep employment close to our maximum-employment goal," Bowman said at the Reykjavik Economic Conference. "Reacting to temporarily elevated energy price inflation would add unwarranted policy restraint, weighing unnecessarily on economic activity and labor market conditions."Bowman supported maintaining language in the last post-meeting statement from the Federal Open Market Committee that left open the possibility of rate reductions. Three of her FOMC colleagues dissented in favor of removing that language."It is appropriate to look through temporarily elevated inflation readings largely due to higher energy prices, provided that we remain credible in our commitment to achieve our inflation goal and one-off tariff effects wane, as I expect," Bowman said.Maintaining the current policy stance will allow for stable labor market conditions while helping to lower inflation toward the Fed's 2% goal once those temporary impacts dissipate, she said."But the longer the conflict persists, the more we should consider the effects on inflation in our outlook," Bowman added. "In particular, the more persistent higher oil prices are -- or if we start to see broader effects of higher energy prices on PCE inflation -- the more likely I will consider shifting my approach to thinking about the balance of risks."

International49d ago

May Chicago PMI 62.7 Vs. Expected 50.3 Print, Prior 49.2

Wire49d ago

ReNew Energy Global Receives $6.75 a Share Buyout Proposal

ReNew Energy Global (RNW) has received a nonbinding proposal from Canada Pension Plan Investment Board and ReNew's chief executive officer, Sumant Sinha, to acquire shares not already owned by the consortium for $6.75 each in cash, the company said Friday.The renewable energy company said the proposed transaction would use a UK scheme of arrangement structure and allow shareholders either to accept the cash offer or retain their shares through a rollover election.ReNew Energy said a special committee of independent directors is reviewing the proposal and has hired Rothschild as financial adviser and Linklaters as legal counsel.The company said no assurance exists that the proposal or any other transaction will proceed.Shares of the company were up nearly 3% in recent early Friday trading.Price: $6.44, Change: $+0.19, Percent Change: +3.12%

$RNW

Oil & Energy49d ago

US Oil Update: Prices Drop Despite Conflicting Reports on Peace Deal Progress, US Crude Stockpile Draw

Crude oil benchmarks were down on Friday despite skepticism over a potential US-Iran ceasefire framework from both Iran and US Vice President JD Vance.Front-month West Texas Intermediate crude futures fell 1.4% to $87.66 per barrel, while Brent futures dropped 1.7% to $92.13/bbl.Both contracts remained on track for a weekly decline on Friday.Earlier on Thursday, Axios reported that US and Iranian negotiators had tentatively agreed to a 60-day Memorandum of Understanding to extend the current ceasefire and initiate formal talks on Iran's nuclear program.However, several media outlets reported on Friday citing a report by Iran's Tasnim News Agency that the text of the potential agreement between US and Iran has not been finalized.The MOU is currently pending final approval from US President Donald Trump, according to officials involved in the mediation, Axios reported.Meanwhile, domestic supply dynamics continue to tighten. US commercial crude oil stockpiles fell by 3.3 million barrels to 441.7 million barrels for the week ended May 22, according to the Energy Information Administration's weekly report on Thursday.Speaking Thursday at the Bernstein Strategic Decisions Conference in New York, Neil Chapman, Senior Vice President of ExxonMobil (XOM), noted that global oil inventories are nearing critically low levels, warning that these draws could spark significant upward pressure on crude prices in the coming weeks.On the demand side, data from Japan's Ministry of Economy, Trade and Industry underscored the severe impact of recent Middle East supply disruptions.Japan's crude oil imports plummeted 66% year-on-year to about 850,000 barrels per day in April.

Wire49d ago

Becton, Dickinson Resumes US Shipments of ChloraPrep After Additional Testing

Becton, Dickinson (BDX) has resumed US shipments of ChloraPrep after completing additional assessments and implementing final release testing, the company disclosed in a regulatory filing with the US Securities and Exchange Commission on Friday.The company said it had voluntarily placed ChloraPrep and PurPrep on ship hold on May 6 while conducting additional final release testing tied to a warning letter from the US Food and Drug Administration for its El Paso manufacturing facility.Becton, Dickinson said all additional testing completed to date has been acceptable and no patient safety signals have been identified.Price: $148.91, Change: $+0.52, Percent Change: +0.35%

$BDX

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Oil & Energy49d ago