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Oppenheimer Adjusts Price Target on GE Vernova to $1,338 From $1,303

GE Vernova (GEV) has an average rating of overweight and mean price target of $1,233.46, 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: $1001.23, Change: $-77.58, Percent Change: -7.19%

$GEV

Meta Platforms Faces Higher AI Spending, Slower Ad Growth, Oppenheimer Says

Meta Platforms (META) faces sharply higher artificial intelligence infrastructure spending and slowing advertising growth, Oppenheimer said in a report emailed Wednesday.The company is scheduled to report its Q2 results on July 29.The firm estimated Meta may need to spend at least $205 billion in 2027 to reach its reported 14-gigawatt data center capacity target, compared with Wall Street's estimate of about $159 billion. Rising memory and equipment costs could push the cost of one gigawatt of capacity to about $39 billion in 2026 and $44 billion in 2027, the report said.Subletting excess computing capacity would be only about 4% incremental to consensus earnings and would not justify a higher valuation without long-term agreements, the report said, adding that advertising growth could also decelerate without incremental AI tailwinds.The analyst cut 2026 and 2027 earnings estimates by 1% and 2%, respectively, and raised the 2027 capital spending forecast by 26% to $207 billion. For 2028, the analyst expects capital spending of $218 billion compared with Wall Street estimates of $150 billion, according to the report.Oppenheimer maintained a perform rating on Meta Platforms.Price: $628.51, Change: $-15.31, Percent Change: -2.38%

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Purecore Completes Initial Phase of Exploration at the Bankier Property in B.C

Purecore (PURE.CN) on Wednesday said it completed the initial phase of "boots-on-the-ground" exploration at the Bankier Property in British Columbia.The phase one program included property-wide reconnaissance, including road and access mapping as well as geological mapping."This field program has been instrumental in advancing our understanding of the geology, alteration and structural controls on mineralization across the property. It is particularly encouraging to have identified additional areas of alteration outside the historical MINFILE occurrences, highlighting new targets for follow-up exploration," said Chief Executive Peter Berdusco.Purecore shares were last seen down C$0.02, to C$1.58, on the Canadian Securities Exchange.Price: $1.58, Change: $-0.02, Percent Change: -1.25%

$PURE.CN

Valkea Resources Completes Initial Work on Prospect Pipeline; Plans to Begin Drilling in August

Valkea Resources (OZ.V) on Wednesday said it completed initial work on a new prospect pipeline and plans to begin drilling on the first of these new targets in August.A total of 24 new targets were identified on its target areas in Finland's Central Lapland Greenstone Belt, said the company.The company's base of till (BoT) drilling program is expected to begin in October and continue until at least March, said Valkea."Targets will be prioritised based on prospectivity and access, with initial exploration set to commence at new sites within the Paana Central licence area," said Chief Executive Officer Thomas Credland. "We are also pleased to have secured rig access for our initial programme, given the anticipated increase in regional activity following Agnico Eagle's acquisition of the multi-million ounce Ikkari project in June 2026."The company's shares were last seen unchanged at C$0.29 on the TSX Venture Exchange.

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Halliburton's Outlook Improves as New Awards Build Momentum After Flat Q2, RBC Says

Halliburton's (HAL) outlook for the rest of the year is improving as international projects ramp up and North American markets tighten, RBC Capital Markets said Wednesday in a report.Underlying market conditions are strengthening, though the flat Q2 performance was "masked" by mobilization costs tied to recent contract wins and continued drag from the Middle East, the report said.Halliburton has secured multiple unconventional fracturing awards globally in recent months, including a multibillion-dollar deal with YPF (YPF) in Argentina and a new award with Aramco for Jafurah completion work starting in Q3, the report said.RBC lowered its EBITDA estimates by 2% to $4.18 billion for 2026 and $4.57 billion for 2027, and introduced a 2028 forecast of $4.97 billion, up 9% from a year earlier and below the market consensus of $5.07 billion.Still, RBC said it sees "solid value" in Halliburton shares on the brighter international and North American prospects.RBC maintained its outperform rating on Halliburton stock and its $45 price target.Price: $32.80, Change: $-0.39, Percent Change: -1.19%

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European Stocks Close Higher in Wednesday Trading; UK Inflation Decelerates

The European stock markets closed higher in Wednesday trading as strong earnings reports outweighed Persian Gulf turmoil among investors.The Stoxx Europe gained 0.6%, Germany's DAX rose 0.6%, the FTSE 100 advanced 1.2%, France's CAC increased 1%, and the Swiss Market Index was up 0.2%.In the UK, the annual consumer prices index rose 2.6% in the 12 months to June, down from 2.8% the previous month. Analysts polled by Bloomberg expected a 2.7% rise. On a monthly basis, CPI rose 0.1% in June, compared with a 0.3% rise a year earlier, which met analyst forecasts.In corporate news, Airbus is considering launching a stretched version of its A350 widebody aircraft to compete with Boeing's delayed 777X, with a decision possible within the next 12 months, The Wall Street Journal reported Wednesday, citing Rolls-Royce CEO Tufan Erginbilgic.The report said the proposed aircraft, often referred to as the A350-2000, would carry more passengers than current A350 models and could enter service in the early 2030s.Airbus did not immediately respond to' request for comment.Shares of Airbus climbed more than 7% in Paris.Equinor reported Q2 adjusted earnings Wednesday of $1.33 per diluted share, up from $0.64 a year earlier. Analysts polled by FactSet expected $1.38.Revenue for the quarter that ended June 30 was $35.18 billion, up from $25.15 billion a year earlier. Analysts surveyed by FactSet expected $34.03 billion.The board has decided on a cash dividend of $0.39 per share for Q2. The board has also decided to initiate a third tranche of the share buy-back program of up to $1.13 billion for 2026. The tranche will commence on July 23 and end no later than Oct. 26.Shares of the Norwegian petroleum refiner advanced 4.2% in Oslo.Banco Santander reported Q2 earnings Wednesday of 0.25 euro ($0.29) per share, up from 0.23 euro a year earlier. An analyst polled by FactSet expected 0.30 euro.Revenue for the quarter ended June 30 was 15.71 billion euros, up from 15.14 billion euros a year earlier. Analysts polled by FactSet expected 15.66 billion euros.For 2026, the Spanish bank expects higher profits and affirmed its previous guidance of mid-single-digit revenue growth.Shares of Banco Santander gained 1.4% in Madrid.Shell resumed operations at a 200,000-barrel-per-day crude oil unit at its Pernis oil refinery in the Netherlands on Monday following a brief disruption, Reuters reported Tuesday, citing an alert from consultancy Wood Mackenzie.The crude unit closed Saturday along with a 25,600-barrel-per-day vacuum distillation unit, which remained offline, the report said.Shell declined' request for a comment.Shares of Shell increased 1.4% in London.Italian oil and gas company Eni said Wednesday that it generated first industrial electricity from the 120-megawatt gas power plant at the 247-MW Mangystau Hybrid Power Plant in Kazakhstan.The company said the project, developed with KazMunayGas and Eni subsidiary Plenitude, is Kazakhstan's first large-scale hybrid power plant, combining solar, gas and planned wind generation.Shares of Eni closed 2% higher in Milan.

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Swiss Market Index Remains in Green; Sandoz, Lonza Shares Down

Swiss stocks remained in positive territory on Wednesday, with the Swiss Market Index closing 0.12% higher, as investors took stock of the latest earnings and economic data releases, alongside fresh US tariff threats.In a post on social media platform Truth Social, President Donald Trump said the tariff on generic drugs being brought into the US will be increased to 100% in 2028 and to 200% thereafter. "This is done in order to RESHORE Generic Pharmaceutical Production into America, with a penalty to those Companies that decide not to build Plant and Equipment within the stated period of time given to them," he added.Swiss generic drugmaker Sandoz Group (SDZ.SW) said in a statement tothat it will pursue discussions with stakeholders and policymakers following Trump's proposal to raise the tariff rate. Its shares fell 3.88% at closing.Meanwhile, Lonza Group's (LONN.SW) first-half sales amounted to 3.37 billion francs, up from the restated 3.03 billion francs a year before. Profit for the period also rose to 595 million francs from 426 million francs, supported by double-digit sales growth at constant exchange rates at all three of the group's business platforms."Lonza delivered a strong set of H1 2026 results, with revenue 1% below consensus but EBITDA 4% above. FY 2026 Core EBITDA margin outlook has been increased to 33-34%, from 'above 32%' previously, with the 11-12% CER sales growth guide unchanged. Advanced Synthesis and Specialized Modalities both beat consensus, while Integrated Biologics missed, but the company confirms that there have been no delays, and this division is executing as expected," RBC Capital Markets said in a quick take note. The contract development and manufacturing organization's shares were down 4.89%.Switzerland-listed vacuum valve manufacturer VAT Group (VACN.SW) and electronic components company Cicor Technologies (CICN.SW) also published financial results.Outside Switzerland and in economic news, the annual inflation rate in the UK eased to 2.6% in June from 2.8% in May, while the annual core inflation rate held steady at 2.6%.Investors also continued to monitor developments in the Middle East after US Secretary of State Marco Rubio said the US is prepared to pursue diplomacy with Iran while noting that Tehran has yet to demonstrate a serious commitment to talks. Ongoing concerns over shipping disruptions in the Strait of Hormuz and the Red Sea remain.

CleanTech Vanadium Mining Raises C$0.43 Million in the First Tranche of Non-Brokered Private Placement

CleanTech Vanadium Mining (CTV.V) closed the first tranche of its non-brokered private placement offering raising C$0.43 million, it said in a statement late Tuesday.The placed 3.9-million units at C$0.11 apiece in the tranche, with each made up of a share and a transferable three-year warrant to buy a share for C$0.15.Control person and company insider Oracle Commodity Holding subscribed for 2.5-million units under the first tranche.Proceeds will be used for general corporate needs. The company added that it will not use proceeds of the first tranche to fund any deal that requires the approval of the TSX Venture Exchange.Shares of the company were last seen unchanged at C$0.11 on the TSX Venture Exchange.

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German Stocks Rise Amid Corporate Earnings Buzz

German equities advanced on Wednesday, with the blue-chip DAX index rising 0.65%, as investors digested the latest batch of corporate earnings and trading updates alongside updates on the Middle East conflict.GEA Group (G1A.F) jumped 5.65% after raising its full-year 2026 guidance on a "very strong" second quarter and a "positive" outlook for the latter half of the year. The German systems and components supplier now forecasts organic revenue growth within the 6% to 8% range, versus previous projections of between 5% and 7%.Meanwhile, Airbus' (AIR.F) German stock became the top gainer on the index, climbing 6.92%, after unveiling its full-year 2029 financial targets and announcing the approval of its 5 billion-euro share repurchase program."Airbus (AIR-FR) hosted its 2026 Farnborough business update. The highlight of the update was the establishment of 2029 targets, calling for EUR12B - EUR13B in adj. EBIT, a ~1x [free cash flow] conversion ratio, and EUR5B share buyback program. Notably, the company provided a guide for its Airbus Commercial segment, anticipating ~EUR10B in adj. EBIT in FY29. We believe the outlook was more positive than investors' lowered expectations across several metrics (buybacks, EBIT ramp, long-term outlook), and should continue to support a re-rating on the shares," RBC Capital Markets wrote.On the geopolitical front, oil prices continue to trend upward as US Secretary of State Marco Rubio said at an Association of Southeast Asian Nations meeting in Manila, Philippines, that the US remains "open and willing" to negotiate with Iran but accused Tehran of not being "serious" about talks to end the war. The comments coincide with the widening conflict once again raising global supply risks, including the threats from Yemen's Houthis militia forcing Saudi oil reroutes away from the Red Sea and reciprocal attacks by the US and Iran spreading across neighboring Gulf states."So with no agreements in the pipeline, investors moved to price in a more sustained supply shock. For instance, the front-end Brent future was up +2.01% to $91.01 [per barrel] by yesterday's close, whilst the 6-month Brent future (+0.32%) also hit a 1-month high of $81.26/bbl. And that's continued this morning, with Brent crude up another +1.24% to $92.14/bbl," Deutsche Bank Research said.In trade news, a recent ifo Institute survey found that US tariff policy is "increasingly impacting" Germany's industrial companies and weighing on their investment decisions. Over 60% of surveyed firms reported negative impacts from the levies, with the automotive sector hit the hardest at 74%, a 14% jump from last year, as the sector faces higher tariffs and declining exports to the US.

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Commodities5d ago

Hindustan Petroleum Reports Strong Q1 Operations, Expands Energy Transition

India's state-owned Hindustan Petroleum reported Q1 2027 earnings Wednesday, showing total crude throughput of 6.52 million metric tons.Sales, including exports, increased 0.6% year over year to 13.12 mmt, the company said.The company's Visakh refinery processed 3.97 mmt of crude and operated at 106% of capacity for the quarter ended June 30.The Mumbai refinery processed 2.55 mmt and operated at 108% of capacity, according to the company.Combined motor spirit and high-speed diesel sales increased 8.1% over the year to 8.8 mmt.Liquefied petroleum gas sales reached 1.729 mmt, while pipeline throughput totaled 6.61 mmt for the quarter.Hindustan Petroleum advanced its refining expansion after HPCL Rajasthan Refinery declared commercial operations on June 22. The company also received in-principle approval for all-weather operations at the HPLNG Chhara terminal.Hindustan Petroleum expanded its network to 25,160 retail outlets, 6,391 liquefied petroleum gas distributors and 54,586 piped natural gas connections.Hindustan Petroleum continued to advance its energy transition strategy with 2,289 compressed natural gas stations, 5,806 electric vehicle charging stations and 23,928 solarized retail outlets.The company also commissioned solar projects with a combined capacity of 16.9 megawatts at Jalgaon and Jhansi.

FTSE 100$0KOD.L$EZJ.L$FRES.L$SGRO.L

FTSE 100 Rallies as UK Inflation Falls

London's FTSE 100 closed 1.28% higher on Wednesday as investors welcomed a cooler-than-expected UK inflation reading, helping offset concerns over rising oil prices amid escalating tensions in the Middle East.Britain's annual inflation eased to 2.6% in June from 2.8% in May, according to data from the Office for National Statistics, coming in below the 2.7% consensus forecast. The softer reading was driven by slower growth in motor fuel and food prices."Far lower food prices than the Bank of England (BoE) expected should help relieve rate setters' fears about increases in salient prices fueling inflation expectations. Alongside the slowdown in services price growth, that rules out a rate hike at next week's 30 July BoE meeting. In any case, we think the labour market is too weak for second round effects (a new price-wage spiral) to take hold," Berenberg said.Meanwhile, oil prices remained elevated as geopolitical tensions intensified. Brent crude settled above $90 a barrel for the first time in more than a month. "And this morning we've seen a further rise above $92/bbl, so there's little sign of oil prices easing as the US confirmed overnight they'd completed an 11th consecutive evening of strikes against Iran," Deutsche Bank Research said.Markets also kept a close watch on diplomatic efforts regarding the ongoing Middle East conflict after US Secretary of State Marco Rubio confirmed that the US remains prepared to negotiate with Iran. However, uncertainty remains over whether Tehran will return to talks.In corporate news, Segro (SGRO.L) jumped 3.15% to land among top stocks on the blue-chip index after Prologis (0KOD.L) raised its takeover offer for the industrial and data center property company to 14 billion pounds sterling. US-based real estate investment trust Prologis said the offer is "final and will not be increased." Segro rejected its previous offer of 13.5 billion pounds.Fresnillo (FRES.L) gained 3.55% after saying it is on course to meet expectations. For 2026, the miner affirmed production guidance of 42 million ounces to 46.5 million ounces for attributable silver, as well as for gold, lead and zinc. The company also maintained its production outlook for 2027 and 2028.Mid-cap constituent easyJet (EZJ.L) tumbled 11.82% after Reuters reported that the European Union is preparing to review its airline ownership rules to prevent foreign investors from gaining effective control of carriers in the region. The move could create fresh hurdles for competing bids for the budget airline from US-based Apollo Global Management and Castlelake.

3M's Implied H2 Guidance 'Conservative,' RBC Says

3M's (MMM) implied guidance for the second half of the year is "conservative," in line with its "under-promise, over-deliver" playbook, RBC Capital Markets analysts said in a Tuesday note.Analysts said the company's Q2 results were a "strong" beat, driven by upside organic growth in its Safety and Industrial and Transportation and Electronics businesses.RBC said the biggest surprise in the company's quarterly report was Safety and Industrial organic growth of 8.2%, surpassing expectations of 5%, and double-digit growth in electrical markets, industrial adhesives, abrasives, and industrial specialties.The company expects continued momentum in general industrial, safety, and datacenter, and continued softness in consumer and consumer electronics, analysts said.RBC retained an underperform rating on the stock, but increased its price target to $132 from $123.Price: $173.08, Change: $+2.32, Percent Change: +1.36%

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Commodities5d ago

EQT Signs Long-term Power, LNG Deals as Robust Production Lifts Q2 Results, TPH Says

EQT (EQT) signs a series of commercial deals with power and LNG customers while reporting stronger-than-expected Q2 operating performance, as the US natural gas producer seeks to capitalize on rising domestic electricity demand and export growth, TPH Energy strategists said on Wednesday.The energy firm signed a 10-year agreement to supply 325,000 dekatherms per day of natural gas to the CPV Shay power plant in West Virginia, under a pricing structure linked to the PJM power market.Jake Roberts, analyst at TPH, said that deliveries are projected to begin as early as 2031.The agreement is one of EQT's most significant moves to date to secure long-term demand from the power sector, where electricity consumption is forecasted to rise amid the expansion of data centers and artificial intelligence infrastructure.EQT also signed an LNG offtake agreement for 0.5 million metric tons per annum beginning in 2028 and agreed to acquire Blackline Midstream, which owns two propane storage and distribution terminals in the US Northeast, for $77 million.The US energy firm reported Q2 financial results that beat estimates, buoyed by higher production volumes, better price realizations, and lower capital expenditures.Production reached 634 billion cubic feet equivalent, above the company's guidance range and ahead of TPH analyst expectations, driven by stronger well performance, compression optimization and fewer production curtailments.EQT raised its full-year production guidance by 90 bcfe to a range of 2.38 trillion to 2.45 trillion cubic feet equivalent, citing stronger-than-expected compression performance and lower base production declines.The company lowered its maintenance capital outlook by $25 million but increased expected equity contributions by $85 million as it accelerates spending on the Mountain Valley Pipeline Southgate project, targeting completion by the end of 2026. Total capital spending guidance now stands at roughly $2.89 billion.For Q3, EQT forecasts production of 570 bcfe to 620 bcfe and capital spending of about $830 million.Price: $52.84, Change: $+3.04, Percent Change: +6.10%

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5E Advanced Materials Signs New Offtake Agreements to Supply Boric Acid

5E Advanced Materials (FEAM) said Wednesday it signed offtake heads of agreement with two clients in the chemicals sector to supply technical grade boric acid from its Fort Cady Integrated Boron facility in southern California.Each agreement carries an initial five-calendar-year term with an automatic five-year renewal, for a total term of up to 10 years, the company said.The agreements provide for total annual volumes of 1,900 to 7,100 short tons, according to the company.Shares of 5E Advanced Materials were up more than 2% in Wednesday trading.Price: $1.10, Change: $+0.02, Percent Change: +2.34%

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Danaher Posts Mixed Q2 Results, Outlook for 2027 and Beyond Strengthened, RBC Says

Danaher's (DHR) Q2 results were mixed, with the lumpier part of its bioprocess consumables business delivering a negative surprise, while the outlook for 2027 and beyond strengthened compared with three months ago, RBC Capital Markets said in a note Tuesday.The Life Sciences segment grew 5.5% in Q2, led by improved demand for pharma and biopharma products and stability in academic and government demand. Danaher believes the demand is sustainable and lifted its Life Sciences guidance accordingly, according to the note.Bioprocess consumables and equipment orders both grew in the mid-teens percentage range in Q2, which is an important demand signal, the brokerage said.The company raised its 2026 adjusted earnings per share guidance to $8.45 to $8.60 from $8.35 to $8.55, reflecting approximately $0.07 to $0.08 from the Q2 beat and around $0.07 to $0.08 from Masimo's early close, partially offset by a slightly lower second-half outlook. The brokerage also raised its EPS forecast by the amount of the Masimo accretion, it added.RBC kept an outperform rating on Danaher and raised its price target to $215 from $200.Price: $176.56, Change: $-2.45, Percent Change: -1.37%

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Scotiabank Expects Q3 Net Income of C$82 Million From KeyCorp Stake

Scotiabank (BNS.TO) expects an C$82 million net income contribution from its KeyCorp stake in the fiscal third-quarter, the company said on Wednesday.The contribution will rise to C$90 million after adjusting for an C$8 million amortization of acquired intangible assets, the bank said.Scotiabank will release its fiscal third-quarter financial results on August 25.Scotiabank shares were last seen up C$0.05, to C$123.43, on the Toronto Stock Exchange.Price: $123.28, Change: $-0.10, Percent Change: -0.08%

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Gambling.com Changes Name to Grandstand

Gambling.com (GAMB) said Wednesday that it has changed its corporate name to Grandstand.At the market opening on Thursday, the company's shares will begin trading on Nasdaq under the ticker symbol "GRSD," the company said.The Gambling.com consumer brand will continue to operate under its existing name, the company said.Gambling.com shares were up 1.9% in Wednesday trading.Price: $1.88, Change: $+0.02, Percent Change: +1.35%

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