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Barclays Upgrades Occidental Petroleum to Overweight From Equal Weight, Adjusts PT to $72 From $59

Occidental Petroleum (OXY) has an average rating of Hold and mean price target of $65.33, 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)

$OXY

Equities50d ago

Barclays Downgrades Expand Energy to Equalweight From Overweight, Price Target is $127

Expand Energy (EXE) has an average rating of buy and mean price target of $132.19, 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)

$EXE

Treasury50d ago

National Bank Sees Canada's GDP Growing 1.0% This Year But Trade Uncertainty Is Main Risk

The Canadian economy remains under pressure despite the resource sector's strong performance, as trade tensions with the United States continue to hold back non-resource exports, said National Bank of Canada.Amid this climate of uncertainty, the labor market is experiencing its worst start to the year since 2009 -- excluding the COVID-19 pandemic -- with widespread job losses, particularly acute in Quebec, noted the bank.Rising oil prices linked to geopolitical tensions are eroding household purchasing power, weighing on consumption, while rate increases and population contraction are further dampening real estate activity, stated National Bank.Despite the energy shock, underlying inflationary pressures remain contained in Canada, in stark contrast to the U.S., which argues for the Bank of Canada to maintain the status quo this year, added the bank.In National Bank's baseline scenario, the Canadian gross domestic product is projected to grow by 1.0% this year, supported by a renewal of the CUSMA trade deal, although trade uncertainty remains the main risk to the economic outlook.

$CXY

Equities50d ago

BofA Securities Adjusts Price Target on Marathon Petroleum to $260 From $224

Marathon Petroleum (MPC) has an average rating of overweight and mean price target of $266.18, 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)

$MPC

Mining & Metals50d ago

Curaleaf Announcing 1-for-3 Reverse Stock Split in Preparation for U.S. Stock Exchange Uplisting

Curaleaf (CURA.TO), an international provider of consumer cannabis products, announced Tuesday that a 1-for-3 reverse stock split of its shares will become effective on or about June 5, 2026, as the company prepares for U.S. Stock Exchange uplisting, in response to cannabis rescheduling in that country.Curaleaf's board has approved a proposal to effect a reverse stock split of the company's subordinate voting shares at a ratio of one post-consolidation share for each three pre-consolidation shares, a statement said. This initiative is being done in consultation with major U.S. stock exchanges, and is expected to enable the company to uplist as soon as the opportunity is available, it added.Shares in CURA rose $0.08 or 1.7% at $4.70 in Canada yesterday.

$CURA.TO$HMMJ.TO

Commodities50d ago

Market Chatter: Singapore Diplomat Expects Large-Scale Investment Imminent in Renewables

Singapore's chief climate diplomat Ravi Menon expects fresh, large-scale investment in the renewables sector, with concerns related to energy security and supply chain expected to boost demand and revenue, Bloomberg reported Tuesday.The rising worldwide demand for clean energy industry inputs is expected to result in an increase in prices in the future, unless the industry capacity manages to catch up, Menon told Bloomberg News.Considering the expectations of rise in demand and prices, investment by institutional investors and hedge funds must have already made its way into the sector, said Menon, who served as the chief of the Monetary Authority of Singapore for over 12 years before retiring in 2024.The ongoing energy supply crisis resulting from the Iran war has led to a surge in demand for renewables, with countries heavily reliant on fossil fuels eyeing energy independence, the report said. Countries like South Korea and the Philippines are looking to speed up such projects, it added.A longer-term shift back to coal, a strategy adopted by several Asian countries including India to combat power shortages, could however dent the progress of renewables, Menon 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.)

Research50d ago

Gibson Energy Upgraded to Buy at TD

Gibson Energy Inc. (GEI.TO) was upgraded to Buy from Hold at TD Securities on Tuesday.Analyst Aaron MacNeil raised his price target on shares of the Calgary-based midstream oilfield service company to $32 from $29."We believe that Gibson's 7% infrastructure growth target is being de-risked by an improving macro backdrop, which we expect will translate into capital-light brownfield opportunities," MacNeil said in a note to clients."While sector valuations are elevated relative to history, Gibson remains toward the lower end of the peer group, trading at a 2027E multiple of 10.3x vs. the peer average of 12.2x," the analyst said."We believe this discount has partially stemmed from a lack of visibility to the growth outlook," MacNeil said. "As such, we see the potential to narrow the gap to its peers as opportunities materialize."

$GEI.TO

Equities50d ago

Ecopetrol Begins Tender Offer for 25% Stake in Brava Energia

Ecopetrol's (EC) Brazilian unit launched a voluntary tender offer to acquire about a 25% stake in Brava Energia at $23 Brazilian real ($4.59) per share, representing 116.1 million shares, Ecopetrol said Tuesday.The offer represents a roughly 20.9% premium to the 90-day volume-weighted average price and is part of a broader deal that could give Ecopetrol a 51% controlling stake.The tender offer will remain open until June 25, it added.

$EC

Mining & Metals50d ago

Earnings Flash (LUCA.V) Luca Mining Reports Q1 Revs $57.6M, Net Earnings of $12.6M, and Adjusted EBITDA of $25.4M

$LUCA.V

Commodities50d ago

Japan Could Increase May Oil Imports to Three-Quarters of Pre-War Level, Bloomberg Data Show

Japan will increase its imports of crude oil in May to 1.7 million barrels a day as its refiners find supplies in areas not affected by Iran's closure of the Strait of Hormuz, Bloomberg analysis showed on Tuesday.The May import estimate would be about three-quarters of what Japan imported around the same time a year ago, during a time of relative normalcy for energy markets.Bloomberg made the estimate using its vessel-tracking data as of May 19 and said imports could be higher than the government's estimates due to independently-purchased oil cargoes from the US and Saudi Arabia transiting the Red Sea.It is possible that some of these cargoes could be rerouted away from Japan, Bloomberg said, with destination switching seen more frequently since the Iran war began in late February.Japanese government had forecast that 1.4 million barrels per day of Middle Eastern crude, not transiting the Strait of Hormuz plus crude from the US, would reach Japan each day.About 90% of Japan's crude oil comes from the Middle East, forcing both the government and private companies to search for alternatives since the start of the Iran war, the article said.Japan has twice released reserves to stabilize the market and now has about 202 days of oil left, down from 243 at the end of February when the war started, Bloomberg said.

Mining & Metals50d ago

Quarterhill Selected by Utah Department of Transportation to Deploy Advanced Tolling Back-Office Platform

Quarterhill (QTRH.TO) has been selected by the Utah Department of Transportation (UDOT) to deploy its tolling back-office and customer service platform across the I-15 Express Lanes network under a $6.3 million contract, the company said on Tuesday.It is not clear if the figure is in USD, but the company does report its results in USD.UDOT will operate on Quarterhill's advanced, modular back-office solution that automatically routes, assigns, and resolves transactions, surfacing exceptions before they escalate, said the company, and added that the platform integrates natively with enterprise resource planning, customer service, and operational systems agencies already run."For UDOT, it replaces the patchwork of dashboards and manual workflows that have historically defined back-office tolling, delivering a unified, auditable, real-time operational view," said the company.The five-year contract includes five optional one-year extensions and covers transaction processing, account management, customer service center operations, and full support for the UDOT Express Lanes program, added the company."Tolling back-office systems have lagged behind the rest of the transportation stack for too long. Agencies have been forced to operate across disconnected tools with limited visibility and slow change cycles," said Chuck Myers, Chief Executive Officer of Quarterhill. "What we're bringing to UDOT is fundamentally different: a solution where rules, roles, and workflows live in one place, exceptions are caught automatically, and every action is traceable. UDOT will be able to adapt the system as their program evolves, without downtime, without rebuilds, and without losing the customer experience drivers expect."

$QTRH.TO

Asia50d ago

CSPC Pharma Gets Registration Nod for Ulcer Drug in China

CSPC Pharmaceutical (HKG:1093) obtained drug registration approval for its Lansoprazole Enteric-coated Capsules from China's National Medical Products Administration, according to a Tuesday Hong Kong bourse filing.The product is indicated to treat gastric ulcer, duodenal ulcer, reflux esophagitis, Zollinger-Ellison syndrome, and anastomotic ulcer.

HKG:1093

Research50d ago

Pembina Pipeline Price Target Raised to $72 at CIBC

CIBC Capital Markets raised its price target on Pembina Pipeline Corp. (PPL.TO) to $72 from $68.Analyst Robert Catellier maintained an Outperformer rating on shares of the Calgary-based energy transportation and infrastructure company."We view Pembina's sanctioning of the Heartland Extraction Plant, alongside the expansion of its long-term supply agreement with Dow Inc. (DOW), as further validation of the constructive LPG outlook while supporting management's targeted 5%-7% fee-based EBITDA/share growth through 2030," Catellier said in a note to clients."One key dynamic to monitor.... is the growing importance of labour availability and equipment procurement as infrastructure activity accelerates across the basin," the analyst said."In our view, early positioning on both fronts will be increasingly critical to maintain project timelines and capital discipline."(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)

$PPL.TO

Mining & Metals50d ago

Bombardier Providing Three Global Aircraft to Australia For Maritime Surveillance

Bombardier (BBD-B.TO) will provide three Global 6500 aircraft to fly maritime surveillance missions for the Australian Border Force, the company said on Tuesday.This program will introduce the Global platform in Australia. Bombardier Learjet and Challenger aircraft already perform search-and-rescue and medical evacuation missions in the country, a statement said.U.S. military contractor Metrea will operate the aircraft for the Australian Border Force.Bombardier shares closed down $0.62, to $295.92 on Monday on the Toronto Stock Exchange.

$BBD-B.TO

Japan50d ago

Progress on Potential Middle East Peace Deal Drives US Equity Futures Higher Pre-Bell

US equity futures were edging higher pre-bell Tuesday as traders monitored the US-Iran situation for a potential peace agreement to end the Middle East war.Dow Jones Industrial Average futures were 0.6% higher, S&P 500 futures were up 0.7%, and Nasdaq futures were 1% higher.US Secretary of State Marco Rubio said that negotiations could "take a few days." Both sides said they have made progress on a potential memorandum of understanding that would end the war and provide 60 days for negotiators to reach a final deal.The framework of the memorandum is focused on halting the war and the US naval blockade in exchange for Iran ensuring safe transit in the Strait of Hormuz, according to Iranian foreign ministry spokesperson Esmaeil Baghaei.Traders observed the latest round of earnings, with AutoZone (AZO) reporting an increase in fiscal Q3 net income and net sales.Oil prices were mixed, with front-month global benchmark North Sea Brent crude up 2.8% at $96 per barrel and US West Texas Intermediate crude 4.1% lower at $92.61 per barrel.The Chicago Fed National Activity Index, due at 8:30 am ET, is seen coming in at negative 0.03 in April versus negative 0.20 in the prior month, according to estimates compiled by Bloomberg.The March S&P Case-Shiller home price index is scheduled for release at 9 am ET. The May consumer confidence index, due at 10 am ET, is projected to fall to 92.0 from 92.8.

Dow JonesNasdaq CompositeS&P 500$AZO

Asia50d ago

Orient International Enterprise Directors Approve 490 Million Yuan of Outward Investments in 2026

Orient International Enterprise (SHA:600278) directors approved 490 million yuan in outward investments in 2026, according to a Tuesday filing with the Shanghai bourse.The amount is 7 million yuan lower than the 2025 figure.Seven subsidiaries and the headquarters are approved to apply up to 440 million yuan, while the other subsidiaries will be approved to apply for the remaining 50 million yuan.

SHA:600278

Mining & Metals50d ago

Smackover Lithium Announcing Award of Last Key Construction Contract for South West Arkansas Project Ahead of Final Investment Decision

$SLI.V

Asia50d ago

Kurita Water Industries Declares Higher Year-End Dividend

Kurita Water Industries (TYO:6370) declared a year-end dividend of 56 yen per share for the fiscal year ended March 31, matching earlier forecasts and higher than the 46 yen per share paid a year ago.The total dividend payment amounts to 6.15 billion yen, payable from retained earnings on June 26, according to a Tokyo bourse filing on Tuesday.For the fiscal year ending March 31, 2027, Kurita Water Industries expects a total dividend of 112 yen per share, consisting of an interim and year-end dividend of 56 yen each.

TYO:6370

Mining & Metals50d ago

Arrow Exploration Puts Icaco 1 Well On production in Colombia

Arrow Exploration Corp (AXL.V, AIM:AXL) told investors that its Icaco 1 exploration well in Colombia is now on production after encountering multiple hydrocarbon-bearing intervals, lifting total gross corporate output to around 5,100 barrels of oil equivalent per day, the company said earlier Tuesday.IC-1, on the Tapir Block in the Llanos Basin, was drilled on time and under budget to a total measured depth of 7,800 feet. Log analysis showed 30 feet of pay in the Carbonera C7 formation, 15 feet in the Gacheta and 26 feet in the Ubaque, it added.AXL was down $0.02 or 4.55% at $0.42 yesterday, but it remains at the high end of 52 week trading range.

$AXL.V

Asia50d ago

Xiaomi Eyes HK$20 Billion Share Buyback

Xiaomi (HKG:1810) is launching a new share repurchase program effective June 2 to buy back up to HK$20 billion of class B shares over the next 12 months, according to a Tuesday Hong Kong bourse filing.The tech giant will subsequently cancel the repurchased shares.The buyback is subject to shareholder approval.

HKG:1810

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