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C.H. Robinson Shares Decline After Supreme Court Allows Negligence Suit

C.H. Robinson Worldwide (CHRW) shares, along with other freight brokers, were down around midday Thursday following the US Supreme Court decision on a negligence lawsuit against the company.The court reversed a Court of Appeals decision and the case, which accuses C.H. Robinson of liability for a vehicular accident that involved a trucking company it had hired, was remanded for further proceedings, according to a court order Thursday.Shares of C.H. Robinson were down 2.5%, RXO (RXO) stock fell past 5%, and Landstar System (LSTR) shares were nearly 2% lower in Thursday trading.Price: $159.20, Change: $-4.07, Percent Change: -2.49%

$CHRW$LSTR$RXO

Wire55d ago

Walmart to Post Strong Q1, Extending Retail Lead on Sales Growth, UBS Says

Walmart (WMT) is expected to report a strong Q1, with US sales, profit growth, international strength, online gains, pricing power and newer revenue streams supporting further upside, UBS said in a note Wednesday.UBS said Walmart US comparable sales are expected to rise about 4.5%, helped by more than 25% growth in online sales, though weaker pharmacy trends may weigh on store sales, while Walmart US and international operating income could come in at least near the high end of the company's 6% to 8% growth range.The investment firm expects Sam's Club earnings to be roughly flat from a year earlier because the business faces a tougher comparison, though Walmart may raise its full-year earnings outlook if Q1 earnings come in ahead of expectations, though higher fuel costs remain a risk.Higher gas prices could pressure costs, but Walmart may still gain market share as shoppers look for lower prices, according to the note.UBS kept its buy rating and $147 price target for Walmart.Price: $132.03, Change: $+0.56, Percent Change: +0.43%

$WMT

Mining & Metals55d ago

TSX up Near 250 Points at Midday, Led by Tech and Healthcare Sectors

The Toronto Stock Exchange is up 247 points with most sectors higher midday Thursday.The best performers are info tech and healthcare, up 2.1% and 1.5%, respective.The mining sector has shed 1.8%, dragged by precious-metals prices: gold is down 0.3% and silver, down 4.5%Canada March wholesale sales (excluding petroleum and grains) rose 1.9% to $89 billion, above the 1.3% consensus forecast. Sales increased in five of the seven subsectors, led by machinery, equipment and supplies, Statistics Canada said. Wholesale sales were 3.3% higher in March than in the same month one year earlier.Canada and Alberta will meet on Friday and advance a potential pipeline to transport at least one million barrels of Alberta oil a day to new markets, Prime Minister Mark Carney said on Thursday, Reuters reports.In stocks, Manulife (MFC.TO) shares are down 6.3% to $51.16 per share with 4.4-million shares being traded, after it reported a core earnings miss after trade on Wednesday.

S&P/TSX CompositeS&P/TSX Composite$MFC.TO

Oil & Energy55d ago

Hormuz Crude Shipments Inch Higher as Supertankers Sail Out, Bloomberg Analysis Says

The exports of unsanctioned crude via the Strait of Hormuz have edged higher in recent days, providing a slight reprieve for global markets grappling with the most severe supply disruption on record, Bloomberg analysis showed on Thursday.Four supertankers carrying about 2 million barrels each, primarily of Iraqi origin, have transited the Hormuz since May 10.The recent rate of about 2 million barrels per day remains a fraction of pre-war activity, when an average of 20 tankers of various sizes crossed the strategic waterway daily.Market participants are closely monitoring flows via the Strait as a prolonged blockage has already removed an estimated 1 billion barrels from the global balance.Though non-Iranian shipments have shown a marginal uptick, exports from the country have fallen steeply following the implementation of a US blockade.Vessel tracking data shows that some vessels have recently crossed the Hormuz with satellite tracking systems turned off, suggesting the number of transits could rise once those ships reappear outside the region.The strategic waterway has remained largely closed since the outbreak of the Middle East conflict in late February and has been subject to an ongoing US-Iran standoff.Earlier in May, Iran outlined a revised procedure for ships seeking to transit the Hormuz, requiring engagement with the newly established Persian Gulf Strait Authority.Simultaneously, the US has maintained restrictions on Iranian port access from the edge of the Gulf of Oman.Of the four vessels that have recently departed with their tracking signals active, three loaded crude oil in Iraq, while the fourth carried cargoes from the UAE and Kuwait.On Thursday, Iran said it is now permitting Chinese vessels to transit the Strait following discussions with China's Ministry of Foreign Affairs. Supertanker Yuan Hua Hu, which crossed the Hormuz on Wednesday, became the third Chinese Very Large Crude Carrier to pass through the waterway.

Wire55d ago

CTS Maintains Quarterly Dividend at $0.04 per Share, Payable July 24 to Holders of Record June 26

$CTS

Wire55d ago

Update: Morgan Stanley Lifts Price Target on Alibaba to $190 From $180, Maintains Overweight Rating

(Updates with Morgan Stanley's commentary.)Morgan Stanley raised its price target on Alibaba (BABA) to $190 From $180 while keeping its overweight rating.The brokerage said Alibaba subsidiary Alicloud "delivered on all key matrices" it tests and the tech firm showed "rapid AI [artificial intelligence] product revenue growth."External Alicloud revenue increased 44% in fiscal Q1 2027 and Alibaba expects the unit's margin to increase to 11% in fiscal Q1 2027, Morgan Stanley said in its note.Alibaba has an average rating of buy and mean price target of $191.17, 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: $142.96, Change: $-2.85, Percent Change: -1.95%

$BABA

Wire55d ago

Market Chatter: Boeing Set to Get Order for 200 Jets From China, Trump Says

Boeing (BA) is set to get an order for 200 jets, Fox News reported Thursday, citing President Donald Trump in an interview.Boeing 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: $228.78, Change: $-11.83, Percent Change: -4.91%

$BA

Oil & Energy55d ago

Market Chatter: Vitol Offers Iraqi Crude Outside Hormuz as Some Tankers Resume Exports

Vitol is offering Iraqi Basrah crude outside the Strait of Hormuz, signaling that some oil cargoes may now be leaving the Persian Gulf, Bloomberg reported Thursday, citing people familiar with the matter.Sources said Vitol recently marketed Basrah Medium and Basrah Heavy cargoes via ship-to-ship transfers near Fujairah in the UAE.Since the conflict and blockade around the Strait of Hormuz began, traders have rarely sold Iraqi crude cargoes in spot markets because most Gulf oil exports struggled to leave the region.Adnoc was among the first Gulf producers to move crude cargoes out through the Strait of Hormuz after shipments stalled across the region.Iraq loads most Basrah crude from terminals inside the Persian Gulf, while its state-owned State Organization for Marketing of Oil usually sells cargoes through long-term supply agreements and partnerships in oil fields, the report said.Problems securing tankers for Iraqi shipments have reduced crude exports and weakened SOMO revenue, leading the state oil marketer to offer discounts on cargoes loading this month.Bloomberg tanker-tracking data showed the tanker Agios Fanourios I reversed course near the US naval line outside the Gulf after carrying 2 million barrels of Basrah crude toward Vietnam earlier this week.Kpler data showed the Kiara M exited the Strait of Hormuz on May 10 after loading Iraqi crude in April, then transferred the cargo to another tanker near Sohar.In response to' query, a Vitol spokesperson said that the firm had no 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.)

Treasury55d ago

BMO Notes Leaders in Artificial Intelligence Exports

A large portion of the spending wave on the Artificial Intelligence (AI) buildout in the United States is in fact directed at imports, said Bank of Montreal (BMO).Of course, some exporting economies are on the other side of those sales, pointed out the bank.BMO has recently noted the blast-off in Taiwan, whose exports to the U.S. have rocketed 98% year over year in the most recent three months. This, in turn, has lifted that economy's real gross domestic product by almost 14% in the last year alone, the fastest growth in nearly 40 years.A little less spectacularly, but still impressive, Vietnam grew more than 8% year over year in Q1, while Indonesia was up 5.6%, and the large and more mature South Korean economy has expanded a solid 3.6% year over year, added the bank.All are faster than pre-COVID norms. On a weighted basis, these four have accelerated from 3.3% GDP growth a year ago to 6.8% in Q1.With a total weight of about 4% of global GDP, these medium-sized economies account for 0.3 percentage point -- or about 10% -- of the world's current 3% growth, according to BMO.

$CXY

Wire55d ago

Textron Unit Secures Order for Three Additional Bell Helicopters

Textron's (TXT) Bell Textron unit said Thursday that Life Flight Network has ordered three additional Bell 407GXi helicopters.These aircraft will join the network's existing fleet for rapid response and exceptional emergency medical care, the firm said.Price: $91.48, Change: $+0.10, Percent Change: +0.11%

$TXT

Wire55d ago

Trump Says Boeing Set to Receive Order for 200 Jets, Fox News Reports

$BA

Wire55d ago

POET Technologies Teams Up With Lumilens for Wafer-Level Photonic Integration Project

POET Technologies (POET) and Lumilens said Thursday they have signed a supply agreement for a partnership to develop a new class of wafer-level photonic integration for artificial intelligence infrastructure.Lumilens has placed an initial purchase order with POET for Electrical-Optical Interposer-based engines valued at $50 million, the companies said, adding that orders may increase to more than $500 million over five years.POET has granted Lumilens a warrant to buy up to about 22.9 million shares, exercisable over nine years at $8.25 per share, the companies said.The warrant is immediately exercisable for nearly 2.3 million shares, with the rest of the shares vesting and becoming exercisable in tranches linked to payments by Lumilens for purchase orders totaling up to $500 million, according to the companies.POET shares were up more than 33% in Thursday trading.Price: $19.13, Change: $+4.76, Percent Change: +33.09%

$POET

Research55d ago

Research Alert: CFRA Raises Opinion On Shares Of Ppl Corporation From Hold To Buy

CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:We lift our 12-month target by $1 to $42, 21.0x our next-12-month EPS estimate of $1.99, near peers based on PPL's strong EPS and dividend growth potential. Our 2026 EPS view is kept at $1.95, and we initiate 2027 EPS at $2.12. Recent rate case outcomes have been largely constructive, which we think reduces execution risk and supports our confidence in timely cost recovery for the aggressive capital program. PPL guides for $23 billion in capital investments from 2026 to 2029, which it expects to translate into a 10.3% rate base CAGR, above peer growth rates, in our view. The Blackstone Infrastructure joint venture (51% PPL, 49% Blackstone) is gaining significant momentum, with gas turbine reservation agreements executed and multiple generation projects submitted into PJM's interconnection queue. This JV structure is particularly compelling because it provides exposure to merchant-like returns on generation assets serving captive data center loads under long-term contracts with "regulated-like" risk profiles.

$PPL

Wire55d ago

Biogen's 'Leqembi' Subcutaneous Approval Still Likely Despite FDA Delay, RBC Says

Biogen (BIIB) still appears likely to secure approval for the subcutaneous induction version of Alzheimer's drug "Leqembi" despite a delayed US Food and Drug Administration review, with recent regulatory precedents and existing clinical data supporting a favorable outcome, RBC Capital Markets said in a report Thursday.Regulators may need more time to assess safety aspects of the filing, particularly the risk of Amyloid-Related Imaging Abnormalities-Edema/Effusion, or ARIA-E events, in treatment-naive patients. Still, Leqembi's subcutaneous maintenance version is already approved and the data has effectively been under FDA review for about seven months.The filing relies on pharmacokinetic and pharmacodynamic, or PK/PD, modeling showing that a 500 mg weekly subcutaneous dose should produce results similar to the approved intravenous version, RBC said, adding that past cases involving non-Chemistry, Manufacturing and Controls FDA review delays have generally resulted in eventual approvals, even though there is no exact precedent for Leqembi's specific situation.RBC has an outperform rating on Biogen, with a price target of $222.Shares of Biogen were down more than 5% in Thursday trading.Price: $194.19, Change: $-10.34, Percent Change: -5.06%

$BIIB

Commodities55d ago

US Import Fuel Prices Saw Biggest Jump Since 2022, Bureau of Labor Statistics Says

US import prices for fuel and lubricants jumped 16.3% in April, marking the largest monthly increase since prices rose 17.8% in March 2022, the US Bureau of Labor Statistics said Thursday.Fuel and lubricant import prices accelerated after rising 10% in March, as higher petroleum costs outweighed falling natural gas prices.Import prices for petroleum and petroleum products climbed 19% over the month, driving most of the increase in overall fuel import costs.Import natural gas prices moved in the opposite direction during April, falling 22.1% from the previous month, according to the data.Prices for imported fuels and lubricants increased 20% over the year.Over the past 12 months, the price index for imported petroleum and petroleum products rose 22%, the data showed.Natural gas import prices edged up 0.1% over the year despite the sharp monthly decline recorded in April, the agency added.

Mining & Metals55d ago

Market Chatter: Honda "Indefinitely Suspends" a C$15-Billion EV Plant in Ontario

Honda Motor (HMC) is suspending a C$15 billion electric-vehicle manufacturing plant planned for Ontario as its raises it focus on hybrid-vehicle production, CTV News reported.The company said it is "indefinitely suspending" the project as the company reported its first-ever annual loss on Thursday, the news service reported, due to the costs of its EV strategy as the Trump Administration ended subsidies and lowered emission standards for internal-combustion vehicles.The project, backed by C$5 billion in subsidies from the federal and Ontario government, would have created 1,000 jobs at the company's Alliston, Ontario, manufacturing facility and produce 240,000 EVs annually.Honda said the suspension will not affect current production or employment at its Alliston operations.(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: $25.62, Change: $+1.25, Percent Change: +5.13%

$CXY$HMC

Wire55d ago

Ingram Micro Selected as Global Distributor for Hewlett Packard Enterprise

Ingram Micro (INGM) said Thursday it was selected as a global distributor for Hewlett Packard Enterprise (HPE) that offer it expanded territory reach and full access to its portfolio spanning cloud to artificial intelligence.The designation positions the company to deliver value at scale due to the introduction of enhanced services and support through the Ingram Micro HPE Partner Growth Accelerator Program, according to a statement.Ingram Micro said it is now one of two global HPE distributors, giving greater market access across countries.Price: $26.51, Change: $+0.68, Percent Change: +2.63%

$HPE$INGM

Wire55d ago

Street Color: Boeing Getting 200 Jets Order From China, Fox News Reports

$BA

Wire55d ago

Nvidia's Rubin Chip Production on Track in Q2, but Rack-Level Cooling Issues Delaying Mass Production, UBS Says

Nvidia's (NVDA) Rubin chip and compute board production is on track in the current quarter, but rack-level cooling issues is pushing rack mass production into the September timeframe, which should be offset by robust demand for Blackwell, UBS said in a Wednesday research report.There is potential for a new share repurchase program commitment of up to $150 billion over the next 12 months, while investors expect a larger dividend commitment in the current quarter, analysts wrote. The company is due to report fiscal Q1 results on May 20.UBS said it expects 2027 and 2028 EPS of $14.35 and $17.07, respectively, on revenue of $607 billion and $710 billion. For 2026, the brokerage now expects revenue of $400 billion from $393 billion earlier.The company's GTC messaging regarding system-level design implies that it continues to offer more value to clients as the competitive landscape evolves, according to UBS.The brokerage said it reiterated its buy rating on the stock and boosted its price target to $275 per share from $245.Price: $236.15, Change: $+10.32, Percent Change: +4.57%

$NVDA

Asia Markets55d ago

German Shares Jump; Siemens Rises on Mermec Asset Acquisition

German equities rose on Thursday, as investor attention remained focused on the ongoing two-day summit between US President Donald Trump and Chinese President Xi Jinping.Amid a quiet day for local economic news, the blue-chip DAX index ended the trading day 1.32% in the green.Trump and Xi are expected to discuss trade, technology, Iran, and Taiwan, with investors monitoring potential deals on tariffs and artificial intelligence. Semiconductor stocks rallied globally after Reuters reported, citing sources familiar with the matter, that the US cleared Nvidia (NVD.F) to sell its H200 AI chips to 10 Chinese tech companies, including Alibaba, ByteDance, and JD.com.Against this backdrop, German semiconductor manufacturer Infineon Technologies (IFX.F) became the blue-chip index's best performer, climbing 5.76%, while Nvidia's Frankfurt-listed shares gained 4.43%.In other corporate updates, Siemens' (SIE.F) mobility division agreed to buy several core units of Italian railway signaling systems company Mermec Group to bolster its international rail technology portfolio. The acquisition specifically involves Mermec's businesses in Italian wayside signaling, electrification, telecommunication, diagnostics, analytics, and worldwide data infrastructure. The German technology conglomerate gained 2.59% at close.Meanwhile, RBC Capital Markets said Allianz (ALV.F) continues to deliver at a "high level" after the German insurer and asset manager reported that its first-quarter operating profit climbed 6.6% to a record level of 4.52 billion euros and affirmed it remains on track to hit its full-year 2026 operating profit target of 17.4 billion euros, plus or minus 1 billion euros. The stock climbed 2.15%."Allianz's scale and diversification again paid dividends in Q1, with [property and casualty and asset management] in particular well positioned in the current macro environment. Modestly higher inflation expectations seem a net positive for the company. We are now towards the upper-end of FY26 operating profit guidance, with low double-digit implied upside to our unchanged [target price of 400 euros], a premium multiple to composite peers," the research firm wrote, with a sector perform rating.

^DAX$ALV.F$IFX.F$NVD.F$SIE.F

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Asia Markets55d ago

German Shares Jump; Siemens Rises on Mermec Asset Acquisition

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