Financial News · Live Terminal

Page 1435 of 2549

Dolphin Drilling Expands Backlog With New Harbour Energy North Sea Deal

Dolphin Drilling secured a new UK North Sea contract worth about $150 million that extends work for the Paul B. Loyd Jr. rig through August 2030, the company said Monday.Harbour Energy awarded the contract for the semi-submersible Paul B. Loyd Jr. rig in the UK sector of the North Sea following a letter of intent announced on April 7, Dolphin Drilling said.The new agreement will begin after the current firm term expires and adds about $150 million in firm backlog while extending earnings visibility through 2030, the company said.Harbour Energy also secured options to extend the rig contract for as long as five additional years under the agreement."It provides both parties with stability and the platform to continue to deliver safe and efficient operations," Dolphin Drilling Chief Executive Officer Michael Boyd said.Dolphin Drilling also extended the Blackford Dolphin drilling contract with Oil India for work east of India, the company said.The Blackford Dolphin rig will remain under contract through the end of July 2026 to complete drilling, testing and abandonment activities under the existing contract terms, the company said.Dolphin Drilling increased its firm contract backlog to $362 million and holds another $849 million in letters of intent and options, Boyd said.

Oil & Energy54d ago

US Oil Update: Crude Rallies as US-Iran Impasse Dashes Hopes for Peace Deal

Crude oil futures surged in midday trading on Tuesday as prospects for a peace deal to end the conflict between the US and Iran dimmed, as the two countries' stark differences pushed global supply concerns back to the fore.Front-month West Texas Intermediate crude futures rose by 3.40% to $101.44 per barrel, while Brent futures were up 2.97% to $107.30/bbl.On Monday, President Trump said that the ceasefire with Iran was on "life support," citing differences over Iran's demands to end hostilities on all fronts, lifting of a US naval blockade, the resumption of Iranian oil sales and compensation for war damage.Tehran also emphasized its sovereignty over the Strait of Hormuz, a strategic waterway that normally handles about 20% of global oil and liquefied natural gas.During a White House interaction with reporters on Monday, Trump said that the response from Iran to his latest offer was a "piece of garbage", while noting that "it's just a question of time" with Tehran, the US does not need to rush.Iran's parliament speaker Mohammad-Bagher Ghalibaf posted on X on Tuesday, "There is no alternative but to accept the rights of the Iranian people as laid out in the 14-point proposal."Separately, Ebrahim Rezaei, a spokesperson for the Iranian parliament's foreign policy and security committee, said the country could enrich uranium to up to 90% purity if the US-Israeli alliance launches another attack, according to Iranian media."Oil prices climbed for a second day as the global oil market continued to tighten amid limited prospects for a reopening of the Strait of Hormuz," Saxo Bank strategists said in a note Monday.Meanwhile, shipping via the Hormuz has slowed to a trickle, with data analytics firm Kpler projecting that 79% of 53 vessels which entered the Persian Gulf before the outbreak of the conflict are unable to exit.Daniel Hynes, senior commodity strategist at ANZ, said Trump is considering renewing Project Freedom, aimed at guiding vessels through the Strait.The first attempt triggered attacks by Iranian forces on a US military vessel and the UAE's key oil export facility at Fujairah, Hynes said.On the supply front, disruptions to crude oil production in the Middle East have surged since April, with major Gulf producers collectively shutting in about 10.5 million barrels per day, according to the US Energy Information Administration's latest Short-Term Energy Outlook.The EIA said Iraq, Saudi Arabia, Kuwait, the UAE, Qatar and Bahrain have all curtailed output amid the ongoing Middle East conflict, with the Hormuz assumed to remain effectively closed until late May.The agency now projects global crude inventories to fall by an average of 8.5 million barrels per day in Q2, while prices will average $89 per barrel by Q4.

Wire54d ago

Update: Power Solutions International Shares Drop After Q1 Adjusted Earnings, Revenue Fall

Power Solutions International (PSIX) shares were down about 40% in afternoon trading Tuesday, a day after the company posted lower Q1 adjusted earnings and revenue.The company reported quarterly adjusted earnings late Monday of $0.36 per diluted share, down from $0.83 a year earlier.One analyst polled by FactSet expected $0.52.Revenue for the three months ended March 31 was $128.6 million, down from $135.4 million a year earlier.Two analysts surveyed by FactSet expected $160.8 million.The company said it expects Q2 revenue to be "generally consistent" with Q1.Power Solutions International said it is not providing full-year guidance at this time amid "ongoing variability in order timing and market conditions."Price: $37.77, Change: $-24.69, Percent Change: -39.53%

$PSIX

Wire54d ago

Hyster-Yale Raises Quarterly Dividend to $0.365 a Share From $0.36, Payable June 16 to Shareholders of Record as of June 1

$HY

Research54d ago

Research Alert: Integrated Oil & Gas Fundamental Outlook: Neutral, But Reflecting Mixed Views

CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:WTI crude oil sits at $101/b today vs. $67/b before U.S. attacks on Iran on February 28, with the Strait of Hormuz largely closed creating an 11-12 mmb/d supply shortage. Independent refiners reported strong Q1 margins, while April CPI hit 3.8%, the highest in three years. We remain neutral on Integrated Oil & Gas, liking downstream but wary of upstream prospects given mixed fundamentals. We estimate WTI averaging $99/b in 2026 but see it falling to $63/b in 2027 due to adverse economic effects on the broader global economy, and UAE departing OPEC, presuming Strait reopening in 2H 2026. We think refining has tailwinds from wider Brent-WTI spreads at $6/b vs. normalized $3.50-$4.00/b and reduced U.S. capacity after two California refinery closures. We anticipate wider refining margins in 2026 and likely into 2027, while most of our upstream EPS estimates are below consensus for 2027.

$XOM

US Markets54d ago

Equities Fall Intraday Amid Tech Sell-Off

US benchmark equity indexes were mostly lower intraday, weighed down by a technology sell-off, as investors assessed the latest consumer inflation report.The Nasdaq Composite was down 1.5% at 25,886.7 after midday Tuesday, while the S&P 500 fell 0.6% to 7,368.1. Both indexes hit new peaks in the previous session. The Dow Jones Industrial Average was little changed at 49,708.5.Among sectors, tech saw the steepest decline, shedding 2%, while healthcare paced the gainers.Shares of several big tech names were down intraday Tuesday, with Qualcomm (QCOM) sliding 13%, the worst performer on the S&P 500. Intel (INTC) followed Qualcomm on the index, down 9.3%. Salesforce (CRM) declined 2.9%, the steepest decline on the Dow.Oracle (ORCL), Advanced Micro Devices (AMD) and Dell Technologies (DELL) fell about 5% each. Amazon.com (AMZN) and IBM (IBM) also logged declines, with Microsoft (MSFT) and Nvidia (NVDA) marginally lower.In economic news, US annual consumer inflation accelerated in April to the fastest pace in almost three years as energy prices surged amid the near-complete closure of the Strait of Hormuz. Core inflation, which excludes the volatile food and energy components, accelerated to the fastest since September, official data showed."A hotter-than-expected CPI report underscores the ongoing impact of higher energy prices seeping further into the economy with the core jumping to a seven-month high," Stifel Chief Economist Lindsey Piegza said in a note emailed to.Energy prices surged nearly 18% annually last month, marking the biggest jump since September 2022, official data showed."This morning's numbers reinforce why the (Federal Reserve) needs to remain patient," Thomas Feltmate, senior economist at TD Economics, said in a report. "With secondary price effects from higher energy prices likely to intensify in the months ahead, we're likely to see core measures of inflation drift a bit higher and hover around 3% through year-end."The Fed, which late last month kept its policy rate steady for a third consecutive meeting, is widely expected to stay put again next month, according to the CME FedWatch tool.US Treasury yields were higher intraday Tuesday, with the 10-year rate up 4.9 basis points at 4.46% and the two-year rate rising 4.4 basis points to 4.01%.West Texas Intermediate crude was up 3.7% at $101.67 per barrel intraday Tuesday, while Brent rose 3.3% to $107.66.US President Donald Trump recently rejected Iran's counteroffer to end the war, extending uncertainty around oil flows through the crucial Strait of Hormuz.Trump is now more seriously considering restarting military operations against Iran than he has in recent weeks, CNN reported, citing his aides."The global oil market continued to tighten amid limited prospects for a reopening of the Strait of Hormuz." Saxo Bank said in a report.In company news, EBay (EBAY) rejected video game retailer GameStop's (GME) proposal to acquire the e-commerce company in what would have been a $55.5 billion deal. EBAY shares were up 0.8% intraday, while GameStop fell 0.7%.Gold was down 0.9% at $4,688.10 per troy ounce, while silver lost 0.4% to $85.60 per ounce.

Dow JonesNasdaq CompositeS&P 500$AMD$AMZN$CRM$DELL$EBAY$GME$IBM$INTC$MSFT$NVDA$ORCL$QCOM

Mining & Metals54d ago

Inomin Mines Up 24% as It Starts a $2.3 Million Exploration Program at Beaver-Lynx With Sumitomo

Inomin Mines (MINE.V) shares were last seen up 24% after the company started its 2026 exploration program at the 28,000-hectare Beaver-Lynx polymetallic project in south-central British Columbia, with Sumitomo Metal Mining Canada.The about $2.3 million program is the largest single exploration investment at Beaver-Lynx to date and includes first-ever drilling at the Lynx block, said the company. The program will focus on nearly 4,100 meters of drilling at the Onuki zone, a six square-kilometer target within the Lynx area.Previous outcrop sampling at Onuki returned values up to 2,640 parts per million of nickel. A detailed ground magnetic survey is underway at Onuki to refine drill targeting.Subject to permitting process of the Beaver block, some drillholes at Onuki zone will be reallocated to the Beaver South zone to continue expanding the mineralized footprint and advance the project, it said.Shares of the company were last seen up $0.025 to $0.13 on the TSX Venture Exchange.Price: $0.13, Change: $+0.03, Percent Change: +23.81%

$MINE.V

International54d ago

Daily Roundup of Key US Economic Data for May 12

The consumer price index rose by 0.6% in April after a 0.9% gain in the previous month and was up 0.4% excluding food and energy prices after a 0.2% gain.The gain lifted the year-over-year increase to 3.8% from 3.3% in March, while the core measure was up 2.8% year-over-year after a 2.6% rate in the previous month.Food prices rose by 0.5%, while energy prices increased by 3.8%. Gasoline prices alone were up 5.4%.Owners' equivalent rents rose by 0.5% and regular rents were also up 0.5%, both faster than in the previous month and accounting for about one-third of the overall gain.In addition, prices of new vehicles fell by 0.2% after a 0.1% gain in the previous month and used vehicle prices held steady after a 0.4% decline.The National Federation of Independent Business' monthly sentiment index rose to 95.9 in April from 95.8 in March, with gains in seven of the 10 components, particularly the earnings trend."Inflationary pressures continue to be a challenge for Main Street," said NFIB Chief Economist Bill Dunkelberg. "While small business optimism is currently fragile, the benefits of the Working Families Tax Cut Act should start to feed into the private sector over the next few months."The US Treasury reported a $215.02 billion budget surplus in April, smaller than the $258.40 billion deficit reported in April 2025. The fiscal year-to-date gap narrowed to $953.56 billion from $1.049 trillion.Redbook reported that US same-store retail sales were up 9.6% year-over-year in the week ended May 9, stronger than a 7.8% gain in the prior week due to seasonal sales and Mother's Day spending.

International54d ago

US Treasury April Budget Surplus Smaller Than Expected, Narrower Than Year Ago

The US Treasury posted a $215.02 billion budget surplus in April compared with the $220 billion surplus expected in a survey compiled by Bloomberg and smaller than the $258.40 billion budget surplus a year earlier.The monthly deficit was $164.1 billion in March.Through the first seven months of the fiscal year, the deficit is $953.56 billion, smaller than a $1.048 trillion gap in the same period a year earlier.

Sectors54d ago

Sector Update: Energy Stocks Rise Tuesday Afternoon

Energy stocks gained Tuesday afternoon with the NYSE Energy Sector Index rising 0.7% and the State Street Energy Select Sector SPDR ETF (XLE) adding 1.1%.The Philadelphia Oil Service Sector Index climbed 1.4%, and the Dow Jones US Utilities Index edged up 0.1%.Oil prices rose as a faltering ceasefire between the US and Iran kept the Strait of Hormuz closed. Front-month West Texas Intermediate gained 3.6% to $101.57 a barrel, and global benchmark Brent advanced 3.1% to $107.43 a barrel.Henry Hub natural gas futures fell 3.1% to $2.819 per 1 million BTU.In corporate news, Targa Resources (TRGP) is positioned for growth into 2026 and beyond, supported by strong Permian volume growth and potential upside from commodity price tailwinds, RBC Capital Markets said. Targa shares gained 1.3%.Eni (E) asked Morgan Stanley (MS) to help it raise funds from investors, including Apollo (APO), KKR (KKR), and Stonepeak, in a potential deal backed by its floating liquefied natural gas assets, Reuters reported. Eni shares rose 0.6%.Shell (SHEL) plans to divest its gasoline station network in France, according to a Google translation of a report from French newspaper Les Echos. Shell shares eased 0.1%.

$E$SHEL$TRGP

Oil & Energy54d ago

EIA to Release Quarterly Energy Security Dataset on Global SPRs, Shipping Chokepoints

The US Energy Information Administration will start releasing a new quarterly energy security dataset from Wednesday, the agency said in a Tuesday update.The dataset will include information on global Strategic Petroleum Reserves and petroleum and liquefied natural gas flows through vital shipping chokepoints.It will be published separately from the EIA's Short-Term Energy Outlook, based on the availability of underlying datasets necessary for the analysis."The timing of resumed oil flows through the Strait of Hormuz and the subsequent rate at which Middle Eastern producers restore output are key factors influencing EIA's price forecast through year end," said Tristan Abbey, EIA Administrator.The new datasets will track global strategic stocks and shipping chokepoints for petroleum and gas markets, providing timely context and additional depth, Abbey noted.

International54d ago

US April Treasury Budget Surplus $215.02 Billion Vs $220 Billion Surplus Expected, April 2025 $258.40 Billion Surplus

Research54d ago

Research Alert: CFRA Keeps Buy Opinion On Shares Of George Weston Limited

CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:We maintain WN at Buy and our target at CAD107, based on our unchanged multiple of 19x our projected FY 27 EPS. We keep our FY 26 EPS estimate at CAD5.10 and FY 27 at CAD5.62. Our rating remains grounded in continued same-store sales (SSS) growth and its best-in-class value offering to the market in a time of affordability issues. WN is reaping the benefits of a stickier inflationary period and plans for nearly half of new stores opened in 2026 to be No Frills or Maxi logos. The company reported Q1 revenue of CAD14,639M, up 4.2% from the prior year. Adjusted net earnings rose 2.9% to CAD349M, while adjusted diluted EPS increased 5.8% to CAD0.91. Loblaw generated revenue of CAD14,484M, up 4.2%, with food retail same-store sales growth of 2.4% and drug retail same-store sales growth of 4.1%. Food sales increased on higher traffic and basket size, with internal food inflation below the 4.4% Consumer Price Index. The discount theme continues to grow as energy ricing remains elevated, stretching the consumer.

$WN

Sectors54d ago

Update: Gold Trading Lower as the Dollar and Yields Rise as U.S. Inflation Surged Last Month

(Updates prices.)Gold moved lower midafternoon Tuesday, dropping for a second day as the dollar and yields rose after the United States reported inflation continued to surge last month on higher energy prices that followed the war on Iran.Gold for June delivery was last seen down $43.50 to US$4,685.20 per ounce.The U.S. Bureau of Labor Statistics reported the April Consumer Price Index (CPI) rose at a 3.8% annualized pace, up from 3.3% in March, but matching expectations according to Marketwatch.Core CPI, excluding food and energy costs, rose 2.8%, up from 2.6% a month earlier, and above consensus estimates for a 2.7% rise.The rise comes as the Strait of Hormuz has been blocked since Feb. 28, when the United States and Israel launched the war on Iran, keeping 20% of daily oil demand supplied by Persian Gulf nations from the market, creating the largest-ever energy supply shock and raising oil prices by nearly half.Rising energy costs have raised concerns central banks will hike interest rates to slow inflation, sending investors to bonds and the dollar and keeping gold rangebound."Gold's rally has paused as higher real rates cap upside, but ongoing geopolitical risks and solid central-bank demand should provide downside support," TD Economics wrote.The dollar rose following the CPI report, with the ICE dollar index last seen up 0.42 points to 98.38. Treasury yields also rose, with the yield on the U.S. two-year note up 4.0 basis points to 4.006%, while the 10-year note was paying 4.46%, up 4.7 points.

$GCM6$GLD

Wire54d ago

Top Midday Decliners

Power Solutions International (PSIX) reported late Monday lower-than-expected adjusted EPS and revenue in Q1.Shares sank 40% following a surge in intraday trading volume to over 4.0 million from a daily average of about 675,000.ZoomInfo Technologies (GTM) shares fell about 33% following its Q1 results in the previous day that led some analysts, including from Stifel and Piper Sandler, to downgrade the stock.The firm faces execution risk in delivering a material re-acceleration in top-line growth amid job cuts, and a downward revision to its full-year 2026 sales guidance is discouraging, RBC Capital Markets said in a note.Trading volume jumped to more than 24.6 million shares intra-day from a daily average of about 10.1 million.Piper Sandler downgraded LENZ Therapeutics (LENZ) to neutral from overweight and cut its price target to $12 from $39, following the company's Q1 results late Monday that showed net loss more than doubled from a year ago.Shares dropped about 24%, with intraday trading volume of over 1.6 million, versus a daily average of about 910,000.Price: $37.47, Change: $-24.98, Percent Change: -40.00%

$GTM$LENZ$PSIX

Wire54d ago

Alphabet's Google Launches Googlebook AI-Powered Laptops

Alphabet's (GOOG, GOOGL) Google said Tuesday it is introducing Googlebook, a new category of laptops built around its artificial intelligence models and Gemini Intelligence.The company said Googlebook is designed to integrate Android and ChromeOS, marking a shift toward what it describes as an "intelligence system" rather than a traditional operating system.Being part of the Android ecosystem, users will be able to access and use files from their phones directly on Googlebook laptops without requiring file transfers, the company said.Google said it is working with partners including Acer, Asus, Dell (DELL), HP (HPQ) and Lenovo to launch the first Googlebook laptops.Price: $381.74, Change: $-5.03, Percent Change: -1.30%

$DELL$GOOG$GOOGL$HPQ

Sectors54d ago

Sector Update: Financial Stocks Advance Tuesday Afternoon

Financial stocks were higher in Tuesday afternoon trading, with the NYSE Financial Index rising 0.4% and the State Street Financial Select Sector SPDR ETF (XLF) adding 0.9%.The Philadelphia Housing Index was down 0.9%, and the State Street Real Estate Select Sector SPDR ETF (XLRE) was up 0.1%.Bitcoin (BTC-USD) was falling 1.8% to $80,257, and the yield for 10-year US Treasuries climbed 4.5 basis points to 4.455%.In economic news, the US seasonally adjusted consumer price index jumped by 3.8% in April from 3.3% in the prior month, according to data released Tuesday by the Bureau of Labor Statistics, compared with the 3.7% consensus. Core CPI, which excludes food and energy prices, climbed by 2.8% from 2.6%, versus expectations for 2.7%.The CPI increased 0.6% in April, as expected, following a 0.9% increase in the previous month. Core CPI gained 0.4%, higher than the consensus estimate for a 0.3% increase. Core CPI rose by 0.2% in March.In corporate news, the Department of Justice said Tuesday it secured a settlement with PayPal (PYPL) under which the company must launch a new Small Business Initiative that excludes criteria based on national origin, race or other protected characteristics. PayPal shares rose 1.2%.JPMorgan Chase (JPM) Chief Executive Jamie Dimon said Tuesday on Bloomberg TV that financial markets may be showing "a little bit too much exuberance" given current inflation risks and geopolitical tensions. JPMorgan shares were up 1.6%.Carlyle (CG) and Yum China (YUMC) are among the companies seeking to acquire Jardine Matheson restaurant unit, which runs KFC and Pizza Hut chains in Hong Kong, Taiwan, and other Asian locations, in a deal worth around $400 million, Reuters reported. Carlyle shares added 0.8%.

$CG$JPM$PYPL

Commodities54d ago

US Natural Gas Update: Futures Drop on Supply Overhang

US natural gas futures extended earlier declines in midday trading as renewed focus on a domestic supply surplus offset volatility triggered earlier in the week by geopolitical headlines surrounding the lack of progress in opening the Strait of Hormuz.The front-month Henry Hub contract and the continuous contract both fell 3.33% to $2.814 per million British thermal units.Market participants pointed to a softer demand profile as a key near-term driver. US gas consumption eased to 98.7 billion cubic feet per day from 105 Bcf/d last week amid milder weather conditions, according to NRG Energy. The decline in heating and cooling loads added to already ample storage expectations.Weather outlooks, however, remain mixed. The US National Weather Service is forecasting above-normal temperatures for May 19-25, which could lift power burn demand as cooling needs rise.The US Energy Information Administration's latest Short-Term Energy Outlook projects electricity demand growth of 1.3% in 2026 to nearly 4,250 billion kilowatt-hours, accelerating to a 3.1% increase in 2027. The agency also noted a structural shift, with commercial sector demand expected to outpace residential consumption for the first time on record by 2027.On the supply side, US dry gas production rose 4% over the year to 120.2 Bcf/d in Q1, with further growth expected through 2027. Output gains are being led by the Permian and Haynesville basins, where production is forecast to rise around 6%.The EIA also revised its production outlook higher by 1% for 2026 and 2% for 2027, citing stronger crude prices and rising gas-to-oil ratios in the Permian Basin.Daily output was estimated at roughly 107.2 Bcf/d on Tuesday, NRG said.LNG flows are also shaping near-term balances. US LNG export capacity increased by 0.9 Bcf/d in April, supported by start-ups including Golden Pass Train 1 and Corpus Christi Stage 3. A further 0.2 Bcf/d from Corpus Christi Train 6 is expected this summer.Despite rising capacity, actual feedgas deliveries were running at around 17 Bcf/d on Tuesday, below nameplate levels due to scheduled maintenance, NRG said. The temporary slowdown in export flows is effectively redirecting supply back into the domestic market, adding to inventories and weighing on prices.

Sectors54d ago

Sector Update: Healthcare Stocks Gain in Afternoon Trading

Healthcare stocks rose Tuesday afternoon, with the NYSE Healthcare Index adding 2.1% and the State Street Healthcare Select Sector SPDR ETF (XLV) climbing 2.2%.The iShares Biotechnology ETF (IBB) increased 1.4%.In corporate news, Alkermes (ALKS) shares jumped past 5% after it said Tuesday a late-stage trial evaluating its investigational Lumryz oral suspension in adults with idiopathic hypersomnia, a rare condition in which patients require excessive sleep, met all primary and key secondary endpoints.Sonida Senior Living's (SNDA) recent stock decline was unwarranted given the broad-based strength in its Q1 results, RBC Capital Markets said in a note. RBC reiterated its outperform rating on the stock and raised its price target to $45 per share from $39. Sonida shares added 1.5%.Agios Pharmaceuticals (AGIO) shares rose 1% after it said Tuesday it has submitted a supplemental New Drug Application to the US Food and Drug Administration seeking accelerated approval of mitapivat for the treatment of sickle cell disease.

$AGIO$ALKS$SNDA

Mining & Metals54d ago

ATEX Resources Begins Trading On OTCQX Best Market; Shares up 3.7%

ATEX Resources (ATX.TO) on Tuesday said its shares are now trading on the OTCQX Best Market under the ATXRF symbol.The company is upgrading to OTCQX from the OTCQB Venture Market, it added."Trading on OTCQX marks an important milestone, enhancing our visibility in the U.S. and making it easier for North American investors to access and trade our shares," said Chris Beer, Interim President and Chief Executive Officer. "This quotation expands our reach as we continue advancing the Valeriano Copper-Gold Project and focus on delivering long-term value for shareholders."The company's shares were last seen up $0.12 at $3.33 on the Toronto Stock Exchange.Price: $3.32, Change: $+0.11, Percent Change: +3.43%

$ATX.TO

Showing 28681-28700 of 50964

US Markets54d ago

Equities Fall Intraday Amid Tech Sell-Off

Dow JonesNasdaq CompositeS&P 500$AMD$AMZN$CRM$DELL$EBAY$GME$IBM$INTC$MSFT$NVDA$ORCL$QCOM