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Update: PayPal Reaches $30 Million Settlement With DOJ Over DEI Investment Program

(Updates with PayPal's response to a request for comment in the last paragraph.)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.Under the initiative, PayPal must waive processing fees totaling roughly $30 million for eligible small businesses that are veteran-owned or engaged in manufacturing, farming or technology, the DOJ said.The settlement stems from an investigation "into a discriminatory investment program created for black and minority-owned businesses," the DOJ said."For more than two decades, PayPal has helped small businesses start, scale, and thrive by expanding access to digital financial tools," a PayPal spokesperson said in an emailed statement. "We're excited to launch the Small Business Initiative to infuse American small businesses with even more economic opportunity."Price: $45.59, Change: $+0.52, Percent Change: +1.15%

$PYPL

Treasury54d ago

US 10-Year Auction High Yield Rises From Previous Auction, Demand Lower

The US Treasury's 10-year auction hit a high yield of 4.468% on Tuesday, up from the 4.282% high in the previous auction.The bid to cover ratio for the auction was 2.40, below the 2.43 ratio in the previous auction.Dealers represented 55.55% of the bids, with direct bidders at 12.32% and indirect bidders at 32.12%.For takedown, dealers took 11.98%, with direct bidders at 24.07% and indirect bidders at 63.95%.

Sectors54d ago

Sector Update: Consumer

Consumer stocks were mixed Tuesday afternoon, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) rising 1.9% and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) down 1.4%.In corporate 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. GameStop shares fell 1.4%, and EBay increased 0.6%.

$EBAY$GME

Treasury54d ago

US 10-Year High Yield 4.468% vs 4.282% Previous; Bid/Cover 2.40 vs 2.43 Previous

Research54d ago

Research Alert: CFRA Keeps Hold Opinion On Shares Of The Aes Corporation

CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:Our 12-month target is unchanged at $16, 6.5x our 2027 EPS estimate of $2.39, a significant discount to AES's five-year forward average of 10.3x and peer valuations. We note that our target sits above the $15.00 per-share deal price, and we maintain Hold, as we see limited upside beyond the offer while acknowledging some risk that the transaction may not close on current terms. Should the deal close as expected in late 2026 or early 2027, shareholders would receive $15.00 in cash; our modestly higher target reflects residual optionality around a potential price bump or deal failure that could re-rate shares. We lower both our 2026 and 2027 EPS estimates by $0.01 to $2.29 and $2.39, respectively. We expect revenue growth of approximately 4.2% in 2026, reflecting contributions from new renewables projects as AES works through its project backlog. We anticipate an adjusted EBITDA margin near 24% in 2026 compared to approximately 23.5% in 2025.

$AES

Mining & Metals54d ago

InZinc Mining Starts Diamond Drill Program at High-Grade Apex Discovery

InZinc Mining (IZN.V) on Tuesday said its 2026 diamond drilling program at the Indy Sedex polymetallic project in central British Columbia is underway.The program of up to seven drill holes will focus on expanding the high-grade discovery at the B-9 Apex Zone, now recognized as a replacement-style Sedex mineralization. Drilling will test for up-dip and down-dip extensions and along strike for up to 350 meters, the company said."We are very excited to get an early start on follow-up expansion of the high-grade discovery at Apex and to continue the achievements gained across 2025 at Indy," said chief executive Wayne Hubert.Shares of the company were last seen unchanged at $0.06 on the TSX Venture Exchange.

$IZN.V

Wire54d ago

PayPal Reaches $30 Million Settlement With DOJ Over DEI Investment Program

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.Under the initiative, PayPal must waive processing fees totaling roughly $30 million for eligible small businesses that are veteran-owned or engaged in manufacturing, farming or technology, the DOJ said.The settlement stems from an investigation "into a discriminatory investment program created for black and minority-owned businesses," the DOJ said.PayPal didn't immediately reply to a request for comment from.Price: $45.53, Change: $+0.45, Percent Change: +1.01%

$PYPL

Commodities54d ago

EMEA Natural Gas Update: Rhetoric and Supply Disruptions Continue to Support Market

European natural gas futures gave back earlier gains in late trading on Tuesday but still closed higher, as markets reacted to escalating geopolitical rhetoric alongside ongoing supply constraints in Europe.The front-month Dutch TTF contract rose 0.696% to 46.555 euros ($54.63) per megawatt-hour, while the UK NBP front-month rose 1.058% to 114.63 British pence ($1.55) per therm.Sentiment was underpinned by continued Middle East risk after Iranian parliamentary national security and foreign policy commission spokesperson Ebrahim Rezaei said Tehran could consider doubling down on enriching uranium if attacked again. "One of Iran's options in the event of another attack could be 90 percent enrichment," Rezaei said in a social media post, adding the issue would be reviewed in parliament, news outlets reported.News reports also indicated that at least one additional LNG carrier had moved through the embattled Strait of Hormuz over the weekend. Bloomberg said a second Qatari LNG tanker had exited the strait, with the vessel Mihzem later tracked in the Gulf of Oman en route to Pakistan and appearing fully laden.Meanwhile, European supply fundamentals remained tight. Norway's Hammerfest LNG terminal, one of the region's key export facilities, is still offline due to a mechanical valve fault that halted production last week. The plant, which has a capacity of roughly 18.4 million cubic meters per day, is scheduled to restart at 1800 GMT on Wednesday, Reuters reported.Weather models added a mixed signal for demand. Atmospheric G2 flagged the possibility of a cooler, windier pattern moving in from the northeast around May 25, which could lift heating demand later in the month.On storage, Gas Infrastructure Europe data showed EU gas inventories at 35.36% of capacity, sharply below 42.82% at the same point last year, underscoring some of the region's challenges heading into the refill season.

US Markets54d ago

Oracle Set to Post Strong Results Amid Tech Infrastructure Spending, Oppenheimer Says

Oracle's (ORCL) fiscal fourth-quarter results are likely to benefit from robust spending on technology infrastructure, Oppenheimer said in a note emailed Tuesday.The cloud computing company is scheduled to release its quarterly results in June.Oracle's largest customers, partners and suppliers showed strong tech infrastructure spending in the calendar first quarter, Oppenheimer analysts Brian Schwartz and Idan Gutkind wrote.Advanced Micro Devices (AMD), which Oracle counts as one of its largest cloud infrastructure customers, expects the server central processing unit market to reach more than $120 billion by 2030, up from a $60 billion total addressable market previously projected.This "bodes well for Oracle achieving and/or exceeding (fiscal fourth-quarter) and medium-term guidance since it likely reflects greater than expected IT demand that Oracle will supply to its customers," Schwartz and Gutkind said.Oracle's restructuring, which reportedly includes some 30,000 job cuts, is another "positive" development heading into the print, the duo wrote.Oppenheimer is projecting fourth-quarter earnings per share of $1.98 for Oracle on revenue of $18.9 billion. Analysts in the FactSet poll are looking for non-GAAP EPS of $1.95 and sales of $19.1 billion.In March, Oracle said it expected reported revenue growth of 19% to 21% in the fourth quarter, with cloud sales seen rising 46% to 50%. Non-GAAP EPS was pegged at $1.96 to $2.Oracle is also likely to reap gains from "solid bookings growth" from OpenAI, Meta Platform (META), Nvidia (NVDA) and federal government commitments, the brokerage said. Additionally, Microsoft (MSFT) has outsourced its lower-margin training business to Oracle, Oppenheimer said.In February, Oracle said it was looking to raise up to $50 billion this year to expand its cloud infrastructure business.Oppenheimer raised its price target on Oracle's shares to $235 from $210, while reiterating its outperform rating on the stock.Price: $182.11, Change: $-11.74, Percent Change: -6.05%

$AMD$META$MSFT$NVDA$ORCL

US Markets54d ago

Applied Materials Poised for Slight Quarterly Beat, Strong Outlook, RBC Says

Applied Materials (AMAT) is expected to post fiscal second-quarter results slightly above Wall Street's estimates and provide an upbeat third-quarter outlook amid robust dynamic random-access memory and high-bandwidth memory spending trends, RBC Capital Markets said in a note e-mailed Tuesday.The brokerage projects the semiconductor equipment maker's second-quarter adjusted earnings at $2.64 a share on revenue of $7.65 billion, saying it expects a "slight" beat. Analysts polled by FactSet are looking for non-GAAP EPS of $2.68 and sales of $7.68 billion."DRAM spending trends remain strong on the back of extreme supply tightness and secular HBM demand," RBC analyst Srini Pajjuri said in a note to clients. "We expect the trend to continue through the year as clean room space availability improves and from new greenfield projects in 2027."RBC expects Applied Materials to issue third-quarter guidance 5% to 10% ahead of consensus estimates of $2.89 for adjusted EPS and $8.1 billion in revenue. The brokerage said this would be in line with peers Lam Research (LRCX) and Tokyo Electron and better than those of ASML (ASML) and KLA (KLAC)."(Applied Materials') management typically doesn't offer explicit (wafer fabrication equipment, or WFE) projections, but previously guided for 20% growth in its systems business in (2026), which we believe is tracking ahead," Pajjuri said.RBC raised its price target on the Applied Materials stock to $500 from $430 while reiterating its outperform rating.The company's shares were down 5.8% in Tuesday afternoon trade. The stock has jumped 63% so far this year.Transition to gate all around -- a next-generation transistor architecture for smaller chips -- has been a "key driver" from the company, while Taiwan Semiconductor Manufacturing's (TSM) adoption of back-side power is projected to be a tailwind in the second half of this year, RBC said."Looking ahead, we expect WFE to grow at a double-digit pace for the next (two to three) years driven by (generative artificial intelligence), extreme tightness in DRAM, and growing competition in advanced foundry," Pajjuri said.Applied Materials is scheduled to report its latest results Thursday.Price: $419.71, Change: $-23.91, Percent Change: -5.39%

$AMAT$ASML$KLAC$LRCX$TSM

Wire54d ago

Meta, DESRI Report 850 MW of Power Purchase Agreements

Meta Platforms (META) and DESRI reported Tuesday the signing of850 megawatts of new power purchase agreements in 2026.These agreements include 500 MW in Oklahoma, 200 MW in Texas, and 150 MW in Mississippi, according to the statement.In addition to the 2026 signings, other contracted projects include 150 MW in Texas and 300 MW in Utah, the statement said.DESRI, a renewable energy producer, expects about 1,110 MW of the contracted projects to start construction this year, it added.Price: $600.06, Change: $+1.20, Percent Change: +0.20%

$META

Wire54d ago

PayPal Reaches $30 Million Settlement With Justice Department

$PYPL

Wire54d ago

Market Chatter: Eni Engages Morgan Stanley to Explore Potential LNG Assets Deal With Certain Funds

Eni (E) has 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 Tuesday, citing people familiar with the matter.The discussions are still at an early stage and may not result in a deal, the report said. It added that, if completed, the transaction could raise at least 1 billion euros for Eni.Apollo, Eni, KKR, Morgan Stanley, and Stonepeak declined to comment to Reuters. The companies didn't immediately reply to' request for comments.(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: $55.49, Change: $+0.02, Percent Change: +0.05%

$APO$E$KKR$MS

Mining & Metals54d ago

Paramount Resources Maintained at Sector Perform at National Bank After Q1 Results; Price Target Raised to C$38.00

National Bank Financial on Tuesday reiterated its sector-perform rating on the shares of Paramount Resources (POU.TO) while raising its price target to C$38.00 from C$36.00 following the oil and gas producer's first-quarter results."POU reported first quarter operating & financial results ahead of expectations, including average production of 48.3 mboe/d (50% liquids) and associated CFPS of $0.97 (vs. consensus $0.84) ... Strength of execution remains its hallmark, as it maintains (and augments) momentum and progress towards meaningful value catalysts in the outlook; POU is poised for a 24% return profile (vs. peers 19%) on leverage of 0.3x (in line with peers), while trading at 5.2x 2027e EV/DACF (vs. peers 4.1x). The increase in target price is ascribed to earnings outperformance and tailwinds to forecasts through the outlook," analyst Dan Payne wrote.(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://www..com/contact-us)Price: $30.52, Change: $+1.28, Percent Change: +4.38%

$POU.TO

Wire54d ago

Seaport Global Lifts Price Target on Fox to $71 From $64, Maintains Buy Rating

Fox (FOX) has an average rating of overweight and mean price target of $70.80, 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://www..com/contact-us)Price: $60.09, Change: $-1.09, Percent Change: -1.78%

$FOX$FOXA

Research54d ago

K92 Mining Maintained at Buy at Stifel Canada Following Q1 Results; Price Target Kept at C$39.00

Stifel Canada on Tuesday reiterated its buy rating on the shares of K92 Mining (KNT.TO) and its C$39.00 price target after the Papua New Guinea miner released its first-quarter results."KNT reported Q1/26 adjusted EPS of $0.47 vs. our $0.43 (consensus $0.41) and EBITDA of $179.9Mln vs. our $169.0Mln (consensus $168.6Mln) on pre-released GEO production of 46.7Koz (44.0Koz Au + 1.70Mln lbs Cu + 38.8Koz Ag). Q1/26 EBITDA and EPS beat on higher GEO sales and lower exploration and tax expenses. Q1/26 cash cost of $785/oz (+13% vs. consensus $693/oz) and AISC of $1,421/oz, were above the FY26 guidance range reflecting higher operating costs during Stage 3 ramp up and lower gold head grade of 10.2g/t, partially offset by higher by-product credits. FY26 guidance was reiterated (GEO production of 190-225Koz at a cash cost $710-770/oz and AISC $1,250-1,350/oz) with production weighted to H2/26 from two new mining fronts and completion of expansion enablers. Stage 4 Expansion ventilation electrification is scheduled for mid-2026; and paste-fill practical completion is on track for Q4/26 with final commissioning in Q1/27," analyst Ralph Profiti wrote.(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://www..com/contact-us)Price: $27.84, Change: $+0.32, Percent Change: +1.16%

$KNT.TO

Mining & Metals54d ago

CGI Expands Collaboration With Finnish Retailer Stockmann

CGI (GIB-A.TO) on Tuesday said it expanded its collaboration with Stockmann, a Finnish department store.CGI will help accelerate Stockmann's digital services development by modernizing its technologies and using AI-enabled solutions to improve delivery speed and development quality. In service production, potential disruptions will be proactivity identified and resolved using CGI DigiOps, a statement said."This agreement reflects the trust placed in CGI's ability to deliver business-critical IT services in the retail sector, supporting this targeted transformation. Our goal is to help Stockmann accelerate digital service development and achieve measurable business outcomes." said Peter Jantunen, who heads retail services at CGI.CGI shares were last seen down $2.12, to $87.31 on the Toronto Stock Exchange.Price: $87.46, Change: $-1.97, Percent Change: -2.20%

$GIB-A.TO

Wire54d ago

Market Chatter: Alphabet's Google Discussing Rocket Launch Agreement With SpaceX for Orbital Data Centers

Alphabet's (GOOG, GOOGL) Google unit is discussing a potential rocket launch arrangement with SpaceX to expand orbital data center initiatives, The Wall Street Journal reported Tuesday, citing people familiar with the matter.The search company is also holding discussions with other rocket launch firms regarding the project, according to the news outlet.Google previously announced plans for Project Suncatcher to launch prototype satellites by 2027, the media outlet noted.Google and SpaceX did not immediately respond to' requests 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: $382.71, Change: $-4.06, Percent Change: -1.05%

$GOOG$GOOGL

Wire54d ago

Leidos Wins $2.7 Billion US Army Contract for Hypersonic Weapons Production

Leidos Holdings (LDOS) won a $2.7 billion US Army contract to advance hypersonic weapons programs from prototyping to production.The award combines the Thermal Protection Shield and Common Hypersonic Glide Body programs, a move intended to streamline development and accelerate delivery for both the Army and the Navy, Leidos said Tuesday in a statement.The contract is expected to reduce production timelines and strengthen the supply chain for components, the company said.Price: $130.24, Change: $+2.56, Percent Change: +2.01%

$LDOS

Research54d ago

Research Alert: CFRA Reiterates Hold Opinion On Shares Of Evergy, Inc.

CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:We increase our 12-month target by $5 to $89, 20.7x our next-12-month EPS estimate of $4.28, a discount to peers based on weaker EPS and dividend growth expectations. We raise our 2026 EPS view by $0.12 to $4.24 and raise 2027 EPS by $0.10 to $4.55. EVRG has raised its long-term load growth target significantly, expecting growth to accelerate from 3%-4% in 2026 to an average of 8%-9% from 2026 through 2030, up from the previous estimate of 7%. EVRG's 15GW+ pipeline is structured into tiers: Tier 1 includes ~3.0 GW of active operations and signed ESAs (Panasonic, Meta, Google (2 projects), Beale Infrastructure, and a premier developer) plus ~1.0-1.5 GW of expansion opportunities with these existing ESA customers; Tier 2 involves ~1.5-3.0 GW in advanced discussions, primarily beyond 2030; and Tier 3 represents over 10GW likely in-play post-2030. We expect 3.6% revenue growth in 2026 and 7.3% growth in 2027, led by the continued ramp of the Panasonic advanced manufacturing facility and data center customers.

$EVRG

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US Markets54d ago

Applied Materials Poised for Slight Quarterly Beat, Strong Outlook, RBC Says

$AMAT$ASML$KLAC$LRCX$TSM