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US Equity Indexes Fall, Treasury Yields Jump Amid Hot Inflation Print

US equity indexes fell in Tuesday's midday trading as a hotter-than-expected inflation print for April hit technology and consumer discretionary shares.The Nasdaq dropped 1.2% to 25,939.2, with the S&P 500 down 0.8% to 7,356.5 and the Dow Jones Industrial Average lower by 0.5% to 49,435.8. Technology and consumer discretionary sectors led the decliners.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.US Treasury yields jumped, with the 10-year up 4.1 basis points to 4.45%, the highest since about July. The two-year rate jumped 4.9 basis points to almost 4%, the strongest since June.Meanwhile, oil prices rose as a faltering ceasefire between the US and Iran kept the Strait of Hormuz closed, continuing the largest-ever energy supply shock.West Texas Intermediate crude oil futures jumped 3.6% to $101.58, and Brent crude futures increased 3.4% to $107.63.

Dow JonesNasdaq CompositeS&P 500

Wire54d ago

Targa Resources Well-Positioned for Growth in 2026 and Beyond, RBC Says

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.The brokerage said in a Monday note that higher 2026 guidance was driven by strong Q1 results, an improved outlook for natural gas marketing, LPG export optimization opportunities, and Permian volumes that benefit the company's integrated asset footprint.Targa said Q2 Permian inlet volumes are trending significantly higher than Q1, RBC noted, adding that the company continues to expect low double-digit Permian volume growth in 2026.RBC also highlighted incremental growth visibility from new infrastructure projects, including two natural gas processing plants, Roadrunner III and Copperhead II, both expected to come online in Q1 2028 to support customer-driven demand in the Permian Delaware basin.The note added that headwinds from Waha price-related shut-ins could reverse as additional takeaway capacity comes online, potentially providing upside across TRGP's system.RBC reiterated its outperform rating on the stock and increased its price target to $281 from $270.Price: $255.61, Change: $+2.43, Percent Change: +0.96%

$TRGP

Wire54d ago

JFrog's Q1 Cloud Revenue Beat Shows Strong Usage Trends, Meaningful AI Pull-Through, UBS Says

JFrog's (FROG) Q1 cloud revenue beat was above even the high end of investor expectations, demonstrating strong usage trends and meaningful artificial intelligence pull-through, UBS Securities said in a note Friday.Management has noted that a large AI-native customer from Q1 2025 renewed in Q1 this year while another pending "high-profile" AI-native win is believed to come with Q2 earnings and be a key upside catalyst for the stock, according to the note.The company is benefiting from multiple AI tailwinds, the brokerage said, adding it sees material room for further upward estimate revisions.UBS raised its price target on JFrog to $80 from $60, and maintained its buy rating.Shares of JFrog were down 3.5% in Tuesday trading.Price: $66.57, Change: $-2.45, Percent Change: -3.54%

$FROG

Research54d ago

Barrick Mining Maintained at Buy at Stifel Canada After Q1 Results; Price Target Kept at C$95.00

Stifel Canada on Tuesday maintained its buy rating on the shares of Barrick Mining (ABX.TO, B) and its C$95.00 price target following the company's first-quarter results."Barrick reported stronger Q1/26 adjusted EPS of $0.98 vs. our $0.75 (consensus $0.81) and adjusted EBITDA of $3.93Bln vs. our $3.38Bln (consensus: $3.26Bln) on attributable gold production of 719Koz vs. our 658Koz and higher vs. Q1/26 guidance of 640-680Koz as well as copper production of 49Kt vs. our 42Kt. Q1/26 total cash cost (TCC) of $1,327/oz vs. our $1,453/oz and AISC of $1,708/oz vs. our $1,904/oz are both tracking at the low-end and below FY26 guidance and Q1/26 consolidated FCF of $1.58Bln vs our $1.14Bln (+38% QoQ) results in FCF/GEO of $1,750 FCF/GEO (+35% QoQ). Barrick reiterated FY26 guidance (incl Q2/26 gold production of 730-770Koz or +4.3% QoQ) and sequential growth through H2/26 driven by the Loulo-Gounkoto ramp-up, Goldrush, Kibali, and NGM. A new $3.0Bln NCIB was authorized over 12 months. We estimate at spot gold and copper prices, the NCIB is 2.0% accretive to our Barrick NAVPS," 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: $61.81, Change: $-2.59, Percent Change: -4.02%

$ABX.TO$B

Insider Trading54d ago

Matrix Service Insider Sold Shares Worth $450,173, According to a Recent SEC Filing

John R Hewitt, Director, President & CEO, on May 08, 2026, sold 36,000 shares in Matrix Service (MTRX) for $450,173. Following the Form 4 filing with the SEC, Hewitt has control over a total of 581,806 common shares of the company, with 581,806 shares held directly.SEC Filing:https://www.sec.gov/Archives/edgar/data/866273/000151932126000002/xslF345X05/wk-form4_1778603278.xmlPrice: $11.91, Change: $-0.40, Percent Change: -3.25%

$MTRX

Wire54d ago

Target Q1 Results Set to Validate Turnaround Momentum, UBS Says

Target (TGT) has a compelling catalyst path ahead, with its upcoming Q1 results expected to validate that the company is moving in the right direction, UBS said in a note on Monday.Despite a difficult few years, Target's recovery in 2026 is starting on a positive note. Key headwinds from last year, such as boycotts, one-time tariff costs, and heavy markdown activity, are easing, making the outlook cleaner, the analysts said.At the same time, the benefits of Target's transformation plan are just beginning to show, with efforts focused on simpler operations, better merchandising, and improved in-store experience, the analysts said, adding that the market seems to be starting to recognize this progress as the stock is up about 20% year-to-date. However, the analysts believe there is still significant upside potential ahead.The analysts said the market expects Target to report 1Q comparable sales growth of 4% to 5%, well above the company's guidance and the consensus forecast of around 1%. Recent traffic data also suggests the company may be outperforming Walmart (WMT) and Costco (COST) year-over-year, though comparisons are easier.The analysts said they expect Target to deliver $0.30 to $0.40 in earnings per share upside in Q1, which could lift its full-year EPS outlook to $7.85 to $8.85 from $7.50 to $8.50. Analysts also believe there is room for further upward revisions, with potential to reach $9.50 or more this year. For Q2, the company is expected to guide to low-single-digit comparable sales growth.UBS has a buy rating and a $144 price target on the company. Target is set to report Q1 results on May 20.Price: $121.38, Change: $+2.94, Percent Change: +2.48%

$TGT

Oil & Energy54d ago

Maersk Warns Against Strait of Hormuz Transits as Volatility Persists

Maersk will continue to avoid the Strait of Hormuz for the time being, even as the fragile ceasefire between the US and Iran holds, it said in a Tuesday update.The Danish shipping giant said any decision to move vessels via the Hormuz would be based on continuous risk assessments, close monitoring of security conditions and guidance from relevant authorities and partners."Information is still scarce, and we are urgently seeking clarification," Maersk said, referring to a fragile ceasefire between the US and Iran, adding that information remains limited and maritime certainty is not assured.Maersk welcomed efforts to restore freedom of navigation, including an initiative from the US regarding vessels in the Strait, but said it would factor such measures into its security reviews only once the details are fully understood.The Hormuz, one of the world's most critical energy transit routes, handles about 20% share of global oil and liquefied natural gas shipments. Shipping firms have stepped up risk assessments in recent weeks amid heightened regional tensions.Maersk said the situation remains highly dynamic and its guidance is subject to change as developments unfold.

Wire54d ago

Dyne Can Unlock Value in Two Drug Prospects, RBC Says

Dyne Therapeutics (DYN) reiterated its confidence in upcoming biologics license application submission for Duchenne muscular dystrophy in Q2, RBC Capital Markets said in a Monday report.The report said an accelerated approval is possible in early 2027, assuming priority review, and noted that a confirmatory trial to show functional benefit is being planned.The note also said the firm has reached its target participants in ACHIEVE study for myotonic dystrophy type 1, but will enroll additional patients, with expected readout in early 2027."Overall, we would remain buyers given a platform that can unlock value in muscle, two relatively de-risked drugs (DMD and DM1)," the report said.The note also said the stock continues to trade at a fraction of the $12 billion Novartis (NVS) was willing to pay for RNA therapeutics with Avidity Biosciences acquisition.RBC assigned an outperform, speculative risk rating, and a $30 price target.Price: $17.90, Change: $-0.56, Percent Change: -3.03%

$DYN

Wire54d ago

Alphabet's Google Discussing Rocket Launch Agreement With SpaceX for Orbital Data Centers, WSJ Reports

$GOOG

Wire54d ago

Eni Engages Morgan Stanley to Explore Potential LNG Assets Deal With Certain Funds, Reuters Reports

$E$MS

Research54d ago

Research Alert: CFRA Maintains Hold Opinion On Shares Of Tencent Music Entertainment Group

CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:We lower our target price by USD2 to USD10 using a forward P/E of 10.2x compared to the three-year historical average of 17.4x. We are conservative on valuation given our more cautious view on mid-single-digit earnings growth. We raise our 2026 EPS estimate by RMB0.05 to RMB6.55 for 2026 and keep 2027 at RMB7.00 on revenue projections of RMB36.1B and RMB39.8B, more conservative than the consensus. The company faces significant headwinds from an intensely competitive landscape and the rise of unauthorized AI-generated content, which is pressuring music subscription growth. In response, management is accelerating its strategy to evolve from a traditional streaming service into an integrated, IP-centric music ecosystem. This involves deepening its partnership with the broader Tencent ecosystem, particularly WeChat, and expanding monetization through offline events, merchandise, and innovative fan-based membership models. We see short-term volatility in TME's addressable markets, but management remains confident.

$TME

Research54d ago

Research Alert: CFRA Maintains Sell View On Shares Of Petrobras On Stable Q1 And Pricing Risk

CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:We keep our target of USD17, on 5.0x our 2027 EBITDA. Shares have run ~73% YTD on the escalating Iranian conflict. Q1 saw double-digit adj. EBITDA growth Y/Y on moderate pricing growth and production increases. Yet, FCF was -15% Y/Y due to capex +25%. Gross and net debt also expanded ~10%. We think the Energy sector is overdue for some digestion of gains. PBR has benefited from its higher pricing sensitivity. However, we remain wary of a pullback in prices from a less volatile resolution in the Middle East. While a peace agreement has not been a successful undertaking yet, we believe the administration is focused on keeping gas pricing less volatile for consumers at the pump heading into midterm elections. The risks of successful negotiations and global demand degradation are too considerable to overlook, in our opinion. PBR trades at a 3.4x EBITDA while peers trade at 6.7x. Historically, PBR has traded at a 2.4x discount to peers. We lift our FY 26 EPS to BRL12.40 from BRL10.89 and keep FY 27 at BRL10.13.

$PBR

Wire54d ago

Reddit May Benefit From Google AI Search Changes, RBC Says

Reddit's (RDDT) renewal of its content licensing deal with Alphabet's (GOOG) Google isn't due until early 2027, though the chances of a favorable outcome may be improving, RBC Capital Markets said Tuesday in a report.Google has rolled out updates to its AI Search features that improve link visibility and make it easier for users to see and click through to original sources, RBC said. One change places links directly inside AI responses next to relevant text, which may more clearly attribute information to publishers such as Reddit, the report said.With the renewal approaching, bullish investors are looking for a significant increase to Reddit's current $60 million-a-year agreement with Google, with expectations ranging from $300 million to $500 million annually due to Reddit's "internet-leading citation share." RBC said it is skeptical of that outcome, noting it could set an unattractive precedent for Google's content acquisition costs.RBC rates Reddit stock as sector perform, citing slowing daily active user growth. Better visibility on traffic improvements may be more constructive, and a pickup in referral traffic leading "would obviate the bear case and cause a rerating," the report said.RBC has a $250 price target on the stock.Price: $154.13, Change: $-5.38, Percent Change: -3.37%

$GOOG$GOOGL$RDDT

Commodities54d ago

Ethanol Makers' Corn Use Unchanged for 2025-2026, Soybean Oil Use for Biodiesel Rises, USDA Says

Ethanol makers will use 5.6 billion bushels of corn in the 2025-2026 marketing year that started on Sept. 1, the US Department of Agriculture forecast in a monthly report Tuesday.The figure is unchanged from the April outlook for 5.6 billion bushels, according to the report.Total US corn use for 2025/26 is forecast at 16.46 billion bushels. That's slightly below 16.47 bb in last month's outlook.The USDA's first estimate for corn use for ethanol in 2026-2027 was pegged at 5.6 bb, with total US corn use at 16.20 bb.Biodiesel makers will use 14.2 billion pounds of soybean oil in the 2025-2026 marketing year, which began Oct. 1. That's up from 14 billion pounds from the April outlook, and higher than the 11.8 billion pounds used in the 2024/2025 marketing year.The USDA estimated US soybean oil 2025/2026 ending stocks at 1.86 billion pounds, up from 1.84 billion pounds in April.For its first projections for 2026-2027, the USDA pegged soybean oil use for biodiesel at 17.8 billion pounds, effective Oct. 1.The USDA estimated US soybean oil 2026/2027 ending stocks at 1.90 billion pounds.

Wire54d ago

ZoomInfo Technologies Faces Top-Line Growth Execution Risk, RBC Says

ZoomInfo Technologies (GTM) reduced its workforce and shifted to consumption-based pricing, but execution risk around a material re-acceleration in top-line growth persists, while the lower full-year 2026 guidance is discouraging, RBC Capital Markets said in a note emailed Tuesday.The company announced nearly 20% workforce reduction, which is expected to generate $60 million in annualized operating expense savings, at a one-time cost of $45 million to $60 million to be incurred in Q2 and Q3. Management believes this restructuring will help margins reach nearly 40% over time, according to the note.The brokerage said management noted a regression in growth near the end of Q1, driven by a pause in purchasing due to "AI and agentic confusion" as customers faced build versus buy decisions.The Q2 guidance for revenue and non-GAAP operating income was below consensus, while non-GAAP earnings per share were in-line. ZoomInfo also lowered its full-year 2026 guidance, which is now below consensus across all metrics except EPS, according to the note.RBC kept an underperform rating on ZoomInfo Technologies and lowered the price target to $4 from $7.Shares of the company were down more than 33% in Tuesday trading.Price: $4.05, Change: $-2.00, Percent Change: -33.03%

$GTM

Mining & Metals54d ago

Tartisan Nickel Down 43% as It Raises $600,000 After Closing the Second Tranche of a Flow-Through Financing

Tartisan Nickel (TN.CN) shares were last seen down 43% after the company on Tuesday said it closed the second tranche of a flow-through share financing that raised $600,000.The company said it sold an undisclosed number of the tax-advantaged shares priced at $0.32 apiece in the tranche.Proceeds will be used to incur eligible Canadian Exploration Expenses which will be renounced to subscribers, and will be directed toward continued exploration and development activities at its Kenbridge Nickel-Copper-Cobalt project, Sioux Narrows, Northwestern Ontario.Shares of the company were last seen down $0.12 to $0.15 on the Canadian Securities Exchange.Price: $0.15, Change: $-0.12, Percent Change: -43.40%

$TN.CN

Wire54d ago

Applied Materials to Benefit From AI, Memory Demand in Fiscal Q2, RBC Says

Applied Materials (AMAT) is expected to report stronger Q2 results and a better outlook amid improving demand in DRAM, HBM, advanced logic and AI-related chips, RBC Capital Markets said in a note Monday.RBC said it expects Applied Materials to slightly beat fiscal Q2 estimates, with modeled revenue of $7.7 billion and non-GAAP earnings of $2.64 per share. For Q3, RBC analysts said they expect management's outlook to come in 5% to 10% above consensus estimates of $8.1 billion in revenue and $2.89 per share in earnings.Applied Materials' systems business could grow by 25% or more this year, above the company's earlier view for growth of more than 20%, helped by DRAM, HBM and advanced foundry spending as DRAM demand remains strong and supply tight, RBC said.Internet of things, communications, automotive, power, and sensors could begin to recover as analog chip demand improves, while services are expected to grow in the low single digits from the prior quarter, according to the note.RBC kept its outperform rating and raised its price target to $500 from $430.Price: $418.23, Change: $-25.39, Percent Change: -5.72%

$AMAT

Insider Trading54d ago

Vicor Insider Sold Shares Worth $1,502,677, According to a Recent SEC Filing

Quentin A. Fendelet, Corporate Vice President, Chief Accounting Officer, on May 11, 2026, sold 5,059 shares in Vicor (VICR) for $1,502,677.SEC Filing:https://www.sec.gov/Archives/edgar/data/751978/000191219626000005/xslF345X05/primary_doc.xmlPrice: $275.66, Change: $-37.31, Percent Change: -11.92%

$VICR

Wire54d ago

Advance Auto Parts Likely to Face Margin Pressure From Inflation, High Gas Prices, RBC Says

Advance Auto Parts (AAP) could post modest Q1 comparable sales growth supported by favorable weather and industry demand trends, though "tougher" inflation comparisons and higher gas prices may pressure margins and earnings, RBC Capital Markets said in a note Tuesday.The firm forecasts Q1 comparable sales growth of 2%, slightly above the 1.9% consensus estimate, while adjusted operating margin is projected to rise 250 basis points year over year to 2.2%, below the 2.6% consensus. Adjusted earnings per share are expected at $0.31, compared with consensus expectations of $0.43, analysts said.RBC expects Q2 comparable sales growth of 2%, operating margin of 4.7% and adjusted earnings per share of $0.85, while anticipating management to reaffirm 2026 guidance.Many of the company's sales and margin initiatives are beginning to show "promise," but the firm said it remains "cautiously optimistic" about management's efforts to recapture market share and reduce costs.RBC lowered its price target to $62 from $63, supporting its sector perform rating on the stock.Price: $51.64, Change: $-0.19, Percent Change: -0.37%

$AAP

Mining & Metals54d ago

TSX Down 170 Points at Midday With Info Tech, Miners, The Worst Performers

The Toronto Stock Exchange is down 160 points at midday with most sectors lower.The worst performers are info tech (-2.5%) and miners (-1.2%).Energy, up 1.7%, is the best performer. Oil prices rose for a third session early on Tuesday as a faltering ceasefire between the United States and Iran keeps the Strait of Hormuz closed, continuing the largest-ever energy supply shock.Gold moved lower early Tuesday, dropping for a second day as the dollar and yields rose after the U.S. reported inflation continued to surge last month on higher energy prices that followed the war on Iran.In stocks, Pet Valu (PET.TO) has fallen 14% to $17.05 after it reported a first-quarter earnings miss.

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

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