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Arafura Rare Earths to Issue AU$200 Million of Convertible Notes to Support Northern Territory Project

Arafura Rare Earths (ASX:ARU) is set to issue AU$200 million of unsecured convertible notes to the National Reconstruction Fund to support the development of its Nolans project in the Northern Territory, according to a Tuesday filing with the Australian bourse.The notes will have a tenor linked to the maturity of Nolans' senior finance facilities and are convertible at AU$0.476 apiece after two years of issue, per the filing.The issuance is subject to several conditions, including the approval of a final investment decision for Nolans, which must be satisfied by May 11, 2027.Arafura and the National Reconstruction Fund have signed definitive documentation for the issuance, superseding a binding term sheet signed in January 2025.

ASX:ARU

Asia53d ago

QBE Insurance Group Proposes Australian Dollar-Denominated Capital Notes Issuance

QBE Insurance Group (ASX:QBE) plans to issue wholesale Australian dollar-denominated floating rate capital notes, subject to market conditions, according to a Tuesday filing with the Australian bourse.The company expects the proceeds of the proposed issuance to fund additional Tier 1 capital.

ASX:QBE

International53d ago

New Zealand Light, Heavy Traffic Decline in April, Says ANZ Research

Light traffic in New Zealand fell about 1.7% in April, signaling softer demand as higher fuel prices made people more wary of driving, ANZ Research said Tuesday.The light traffic index, which tracks the movement of motorbikes, cars, and vans and is an indicator of consumer demand in the country, was still up 2.4% year on year despite declines in recent months.The Heavy Traffic Index, which mainly tracks trucks and buses and is a marker of production activity, also fell by 1.2% during the month.

^NZ50

Research53d ago

Research Alert: Ovv: A Q1 Eps Beat And Strategic Repositioning Complete

CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:OVV posted Q1 adjusted EPS of $2.00 vs. $1.42, beating consensus by $0.17, driven by strong volume growth. Total production rose 15% Y/Y to 678,900 boe/d, with oil/condensate up 9.5% and natural gas up 20%, all at the high end of guidance. OVV's strategic repositioning is complete, having closed the NuVista acquisition for ~$2.8B and Anadarko divestiture for ~$2.85B, streamlining operations into two core assets: the liquids-focused Permian Basin and natural gas-focused Montney play in Western Canada. The company guides 2026 production at 620-645k boe/d, excluding divested Anadarko volumes. The Permian delivered 221k boe/d with plans for $1.35B capex and 125-135 net wells in 2026, while Montney produced 365k boe/d enhanced by NuVista's 100k boe/d addition. The Anadarko sale significantly strengthened the balance sheet, with net debt declining 40% to below $3.3B and Net Debt to Adjusted EBITDA improving to below 0.8x. OVV returned $84M via buybacks in Q1 and $180M YTD.

$OVV

Asia53d ago

GQG Partners' Funds Under Management Rise in April; Declares Quarterly Dividend

GQG Partners (ASX:GQG) said its funds under management (FUM) stood at $166.9 billion as of April 30, according to a Tuesday filing with the Australian bourse.The company had reported FUM of $163.6 billion at the close of April 2025, according to an earlier filing.In April, international equity FUM increased to $74.2 billion from $65.4 billion a year earlier, while global equity FUM fell to $37.8 billion from $39.9 billion.Emerging-market equity FUM rose to $40.6 billion from $39.2 billion year over year, and US equity FUM declined to $14.3 billion from $19.1 billion.The company declared a quarterly dividend of $0.0354 per share for the quarter ended March 31, payable June 26 to shareholders on record as of May 20.The company paid a dividend of $0.0378 per share for the prior corresponding period, an earlier filing showed.

ASX:GQG

International53d ago

Property Values in New Zealand Hold Steady in April, Says QV

Home property values in New Zealand held steady in April, showing no sense of urgency in the market, albeit with buyers having become increasingly cautious amid rising economic and political uncertainty, QV said Tuesday.According to the latest QV House Price Index, the average national property value grew by 0.2% to NZ$912,406 over the quarter, up 0.3% since the beginning of the year but down about 0.2% year-on-year.Regionally, average home values slipped 0.3% in Auckland and 0.1% in Wellington, in contrast to a 0.9% uptick in Christchurch.QV spokesperson Simon Petersen said it is highly likely that most buyers will take their "sweet time" to shop and wait for the right opportunity given continued paucity of listings available."We're heading into late autumn now, when activity does typically start to slow down a bit, and that's likely to keep levels of home value growth relatively subdued at best," Petersen added.The firm expects the stable and balanced market conditions seen so far in the year to continue in the short term.

^NZ50

Asia53d ago

Comvita Secures Nearly NZ$41 Million Through Rights Offer, Strategic Placement

Comvita (NZE:CVT) successfully completed a NZ$40.5 million capital raise, including NZ$30 million from a pro-rata renounceable rights offer and a further NZ$10.5 million through a strategic placement, according to a Tuesday filing with the New Zealand bourse.The rights offer received strong backing from shareholders, with eligible investors subscribing for 31.8 million shares and the company accepting a further 1.5 million shares via the oversubscription facility, bringing the participation to 72%, per the filing.F&N Ventures, a subsidiary of Fraser and Neave, will become a strategic investor in the company with a 19.99% stake as part of the transaction, the filing said.The company expects settlement and allotment of the new and placement shares on May 18, the filing added.

NZE:CVT

Research53d ago

Research Alert: Plug: Q1 Beat, Though Cash Burn Remains A Concern

CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:PLUG delivered a strong Q1 top-line beat, with revenue of $163M (+22% Y/Y), meaningfully above consensus of $140M due to strength across equipment sales, services, and hydrogen fuel sales. GAAP gross margin improved to -13% from -55% prior year, while adjusted loss per share improved to $0.08 from $0.17, beating consensus of $0.10. We believe the broad-based revenue strength validates management's execution across the platform, with continued material handling demand and electrolyzer project progress. Management maintained its target of achieving EBITDAS positive performance by Q4 2026. Liquidity remains supported with total cash of $802M and expected proceeds of $275M from asset monetization initiatives. We expect sequential improvement in cash usage as operational efficiencies materialize, though cash burn remains elevated and we anticipate another year of significant usage before profitability.

$PLUG

Research53d ago

Research Alert: Aecom Q2 Fy 26: Strong Margins And Backlog Growth Drive Guidance Raise

CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:AECOM delivered strong Q2 FY 26 results with adjusted EPS of $1.59 (+27% Y/Y, +3.2% vs. consensus), while segment adjusted operating margin reached 16.5% (+50 bps), ahead of long-term targets. Net service revenue grew 4% to $1.948B, with Americas design business up 8% in constant currency reflecting market share gains, though International NSR declined 3% due to Middle East conflicts. The company's diversified market exposure and strong execution drove backlog to $26.2B (+8% Y/Y) with a 1.2x book-to-burn ratio for the 22nd consecutive quarter above 1.0x. Management raised adjusted EPS guidance to $5.90-$6.10 (from $5.85-$6.05) and adjusted EBITDA guidance to $1,275M-$1,305M, while reaffirming long-term targets including 20%+ margin exit rate by FY 28. We believe AECOM's margin expansion ahead of schedule and consistent backlog growth demonstrate strong operational execution and provide visibility for sustained profitability improvements.

$ACM

Research53d ago

Research Alert: CFRA Maintains Hold Rating On Shares Of Appian Corporation.

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 to $23 from $27 on an EV/S multiple of 1.9x our 2027 sales projection of $920M, below its three-year average. We increase our 2026 EPS estimate to $0.99 from $0.93 and our 2027 EPS forecast to $1.25 from $1.17. APPN delivered strong Q1 2026 results, with cloud subscription revenue of $124.5M up 25% Y/Y (20% constant currency), while total revenue of $202.2M rose 21% Y/Y (17% constant currency). Cloud net annual recurring revenue (ARR) expansion improved to 115% from 112% due to AI tier upgrades with nearly 40% of customers now purchasing AI-inclusive advanced tier licenses. Adjusted EBITDA of $26.6M exceeded the $19M-$22M guidance range, with full-year guidance raised to $97M-$105M (approximately 12% margin at midpoint). We believe the combination of AI-driven efficiency focus and APPN's improved sales productivity position the company favorably for continued growth, though we remain cautious on guidance implying 2H deceleration.

$APPN

Asia53d ago

Property For Industry Declares Quarterly Dividend; Raises Fiscal 2026 Outlook

Property For Industry (NZE:PFI) declared a dividend of NZ$0.022 per share for the quarter ended March 31, according to a Tuesday filing with the New Zealand bourse.The dividend will be paid on May 28, to shareholders on record as of May 19.The company paid the dividend of NZ$0.021 per share for the prior corresponding period, an earlier filing showed.The company has updated its fiscal 2026 guidance and now expects to pay cash dividends of around NZ$0.095 per share, up from its previous guidance of at least NZ$0.0905, based on current forecasts and subject to factors beyond its control.

NZE:PFI

Oil & Energy53d ago

US Treasury Sanctions 12 Over IRGC-Linked Iranian Oil Sales, Shipments to China

Oil & Energy53d ago

US Oil Update: Crude Settles Higher as Trump Warns Iran Ceasefire 'On Life Support'

Crude oil futures settled higher in after-hours trading on Monday after President Trump dismissed Iran's latest peace proposal and declared a fragile month-long ceasefire to be on "life support," stoking fears of a prolonged blockade in the Strait of Hormuz.Front-month West Texas Intermediate crude futures rose by 2.75% to $98.25 per barrel, while Brent futures were up 3.37% to $104.70/bbl.Trump is reportedly meeting with his national security team to discuss next steps in the Middle East conflict, including possibly resuming military action after he rejected Iran's response to a US peace proposal."I would call it the weakest, right now, after reading that piece of garbage they sent us, I didn't even finish reading it," Trump told reporters at the White House. "I would say the ceasefire is on massive life support."US President rejected Iran's demands for a total end to Washington's naval blockade and war reparations, calling the response "stupid" and "unacceptable."The continued closure of the Hormuz since late February has severely disrupted global flows of crude, fuels, and gas, with the International Energy Agency calling it the biggest supply shock in history.Meanwhile, Israeli Prime Minister Benjamin Netanyahu said on Monday that the conflict was "not over," raising fears that tensions in the Middle East could escalate again and further threaten energy supplies."After briefly trading down to USD 96 last week on renewed hopes the strait would reopen, Brent has rebounded above USD 105," Saxo Bank strategists said, citing Morgan Stanley analysts who described the Middle East conflict as a "race against time."Iran has called for an end to the war on all fronts, including Lebanon, where Israel is fighting Iran-backed Hezbollah militants. Tehran also demanded compensation for war damage and resumption of Iranian oil sales.ING strategists said the oil market remains heavily headline-driven, with prices surging after Trump rejected Iran's latest peace plan.Iranian foreign ministry spokesman Esmail Baghaei said Tehran's proposal for ending the recent war was reasonable, as the US continues to insist on "unreasonable demands" shaped by the Israeli regime.On Monday, the country's Speaker of Parliament, Mohammad Bagher Ghalibaf, said Iran's armed forces are battle-ready to deliver a crushing, well-deserved response to any aggression.Tehran reportedly deployed small submarines to act as an "invisible guardian" of the Hormuz amid a series of rejected peace deals with the US.Kpler said that 53 vessels operated by the world's top 10 container shipping lines entered the Persian Gulf before the outbreak of conflict, of which 79% are unable to exit.

Research53d ago

Research Alert: CFRA Keeps Hold Opinion On Shares Of Canadian National Railway

CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:We raise our 12-month target price by CAD12 to CAD160, valuing CNR shares at 20x our 2026 EPS estimate of CAD7.85 (up from CAD7.64) and at 18.5x our 2027 EPS estimate of CAD8.65 (up from CAD8.45)vs. the shares' one-year average forward multiple of 18x and a peer average of 22.6x. We see revenue growth of 3% in 2026, with a rise of 4% in 2027. Q1 2026 results were mixed. Total revenues were -1% to CAD4,379M as a record Q1 RTM level of 61,834M (+3% volume) was more than offset by freight revenue per RTM (-3%). The yield pressure was primarily due to the negative translation impact of a stronger Canadian dollar and the elimination of the Canadian federal carbon tax program on April 1, 2025, which collectively overshadowed benefits from freight rate increases and higher fuel surcharge rates. On a constant currency basis, revenues would have grown 2%, demonstrating underlying business momentum. We expect some of these pressures to ease as the year progresses. We currently view the shares as fairly valued.

$CNR

Mining & Metals53d ago

Earnings Flash (ODV) Osisko Development Corp. Reports Q1 Operating Loss of C$9.7M Vs $40.8M Loss in Q1 2025

$ODV

Asia53d ago

Life360 Posts Lower Q1 Earnings, Higher Revenue; Raises 2026 Outlook

Life360 (ASX:360) reported Tuesday first-quarter earnings of $0.03 per share, down from $0.05 a year earlier.Analysts polled by FactSet expected the company to break even.Revenue for the three months ended March 31 was $143.1 million, compared with $103.6 million a year earlier. Analysts surveyed by FactSet expected $137 million.The company raised its 2026 guidance, now expecting consolidated revenue of $650 million to $685 million, up from the previous range of $640 million to $680 million, and adjusted earnings before interest, taxes, depreciation, and amortization of $130 million to $140 million, compared with prior guidance of $128 million to $138 million. Analysts surveyed by FactSet expect sales of $663.5 million.

ASX:360

Insider Trading53d ago

Cummins Insider Sold Shares Worth $456,524, According to a Recent SEC Filing

Bonnie J Fetch, Executive Vice President & President, Operations, on May 11, 2026, sold 652 shares in Cummins (CMI) for $456,524. Following the Form 4 filing with the SEC, Fetch has control over a total of 12,322 common shares of the company, with 11,679 shares held directly and 643 controlled indirectly.SEC Filing:https://www.sec.gov/Archives/edgar/data/26172/000122520826005123/xslF345X05/doc4.xml

$CMI

Commodities53d ago

US DOE Awards Contracts for 53.3 Million Barrels of SPR Emergency Crude Exchange

The US Department of Energy awarded contracts for an emergency exchange of about 53.3 million barrels of crude oil from the strategic petroleum reserve, it said in a Monday statement.The move is part of the US' broader 172-mmbbl contribution to the International Energy Agency's coordinated oil supply action.The exchange awards will not only move crude supplies quickly into the market, but also secure a 28% premium in the form of additional barrels upon return.Previous emergency exchange actions awarded about 80 mmbbls of crude oil.DOE also said that it has carried out "a historic, record-speed series of SPR exchange solicitations," which it described as the largest in the SPR's 50-year history.The latest crude exchange will draw oil from the SPR's Bayou Choctaw, Bryan Mound, Big Hill and West Hackberry storage sites.Under the exchange program, participating companies will return the borrowed crude oil with premium barrels totaling 15.1 mmbbls, helping expand SPR inventories while supplying refiners and global oil markets, DOE said.Companies may begin scheduling deliveries immediately as DOE continues evaluating additional actions to meet the full US commitment under the coordinated international release, according to the department.

Research53d ago

Research Alert: CFRA Raises Opinion On Shares Of Tapestry, Inc. To Buy From Hold

CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:We raise our 12-month target by $24 to $170, based on 21.9x our FY 27 (Jun.) EPS estimate and higher than the company's three-year average forward P/E multiple of 13.7x. In recent quarters, shares have traded above 20x consensus EPS estimates for the next 12 months, as the company has outperformed peers and expanded margins. We think the recent sell-off has provided an opportunity to buy shares at a discount. TPR delivered exceptional Q3 FY 26 results, with broad-based outperformance across revenue, margins, and profitability metrics. The company reported revenue of $1.92B (+21% Y/Y), $136M above estimates, with pro forma growth of 25% excluding the divested Stuart Weitzman business. Non-GAAP EPS reached $1.66 (+62% Y/Y), $0.36 above estimates, due to strong operational execution and margin expansion. The Coach brand grew revenues 31% Y/Y to $1.70B, while Kate Spade revenue declined 10% to $220M, though it makes up a much smaller portion of total revenue. We raise our Hold view to Buy based on valuation.

$TPR

Insider Trading53d ago

Aaon Insider Sold Shares Worth $1,321,098, According to a Recent SEC Filing

Rebecca Thompson, Chief Accounting Officer, on May 07, 2026, sold 9,672 shares in Aaon (AAON) for $1,321,098. Following the Form 4 filing with the SEC, Thompson has control over a total of 31,911 common shares of the company, with 27,681 shares held directly and 4,230 controlled indirectly.SEC Filing:https://www.sec.gov/Archives/edgar/data/824142/000156576826000023/xslF345X05/wk-form4_1778535155.xml

$AAON

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Oil & Energy53d ago