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Westlake Likely to Benefit From Higher Prices, Lower Costs, RBC Says

Westlake (WLK) is expected to benefit from cost reductions and pricing actions, RBC Capital Markets said in a note Friday.The report pointed to "solid" order books into Q2, with price increases offsetting higher cost, albeit with some lags."Additionally, WLK's cost reductions and pricing actions should create further uplift into Q3," the report said.The note also said the company remains confident in its ability to raise EBITDA by about $600 million from a year ago, which could rise further on an extended Hormuz closure.RBC kept its outperform rating while lowering its price target to $130 from $145.Price: $98.28, Change: $+4.43, Percent Change: +4.71%

$WLK

Oil & Energy53d ago

EMEA Oil Update: Crude Jumps as Trump Says US-Iran Truce 'On Life Support'

EMEA crude futures advanced in after-hours trading on Monday after President Trump described the fragile US-Iran ceasefire as being "on life support," following his rejection of Iran's latest diplomatic proposal.Brent crude futures gained 3.97% to $105.28 per barrel, while Murban oil futures were up 3.27% to $102.50/bbl.ING strategists said the oil market remains heavily headline-driven, with prices surging after Trump rejected Iran's latest peace plan.On Monday, Trump said that a ceasefire with Iran was "on life support" after he rejected Tehran's response to a US peace proposal, prolonging the two sides' impasse and the effective closure of the Strait of Hormuz."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."Both the US and Iran rejected each other's latest peace proposals to end the 10-week conflict as the two sides struggle to maintain a fragile ceasefire.On Sunday, Iran released a response focused on ending the war on all fronts, including where Israel is fighting Iran-backed Hezbollah militants.Iranian authorities also demanded compensation for war damage, emphasized the country's sovereignty over the Hormuz, while calling on the US to end its blockade, lift sanctions and remove a ban on its crude sales.Trump dismissed Iran's offer and demands in a social media post as "totally unacceptable.""The two sides continue to maintain a fragile ceasefire while the effective closure of the Strait of Hormuz drags on," Saxo Bank strategists said in a note Monday.Fueling bullish sentiment, 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.Meanwhile, the effective closure of the Hormuz during the 10-week conflict has choked off exports of crude, gas and fuels, driving up energy prices and heightening fears of global supply disruptions.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 those, 79% remain unable to exit, the analytics firm said.Going forward, market participants will be closely following Trump's meeting with Chinese President Xi Jinping, during which Iran is set to be among the topics.

Sectors53d ago

Sector Update: Energy Stocks Rise Monday Afternoon

Energy stocks were higher Monday afternoon, with the NYSE Energy Sector Index rising 2.3% and the State Street Energy Select Sector SPDR ETF (XLE) climbing 2.6%.The Philadelphia Oil Service Sector Index was adding 1.9%, and the Dow Jones US Utilities Index rose 1.1%.Crude oil prices rose Monday after US President Donald Trump rejected Iran's counteroffer to end the war, extending uncertainty around oil flows through the Strait of Hormuz. Trump on Sunday described Iran's response to Washington's peace proposal as "totally unacceptable." The apparent US-Iran stalemate prolongs the effective closure of the Strait of Hormuz, the world's most important chokepoint for crude flows.Front-month West Texas Intermediate crude oil rose 2.9% to $98.16 a barrel, and the global benchmark Brent crude contract was advancing 2.9% to $104.18 a barrel. Henry Hub natural gas futures gained 5.5% to $2.91 per 1 million BTU.In corporate news, BP (BP) has a "second chance" to deleverage and restore financial health, supported by higher commodity prices that could put it on firmer footing in coming years, RBC Capital Markets said in a note. RBC upgraded BP to outperform from sector perform, while maintaining its 700 pence ($9.52) price target. BP shares rose 2%.Halliburton (HAL) and Blackstone (BX) will invest a combined $1 billion into energy startup VoltaGrid in a deal that values the firm at over $10 billion, Bloomberg reported. Halliburton shares added 1.4%.National Energy Services Reunited (NESR) shares surged 11% after it reported higher Q1 adjusted earnings and revenue.Kodiak Gas Services (KGS) shares jumped past 6% after it posted higher Q1 adjusted earnings and revenue.

$BP$HAL$KGS$NESR

Wire53d ago

Nutrien Supported by Strong Execution, Fertilizer Fundamentals, RBC Says

Nutrien (NTR) is expected to benefit from solid agriculture demand, higher nitrogen prices, strong cash flow, possible asset sales, and continued share buybacks, RBC Capital Markets said.The investment firm said in a Friday note that Nutrien is executing well and should generate strong free cash flow in 2026 and 2027, helped in the near-term by higher nitrogen prices. The company's retail business remains on track for growth in 2026 as planted acreage stays high and demand improves for products that help crop yields.RBC expects nitrogen prices to stay high even after the Strait of Hormuz reopens, as fertilizer markets may take time to return to normal, according to the note.Potash demand remains steady, though there is some risk later in 2026 if farmers shift spending because nitrogen and phosphate prices remain high.RBC maintained its outperform rating and $85 price target.Shares of Nutrien were up 4.3% in Monday trading.Price: $71.26, Change: $+2.93, Percent Change: +4.29%

$NTR

US Markets53d ago

Equities Rise Intraday, Oil Jumps as Markets Montior Middle East Developments

US benchmark equity indexes were higher intraday as traders appeared to shake off worries about the Middle East conflict and higher oil prices.The S&P 500 was up 0.3% at 7,421.2 after midday Monday, while the Dow Jones Industrial Average and the Nasdaq Composite rose 0.2% each to 49,691.7 and 26,308.6, respectively. Among sectors, energy paced the gainers, while communication services saw biggest drop.West Texas Intermediate crude jumped 3.7% to $98.98 a barrel, while Brent advanced 3.5% to $104.87, as US President Donald Trump rejected Iran's counteroffer to end the war, extending uncertainty around oil flows through the Strait of Hormuz.The US-Iran ceasefire is on "massive life support" and "unbelievably weak," news outlets reported Monday, citing Trump. On Sunday, Trump described Iran's response to Washington's peace proposal as "totally unacceptable."Iran's proposal, delivered via mediator Pakistan, sought an immediate end to hostilities, the lifting of the US naval blockade of its ports and assurances against further aggression, BBC News reported, citing Iran's semi-official Tasnim news agency."While optimism for an imminent deal is fading, there remains a glimmer of hope that talks between Trump and Chinese President Xi (Jinping) later this week could yield positive results on Iran," ING Bank said in a note Monday.Trump is scheduled to arrive in China Wednesday for a high-stakes state visit, with talks set to take place Thursday and Friday.US Treasury yields were higher intraday Monday, with the 10-year rate up 4.7 basis points at 4.41% and the two-year rate rising 4.2 basis points to 3.94%.In company news, some big technology names were advancing, with Nvidia (NVDA) up 2.6%, the second-biggest gainer on the Dow. Micron (MU) and Qualcomm (QCOM) also saw sizable gains.Some 89% of S&P 500 companies have reported quarterly results in the latest cycle, with earnings up about 25% from a year earlier and revenue rising 10%, Oppenheimer Asset Management said in a note. Ahead of the earnings season, FactSet put expected earnings growth at 12.6% year over year.Cisco Systems (CSCO) and Applied Materials (AMAT) are among the major names scheduled to report this week.Lumentum (LITE) shares surged 17% intraday Monday, the top gainer on the S&P 500, after the company said it is set to join the Nasdaq-100 index, effective May 18.Trade Desk (TTD) shares were down 7.1%, the worst performer on the S&P 500, after HSBC downgraded the stock to reduce from hold while adjusting its price target to $20 from $31.In economic news, US existing home sales increased less than projected in April, data from the National Association of Realtors showed."Despite mixed macroeconomic signals -- including a record-high stock market and historically low consumer confidence -- home sales were modestly boosted by the continued improvement in housing affordability," NAR Chief Economist Lawrence Yun said.Gold was down 0.2% at $4,722.50 per troy ounce, while silver jumped 6.2% to $85.90 per ounce.

Dow JonesNasdaq CompositeS&P 500$AMAT$CSCO$LITE$MU$NVDA$QCOM$TTD

Commodities53d ago

US Natural Gas Update: Prices Jump as Cooling Demand Begins to Dominate

US natural gas futures climbed in midday trading on Monday, driven by expectations of stronger cooling demand as warmer weather is forecast across parts of the country.The front-month Henry Hub natural gas and the continuous futures contract both climbed 5.55% to $2.91 per million British thermal units.NatGasWeather.com projected temperatures in the 90s Fahrenheit and even triple-digit readings across parts of the Southern US.Trading Economics said temperatures elsewhere are still expected to track normal seasonal patterns through May 23, with cooling demand gradually overtaking late-season heating demand.EBW Analytics added that forecasts have increased the outlook by 12 cooling degree days for May, supporting near-term sentiment, though it cautioned it is still too early for a sustained pre-summer rally.On the supply side, Trading Economics said a recent decline in US output supported prices, noting that production in the Lower 48 has been trending lower as producers such as EQT (EQT) curtailed output amid weak spot prices. However, output may be recovering as NRG Energy said production rose over the weekend to 107.5 billion cubic feet per day, up from about 106 Bcf/d in recent weeks.EBW Analytics also said output has rebounded in the Marcellus and Permian, reinforcing expectations for stronger storage builds into early summer, while warning that heavy speculative short positioning leaves the market vulnerable to weather-driven upside.Demand eased over the weekend, with NRG Energy reporting residential and commercial heating demand fell from 18 Bcf/d to 13 Bcf/d, while other segments held steady.EBW Analytics expects heating demand to drop sharply over the next two weeks, increasing the risk of triple-digit weekly storage injections into late May and June.Trading Economics said the storage surplus has likely narrowed to about 6% above seasonal norms for the week ended May 7, down from 7% the prior week, reflecting lower production and near-normal weather.EBW Analytics warned that weaker late-May demand could drive unusually large injections, potentially pushing inventories more than 200 Bcf above five-year averages.EBW Analytics said LNG feedgas has fallen about 2.5 Bcf/d from April highs due to maintenance at key facilities, including Cameron LNG, Corpus Christi, and softer flows at Sabine Pass.Price: $56.68, Change: $+0.72, Percent Change: +1.29%

$EQT

Wire53d ago

Telus Advances Proposed Sovereign AI Factory Cluster Project With Canadian Government

Telus (TU), Westbank, and the Canadian government are making progress on a proposed sovereign artificial intelligence factory cluster in British Columbia, the communications technology company said Monday.The planned cluster aims to scale to more than 60,000 graphics processing units and 150 megawatts by 2032, powered 98% by clean energy, Telus said.The sovereign AI factory cluster will serve Canadian businesses, public institutions, and government organizations with high-performance AI computing capacity without sending their data and intellectual property outside of the country, according to a statement.Price: $12.70, Change: $-0.05, Percent Change: -0.43%

$TU

Wire53d ago

Meta Platforms Sued by California County Over Scam Ad Profits Allegations, Bloomberg Reports

$META

Sectors53d ago

Update: Gold Steady as the U.S. Dismisses Iran's Peace Demands

(Updates prices.)Gold was steady midafternoon Monday after the United States rejected Iran's response to its peace plan offered last week, calling the country's response unacceptable.Gold for June delivery was last seen up US$0.60 to US$4,731.30 per ounce.Iran replied to a U.S. peace offer made last week with a plan of its own, delivering a response on Sunday that included demands for compensation for war damages, acknowledgement of its control of the Strait of Hormuz, an end to Israel's war on Lebanon and the removal of sanctions on its oil exports and nuclear enrichment program.Iran's demands were dismissed by U.S. President Trump. who called them "totally unacceptable" in a social media post.The war, now in its tenth week, has boosted inflation as energy costs rise, with the blockade of the Strait of Hormuz keeping exports of 20% of daily oil demand supplied by Persian Gulf nations from the market. The threat of rising costs forcing central banks to raise interest rates has sent traders to the U.S. dollar and bonds, keeping gold rangebound.The dollar also steadied, with the ICE dollar index last seen up 0.1 point to 97.91. Treasury yields rose, with the U.S. two-year note last seen paying 3.943%, up 4.8 basis points, while the yield on the 10-year note was up 5.1 points to 4.409%.

$GCM6$GLD

Wire53d ago

Telus' Performance Tracking Low-to-Mid End of 2026 Revenue, EBITDA Guidance Ranges, RBC Says

Telus' (TU) performance is tracking to the low-to-mid end of its reaffirmed revenue and earnings before interest, taxes, depreciation and amortization growth guidance for 2026, RBC Capital Markets said in a note Sunday.In the absence of recurring Q1-like promotional intensity, management sees ongoing sequential improvement in year-on-year wireless network revenue growth as the year progresses, reiterating the expectation of steady TTech multiyear margin expansion, the brokerage said.The company further sees Telus Health crystallization process as "well underway" with interest from multiple parties, with a transaction update likely coming this summer or in concurrence with its Q2 results, according to the note.Telus maintains a premium valuation relative to large cap peers, with the company sustaining 3% or higher adjusted EBITDA growth and continuing to make progress towards management's 10% consolidated capex intensity objective, among others, the brokerage said.RBC maintained its outperform rating on the stock, with a 22 Canadian dollars ($16.10) price target.Price: $12.69, Change: $-0.06, Percent Change: -0.51%

$TU

Wire53d ago

Update: Trump to Sign Executive Orders to Address Beef Supply Issues

(Updates with statement from the White House throughout.)President Donald Trump will sign two executive orders on Monday to boost beef imports, a White House official told.The move will "address short-term supply issues in the US beef market by expanding imports and supporting the renewal of America's domestic cattle herd, which is currently at a multi-decade low," the official said in the emailed response.The confirmation follows a report by The Wall Street Journal earlier Monday that the Trump administration is planning to temporarily cut tariffs on beef imports to help lower record-high beef prices in the US.Price: $20.12, Change: $-0.32, Percent Change: -1.57%

$HRL$PPC$TSN

Mining & Metals53d ago

Telus Advancing New AI Data-Centre Cluster in British Columbia

Telus (T.TO) is advancing a proposed artificial-intelligence data-center cluster in British Columbia, the company said on Monday.Telus is expanding its existing Kamloops data center and developing two new Vancouver facilities with Westbank and its partners. The Kamloops AI Factory will come online later this year; the M3 facility in Vancouver's Mount Pleasant neighborhood will open at the end of 2026 and scale through 2028; and the 150 West Georgia facility will come online in 2029, with the cluster's total capacity scaling to over 150 MW by 2032, a statement said.Once fully scaled, this cluster is expected to deliver $9 billion in economic value to British Columbia, create more than 1,000 construction jobs and hundreds of high-skilled operations roles, Telus added.The company's first Sovereign AI Factory in Rimouski, Quebec, opened last September, and is sold out.Telus shares were last seen down $0.08 to $17.38 on the Toronto Stock Exchange.Price: $17.36, Change: $-0.10, Percent Change: -0.57%

$T.TO

Sectors53d ago

Sector Update: Healthcare Stocks Mixed in Afternoon Trading

Healthcare stocks were mixed Monday afternoon with the NYSE Healthcare Index rising 0.2% and the State Street Healthcare Select Sector SPDR ETF (XLV) little changed, paring earlier losses.The iShares Biotechnology ETF (IBB) increased 0.3%.In corporate news, Moderna (MRNA) has been working on early-stage vaccines targeting hantaviruses, Bloomberg reported Friday, citing a company statement. The research began before recent infections were reported aboard the Dutch-flagged Hondius, the report said. Moderna shares fell 2.2%.Sonida Senior Living (SNDA) shares fell 3.6% after the company reported Q1 loss of $2.39 per diluted share, widening from the loss of $0.77 a year earlier. Three analysts polled by FactSet expected a loss of $1.53.Erasca (ERAS) entered a clinical trial collaboration and supply agreement with Merck (MRK) to study its investigational drug ERAS-0015 in combination with Keytruda in patients with RAS-mutant solid tumors. Erasca shares rose 3.3%, and Merck added 1.2%.

$ERAS$MRK$MRNA$SNDA

Wire53d ago

UBS Trims PG&E Price Target to $22 From $23, Buy Rating Kept

PG&E (PCG) has an average rating of overweight and mean price target of $23, 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: $16.26, Change: $+0.19, Percent Change: +1.18%

$PCG

Wire53d ago

LSB Industries Continues to Benefit From Higher Nitrogen Prices, RBC Says

LSB Industries (LXU) is seen benefiting from high nitrogen prices due to the supply disruption caused by the Middle East conflict, boosting free cash flow generation before prices normalize, RBC Capital Markets said in a note emailed Monday.Nitrogen prices are expected to remain high even after the Strait of Hormuz reopens, as it will take time for fertilizer markets to normalize as tight natural gas prices persist in Europe and globally through 2027, RBC analysts said. They added that they expect nitrogen price to peak mid-year, but there is a upside risk if the US and Iran continue to fail to reach a settlement agreement.LSB executed strongly in Q1 with production volumes better than expected and non-gas controllable costs 10% below RBC estimates, the firm noted. This suggests potentially even lower costs once the company is on a more regular turnaround schedule, according to the note.RBC revised its estimates for LSB's earnings before interest, taxes, depreciation, and amortization to $238 million from $219 million in 2026, and to $188 million from $204 million in 2027.RBC reiterated the company's stock rating at sector perform and raised the price target to $15 from $14.Price: $14.80, Change: $+0.89, Percent Change: +6.40%

$LXU

Sectors53d ago

Sector Update: Consumer Stocks Decline Monday Afternoon

Consumer stocks fell Monday afternoon with the State Street Consumer Staples Select Sector SPDR ETF (XLP) declining 1.2% and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) dropping 0.7%.In corporate news, Texas Attorney General Ken Paxton said Monday he has sued Netflix (NFLX) for allegedly spying on Texans by collecting users' data without their consent or knowledge. Netflix shares fell 2.4%.Walt Disney's (DIS) ABC network has been the victim of "sustained, coordinated" censorship by the Trump administration, Federal Communications Commissioner Anna Gomez said in a letter to Disney CEO Josh D'Amaro, The Wall Street Journal reported. Disney shares were down 3%.Fox (FOX, FOXA) reported a surprise increase in quarterly earnings on Monday, while the media company's revenue topped estimates amid distribution growth. Its Class A shares rose 4%, and the Class B shares climbed 4.4%.

$DIS$FOX$FOXA$NFLX

Wire53d ago

Grab, Nuitee Collaborate Over Travel Accommodation Booking Service

Grab (GRAB) will collaborate with Nuitee to launch a travel accommodation booking service called GrabStays within the Grab app, the AI travel technology company said in a Monday statement.The app will be powered by Nuitee's travel infrastructure, according to a statement.GrabStays will launch first in Singapore later this month, followed by other markets in 2026, according to the company.Price: $3.68, Change: $-0.04, Percent Change: -1.08%

$GRAB

Wire53d ago

MDA Space Poised for Defense Contract Wins to Support Growth Into 2027, RBC Says

MDA Space (MDA) is expected to continue benefiting from investor confidence in its defense opportunities, with potential contract awards in H2 seen to support accelerating growth into 2027 and provide a catalyst for the stock, RBC Capital Markets said in a note Friday.Management expects the opportunities to develop as both a satellite payload provider and a merchant supplier across the Satellite Systems offering, the brokerage said, adding that MDA remains positioned to benefit from its role as a "Canadian national defense champion."The brokerage said the Satellite Systems segment, which delivered 41% growth in Q1, remains the key source of growth.RBC maintained its outperform rating on the stock and raised the price target to 58 Canadian dollars ($42) from C$50.Shares of the company were up 5.9% in Monday trading.Price: $36.65, Change: $+2.04, Percent Change: +5.88%

$MDA

Sectors53d ago

Sector Update: Tech Stocks Gain Monday Afternoon

Tech stocks were higher Monday afternoon, with the State Street Technology Select Sector SPDR ETF (XLK) rising 1.2% and the State Street SPDR S&P Semiconductor ETF (XSD) climbing 2.4%.The Philadelphia Semiconductor index added 2.2%.In sector news, Cerebras Systems increased the size and expected price range of its initial public offering, which now could raise as much as $5.52 billion for the AI chipmaker.In corporate news, Monday.com (MNDY) lifted its full-year revenue outlook after the project management software company posted a surprise Q1 earnings gain. Its shares rose 2.4%.SoFi Technologies (SOFI) is taking over British fintech PrimaryBid, Sky News reported, citing a letter PrimaryBid sent its shareholders that it viewed. SoFi shares added 2%.Microsoft-backed (MSFT) OpenAI allowed employees to sell as much as $30 million worth of shares each in a recent financing, The Wall Street Journal reported. More than 600 existing and former OpenAI employees sold their shares in a single stroke in October, collectively making $6.6 billion, the report said. Microsoft shares were down 1.2%.

$MNDY$MSFT$SOFI

Wire53d ago

Truist Securities Lifts NETSTREIT Price Target to $22 From $21, Maintains Buy Rating

NETSTREIT (NTST) has an average rating of overweight and mean price target of $21.97, 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: $20.73, Change: $+0.06, Percent Change: +0.29%

$NTST

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US Markets53d ago

Equities Rise Intraday, Oil Jumps as Markets Montior Middle East Developments

Dow JonesNasdaq CompositeS&P 500$AMAT$CSCO$LITE$MU$NVDA$QCOM$TTD