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Paramount Pictures, Warner Music Group to Partner on Theatrical Films

Exchange-Traded Funds Fall as US Equities Drop Midday on Labor Data, Iran Tumult

Broad Market IndicatorsBroad-market exchange-traded funds IWM and IVV fell. Actively traded Invesco QQQ Trust (QQQ) eased 0.1%.US equity indexes fell Thursday as investors weighed labor data and Iran's response to a Washington proposal to restart peace talks.EnergyIShares US Energy ETF (IYE) fell 2% and the State Street Energy Select Sector SPDR (XLE) dropped 1.9%.TechnologyThe State Street Technology Select Sector SPDR ETF (XLK) fell 0.1%; iShares US Technology ETF (IYW) climbed 0.1%, and iShares Expanded Tech Sector ETF (IGM) fell 0.3%.The State Street SPDR S&P Semiconductor (XSD) shed 1.6%, and iShares Semiconductor (SOXX) lost 2.5%.FinancialThe State Street Financial Select Sector SPDR (XLF) fell 0.4%. Direxion Daily Financial Bull 3X Shares (FAS) dropped 1.3%, and its bearish counterpart, Direxion Daily Financial Bear 3X Shares (FAZ), gained 1.1%.CommoditiesCrude oil rose 0.7%, and the United States Oil Fund (USO) gained 0.1%. Natural gas and the United States Natural Gas Fund (UNG) each increased 2.4%.Gold on Comex rose 0.6%, and the State Street SPDR Gold Shares (GLD) advanced 0.4%. Silver jumped 4%, and iShares Silver Trust (SLV) gained 3%.ConsumerThe State Street Consumer Staples Select Sector SPDR (XLP) decreased 0.5%. The Vanguard Consumer Staples ETF (VDC) shed 0.4%, and iShares Dow Jones US Consumer Goods (IYK) declined 0.6%.The State Street Consumer Discretionary Select Sector SPDR (XLY) was little changed. VanEck Retail ETF (RTH) fell 0.7%, and the State Street SPDR S&P Retail (XRT) declined 1.4%.Health CareThe State Street Health Care Select Sector SPDR (XLV) fell 0.8%, iShares US Healthcare (IYH) dropped 1%, and Vanguard Health Care ETF (VHT) declined 1.1%. IShares Biotechnology ETF (IBB) tumbled 2.8%.IndustrialThe State Street Industrial Select Sector SPDR (XLI) lost 1.1%. Vanguard Industrials Index Fund (VIS) dropped 1.2% and iShares US Industrials (IYJ) shed 0.7%.CryptocurrencyIn midday activity, bitcoin (BTC-USD) declined 2.2%. Among cryptocurrency ETFs, ProShares Bitcoin ETF (BITO) fell 2.1%, ProShares Ether ETF (EETH) dipped 2.6%, and ProShares Bitcoin & Ether Market Cap Weight ETF (BETH) was 2.4% lower.

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Wire55d ago

GlobalFoundries to Pay Quarterly Dividend of $0.12 per Share, Payable July 14 to Holders of Record June 24

$GFS

International55d ago

Small Businesses Report Shows Increased Worker Shortages in April, NFIB Says

Small businesses reported that the level of worker shortages continued in April, with a seasonally adjusted 34% of respondents in a National Federation of Independent Business survey released Thursday saying they were having trouble hiring the workers that they needed, up from 32% in the previous month.The NFIB's Small Business Employment Index fell to 100.4 in April from 101.6 in March, above the historical average of 100.0 but below the 2025 average of 101.2."Even in a month with a weaker Employment Index, over half of small business owners reported hiring or trying to hire," said NFIB Chief Economist Bill Dunkelberg. "A lack of qualified applicants has been a major hurdle for Main Street, and employers are struggling to fill open positions."The percentage of business owners reporting labor quality as their top business concern rose to 18% from 15%, while labor costs were listed as single most important concern by 9%, down from 10% in March.About 53% of owners said they were trying to hire in the month, up from 52% in March. Around 87% of the respondents who were hiring or trying to hire reported finding few or no qualified applicants for the position they were trying to fill.A seasonally adjusted net 30% of owners said they needed to raise compensation to hire workers in April, down from 33% in March. A net 18% of owners said they plan to raise compensation in the next three months unchanged from March.

Research55d ago

Research Alert: CFRA Maintains Buy Rating On Flex Ltd.

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 from $86 to $156, on a P/E of 25x our FY 28 estimate, above the three-year historical average of 14x to reflect the explosive CPI growth tied to AI infrastructure and margin execution a full year ahead of schedule. After posting a strong Q4 FY 26 and blowout FY 27 guidance, we lift our FY 27 EPS from $3.90 to $4.21 and initiate FY 28's at $6.24. FLEX guided for FY 27 revenue growth of 18% Y/Y, well ahead of the consensus view of 7%, due to CPI segment guidance of 65%-75% growth. We like the strategic separation creating two distinct investment profiles, with SpinCo as a pure-play AI infrastructure growth vehicle and RemainCo as a margin-focused advanced manufacturing business. CPI's grid-to-chip integrated solution addresses critical data center power bottlenecks, underpinned by multiyear hyperscaler contracts and a fully-booked backlog supporting $10B+. While FLEX faces elevated capex in FY 27, we see continued strong cash generation providing flexibility.

$FLEX

Research55d ago

Research Alert: CFRA Keeps Hold Opinion On Shares Of Pinnacle West Capital Corporation

CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:We lower our 12-month target by $2 to $103, 18.5x our 2027 EPS view, slightly above peers as we see highly supportive economic trends in PNW's service territory. We lift our 2026 EPS view by $0.04 to $4.73 and lower 2027 EPS by $0.25 to $5.58. For the full year, higher interest costs and share dilution are expected to be offset by continued strength in transmission investment returns, retail electricity sales growth, and disciplined expense management. Along with strong population and job growth, we think growing demand from data centers and semiconductor manufacturing present strong long-term growth opportunities for the company. From 2025 to 2028, we anticipate dividend growth will be 3.4% on a compounded annual basis, well below our expectations for peers. We expect a dividend payout ratio near 78.5% in 2026, well above peer levels. However, we anticipate that the payout ratio will moderate somewhat as EPS growth outpaces dividend growth over time.

$PNW

Sectors55d ago

Sector Update: Tech

Tech stocks were lower Thursday afternoon, with the State Street Technology Select Sector SPDR ETF (XLK) decreasing 0.1% and the State Street SPDR S&P Semiconductor ETF (XSD) falling 1.5%.The Philadelphia Semiconductor index dropped 2.6%.In corporate news, Snap's (SNAP) Q1 loss narrowed more than market expectations, although the social media company saw persistent headwinds in its North America advertising business and recorded up to $25 million impact from the Middle East conflict. Its shares were down 2%.

$SNAP

Commodities55d ago

RPC Posts Higher Q1 Sales Amid Soft Drilling, Crude Output Remains Resilient

US oilfield services provider RPC (RES) reported Q1 earnings Thursday, showing sales of $454.8 million, up from $332.9 million, even as drilling and completion activity continued to run well below pre-2023 levels.The average US rig count in Q1 was 548 rigs, down 6.8% from 588 rigs a year earlier, RPC said, citing data from Baker Hughes (BKR).RPC reported US crude production holding firm at about 14 million barrels per day, even as rig counts declined from 2022 highs.RPC said oil production has trended higher despite lower rig activity. It added that frac spreads have also declined.Price: $7.02, Change: $-0.36, Percent Change: -4.88%

$BKR$RES

US Markets55d ago

Tapestry Raises Full-Year Outlook After Third-Quarter Beat; Stock Falls Amid Subdued Kate Spade Views

Tapestry (TPR) raised its fiscal 2026 outlook after delivering a third-quarter beat, but provided a subdued fourth-quarter sales guidance for its Kate Spade brand, sending the luxury fashion company's shares lower Thursday.The Coach parent now anticipates full-year adjusted revenue in the area of $7.95 billion, up from its previous outlook of more than $7.75 billion. Adjusted earnings are pegged at around $6.95 a share versus its prior guidance range of $6.40 to $6.45. The current consensus on FactSet is for non-GAAP EPS of $6.53 and sales of $7.83 billion.For the quarter ended March 28, non-GAAP EPS jumped to $1.66 from $1.03 a year earlier, while net sales climbed 21% to $1.92 billion. Wall Street's views were for $1.30 and $1.79 billion, respectively.For the ongoing quarter, the company projects EPS of about $1.20, Chief Financial Officer and Chief Operating Officer Scott Roe said on an earnings conference call Thursday, according to a FactSet transcript."For (the fourth quarter) specifically, our guidance embeds pro-forma revenue growth of low-double digits on both a reported and a constant currency basis," Roe told analysts. This incorporates a low-teens growth rate at Coach and a high-single-digit decline at Kate Spade, according to Roe.Tapestry shares were down 10% in afternoon trade.Sales at the Coach brand jumped 31% to $1.70 billion in the third quarter, while Kate Spade saw a 10% drop to $219.6 million.Although top-line trends at Kate Spade improved sequentially, they fell "slightly below expectations, which included pressure from our strategic pullback in promotions at retail," Chief Executive Joanne Crevoiserat said on the call."We also know that turnarounds take time and the path to long-term growth is not always linear," Crevoiserat said. "We are continuing to track the leading indicators of growth, informed by our success and learnings at Coach."In fiscal 2026, the company now expects to return $1.6 billion to shareholders through dividends and share buybacks, up from its previous outlook of $1.5 billion.Price: $131.48, Change: $-17.35, Percent Change: -11.66%

$TPR

Wire55d ago

Johnson Controls Q2 Beat, Raise Led by Data Center Order Growth, RBC Says

Johnson Controls International (JCI) fiscal Q2 results that topped expectations and raised its fiscal 2026 outlook, with strong data center demand and improving operational execution continuing to support the company's "multi-year turnaround story," RBC Capital Markets said.The company posted an operating earnings beat of $0.10, or 8%, above estimates and raised its fiscal 2026 EPS guidance roughly 2% above consensus. Organic sales grew 6% while total company orders climbed 30%, driven by strong growth in the Americas and Asia-Pacific, the note said Wednesday.Data center demand was a key growth driver, contributing to a record $20 billion backlog, up 26% organically. RBC highlighted management's focus on high-performance chiller systems designed for mission-critical environments such as data centers, semiconductor manufacturing and biologics, noting the products also reduce energy consumption.Investor concerns over slowing order growth and flat services orders appear overdone, RBC said, adding that the company has "ample capacity" to meet demand over the next 12 to 18 months.RBC has a sector perform rating on Johnson Controls International and raised its price target to $154 from $139.Price: $138.20, Change: $-4.94, Percent Change: -3.45%

$JCI

Sectors55d ago

Sector Update: Consumer

Consumer stocks were lower Thursday afternoon, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) decreasing 0.5% and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) fractionally lower.In corporate news, Shake Shack (SHAK) shares slumped 28% after the fast food chain operator's Q1 results fell short of Wall Street's estimates amid weather-related headwinds.

$SHAK

Research55d ago

B2Gold Maintained at Buy at Stifel Canada Following Q1 Results; Price Target Kept at C$10.50

Stifel Canada on Thursday maintained its buy rating on the shares of B2Gold (BTO.TO) and its C$10.50 price target after the company released first-quarter results."B2Gold reported Q1/26 adjusted EPS of $0.19 vs. our $0.12 (consensus $0.13) on consolidated gold production of 238Koz (+7% vs. budget; +13% vs. our 210Koz). Q1/26 gold cash costs of $1,403/oz sold (cash operating costs $1,005/oz produced) and AISC of $1,964/oz sold were well-below our $1,706/oz and $2,447/oz, respectively, reflecting higher production, lower sustaining capex (timing), and a favorable royalty contribution. FY26 gold production guidance of 820-970Koz was reaffirmed, including a Q2/26 Goose production reset by 10Koz lower to 18-20Koz (vs. 29Koz budgeted) due to the crushing-circuit fire (Apr-2026), and 60-80Koz of Fekola Regional contribution which remains subject to an exploitation permit expected by June-2026. Mali operations continue uninterrupted at normal levels, including fuel supplies despite geopolitical and supply chain challenges, with a process underway to increase diesel storage capacity by 20% with 36% of remaining 2026 fuel requirements hedged at or below budget prices," 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: $7.00, Change: $+0.91, Percent Change: +14.86%

$BTO.TO

Wire55d ago

Whirlpool Outlook Cut Comes as Iran War Drives Appliance Industry Downturn; Shares Tumble

Whirlpool (WHR) lowered its full-year guidance late Wednesday as record-low consumer sentiment triggered by the Iran war drove a downturn in the US appliance industry, company officials said Thursday.Shares of the appliance maker slumped 12% intraday Thursday. The stock is down 33% so far this year.The company now expects adjusted per-share earnings of $3 to $3.50 in 2026, compared with its previous estimate of $7. Analysts in a FactSet survey expect $4.83. Full-year revenue is pegged at about $15 billion, down from its prior guidance of $15.30 billion to $15.60 billion. Wall Street is looking for $15.26 billion."Consumer sentiment was already on a very low level by any historical standard, but the war in Iran amplified consumer concerns about the cost of living," Chief Executive Marc Bitzer said during an earnings call on Thursday, according to a FactSet transcript.US consumer sentiment plunged to a record low in April as near-term inflation expectations logged the biggest monthly increase in a year, the University of Michigan said last month. Energy prices have surged in the aftermath of the US-Israel war with Iran that has disrupted shipments through the Strait of Hormuz. A ceasefire between Washington and Tehran appears to be holding, with the two sides said to be closing in on a peace deal.Demand in the American appliance industry declined 7.4% in the first quarter, Bitzer told analysts."This level of industry decline is similar to what we have observed during the global financial crisis, and even higher than during other recessionary periods," he said. "While we do believe that the negative industry demand in March was somewhat of an outlier, we do not anticipate a full recovery and are now forecasting US industry demand being down by 5% on a full year base."Whirlpool reported a first-quarter adjusted loss of $0.56 per share late Wednesday, swinging from earnings of $1.70 per share a year earlier. The Street expected non-GAAP EPS of $0.38. Revenue fell 9.6% to $3.27 billion, falling short of the $3.44 billion consensus estimate."Our results in the first quarter were negatively impacted by the ongoing macroeconomic and geopolitical events that have developed since late February," Chief Financial Officer Roxanne Warner said on the Thursday call.Meanwhile, the company decided to suspend its quarterly dividend starting in the second quarter."This decision is critical to ensure we create the capacity on our balance sheet to pay down debt and fund organic growth," Warner said. Whirlpool expects to pay down more than $900 million of debt this year.The guidance cut and dividend suspension were likely needed to support Whirlpool's de-levering efforts, RBC Capital Markets analysts Mike Dahl said in a note emailed Thursday. However, these two actions may still may not be enough to "quickly fix leverage," Dahl said.Price: $47.17, Change: $-7.56, Percent Change: -13.81%

$WHR

Wire55d ago

Dutch Bros' Limited-Time Offers Contributed to Q1 Beat, But Competitive Overhang Remains, RBC Says

Dutch Bros' (BROS) solid underlying improvement continued in Q1, with limited-time offers contributing to the top and bottom line beat, but the competitive overhang remains, RBC Capital Markets said Thursday.While April same-store-sales growth of nearly 5% was only slightly above Street's 4.7% Q2 estimate, RBC believes there is room for upside given success of limited-time offers and merch drops in Q1, according to the note.Starbucks' (SBUX) North America same-store-sales acceleration in Q1 did not appear to affect Dutch Bros' traffic growth, though a competitive overhang remains, the firm said. Management also does not see any impact from Starbucks' Energy Refresher launch, the brokerage said.The company slightly raised its full-year unit growth outlook to more than 185 net adds from 181 previously, according to the firm. While Street estimates are unlikely to move much higher, RBC believes management sounded confident about potential upside.RBC maintained an outperform rating on Dutch Bros with a price target of $75.Shares of Dutch Bros fell more than 8% in Thursday trading.Price: $53.45, Change: $-5.61, Percent Change: -9.50%

$BROS

Research55d ago

Research Alert: CFRA Keeps Sell Opinion On Shares Of Tc Energy 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 price of CAD71, raised CAD5, reflects a combination of relative valuation and DCF model analyses. On a relative basis, we apply a 12.0x multiple of enterprise value to projected 2027 EBITDA, in line with TRP's historical forward average. This approach yields a value of CAD73 per share. Meanwhile, our DCF model, using free cash flow growth of 10% per year for 10 years, 2.5% thereafter, discounted at a WACC of 5.7%, yields intrinsic value of CAD69 per share. We cut our 2026 EPS estimate by CAD0.18 to CAD3.63 and 2027's by CAD0.12 to CAD3.78. We think project pipeline remains strong, and TRP has been executing well on bringing new projects into service. Nonetheless, we think shares are already trading at rich valuations, at a 15% premium to TRP's historical forward average on EBITDA, and a 29% premium on forward cash flows. At current pricing, we think it may be difficult for shares to surprise to the upside.

$TRP

Research55d ago

Research Alert: CFRA Keeps Sell Opinion On Shares Of Tc Energy

CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:Our 12-month target price of USD52, raised USD3, reflects a combination of relative valuation and DCF model analyses. On a relative basis, we apply a 12.0x multiple of enterprise value to projected 2027 EBITDA, in line with TRP's historical forward average. This approach yields a value of USD53 per share. Meanwhile, our DCF model, using free cash flow growth of 10% per year for 10 years, 2.5% thereafter, discounted at a WACC of 5.7%, yields intrinsic value of USD51 per share. We cut our 2026 EPS estimate by CAD0.18 to CAD3.63 and 2027's by CAD0.12 to CAD3.78. We think the project pipeline remains strong, and TRP has been executing well on bringing new projects into service. Nonetheless, we think shares are already trading at rich valuations, at a 15% premium to TRP's historical forward average on EBITDA, and a 29% premium on forward cash flows. At current pricing, we think it may be difficult for shares to surprise to the upside.

$TRP

Research55d ago

Research Alert: CFRA Maintains Sell Opinion On Shares Of Transdigm Group Incorporated

CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:We lower our 12-month target by $9 to $1,061, or 26.2x our FY 27 (Sep.) EPS estimate, below TDG's three-year average forward P/E of 33.7x. We increase our FY 26 EPS by $1.28 to $39.48 and maintain FY 27's at $40.49. Despite strong Q2 results (18% revenue growth, raised FY 26 guidance), we see multiple headwinds. Recent acquisitions totaling $3.2B are margin dilutive; we forecast EBITDA margins down 150 bps in FY 26. Net debt/EBITDA of ~5.9x following acquisitions amplifies refinancing risk beyond FY 27, while elevated interest expense constrains EPS growth. Middle East conflict adds commercial aftermarket uncertainty for 2H 2026, with potential lag effects on flight activity and parts demand. Given our outlook for decelerating growth, we anticipate the earnings multiple will continue to contract after the forward P/E declined from 34.6x at end-2025 to ~28.5x. TransDigm's reliance on sole-source, high-margin defense products makes it particularly exposed to potential DoD procurement reforms targeting pricing.

$TDG

Research55d ago

Research Alert: CFRA Maintains Buy Opinion On Shares Of Maplebear Inc.

CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:We lift our 12-month target by $6 to $54, based on an unchanged 9.0x EV/EBITDA multiple applied to our raised 2026 adj-EBITDA estimate of $1,324M (from $1,299M). We lift our 2026 EPS to $4.38 from $4.16 and 2027 to $5.57 from $4.89. CART is off to a strong start in 2026, with quarterly GTV surpassing $10B for the first time this past quarter. Additionally, ad revenue growth of 16% marked the fastest pace in over two years. The Q2 GTV guide implies another quarter of double-digit Y/Y growth, which we view as strong. However, we believe the shares are trading lower today due to the Q2 adj-EBITDA guide, which implies limited margin expansion. We wouldn't place too much focus on the adj-EBITDA guide, as CART has historically beaten the top end of its guidance range. Moreover, given the company's steep margin expansion over the past few years, a deceleration is inevitable at some point. We maintain our Buy rating, viewing the shares as trading at a deep discount.

$CART

Wire55d ago

Morgan Stanley Adjusts ARM Holdings Price Target to $202 From $191

ARM (ARM) has an average rating of overweight and mean price target of $220.01, according to analysts polled by FactSet.Price: $214.10, Change: $-23.20, Percent Change: -9.78%

$ARM

Commodities55d ago

EMEA Natural Gas Update: Futures Reverse Losses on US Inventory Build

European natural gas futures reversed earlier losses in after-hours trading Thursday after US inventory data showed unexpected global market tightness, while traders await signs on whether the US-Iran conflict could ease and eventually reopen the Strait of Hormuz.Dutch TTF natural gas futures rose 0.907% to 44.30 euros ($52.10) per megawatt hour, while UK NBP contracts gained 1.339% to 109.00 British pence ($1.48) per therm.Market sentiment was buoyed by word that the weekly US natural gas build was less than feared. The US Energy Information Administration said Thursday that domestic inventories built by 63 billion cubic feet, less than the near 80 Bcf expected by the market.Prior to the inventory data, European sentiment softened amid reports that Washington and Tehran were moving toward a potential agreement to end hostilities. Iran is expected to respond within days to a reported one-page US memorandum proposal. The latest diplomatic push followed US President Donald Trump's brief suspension of an initiative intended to provide safe passage for vessels transiting the Strait of Hormuz.Although most Persian Gulf LNG cargoes are destined for Asian buyers, the disruption has tightened global gas balances and heightened concerns in Europe, where countries are attempting to rebuild inventories ahead of the winter heating season.However, European LNG imports declined year on year in March and April after gas prices surged in the wake of the Hormuz disruption. The downturn was particularly severe in the UK, where LNG imports fell 20% year-on-year during the two-month period, according to Vortexa data cited by Timera Energy on Thursday.European gas storage sites were 34.07% full as of Wednesday, according to Gas Infrastructure Europe, trailing the 41.4% level recorded a year earlier."Concerns over a lengthy disruption have already seen some European traders hedge against a price spike next winter," ANZ analyst Daniel Hynes said.Weather forecasts also remained in focus for gas markets.Atmospheric G2 said in a social media post on Thursday that Europe is entering a cooler and more unsettled weather pattern, with below-normal temperatures expected in the coming weeks. The forecaster said stronger wind and hydropower generation could offset weaker solar output, although conditions are expected to remain variable.In a separate post, Atmospheric G2 warned of increasing risks of summer heatwaves and drought across Europe, citing calmer Atlantic conditions and a strong El Nino pattern expected to persist into winter.

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Wire55d ago

Whirlpool Outlook Cut Comes as Iran War Drives Appliance Industry Downturn; Shares Tumble

$WHR