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Update: Alcon Q1 Shares Fall After Q1 Revenue Miss

(Updates with share movement in the headline and the first paragraph.)Alcon (ALC) shares were down nearly 11% in Thursday trading after the company reported Q1 revenue that trailed analyst estimates.The company reported Q1 core earnings late Tuesday of $0.85 per diluted share, up from $0.73 a year earlier.Analysts polled by FactSet expected $0.81.Revenue for the three months ended March 31 was $2.69 billion, up from $2.45 billion a year earlier.Analysts surveyed by FactSet expected $2.70 billion.For the full-year 2026, the company now expects core EPS growth of 10% to 13% from 9% to 12% earlier. It reiterated its revenue growth outlook of 5% to 7%.Price: $66.24, Change: $-7.86, Percent Change: -10.60%

$ALC

Research55d ago

Research Alert: CFRA Keeps Ia Financial At Hold On Mixed Core Eps Results In Wealth & Insurance

CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:We maintain IAG at 3-STARS (Hold) and increase the 12-month target price from CAD176 to CAD184, which is generated from our FY 27 P/E multiple of 11.5x our FY 27 adjusted EPS estimate of CAD16.00. We increase our FY 26 EPS estimate to CAD14.87 (up CAD0.48) and our FY 27 EPS estimate to CAD16.00 (up CAD0.74). The RF acquisition has propelled the Wealth Management segment into the driver's seat in regard to growth and performance. Core earnings in Q1 2026 was ~46% from Wealth versus ~38% in Q1 2025. While asset managers have been benefiting in an asset appreciating market environment, insurance performance has been weaker recently with Q1 core earning declines. Wealth Management reported core earnings up 24% Y/Y, Insurance - Canada core earnings declined 4%, U.S. Operations core earnings decreased 13%, and Investment grew 9% Y/Y. The NCIB program was increased to repurchase 8% of outstanding shares versus the previous 5%, and the dividend was increased by 11%.

$IAG

Wire55d ago

Ford Motor's UEV Platform Key to Cutting EV Losses, UBS Says After Facility Visit

Ford Motor (F) is positioning its new Universal Electric Vehicle, or UEV, platform, developed at its Long Beach center, as a key effort to cut EV losses, UBS said in a note Wednesday.UBS analysts said they visited the "skunkworks" facility in California with Vice President of Advanced Development Projects Alan Clarke. It is the first time the company has opened the center to outside visitors, where leadership described it as operating more like an EV startup focused on speed, agility, innovation, and efficiency than a traditional automaker, according to the note.The unit is central to Ford's UEV platform, which is key to reducing the more than $4 billion annual losses in its Model E EV business, with potential to improve earnings by about 40% if it reaches break-even, the analysts said, adding that key challenges ahead include scaling production and automation, matching product timing with demand, and transferring learnings across Ford's broader operations."In our view, the culture and processes being built there which was done completely separate from 'core' Ford is equally important. Scaling that culture and capabilities to the rest of Ford will be important but may also bring tension," the analysts said.UBS has a buy rating and a $14 price target on Ford Motor.Price: $12.17, Change: $+0.48, Percent Change: +4.06%

International55d ago

Daily Roundup of Key US Economic Data for May 6

ADP private payrolls rose by 109,000 in April after a 61,000 gain in March.The services sectors added 94,000 jobs, led by a 61,000 gain in education and health services jobs. Goods sector payrolls increased by 15,000 jobs, with construction payrolls up 10,000 and manufacturing payrolls up 2,000.The Mortgage Bankers Association reported a 4.4% decline in mortgage applications in the week ended May 1 after a 1.6% drop in the previous week. Refinancing activity and new home applications both declined due to lower mortgage rates.Total crude oil inventories fell by 7.5 million barrels in the week ended May 1, with commercial oil inventories down 2.3 million barrels and stocks in the US Strategic Petroleum Reserve down 5.2 million barrels. Gasoline inventories and distillate inventories both decreased last week.

Commodities55d ago

EMEA Oil Update: Crude Extends Slide as Prospects of US-Iran Deal Ease Supply Fears

EMEA crude futures extended declines in after-hours trading on Wednesday amid reports that the US and Iran are nearing a framework deal to end the Middle East conflict, with President Trump saying "Great Progress" has been made on a final agreement.Brent crude futures dropped by 6.85% to $110.38 per barrel, while Murban oil futures were down 7.63% to $97.88/bbl.Soojin Kim, research analyst at MUFG, said the naval blockade on Iranian ports remains in place, "keeping supply disruptions elevated.""The US also signalled a reduced likelihood of renewed military escalation, with officials confirming that the ceasefire remains intact despite recent attacks in the Gulf region," Kim said.On Wednesday, President Trump said that the US would pause its effort to escort ships through the Hormuz Strait, signalling progress toward a final Iran deal.US officials reportedly believe Washington is nearing a one-page, 14-point memorandum of understanding to end the war and establish a framework for more detailed nuclear talks.The Trump administration expects Iran to respond to several key points over the next 48 hours, but nothing has been agreed to yet."Assuming Iran agrees to give what has been agreed to, which is, perhaps, a big assumption, the already legendary Epic Fury will be at an end, and the highly effective blockade will allow the Hormuz Strait to be open to all, including Iran," Trump said in a post on Truth Social.Pakistan, the mediator in the US-Iran talks, said the two sides were closing in on an agreement on a one-page memorandum of understanding, according to media reports. Iran, meanwhile, is reviewing a new US proposal, and it will convey its response soon through Pakistan.Rystad analysts said reports of a potential deal have gained credibility, with Pakistan's foreign ministry saying it expects a resolution "very soon," while the US anticipates a response from Iran within 48 hours."A deal announcement would move futures further immediately, in fact even the potential of a deal is already triggering a decline in oil prices. However, the physical market does not run on political timelines," said Paola Rodriguez-Masiu, Rystad's chief oil analyst.Global energy supply losses from halted vessel traffic via the Strait since the outbreak of the Middle East conflict have roiled markets and driven up prices. On Tuesday, Trump said that the US would temporarily halt "Project Freedom," citing progress in negotiations with Iran.Going forward, Kim said that tighter US crude inventories and ongoing Middle East supply risks continue to support prices despite improving sentiment around diplomacy.US exports of total petroleum products hit a record high of 8.2 million barrels per day in the week ending May 1, the Energy Information Administration said. The weekly figure is up from 7.7 mmb/d a week ago, according to EIA weekly data.

Mining & Metals55d ago

EMP Metals Receives First Saltworks Equipment Deliveries At Project Aurora Demonstration Plant

EMP Metals (EMPS.CN) has received the first equipment deliveries from its technology partner, Saltworks Technologies, at its Project Aurora demonstration plant, the company said early Wednesday.The first seven truckloads of production equipment from Saltworks Technologies have arrived at its Project Aurora lithium Demonstration Facility located at the company's Viewfield Project Area in Saskatchewan, the company said."The delivery is a significant operational milestone for Project Aurora, EMP's integrated, continuous-flow lithium refining demonstration system designed to process ten (10) m3/day of raw brine from wellhead to lithium chemicals," said the company.The production equipment will be immediately positioned within the facility, with remaining equipment deliveries expected over the coming weeks as the company works toward its targeted plant start date in the third quarter of 2026, it added."We are excited to have Saltworks' processing equipment arrive at our Stoughton facility pre-commissioned and on schedule," said Chief Executive Officer Karl Kottmeier. "This is a moment we've been building toward for several years and I want to thank Saltworks for their technical proficiency and dedication to the success of Project Aurora as we transition from construction to operation."Shares of the company were last seen down $0.025 to $0.55 on the Canadian Securities Exchange.Price: $0.55, Change: $-0.02, Percent Change: -4.35%

$EMPS.CN

Research55d ago

Research Alert: CFRA Maintains Hold Opinion On Shares Of Strategy

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 price by $26 to $198, assuming a 10% BTC yield in 2026 (997K BTC by year-end), a $85K BTC target price, and a 1.20x mNAV (BTC/EV premium). We feel traditional valuation multiples are irrelevant and focus on capital-raising efforts and mNAV estimates to determine our price target. We expect MSTR to acquire 280K-350K BTC in 2026 based on new capital, average BTC prices, and mNAV assumptions. Management announced its intent to move from a passive buy-and-hold vehicle to active management. MSTR currently has $2.2B in BTC it could sell at a loss and pay preferred dividends, creating less dilution vs newly raised capital. Management was willing to potentially sell BTC if mNAV fell below 1.2x and use the proceeds to repurchase stock. Management already raised $11.7B YTD in proceeds, ahead of our view, and we expect STRC to remain the primary vehicle for newly raised capital unless mNAV expands to 1.4x-1.6x. We forecast EPS of $20 (down from $30) in 2026 and $40 (unchanged) in 2027.

$MSTR

Wire55d ago

Graco Reaffirms Long-Term Growth Algorithm, Expands M&A Contribution Target, RBC Says

Graco (GGG) reaffirmed its through-cycle long-term growth algorithm at its investor day, with its new segment structure and "One Graco" operating model supporting future revenue growth and reinforcing its position as an under-the-radar compounder, RBC Capital Markets said in a Wednesday note.The company reiterated its targets of 5% to 7% organic growth and expects 3% to 4% contribution from M&A. This implies a 9% to 10% total revenue compound annual growth rate. Graco is targeting a 12% earnings compound annual growth rate.The company continues to pursue growth through core product expansion, margin improvement and acquisitions, according to the note.Additionally, Graco is accelerating its M&A strategy and targeting one-third of future growth from acquisitions. The company's pipeline includes more than 100 vetted targets. These targets are screened under strict financial and strategic criteria. Graco also has a net cash balance sheet, which supports its acquisition capacity.RBC has an outperform rating on the stock with a $95 price target.Shares of Graco were up 1.8% in Wednesday trading.Price: $80.09, Change: $+1.41, Percent Change: +1.79%

$GGG

Mining & Metals55d ago

Cannara Biotech Completes Medican Organic Buy; Appoints Nicholas Sosiak as its COO

Cannara Biotech (LOVE.TO) on Wednesday closed a deal to acquire Medican Organic, a unit of BZAM Ltd., for $2.8 million.This acquisition completes its prior acquisition of its Valleyfield cultivation and manufacturing facility, purchased from Medican on June 8, 2021, it added.The company also appointed Nicholas Sosiak as its Chief Operating Officer, effective April 23. Sosiak, who has served as the company's Chief Financial Officer since 2020, will transition fully into his new role while the company conducts a search for his successor as CFO, it said. Sosiak will act as the company's interim CFO throughout the search.Shares of the company were last seen up $0.03 to $1.78 on the Toronto Stock Exchange.Price: $1.78, Change: $+0.03, Percent Change: +1.71%

$LOVE.TO

Wire55d ago

Viavi Solutions Insider Sold Shares Worth $566,729, According to a Recent SEC Filing

Luke M Scrivanich, Senior Vice President and General Manager, Optical Security and Performance Products, on May 06, 2026, sold 10,693 shares in Viavi Solutions (VIAV) for $566,729. Following the Form 4 filing with the SEC, Scrivanich has control over a total of 39,287 common shares of the company, with 39,287 shares held directly.SEC Filing:https://www.sec.gov/Archives/edgar/data/912093/000091209326000048/xslF345X05/form4.xmlPrice: $53.09, Change: $-0.88, Percent Change: -1.63%

$VIAV

Sectors55d ago

Update: Gold Moves Higher as the Dollar and Yields Retreat Following Reports the Iran War May Be Near an End

(Updates prices.)Gold was higher midafternoon on Wednesday as the U.S. dollar and yields were sharply lower on reports Iran and the United States are closing in on a deal to end their war, while U.S. private-sector hiring surged last month.Gold for June delivery was last seen up US$122.50 to US$4,691.00 per ounce.The gain in the precious metal follows reports, later confirmed by U.S. President Trump, that Iran and the United States are close to a negotiated deal to end hostilities. In a social media post, Trump said the war "will be at an end" and the Strait of Hormuz will reopen to traffic if Iran agrees to a U.S. peace proposal.Oil traded sharply lower on expectations a deal would reopen the Strait of Hormuz, the chokepoint for 20% of daily oil supply from Persian Gulf nations, easing worries over rising inflation and higher interest rates due to the supply shock."Washington is shifting focus to reopening the strait amid foreign pressure and rising domestic opposition to the war," Saxo Bank noted.U.S. private sector hiring surged in April, with the ADP National Employment Report seeing a rise of 109,000 private-sector jobs last month, up from 61,000 in March and above expectations for a rise of 84,000 positions according to Marketwatch.The dollar was sharply lower early, with the ICE dollar index last seen down 0.39 points to 98.05. Treasury yields also fell, with the yield on the U.S. two-year note last seen down 7.4 basis points to 3.876%, while the 10-year note was paying 4.355%, down 7.4 points.

$GCM6$GLD

US Markets55d ago

Equity Markets Rise Intraday, Oil Plunges Amid US-Iran Peace Deal Optimism

US benchmark equity indexes were higher intraday, while oil prices tumbled as investors reacted to reports saying that Washington and Tehran are nearing a potential agreement to end the war.The Nasdaq Composite was up 1.6% at 25,726 after midday Wednesday, while the S&P 500 advanced 1.1% to 7,339.3. Both indexes were on track for back-to-back record-high closings. The Dow Jones Industrial Average rose 1% to 49,792.1.Among sectors, industrials was outperforming with a 2.2% gain, while energy saw the steepest drop of 4.1%.West Texas Intermediate crude was down 6.6% at $95.57 per barrel, while Brent slumped 7% to $102.20.The US is nearing a deal with Iran on a one-page memorandum of understanding to end their conflict in the Middle East and establish a framework for more detailed nuclear negotiations, Axios reported Wednesday, citing two US officials and two other sources familiar with the matter.The two countries are moving closer to an agreement on a short memorandum to end the war, CNN also reported, citing a regional source familiar with the negotiations."Traders in the US woke up to see some real excitement in the markets today caused by the (Axios) news," Macquarie said in a note. "The good news, for now, is that the same sources that leaked the existence of a deal to Axios said this was the closest the parties had been to an agreement since the war began."US President Donald Trump issued a fresh warning to Iran, saying the "bombing starts" again if a deal is not reached."Assuming Iran agrees to give what has been agreed to, which is, perhaps, a big assumption, the already legendary Epic Fury will be at an end, and the highly effective blockade will allow the Hormuz Strait to be open to all, including Iran," Trump said in a social media post.Iran said it is still reviewing the latest US proposal, according to news reports.US Treasury yields were lower intraday, with the 10-year rate down 7.4 basis points at 4.36% and the two-year rate falling 7.2 basis points to 3.88%.In company news, Advanced Micro Devices (AMD) shares surged nearly 17%, among the best performers on the S&P 500. Late Tuesday, the chipmaker reported stronger-than-expected first-quarter results as demand for artificial intelligence infrastructure pushed data center revenue higher year over year.Walt Disney's (DIS) fiscal second-quarter results came in ahead of market estimates Wednesday amid revenue gains across all business operations, while the media and entertainment giant reiterated its expectations for growth to accelerate in the second half. Disney's shares climbed 6.5%, the top performer on the Dow.Nvidia (NVDA) followed Disney on the Dow, up 4.5%. Specialty glass maker Corning (GLW) will boost its optical connectivity manufacturing capacity under a multiyear partnership with chipmaking giant to support AI factory buildouts. Corning shares jumped 14%.Arista Networks (ANET) shares tumbled 16%, among the worst S&P 500 performers. Late Tuesday, the cloud networking company issued a second-quarter revenue outlook slightly below market estimates.Arm (ARM), Applovin (APP), DoorDash (DASH) and Warner Bros. Discovery (WBD) are expected to report after the closing bell Wednesday, along with others.In economic news, employment in the US private sector grew at its fastest pace in more than a year in April, ADP (ADP) data showed."The uptick in private payroll gains from the ADP employment report not only suggests a stable labor market, but one that was potentially warming despite the outbreak of the war in Iran," Oxford Economics said in a note. "If this signal is echoed in the official measure on Friday, the unemployment rate is likely to fall given the low break-even rate, which we estimate is near zero."Data from the Bureau of Labor Statistics are expected to show Friday that the US economy added 65,000 nonfarm jobs last month, which would represent a fall from a 178,000 increase reported for March, according to a Bloomberg-compiled survey. The unemployment rate is seen unchanged at 4.3%.Gold rose 2.8% to $4,695.90 per troy ounce, while silver climbed 5.3% to $77.48 per ounce.

Dow JonesNasdaq CompositeS&P 500$ADP$AMD$ANET$APP$ARM$DASH$DIS$GLW$NVDA$WBD

Sectors55d ago

Sector Update: Financial Stocks Higher Wednesday Afternoon

Financial stocks were advancing in Wednesday afternoon trading, with the NYSE Financial Index rising 1.3% and the State Street Financial Select Sector SPDR ETF (XLF) adding 0.5%.The Philadelphia Housing Index was climbing 1.9%, and the State Street Real Estate Select Sector SPDR ETF (XLRE) was up 1.5%.Bitcoin (BTC-USD) was increasing 0.7% to $81,508, and the yield for 10-year US Treasuries was shedding 6.2 basis points to 4.35%.In economic news, employment in the US private sector grew at its fastest pace in more than a year in April, ADP data showed Wednesday, ahead of nonfarm payrolls due later in the week. Private jobs grew by 109,000, representing the fastest growth pace since January 2025, the payrolls processing firm said. The consensus was for 120,000 in a Bloomberg-compiled survey. The March print was revised down to 61,000 from 62,000.In corporate news, JPMorgan Chase (JPM) said it has created an index tracking about 6,400 private US midsize companies with a combined $1 trillion in annual revenue. JPMorgan added 1.6%.Synchrony Financial (SYF) and Dick's Sporting Goods (DKS) said Wednesday they are relaunching their credit card program. Synchrony shares rose 1.2%.Andersen (ANDG) said Wednesday it has closed the acquisition of six firms in Ireland, New Zealand, Nigeria, and Uruguay, representing about $34.5 million in annualized revenues. Andersen shares increased 1.2%.

$ANDG$JPM$SYF

Wire55d ago

IDEX Raises Quarterly Dividend to $0.73 a Share From $0.71, Payable June 5 to Shareholders of Record on May 22

$IEX

Sectors55d ago

Sector Update: Energy Stocks Fall Wednesday Afternoon

Energy stocks were lower Wednesday afternoon, with the NYSE Energy Sector Index falling 3.8% and the State Street Energy Select Sector SPDR ETF (XLE) dropping 4.2%.The Philadelphia Oil Service Sector Index was shedding 1.6%, and the Dow Jones US Utilities Index was down 1.2%.The White House is of the view that an agreement with Tehran -- a one-page memorandum of understanding to end the war and set a framework for more detailed nuclear negotiations -- is close, Axios reported, citing two US officials and two other sources briefed on the issue. Washington's MoU, if Iran accepts it, will lead to a gradual reopening of the Strait of Hormuz and lifting of the American blockade on Iranian ports, a person familiar with the matter told Bloomberg.Front-month West Texas Intermediate crude oil sank 7% to $95.14 a barrel, and the global benchmark Brent crude contract slumped 7.4% to $101.72 a barrel. Henry Hub natural gas futures fell 2.5% to $2.72 per 1 million BTU.US crude oil stocks, including those in the Strategic Petroleum Reserve, fell by 7.5 million barrels in the week ended May 1 following a decrease of 13.4 million barrels in the previous week. Excluding inventories in the SPR, commercial crude oil stocks decreased by 2.3 million barrels after a 6.2-million-barrel drop in the previous week, compared with the 3.4-million-barrel decrease expected in a survey compiled by Bloomberg.In sector news, Triton Uranium is considering a US listing through a merger with a special purpose acquisition company in 2026, its president Scott Evans told Reuters, as the company seeks to tap rising demand for nuclear fuel and bolster domestic supply. The Canada-based company has begun development work at its Atlas Project in Uranium City, Saskatchewan, where it controls about 46,742 acres of mineral claims, the report said.In corporate news, Equinor (EQNR) shares fell past 8% after the firm reported Q1 revenue that decreased year on year and missed analysts' estimates.Vermilion Energy (VET) reported a Q1 loss Wednesday of 0.95 Canadian dollar ($0.70) per diluted share, swinging from earnings of CA$0.10 a year earlier. Its shares dropped over 12%.Nano Nuclear Energy (NNE) said Wednesday it has signed a memorandum of understanding with Super Micro Computer (SMCI) to explore the integration of Nano's energy systems with Supermicro's AI server and data center platforms. Nano shares surged 22%.Terrestrial Energy (IMSR) and Riot Platforms (RIOT) said Wednesday they are collaborating to develop a pairing of planned data centers with co-located nuclear plants. Terrestrial shares jumped past 16%.

$EQNR$IMSR$NNE$VET

Wire55d ago

Jazz Pharmaceuticals Delivered Strong Q1 on Broad-Based Portfolio Growth, RBC Says

Jazz Pharmaceuticals (JAZZ) delivered a "strong" Q1 as broad-based growth across its commercial portfolio and pipeline reinforced confidence in the health of the business, RBC Capital Markets said in a report Wednesday.Q1 revenue of about $1.07 billion topped the consensus estimate of $978 million, driven by strength across nearly "all major assets," the report said, adding that the company maintained its 2026 revenue guidance of $4.25 billion to $4.5 billion, though results could exceed that range.Concerns remain around future generic competition for the "oxybate franchise" and competitive pressures in oncology, though the firm believes the company's strong execution provides a cushion against potential "erosion." RBC estimates 2026 sales for Xywav at about $1.73 billion with expected "gradual decline" in later years, according to the report.The report also highlighted the company's "oncology pipeline" as a key focus, citing potential expansion opportunities for Ziihera, strong "initial uptake" for Modeyso, better-than-expected Zepzelca revenue and 15% year-over-year Epidiolex sales growth to $250 million driven by sustained epilepsy-related demand and international expansion.RBC maintained an outperform rating on Jazz Pharmaceuticals and raised its price target to $258 from $195.Price: $223.80, Change: $+11.54, Percent Change: +5.44%

$JAZZ

Wire55d ago

Stellantis Adds Morocco Dismantling Hub to Support Middle East, Africa

Stellantis (STLA) opened a vehicle dismantling center in Morocco to serve the Middle East and Africa region.The 6,000 square-meter facility in Casablanca can dismantle up to 10,000 vehicles annually after a total investment of 1.6 million euros ($1.88 million), Stellantis said Wednesday in a statement.The company also operates dismantling centers in Italy and Brazil.Price: $7.67, Change: $+0.47, Percent Change: +6.46%

$STLA

International55d ago

S&P 500, Nasdaq Hit Records as Iran Steps Closer to Peace Deal, AMD's Q1 Results Fire Up Chipmakers

US equity indexes rose after midday Wednesday, with the S&P 500 and the Nasdaq Composite scaling new highs as Iran closed in on a peace deal and Advanced Micro Devices' (AMD) Q1 results sparked a rally in semiconductors.The Nasdaq traded 1.6% higher at 25,737.8 after touching a record 25,741.14 intraday. The S&P 500 was up 1.2% to 7,342.9 after hitting an all-time high of 7,348.35 earlier in the session. The Dow Jones Industrial Average advanced 1.1% to 49,818.9.Communication services, industrials, materials, and technology led the gainers, while energy was the steepest decliner in midday trading.The White House is close to agreeing on a one-page memorandum of understanding to end the war with Iran and set a framework for more detailed negotiations about Tehran's nuclear ambitions, Axios reported, citing two US officials and two other sources briefed on the issue. While nothing is final yet, the sources said this was the closest the duo has been to an agreement since the war began.Washington's MoU, if Iran accepts it, will lead to a gradual reopening of the Strait of Hormuz and lifting of the American blockade on Iranian ports, a person familiar with the matter told Bloomberg. Meanwhile, President Donald Trump warned Iran that "bombing starts" again if a deal is not reached, according to multiple media reports.West Texas Intermediate crude oil futures sank 6.8% to $95.47, and Brent crude futures plunged 7.9% to $101.97.US Treasury yields fell, with the 10-year down 6.2 basis points to 4.35%, extending its retreat from the highest in about a month. Two-year yield slumped 6.9 basis points to 3.87%.In precious metals, gold futures advanced 2.8% to $4,697.9, and silver futures surged 5.4% to $77.59.In company news, Advanced Micro Devices (AMD) shares surged nearly 17%, among the top gainers on the S&P 500 and the Nasdaq, after the chipmaker overnight posted stronger-than-expected fiscal Q1 results and issued an upbeat Q2 revenue outlook.Out of the 10 top performers in a category for companies with a market capitalization of more than $200 billion, over half were from the semiconductor industry, according to data compiled by Finviz. AMD's results reinforced growing confidence in the accelerating demand for artificial intelligence-related products and services.Walt Disney's (DIS) fiscal Q2 results beat estimates amid revenue gains across all business operations, and the media and entertainment giant reiterated expectations that growth will accelerate in H2. Shares jumped 6.7%, the Dow's top gainer.In economic news, employment in the US private sector grew at its fastest pace in more than a year in April, ADP data showed Wednesday, ahead of nonfarm payrolls due later in the week. Private jobs grew by 109,000, representing the fastest growth pace since January 2025, the payrolls processing firm said. The consensus was for 120,000 in a Bloomberg-compiled survey. The March print was revised down to 61,000 from 62,000.

Dow JonesNasdaq CompositeS&P 500$AMD$DIS

Wire55d ago

Update: JPMorgan Creates Middle-Market Index to Track Private Companies

(Changes sourcing to JPMorgan note, adds details in 3rd and 4th paragraph)JPMorgan Chase (JPM) has created an index tracking about 6,400 private US midsize companies with a combined $1 trillion in annual revenue, according to a note by the bank Wednesday.The index, J.P. Morgan Private Assets Index (JPAX) - Middle Market, tracks the performance and equity value growth of mid-sized US private companies with annual revenues between$10 million and $1 billion, the note said.The index will function as a "diagnostic" instrument rather than a tradable product, and added that the index is rebalanced and published monthly, the note added.The note also said that index returns can be attributed to three drivers - revenue growth, net debt change and public market equivalent industry multiple change.Price: $314.60, Change: $+5.20, Percent Change: +1.68%

$JPM

Sectors55d ago

Sector Update: Health Care Stocks Mixed Wednesday Afternoon

Health care stocks were mixed Wednesday afternoon, with the NYSE Health Care Index increasing 0.1% and the State Street Health Care Select Sector SPDR ETF (XLV) shedding 0.1%.The iShares Biotechnology ETF (IBB) climbed 1.8%.In corporate news, CVS Health (CVS) raised its full-year earnings outlook after reporting better-than-expected Q1 results driven by improvement in its health-care benefits segment. Its shares gained 6.8%.Novo Nordisk (NVO) expects generic versions of its Ozempic medication to face approval delays in China until next year, Bloomberg reported, citing the drugmaker. The patent for semaglutide, the main ingredient in Ozempic and Wegovy, expired in China in March, but the company said it still has regulatory data protection until April 2027 due to a trade agreement between China and Switzerland, Bloomberg reported. Novo shares rose 2.5%.Eli Lilly (LLY) is looking to raise about $8 billion from an investment-grade bond sale to fund an acquisition spree, Bloomberg reported. Lilly shares added 0.3%.

$CVS$LLY$NVO

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US Markets55d ago

Equity Markets Rise Intraday, Oil Plunges Amid US-Iran Peace Deal Optimism

Dow JonesNasdaq CompositeS&P 500$ADP$AMD$ANET$APP$ARM$DASH$DIS$GLW$NVDA$WBD