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RBC Lowers Colliers International Group's Price Target to US$155.00 From US$160.00, Maintains Outperform Rating

RBC Capital Markets maintained its outperform rating on the shares of Colliers International Group (CIGI.TO, CIGI) and lowered its price target to US$155.00 from US$160.00 after the company reported its first-quarter financial results.RBC characterized Q1 as "top-line strong but bottom-line wobbly.""Overall AEBITDA margin declined 67 bps to 9.5%, caused by: 1) CIGI has been investing in recruiting and IT investments to enable AI efficiencies within CRE, 2) Outsourcing had slower growth, 3) Lower utilization in residential development and telecom end markets in Engineering, 4) Higher than expected tax rate in Europe, 5) Integration under Harrison Street platform in IM, which has been well articulated in the past," stated RBC.While 2026 guidance was maintained, it relies on a strong H2, said RBC. CM and leasing appear on track to deliver "strong revenue growth", 25% expected for CM and 8% for leasing in 2026, which RBC expects to more fully flow through to EBITDA in H2, as it did last year. Europe and APAC "could be slowing somewhat" from the Iran war but NA "remains strong notwithstanding rate rise," it further stated."Given macro uncertainties and lingering AI impact overhang where one is 'guilty until proven innocent', CIGI's price action today suggests that the market has no patience for wobbly quarters nor backend-loaded guidance," said RBC in a note dated May 5, 2026.RBC continues to believe that for "patient investors", CIGI offers "good value" even under RBC's "more conservative" 2026 estimates at 13x AEPS and 10.5x AEBITDA."Our new PT of (US)$155 (-3%) is based on forward AEBITDA multiple of 12.5x, reflecting 11x for CRE, 12x for Engineering and 15x for IM. Maintain OP," added RBC.Price: $137.23, Change: $+5.09, Percent Change: +3.85%

$CIGI$CIGI.TO

Commodities55d ago

Vermilion Reports Higher Q1 Production, Sales Volumes; Maintains 2026 Outlook

Vermilion Energy (VET) reported Q1 earnings on Wednesday, showing total production of 125,618 barrels of oil equivalent per day, up from 103,115 boe/d a year earlier, according to the company.Natural gas production increased to 539.29 million cubic feet per day for the quarter ended Mar. 31 from 369.36 mmcf/d a year earlier, while natural gas liquids output rose to 12,044 b/d from 9,167 b/d, Vermilion said.Crude oil and condensate production declined to 23,692 b/d from 32,386 b/d a year earlier, according to the company.Vermilion generated an average production of 99,746 boe/d from Canadian operations in Q1, up 10% from the prior quarter, while international production totaled 25,872 boe/d, the company added.Vermilion reported consolidated sales volumes of 126,867 boe/d in Q1, up from 102,427 boe/d a year earlier, the company said.Crude oil and condensate sales volumes declined to 24,941 b/d in the quarter, compared with 31,698 b/d a year earlier, while natural gas liquids sales volumes increased to 12,044 b/d from 9,167 b/d, Vermilion said.Natural gas sales volumes increased to 539.29 million cubic feet per day from 369.36 mmcf/d a year earlier, the company added.Vermilion expects Q2 production to average 123,000 boe/d to 125,000 boe/d and maintains its full-year production outlook of 118,000 boe/d to 122,000 boe/d on exploration and development spending of CA$600 million ($440.2 million) to CA$630 million, according to the company.Price: $11.82, Change: $-1.81, Percent Change: -13.28%

$VET

Japan55d ago

S&P 500, Nasdaq Break Records as Iran Peace Deal Reportedly in Offing, AMD Helps Boost Technology

US equity indexes rose after midday Wednesday, with the S&P 500 and the Nasdaq Composite scaling new all-time peaks, amid growing expectations of a peace deal with Iran and as quarterly earnings lifted the technology landscape.The Nasdaq traded 1.5% higher at 25,704.2 after touching a record 25,708.84 intraday. The S&P 500 was up 1.2% to 7,346.5 after hitting an all-time high of 7,348.35 earlier in the session. The Dow Jones Industrial Average advanced 1.2% to 49,892.6.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 the gradual reopening of the Strait of Hormuz and lifting of the American blockade on Iranian ports, a person familiar with the matter told Bloomberg.West Texas Intermediate crude oil futures sank 6.9% to $95.34, and Brent crude futures plunged 7.7% to $102.20.In company news, Advanced Micro Devices (AMD) shares surged 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.

Dow JonesNasdaq CompositeS&P 500$AMD

Commodities55d ago

EMEA Natural Gas Update: Prices Drop on Latest US-Iran Peace Proposal

European natural gas futures prices trimmed earlier declines in after-hours trade on Wednesday after Iran said it was reviewing a US proposal aimed at ending the conflict, signaling no immediate acceptance of terms pushed by Washington.Dutch TTF futures fell 6.012% to 44.105 euros ($51.83), while UK NBP contracts fell 5.825% to 108.32 British pence ($1.47).Prices had dropped by nearly 9% earlier in the session on initial reports of diplomatic progress before reversing some of those losses after US President Donald Trump threatened intensified military action if Tehran rejects the deal.The White House reportedly believes a framework agreement is close and is awaiting Iran's response by Friday, news outlets reported. Late Tuesday, Trump said the US would pause a recently announced operation to escort commercial shipping through the Strait of Hormuz, citing "great progress" in talks. However, he later warned that if Iran rejects the proposal, "the bombing starts" and would be at a higher level of intensity than before.The conflict in the Middle East and the closure of the Strait of Hormuz have kept European natural gas supplies tight and expensive. "Although most Middle East gas flows to Asia, the disruption has tightened global supply and raised concerns in Europe, which needs to rebuild inventories ahead of winter," Trading Economics said.EU gas storage levels stood at 34.07% of capacity on Wednesday, according to Gas Infrastructure Europe, well below 41.4% a year earlier.Separately, Norway's Equinor reported its strongest quarterly earnings in three years on Wednesday, supported by higher production and rising prices driven by the conflict. The company said the tensions in the Gulf have also increased Asian demand for LNG cargoes from Europe.Equinor operates an LNG plant in Arctic Hammerfest, typically serving customers in Europe."But we see that there is demand from customers in Asia who contact us once a year to maintain their customer relationship. They call twice a week now," Equinor CEO Anders Opedal reportedly said during an earnings call.

Wire55d ago

Alkermes' Q1 Revenue Beat Highlights 'Underappreciated' Core Business, RBC Says

Alkermes' (ALKS) better-than-expected Q1 revenue highlights the "underappreciated nature" of the company's core business, analysts at RBC Capital Markets said in a Tuesday note.Management remains confident in the company's competitive position and multiple catalysts can serve as value inflection points, including phase 2 and phase 3 three idiopathic hypersomnia data and early stage ADHD data, the RBC analysts said.Q1 royalty revenue came in better than expected, helped by a strong quarter for Vumerity. RBC now expects $1.81 billion in 2026 revenue and said if the strength continues in Q2, the company could point investors to the higher end of its guidance range, according to the note.RBC said it is looking forward to alixorexton data in idiopathic hypersomnia in H2, which could add another $1 billion in 2035 sales, for a total opportunity of more than $3 billion.While revenue is strong, the company is maintaining its product-by-product and total revenue guidance of $1.73 billion to $1.84 billion, the brokerage added.RBC maintained an outperform rating on Alkermes with a price target of $44.Price: $35.55, Change: $-0.70, Percent Change: -1.93%

$ALKS

Wire55d ago

Update: BofA Securities Adjusts PayPal Price Target to $53 From $55, Maintains Neutral Rating

(Updated to include BofA's commentary)BofA Securities lowered its price target on PayPal (PYPL) to $53 from $55, following weaker-than-expected quarterly report.While the Q1 results exceeded expectations, they did little to change the near-term earnings or growth narrative, with both worse-than-expected Q2 guidance and the decision to reiterate full-year guidance reinforcing the absence of a clear operating inflection.The brokerage reiterated its Neutral rating, viewing sustained execution as the key swing factor for investor confidence.PayPal has an average rating of Hold and mean price target of $50.15, 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: $46.09, Change: $-0.39, Percent Change: -0.84%

$PYPL

Wire55d ago

Wendy's Estimates Lowered on 'Challenging' Setup, Oppenheimer Says

Wendy's (WEN) estimates are lowered ahead of its Q1 results to reflect a challenging setup, Oppenheimer analysts said in a Tuesday report. The Q1 results are due May 8.The analysts lowered their 2026 and 2027 estimates for same-store sales and EBITDA below consensus estimates."We believe our model better reflects the challenging near-term setup and ongoing underperformance vs. peers," they said.For Q1, US same-store sales are expected to drop 7.5%, against the Street's 7.2% decline, the report said. EBITDA is forecast at $101.7 million, below Street's $102.5 million estimate.Still, sales trends could improve in the second half of 2026 as Wendy's closes underperforming restaurants, rolls out marketing initiatives and benefits from easier comparisons.Oppenheimer maintained its perform rating on the stock.Price: $6.60, Change: $-0.02, Percent Change: -0.23%

$WEN

Research55d ago

Research Alert: CFRA Maintains Sell Opinion On Shares Of Celanese Corporation

CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:After reviewing Q1 earnings, we raise our 12-month target price by $2 to $43 on a forward P/E of 7.4x our 2027 EPS view of $5.78, a discount to the three-year average of 10.4x justified by CE's high debt levels and subdued demand. We raise our 2026 EPS view by $1.35 to $6.14 and decrease 2027's by $0.09 to 5.78. Our sales estimates are $9.7 billion for 2026 and $10.1 billion for 2027. On the positive side, CE's Acetyl Chain's Q2 2026 Adjusted EBIT guidance of $300M-$325M was solid, led by higher expected volumes and prices. However, the acetate tow business remains weak and feedstock costs have risen sharply. Meanwhile, Engineered Materials' Q2 2026 Adjusted EBIT guidance of $190M-$210M was more conservative due to inventory reductions and additional costs from the POM facility turnaround. Overall, we believe CE's 48% year-to-date stock gain is excessive and expect earnings to decline once again in 2027 as the temporary margin boost from the Middle East conflict fades.

$CE

Wire55d ago

Advanced Micro Devices CPU Momentum Strong, GPU Upside Key for Outperformance, RBC Says

Advanced Micro Devices (AMD) reported solid results and an upbeat outlook but further outperformance will depend on GPU ramp execution, while competition and execution risks remain longer term, RBC Capital Markets said in a Wednesday research note.The company posted higher year-over-year Q1 adjusted earnings of $1.37 per diluted share from $0.96. Revenue increased to $10.25 billion from $7.44 billion. Advanced Micro Devices issued Q2 revenue guidance of $11.2 billion, plus or minus $300 million.Advanced Micro Devices' server central processing unit, or CPU, segment outperformed in Q1. It grew more than 50% year on year supported by agentic artificial intelligence. AI graphics processing unit, or GPU, also posted a substantial double-digit growth on an annual basis, the investment firm added.The company could face risks from intensifying competition with ARM (ARM) in the server CPU market. RBC said further outperformance would depend largely on ramps of MI455/Helios, with limited near-term catalysts until the MI GPU cycle scales.RBC raised its price target on AMD to $400 from $325, with a sector perform rating.Shares of Advanced Micro Devices were up more than 16% in Wednesday afternoon trading.Price: $414.15, Change: $+58.89, Percent Change: +16.58%

$AMD$ARM

Commodities55d ago

ATCO Q1 Posts Lower Hedged Power Contracts, Nuclear Deals Grow

ATCO reported Q1 earnings on Wednesday, highlighting forward power sale contracts totaling 6.59 million megawatt-hours and new modular infrastructure contracts tied to US data center and nuclear generation projects.ATCO's forward power sale contracts subject to hedge accounting totaled 6.59 million MWh in the quarter ended March 31, down from 6.81 million MWh at the end of 2025.The company also booked CA$23 million ($16.9 million) in US contracts covering 172 modular units supporting data center construction in Texas and Utah and nuclear generation developments in Idaho and Wyoming.ATCO Structures secured over CA$113 million in modular housing contracts tied to mining, data center, nuclear and infrastructure projects across Canada, the US and Australia.

Treasury55d ago

Canada's Provincial Budgets in Pain From Healthcare Costs, Says CIBC

The COVID-19 pandemic may be distant in the rearview mirror, but healthcare costs in Canada are continuing to have an outsized impact on provincial finances, said CIBC.At just over 40% of total expenses in aggregate, healthcare is always the single biggest line item, writes the bank in a note to clients. However, its recent impact has been even greater than that, as it has contributed more than half of the increases in spending seen in the past five years.In addition, these cost increases haven't always been easy to predict, with healthcare also contributing more than 50% of recent spending overshoots relative to initial budget estimates, points out CIBC.Increased health spending needs have often been blamed on inflation, including pay increases for medical staff and population growth. While concerns about inflationary pressures are resurfacing again due to the Middle East conflict, the sharp deceleration in population growth should, in theory, ease the strain on healthcare costs.Unfortunately, however, there is another and potentially larger factor driving costs upwards, one that will get worse before it gets better. That's the increase in healthcare costs that comes from an aging population, as per capita health spending rises exponentially for age brackets above 65, states the bank.If the population continues to age as expected, then healthcare costs could continue to rise more than provinces, on aggregate, are currently projecting, according to CIBC.

$CXY

Wire55d ago

Market Chatter: Alphabet's Google Proposes Changes to Search News Results Display to Avoid Further EU Fines

Alphabet's (GOOG, GOOGL) Google has proposed changes to how it shows news results in its search engine to avoid further EU competition fines, Bloomberg reported Wednesday, citing people familiar with the matter.The fines already total 9.5 billion euros ($11.2 billion), the report said, adding that the company is responding to concerns that it was "deliberately" lowering results for publishers' websites that include ads from certain commercial partners.Google told Bloomberg that it is "continuing to engage constructively" with the European Commission and its priority is to protect users from "deceptive practices like 'parasite SEO' spam that undermine the web."Alphabet didn't immediately reply to' request for comment.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)Price: $395.48, Change: $+11.17, Percent Change: +2.91%

$GOOG$GOOGL

Research55d ago

Research Alert: CFRA Maintains Buy Rating On Shares Of Revvity

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 price target from $102 to $108, based on 18.3x our 2027 EPS view. This is below the company's five-year historical forward average P/E of 21.4x. Our 2026 EPS estimate is $5.30 (down from $5.41), and our 2027 EPS estimate is $5.89 (down from $6.00). We think RVTY's commentary on pharma and biotech end markets was more positive than in previous quarters, with management citing the strongest performance in this segment since early 2023. The positive growth from academic and government customers in the U.S. for the first time since Q2 2023 also signals a potential inflection. We anticipate a near-1% sales decline in 2026 given the recently announced China immunodiagnostics business divestiture. On an organic basis, we anticipate near-3.5% growth over the full year. The adjusted EPS midpoint of $5.275 implies 4.2% annual EPS growth, though we anticipate earnings growth will accelerate by over 11% in 2027.

Wire55d ago

Rapid7, Qualys Q1 Upside Driven by AI Push But Outlooks Limit Sentiment, Morgan Stanley Says

Rapid7 (RPD) and Qualys (QLYS) delivered slight Q1 beats while increasingly focusing on artificial intelligence-driven cybersecurity products, but overall sentiment is unlikely to improve given the companies' flat to slightly weaker outlooks, Morgan Stanley said in a note Wednesday.For Q2, Rapid7 expects revenue to continue declining and annual recurring revenue is expected to fall further to around $820 million. Qualys' outlook for 2026 is stable but lacks acceleration, with unchanged billings guidance implying continued low-to-mid single-digit growth, the investment bank said.Morgan Stanley said Rapid7 management leaned heavily into the AI and cybersecurity narrative, shifting value toward proactive exposure management, managed detection and response services, AI-driven security operations center automation, and large-scale remediation, but the company will need to show these improvements in its results before it gets credit for a turnaround.Qualys management also emphasized accelerating momentum in exposure and threat management, Agent Val, TruRisk Eliminate, autonomous exploit validation, and AI-native risk operations center workflows, arguing that advanced AI models will increase vulnerability volumes and shorten exploit windows, according to the note.Morgan Stanley lowered its price target on Rapid7 to $9 from $10, while keeping its equal-weight rating. The firm also cut Qualys' price target to $96 from $117, and maintained its underweight rating.Price: $6.71, Change: $+0.03, Percent Change: +0.45%

$QLYS$RPD

Mining & Metals55d ago

TSX up 360 Points With Miners, Financials Leading Gains

The Toronto Stock Exchange is up 360 points at midday with miners (+5.2%) and financials (+15%), the best performers.Energy and info tech, down 4.8% and 1.6%, respectively, are the worst performers.Energy stocks are down as oil prices sink on hopes that the U.S. and Iran may be nearing a deal to re-open the Strait of Hormuz, media reports say.In domestic news, the Ivey Purchasing Managers Index (PMI) data released Wednesday showed that Canadian economic activity grew in April at the fastest pace in seven months as employment and prices accelerated. The seasonally adjusted index rose to 57.7 last month from 49.7 in March, its highest level since September.In stocks, Vermilion Energy (VET.TO) slumped over 12% to a fresh 52-week low, after it reported a first-quarter earnings miss.

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

Insider Trading55d ago

Kirby Insider Sold Shares Worth $250,287, According to a Recent SEC Filing

Ronald A Dragg, Vice President and Controller, on May 04, 2026, sold 1,726 shares in Kirby (KEX) for $250,287. Following the Form 4 filing with the SEC, Dragg has control over a total of 8,673 common shares of the company, with 8,673 shares held directly.SEC Filing:https://www.sec.gov/Archives/edgar/data/56047/000119312526208245/xslF345X05/ownership.xmlPrice: $143.61, Change: $+0.24, Percent Change: +0.17%

$KEX

Insider Trading55d ago

Viavi Solutions Insider Sold Shares Worth $6,818,020, According to a Recent SEC Filing

Oleg Khaykin, Director, President & CEO, on May 05, 2026, sold 124,790 shares in Viavi Solutions (VIAV) for $6,818,020. Following the Form 4 filing with the SEC, Khaykin has control over a total of 1,482,702 common shares of the company, with 1,482,702 shares held directly.SEC Filing:https://www.sec.gov/Archives/edgar/data/912093/000091209326000046/xslF345X05/form4.xmlPrice: $52.63, Change: $-1.34, Percent Change: -2.48%

$VIAV

Research55d ago

Research Alert: CFRA Reiterates Sell Opinion On Shares Of Martin Marietta Materials, Inc.

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 $39 to $531, valuing shares at an EV/EBITDA of 15.2x our next-12-month continuing operations EBITDA estimate, a discount to its five-year average of 16.1x. We justify our discount given our view of a less supportive construction environment compared to recent years that benefited from substantial IIJA funding. With the IIJA set to expire September 30, 2026, and no replacement currently in place, market expectations for sustained funding may not adequately reflect a scenario where infrastructure funding moves from delayed to canceled, in our opinion. We lower our 2026 EPS view by $0.47 to $19.45 and our 2027 EPS view by $1.37 to $23.10. MLM's focus on its core aggregates business drives our expectations for 180 bps of EBITDA margin expansion (cont. operations) to 35.4% as the divested lower-margin cement/ready-mix concrete operations no longer drag on consolidated margins, though elevated fuel costs and inflation-driven construction budget constraints may limit pricing power.

$MLM

Wire55d ago

Cytokinetics' Rapid Growth of Myqorzo not Fully Priced in by Investors, RBC Says

Cytokinetics' (CYTK) rapid growth of the Myqorzo drug and peak US opportunity in obstructive hypertrophic cardiomyopathy are yet to be fully priced in by investors, RBC Capital Markets said in a Tuesday research report.As Cytokinetics transitions from the clinical to the commercial stage, the brokerage said it expects upside on launch execution and potential merger optionality. If it continues to add 400 to 500 new patient starts monthly, it could result in substantial commercial growth through the year, the firm said.The absence of considerable inventory contribution supports the view that there is organic demand for Myqorzo as most of the operational hurdles have been worked through, according to the note.ACACIA-HCM to treat symptomatic non-obstructive hypertrophic cardiomyopathy is a "clear win" that can enable registration in this indication, according to the firm. RBC raised its probability of success forecast for the drug to 90% and 2035 US sales estimate to $1.30 billion, the firm said.The firm removed its speculative risk rating on the stock and boosted its price target to $119 per share from $101.Price: $73.59, Change: $-3.50, Percent Change: -4.54%

$CYTK

Commodities55d ago

NRG Energy Flags Major Earnings Upside as Texas, PJM Power Prices Climb

NRG Energy (NRG) reported Q1 earnings on Wednesday, forecasting that its generation fleet is positioned to capture significant gains, as rising power prices, tighter market conditions and a leveraged generation position boosted its outlook.The utility said its Texas generation-only portfolio could deliver gross margins exceeding $3 billion at $100 per megawatt-hour power prices under low-hedge levels, compared with losses at prices below $50/MWh.The company's current guidance assumes about $52/MWh, with hedge coverage ranging from 95% to less than 25%.NRG projected similar upside for its PJM fleet, at $100/MWh, with gross margins projected to reach about $1.5 billion in 2026.NRG's base assumptions include weather-normal conditions and benchmark natural gas prices of about $3.75/MMBtu at Henry Hub and about $3.25/MMBtu at the Houston Ship Channel.For PJM, projections include $3.75/MMBtu Henry Hub pricing and about $3.60/MMBtu at Tetco M3.The company's Texas fleet currently includes about 45 terawatt-hours of economic generation and 40 TWh of uneconomic capacity, while PJM comprises about 25 TWh of economic and 15 TWh of uneconomic capacity.Price: $152.24, Change: $-5.19, Percent Change: -3.30%

$NRG

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Commodities55d ago