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Market Chatter: Trump Urges FDA Head to Approve Flavored Vapes

President Donald Trump expressed his displeasure with Food and Drug Administration Commissioner Marty Makary for taking too long to approve flavored vapes and nicotine products, The Wall Street Journal reported Tuesday, citing people familiar with the discussions.In a series of calls over the weekend and on Monday, Trump sought advice from advisers, who told him that Makary has blocked the president's vaping agenda, the report said, citing the people.The White House didn't immediately reply to a request for comment from.(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: $83.80, Change: $+2.14, Percent Change: +2.62%

$BTI$MO$RLX$TPB

Sectors55d ago

Sector Update: Tech

Tech stocks were higher Tuesday afternoon, with the State Street Technology Select Sector SPDR ETF (XLK) rising 2.2% and the State Street SPDR S&P Semiconductor ETF (XSD) climbing 4%.The Philadelphia Semiconductor index popped 4.5%.In corporate news, Pinterest (PINS) shares jumped past 8% after it posted better-than-expected Q1 results and forecast up to 16% revenue growth year over year for the ongoing three-month period.

$PINS

Wire55d ago

American Electric Power CEO Says Speed to Market Key Issue in Load Connection

American Electric Power (AEP) CEO Bill Fehrman said Tuesday that speed to market is the main issue in efficiently connecting energy load to generation.In a Q1 earnings call, Fehrman said that, in particular, the performance and stakeholder approval process of PJM, the US mid-Atlantic grid operator, represents a major challenge."The current state of PJM's performance and stakeholder approval process does not give me great confidence that these issues will be resolved any time soon," Fehrman said on the call."In fact, if something is not done now, I expect we could still be having these same conversations in 10 years," he added.Expanding and strengthening the grid will ensure new generation resources can connect quickly, reliably, and affordably to serve the growing load, the CEO said.Price: $137.27, Change: $+2.61, Percent Change: +1.94%

$AEP

Wire55d ago

MGE Energy Q1 Earnings, Revenue Rise

MGE Energy (MGEE) reported Q1 earnings Tuesday of $1.32 per diluted share, up from $1.14 a year earlier.One analyst polled by FactSet expected $1.13.Revenue for the three months ended March 31 was $242.7 million, up from $219 million a year earlier.Price: $80.48, Change: $+0.36, Percent Change: +0.46%

$MGEE

Research55d ago

Research Alert: CFRA Lowers Rating On Shares Of Pfizer Inc. To Hold From Buy

CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:We lower our target to $28 from $31, 9.4x our 2027 EPS estimate, below PFE's historical forward P/E average. We keep our 2026 EPS view at $2.99 and our 2027 EPS at $2.97. PFE delivered solid top- and bottom-line Q1 results today that exceeded expectations while demonstrating continued progress in its post-Covid transition strategy. While we continue to think that shares are trading at a discount, as the company's main focus in the next year is on AI integration, and a new transformative M&A is not a key priority, we see limited catalysts to drive meaningful upside potential. We think PFE is aiming to maximize value from launched and acquired products with particular focus on key areas: oncology, obesity/metabolic disease, and vaccines. PFE remains committed to maintaining its dividend, continuing productivity initiatives ($7.2B cost savings target), and pursuing targeted business development (with $7B capacity) but we do not expect PFE executing share buybacks to support the share price in the near term.

$PFE

Commodities55d ago

EMEA Natural Gas Update: Dutch Futures Fall as US Signals Easing Iran Tensions

European natural gas futures were mixed on Tuesday, as the Dutch TTF contract fell by more than 2% in after-hours trade, easing tensions in the Middle East after the US signaled it would not retaliate following Monday's Iranian attacks.The front-month Dutch TTF contract was down 2.416% at 46.98 euros ($54.98) per megawatt-hour, while UK NBP futures were up 2.569% at 114.98 British pence ($1.56) as the markets were closed on Monday, due to the Early May Bank Holiday.The Dutch price decline followed comments from US officials who downplayed the risk of renewed conflict with Iran after Monday's incidents in the Strait of Hormuz and missile strikes targeting the UAE. According to Washington, the events did not violate a ceasefire that has held for nearly a month, helping to steady market sentiment.Although prices have climbed about 40% since the onset of the conflict, they have recently moderated as demand from Asia has weakened, Trading Economics said.Since hostilities began in late February, liquefied natural gas shipments from the Persian Gulf have been significantly disrupted, affecting roughly one-fifth of global supply. The supply shock has heightened concerns in Europe, where countries are working to replenish gas storage ahead of the winter season.Gas Infrastructure Europe puts current EU inventories at 33.79% of capacity, significantly below last year at this time when storage levels hit 41.14%.Mind Energy said near-term gas contracts are trading at a premium to winter delivery contracts, reducing the financial incentive for companies to inject gas into storage now.As a result, storage levels remain significantly below historical averages for this time of year. The situation leaves the market exposed to additional risks in the coming months, including potential summer heat waves that could drive up demand and intensified competition from Asian buyers for LNG.

Wire55d ago

Trump Urges FDA Head to Approve Flavored Vapes, The WSJ Reports

$BTI$MO$RLX$TPB

Commodities55d ago

Market Chatter: Portugal Mulls Windfall Tax on Energy Firms as Iran Conflict Drives Up Bills

Portugal will move forward with a proposal to impose a windfall tax on energy companies to mitigate the impact of surging costs for consumers and businesses following the outbreak of war in Iran, Bloomberg reported Tuesday, citing the country's finance minister.Joaquim Miranda Sarmento said the proposed levy on energy profits would be modeled after measures implemented during the 2022 energy crisis."We will take the measures adopted in 2022, fine-tune and improve them, and in the near term, present a proposal to parliament," Sarmento reportedly said.Portugal's Ministry of Finance did not immediately respond to' request for a comment.Portugal is among a group of EU countries, including Germany and Spain, that called for a windfall levy on energy companies' profits in a letter to the European Commission last month.Sarmento said the signatories intend to coordinate their policy responses and invite other member states to join the initiative."We will take the measures adopted in 2022, fine-tune and improve them and - in the near term - present a proposal to parliament," he said.Though the Commission has signaled it will leave the final decision on such measures to individual member states, Portugal and its allies are seeking a framework that aligns national strategies across the bloc.Global energy prices have soared to record highs as the ongoing Middle East crisis has brought shipping via the Strait of Hormuz to a near-standstill, severing critical supply lines for oil and liquefied natural gas.(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.)

Wire55d ago

Update: Anthropic Introduces AI Agents for Financial Services Tasks

(Updates throughout with Anthropic's statement.)Amazon-backed (AMZN) Anthropic said Tuesday it introduced 10 new artificial intelligence agents to support banks, asset managers, and insurers in executing the most time-consuming processes in financial services.These AI agents can draft pitch decks for client meetings, review financial statements, evaluate KYC files, and help with accounting, the company said.Claude is also now available across third-party software like Excel and PowerPoint, and integrates data from partners in the financial services industry via connectors and an MCP app, according to a statement.Price: $273.67, Change: $+1.60, Percent Change: +0.59%

$AMZN

Wire55d ago

Market Chatter: Blackstone, KKR in Talks With Alphabet to Give Portfolio Companies Access to AI Models

Blackstone (BX) and KKR (KKR) are in talks with Alphabet (GOOG, GOOGL) to allow their portfolio companies access to Google's artificial intelligence models, Bloomberg reported Tuesday, citing people familiar with the matter.The talks come after OpenAI and Anthropic announced deals on Monday with alternative asset managers to create AI consultancies that would turn private equity-backed firms into a new revenue stream for AI companies, according to the report.Blackstone and KKR will negotiate omnibus agreements with Google that would give their portfolio companies access to AI models, Bloomberg said, adding that Alphabet would gain access to companies it previously had limited ways to sell to.Blackstone, KKR and Alphabet did not immediately respond to a request for comment by.(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: $123.61, Change: $+0.52, Percent Change: +0.42%

$BX$GOOG$GOOGL$KKR

Wire55d ago

Truist Securities Adjusts Price Target on Essential Properties Realty Trust to $35 From $37, Maintains Buy Rating

Essential Properties Realty Trust (EPRT) has an average rating of buy and mean price target of $37.27, 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: $31.06, Change: $+0.04, Percent Change: +0.13%

$EPRT

Wire55d ago

Wedbush Lifts Viridian Therapeutics Price Target to $32 From $31, Maintains Outperform Rating

Viridian Therapeutics (VRDN) has an average rating of Buy and mean price target of $33.75, 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: $18.75, Change: $+4.69, Percent Change: +33.36%

$VRDN

Japan55d ago

US Equity Indexes Advance, Crude Oil Drops as Hegseth Confirms Iran Ceasefire Deal Intact

US equity indexes rose in midday trading on Tuesday as crude oil futures slumped after Defense Secretary Pete Hegseth said the ceasefire agreement with Iran remains in force.The Nasdaq Composite traded 0.9% higher at 25,295.1, after touching a record 25,335.40 intraday. The S&P 500 climbed 0.7% to 7,252.3, and the Dow Jones Industrial Average advanced 0.5% to 49,187.7.Defense Secretary Pete Hegseth, speaking at a Tuesday morning press conference, said the Iran ceasefire remains in effect while promising to continue to press ahead with opening the Strait of Hormuz, the chokepoint for about a fifth of global crude oil flows.At the Pentagon press briefing, Gen. Dan Caine, chairman of the Joint Chiefs of Staff, said Iran's military actions didn't rise to the level of restarting the war, according to The Wall Street Journal. "No adversary should mistake our current restraint for a lack of resolve."The statements follow Tehran's strikes in the Strait of Hormuz and the United Arab Emirates on Monday, fueling concern that the Iran ceasefire was at risk of falling apart. Earlier this month, President Donald Trump told congressional leaders that "hostilities" with Iran have "terminated," addressing a critical 60-day deadline under a decades-old law meant to limit the use of military force without authorization from Congress, CBS News reported.West Texas Intermediate crude oil futures dropped 4% to $102.18, and Brent crude futures slumped 3.1% to $110.92.

Dow JonesNasdaq CompositeS&P 500

Wire55d ago

Evercore ISI Adjusts Welltower Price Target to $233 From $225, Maintains Outperform Rating

Welltower (WELL) has an average rating of buy and mean price target of $234.16, according to analysts polled by FactSet.Price: $214.87, Change: $-2.27, Percent Change: -1.05%

$WELL

Equities55d ago

SEC Issues Proposal That Would Allow Public Companies to Report Semiannually

The US Securities and Exchange Commission on Tuesday said it proposed rule and form amendments that would permit public companies to file semiannual reports in lieu of quarterly reports to meet their reporting obligations.Under the proposal, the filing deadline for semiannual reports would be 40 to 45 days, depending on the company's filer status, after the end of the first semiannual period of the fiscal year, the SEC said. The proposal will be published in the Federal Register, and the public comment period will remain open until 60 days after its publication, the agency said.

US Markets55d ago

Coinbase to Cut 14% of Workforce in AI-Driven Restructuring

Coinbase Global (COIN) is reducing its global workforce by 14%, citing the need to cut costs amid market volatility and how artificial intelligence has optimized its operations.The planned restructuring will affect about 700 employees, with the execution expected to be substantially complete in the second quarter, the cryptocurrency exchange said Tuesday in a filing with the US Securities and Exchange Commission.Coinbase is "well-capitalized" and has diversified revenue streams, Chief Executive Brian Armstrong said in a memo to employees that was shared on social media platform X. "Crypto is also on the verge of the next wave of adoption, with stablecoins, prediction markets, tokenization, and more taking off."However, the company's business is still volatile from quarter to quarter, Armstrong said."While we've managed through that cyclicality many times before and come out stronger on the other side, we're currently in a down market and need to adjust our cost structure now so that we emerge from this period leaner, faster, and more efficient for our next phase of growth," he said.The CEO also spoke about how AI has helped speed up Coinbase's operations in recent months."Over the past year, I've watched engineers use AI to ship in days what used to take a team weeks," he said. "The pace of what's possible with a small, focused team has changed dramatically, and it's accelerating every day."Coinbase projects roughly $50 million to $60 million in restructuring expenses, mainly related to employee severance and other termination benefits and which will be recognized substantially in the ongoing quarter, the filing showed.The company's shares were down 3.8% in Tuesday afternoon trade, bringing its year-to-date losses to roughly 14%."AI is bringing a profound shift in how companies operate, and we're reshaping Coinbase to lead in this new era," Armstrong said. "This is a new way of working, and we need to leverage AI across every facet of our jobs."Coinbase is scheduled to report first-quarter financial results Thursday.Price: $197.31, Change: $-5.68, Percent Change: -2.80%

$COIN

Treasury55d ago

UBS Previews This Week's Labor Market Report in Canada

UBS said it expects the April Labour Force Survey (LFS) data to be released on Friday to reinforce the same themes it has seen in the Canadian jobs market since the turn of the year.Slowing population growth and declining labor force participation have left the unemployment rate relatively stable despite a slowing in the pace of employment growth, the bank wrote in a note to clients.UBS estimates employment to rise 5,000, with risks skewed lower due to a shift in the seasonal factors and little reason to think the banm sees a significantly stronger non-seasonally adjusted flow this year versus last.The bank estimates the unemployment rate will remains at 6.7% on a rounded basis but could move down a couple of basis points unrounded. In March, the unemployment rate was 6.714% to three decimals, exactly the same as the rate in February.UBS projects that average weekly wages for permanent workers rose 0.23% over the month, moving the year-over-year rate down to 4.8% from 5.1%. For all workers, the bank expects a monthly gain of around 0.14%, with that, the annual rate would move a tenth lower to 4.6%.

$CXY

Mining & Metals55d ago

Lithium Ionic Extends Date of Response to Waratah Requisition to May 20

Lithium Ionic (LTH.V) on Tuesday said it agreed with Waratah Capital Advisors to extend the deadline to decide on Waratah request to hold a special shareholder meeting to May 20 from April 13.Waratah requested, Lithium Ionic's board to call a special meeting of shareholders to remove Helio Diniz, David Gower and Lawrence Guy as directors of the company, and to vote on the election of directors to fill the vacancies created. Diniz, Gower and Guy resigned from the board on April 20.The company's board intends to engage with Waratah and with other shareholders in connection with filling open positions on the board, it said.Shares of the company were last seen up $0.02 to $1.03 on the TSX Venture Exchange.Price: $1.03, Change: $+0.01, Percent Change: +1.49%

$LTH.V

Equities55d ago

SEC Issues Proposal That Would Allow Public Companies to Report Semiannually

Research55d ago

Research Alert: CFRA Maintains Hold Opinion On Shares Of Posco Holdings

CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:We raise our target price to USD94 from USD70, valuing POSCO at 0.66x 2026 P/BV, above its three-year mean of 0.52x. Our neutral view reflects: (i) recovering steel fundamentals supported by China's 2025 crude steel output declining 4.4% Y/Y and South Korea's anti-dumping duties on Chinese steel, which provides a pricing moat for Posco; and (ii) lithium market recovery with prices surging 49% YTD through April, supporting POSCO's battery materials segment which narrowed Q1 2026 losses significantly. POSCO's Australian and Argentine lithium acquisitions bolster its battery materials growth strategy. Additionally, the new Mid-term Shareholder Return Policy (2026-2028) targeting a 35%-40% payout ratio demonstrates commitment to shareholder value. However, risks include an aggressive 61% capex increase to KRW11.3 trillion in 2026, execution challenges on international projects, and persistent margin pressures. We adjust our 2026 EPS estimate to KRW6,379 from KRW5,932 and 2027 to KRW8,036 from KRW7,820.

$PKX

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US Markets55d ago

Coinbase to Cut 14% of Workforce in AI-Driven Restructuring

$COIN