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US Active Rig Count Rises by 3, Baker Hughes Says

The combined count of crude oil, natural gas, and miscellaneous rigs in the US rose by three to 547 in the week ending May 1, according to data from Baker Hughes (BKR) released Friday.The US oil rig count rose by one from 407 the previous week to 408, while the number of gas rigs increased by one from 129 the previous week to 130.Price: $69.27, Change: $-0.41, Percent Change: -0.58%

$BKR

Research55d ago

Research Alert: CFRA Lowers View On Shares Of Air Products And Chemicals 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 lift our 12-month target by $8 to $316, or 22.0x our FY 27 (Sep.) EPS estimate, in line with APD's three-year average forward P/E of 21.7x. We raise our FY 26 EPS estimates by $0.13 to $13.31 and FY 27's by $0.36 to $14.36. Following impressive FQ2 results (EPS +19% Y/Y), management raised FY 26 guidance reflecting confidence in the base business, though remained cautious on macro uncertainty. The company is pivoting toward higher-return traditional industrial gas projects, particularly in electronics and aerospace, while capital discipline remains paramount, with FY 26 capex expected down $1B to $4B. The electronics super-cycle presents significant opportunity, with helium volumes to Asian electronics customers expected to more than double by 2030. APD's helium supply chain has proven resilient despite Middle East disruptions, drawing on its Texas storage cavern. The downgrade reflects valuation more than fundamental concerns, as we see limited upside at current valuations given large project uncertainty.

$APD

Research55d ago

Research Alert: CFRA Keeps Hold Opinion On Shares Of Equinix, Inc.

CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:We increase our target price by $125 to $1,175 on a forward P/FFO of 36.1x, reflecting global market growth opportunities for data centers, accelerating AI related demand, and EQIX's interconnection strengths. We increase our 2026 FFO estimate by $1.40 to $32.25 and increase 2027 by $2.82 to $35.63. AI driven demand continues to beat expectations with EQIX continuing to see strong demand from the largest AI model providers. Interconnection revenue growth acceleration is noteworthy at 13.5% Y/Y vs. 6.8% growth in Q1 2025. We continue to monitor power constraint headwinds with management noting that the availability of power is the largest restraint in their environment, most impacting highly dense deployments. Management is optimistic as tenant conversations a year ago centered around piloting AI while now its all about enterprise-wide adoption at scale signifying how quickly AI tools have become a part of the daily toolkit for knowledge-based employees.

$EQIX

Wire55d ago

ADT Positioned to Achieve 20% FCF Growth in 2026, RBC Capital Markets Says

ADT's (ADT) solid Q1 free cash flow growth on higher upfront installation revenue instills confidence in achieving over 20% FCF growth in 2026, RBC Capital Markets said in a research report emailed Friday.The ADT+ Platform, combined with the Origin AI acquisition, bolsters competitive positioning and provides differentiated value supporting pricing power, while service excellence enhances client experience and drives operational cost efficiencies, positioning the company for growth and margin expansion, analysts wrote.The company is also implementing artificial intelligence for churn propensity modeling and lead qualification, with outbound sales primarily handled by AI. The AI-driven churn propensity modeling will facilitate the identification and retention of at-risk clients, according to the note.ADT's expansion into do-it-yourself and ecommerce channels through ADT Blue offers a market opportunity to capture value-conscious clients while expanding its addressable market, the firm said. By treating DIY clients as entry points into the ADT+ ecosystem, the company can drive subscriber additions, expected to boost long-term earnings, according to the note.The brokerage said it reiterated its sector perform rating on the stock and price target of $9 per share.Price: $7.55, Change: $+0.01, Percent Change: +0.20%

$ADT

Commodities55d ago

US Active Rig Count Rises by 3, Baker Hughes (BKR) Says

$BKR

Sectors55d ago

Sector Update: Tech

Tech stocks were higher Friday afternoon, with the State Street Technology Select Sector SPDR ETF (XLK) rising 1.5% and the State Street SPDR S&P Semiconductor ETF (XSD) adding 1%.The Philadelphia Semiconductor index increased 0.6%.In corporate news, Apple (AAPL) jumped past 4% after the company overnight reported a year-over-year surge in fiscal Q2 earnings and revenue. Apple's board also raised its quarterly dividend and approved an additional share buyback program of up to $100 billion.

$AAPL

Commodities55d ago

EMEA Natural Gas Update: Futures Slip as Iran Sends Fresh Proposal to Washington

European natural gas futures traded lower after-hours on Friday after Iranian state media reported that Tehran had sent another proposal for negotiations with the US via Pakistani diplomatic channels, a development seen as potentially paving the way for renewed transit through the Strait of Hormuz.The front-month Dutch TTF contract fell 1.211% to 45.43 euros ($53.36) per megawatt-hour, while the UK NBP contract slipped 1.533% to 111.15 British pence ($1.51) per therm.US President Donald Trump, speaking to reporters at the White House on Friday, said, "Iran wants to make a deal, but I'm not satisfied with it," CNBC reported.Market participants continue to weigh geopolitical risk against relatively stable European supply conditions and weaker demand elsewhere. In a Thursday note, S&P Global analysts said Europe has benefited from "significant demand destruction elsewhere," noting that although the war has effectively removed about 20% of global LNG supply, European imports have remained broadly steady.The note said Asia has absorbed much of the demand adjustment. It said China recorded a 19% year-on-year drop in LNG imports in March, according to government data.Benchmark LNG prices remain elevated, but off recent highs, they said. The JKM benchmark for Northeast Asia put prices at $18.309/MMBtu on April 30, up 8.3% on the day. The DES Northwest Europe LNG marker was assessed at $15.719 per MMBtu on Apr. 29, up 7.9% day-on-day.The analysts said both benchmarks remain above pre-conflict levels but have retreated from peaks seen in the early weeks of the disruption.European storage levels remain below last year's levels. Gas Infrastructure Europe reported inventories at 32.49% as of Friday, compared with 39.22% a year earlier.CERA analysts project EU storage could reach about 80% by the end of October under a base-case scenario, assuming a resumption of steady Hormuz transit by Jun. 1.EU LNG imports rose slightly year over year in March, supported by cargoes already en route when the conflict began in late February, according to CERA data. However, that buffer has since faded, with April imports down roughly 6.9% from 2025 levels.Looking ahead, Severe Weather Europe said Friday it is monitoring the potential development of a "super El Nino" pattern. One scenario that could develop would be an increase in the risk of dry conditions and drought across Central Europe this summer.

Wire55d ago

Nebius to Acquire Eigen AI in $643 Million Cash-And-Stock Deal

Nebius Group (NBIS) said Friday it has agreed to acquire inference and model optimization firm, Eigen AI, in a cash-and-stock deal valued at about $643 million.The acquisition will strengthen Nebius Token Factory as a frontier managed inference platform for production AI, the company said, adding that the deal also accelerates its expansion in the US.The transaction is expected to close in the coming weeks, it said.Nebius shares were up over 10% in afternoon trading.Price: $152.93, Change: $+14.70, Percent Change: +10.63%

$NBIS

Wire55d ago

Paychex Raises Quarterly Dividend to $1.19 a Share From $1.08, Payable May 29 to Shareholders of Record as of May 13

$PAYX

Wire55d ago

Revolution Medicines Gets FDA Expanded Access Permit for Experimental Pancreatic Cancer Drug

Revolution Medicines (RVMD) received a "safe to proceed" letter from the US Food and Drug Administration, allowing to the company to initiate an expanded access treatment protocol for its experimental pancreatic cancer drug, daraxonrasib, the FDA said Friday.The expanded access is for patients with previously treated metastatic pancreatic ductal adenocarcinoma, the federal agency said.Shares of the company were down 2.3% in Friday trading.Price: $140.89, Change: $-3.24, Percent Change: -2.24%

$RVMD

Wire55d ago

Advanced Micro Devices Seen Posting Q1 Beat, But Upside Limited by Supply Constraints, RBC Says

Advanced Micro Devices (AMD) is expected to post a beat in its Q1 results, though upside may be limited by tight wafer supply and relatively lower central processing unit exposure compared with Intel (INTC), RBC Capital Markets said in a note emailed Friday.AMD is scheduled to report its Q1 results after the market closes on May 5.The brokerage also expects Q2 revenue and EPS guidance to come in above expectations by the same magnitude of 4% to 6% beat estimated for Q1.RBC said demand for CPUs remains strong, with average selling prices driving growth, though "wafer supply tightness is a limiting factor as AMD's lead times appear to have extended beyond 4-6 weeks."RBC maintained a sector perform rating and raised its price target to $325 from $230, citing recent peer multiple expansion.Price: $357.50, Change: $+3.01, Percent Change: +0.85%

$AMD$INTC

Mining & Metals55d ago

Methanex Maintained at Neutral at CIBC Following Q1 Results; Price Target Raised to US$69.00

CIBC Capital Markets reiterated its neutral rating on the shares of Methanex (MX.TO, MEOH) while raising its price target to US$69.00 from US$66.00 after the methanol producer reported its first-quarter results."We maintain our Neutral rating on Methanex, while raising our price target to $69 (from $66) on a 0.25x increase in our EV/EBITDA valuation multiple (now 7.0x 2027E), reflecting an improved methanol pricing backdrop that should support accelerated deleveraging (1.8x by year-end vs. 4.2x in Q1/26). While we expect eventual normalization of commodity prices, with the Middle East accounting for ~20% of global methanol production (10% Iran and 10% other Middle East), in the case that prolonged supply disruptions persist, we model an upside scenario of $83 for Methanex," analyst Hamir Patel 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: $86.05, Change: $-2.83, Percent Change: -3.18%

$MEOH$MX.TO

Wire55d ago

Roblox Slows in Q1 as Facial Age Checks Weigh on New-User Growth, Wedbush Says

Roblox (RBLX) reset near-term expectations after lowering its 2026 guidance, with the rollout of mandatory facial age checks slowing new-user sign-ups and contributing to Q1 deceleration, Wedbush Securities said Friday in a report.The company's per-user economics, retention, and engagement intensity remain healthy, and the slowdown is concentrated at the user-acquisition stage rather than within the experiences themselves, the report said.Roblox's core revenue drivers, including developer payouts, advertising partnerships, and in-experience subscriptions, remain intact, the report said.Wedbush outlines a recovery path tied to getting its messaging and social features back to normal, improving app-store ratings, and bringing more 18-plus users onto the platform in H2.Wedbush slashed its price target on Roblox stock to $65 from $90 and maintained its outperform rating.Price: $45.60, Change: $-9.66, Percent Change: -17.48%

$RBLX

US Markets55d ago

April Manufacturing Activity Grows as Price Pressures Intensify Amid War Disruptions, ISM, S&P Surveys Show

The US manufacturing sector saw continued growth in April, though inflationary pressures intensified amid disruptions caused by the Middle East conflict, two surveys showed Friday.The Institute for Supply Management's purchasing managers' index remained unchanged sequentially at 52.7 last month. The consensus was for a 53.2 reading in a survey compiled by Bloomberg. A reading above 50 indicates the manufacturing sector is generally expanding."The April ISM report suggests the US manufacturing sector's recent rebound may be leveling off, underlining a still-fragile expansion," TD Economics Senior Economist Vikram Rai said in a note. "Stable headline PMI and a diminished production index highlight cooling momentum, even as new orders growth persists."The new orders index increased to 54.1 from 53.5 sequentially in April, while production dropped to 53.4 from 55.1. The employment measure retreated to 46.4 from 48.7, remaining in contraction for the 31st consecutive month. The prices gauge jumped to 84.6 from 78.3, marking its highest reading since April 2022 and rising about 26 percentage points in the past three months, the ISM survey showed."The prices-paid index's steep climb to multiyear highs -- alongside the conspicuous slowdown in supplier deliveries -- signals mounting supply-chain stress and inflationary pressures driven by surging energy prices and war-related disruptions," Rai said. "These resurgent price pressures are keeping the Federal Reserve on alert, supporting expectations that any additional monetary policy easing is unlikely in the near term."Earlier in the week, the Fed kept its benchmark lending rate steady for a third straight meeting, saying the Middle East conflict is fueling uncertainty around the US economic outlook.Separately, S&P Global (SPGI) said Friday its manufacturing PMI advanced to 54.5 last month from 52.3 in March, representing the "strongest" expansion in the manufacturing economy since May 2022. However, input and output prices increased at accelerated rates, with inflation in each component "the steepest" for 10 months, the data provider said."A key driving force behind the upturn is the need for companies to get ahead of further feared price rises and supply shortages, providing a short-term boost that could fade in the coming months as headwinds to the economy continue to build," S&P Global Market Intelligence Chief Business Economist Chris Williamson said."Growth of purchasing activity hit a rate not seen for four years, since the pandemic, amid increasingly widespread supply delays and price rises commonly linked to the war in the Middle East, which has exacerbated existing pressure on supply and inflation from tariffs," Williamson said.Energy prices have surged as the US-Israel war with Iran has curtailed shipments through the crucial Strait of Hormuz. The war, which started at the end of February, paused following a recent ceasefire between Washington and Tehran, but a framework for a permanent truce is yet to be reached.Price: $430.74, Change: $-0.50, Percent Change: -0.11%

$SPGI

Commodities55d ago

Northland Power Signs 30-Year Deal With TSMC for 1,022 MW Hai Long Wind Project

Northland Power signed a 30-year power deal with Taiwan Semiconductor Manufacturing Company for its 1,022 megawatt Hai Long offshore wind project, the company said Thursday.Northland Power entered a long-term corporate power purchase agreement with Taiwan Semiconductor Manufacturing Company for additional output from the Hai Long offshore wind project in Taiwan, the company said.The project combines three sites totaling 1,022 MW, including Hai Long 2A at 294 MW, Hai Long 2B at 224 MW, and Hai Long 3 at 504 MW, located 45 to 70 kilometers offshore.Northland holds a 30.6% stake in the project alongside Mitsui & Co. at 40% and Gentari International Renewables at 29.4%, the company said.The new 30-year agreement extends Northland Power's partnership with Taiwan Semiconductor Manufacturing Company, which began in 2022 and already includes power supply from the Hai Long 2B and Hai Long 3 facilities, the company said.Northland will shift Hai Long 2A into the new agreement after completing administrative steps in 2026, allowing TSMC to purchase 100% of the project's total electricity output, it said.Christine Healy, President and Chief Executive Officer of Northland Power, said the agreement "reinforces the strategic importance of Hai Long" and will enhance long-term economics and shareholder value once the transition is complete.

US Markets55d ago

Fed Dissenters Say Macro Uncertainty Didn't Warrant Easing Bias Inclusion

Three Federal Reserve officials who wanted language changes in the April monetary policy statement said Friday that risks to inflation and employment didn't warrant an inclusion of the so-called easing bias.The Federal Open Market Committee kept its benchmark lending rate steady on Wednesday, saying the Middle East conflict is fueling uncertainty around the US economic outlook."In considering the extent and timing of additional adjustments to the target range for the federal funds rate, the committee will carefully assess incoming data, the evolving outlook, and the balance of risks," the FOMC said Wednesday.That language is widely interpreted to indicate a bias toward future rate cuts.Regional presidents Beth Hammack of Cleveland, Neel Kashkari of Minneapolis and Lorie Logan of Dallas supported the policy decision, but opposed including an easing bias in the statement. Fed Governor Stephen Miran favored an interest rate reduction. The ratio of dissents reached the highest since 1992, Stifel said Thursday.Hammack said in a statement that the easing bias is no longer appropriate as "uncertainty around the economic outlook is elevated, with upside risks to inflation and downside risks to growth and employment."Kashkari separately said that financial markets seem to assume a "fairly quick" reopening of the Strait of Hormuz. Even in such a scenario, forecasters expect core personal consumption expenditures inflation to reach 3% this year, compared to an expectation of 2.7% as of January, he said.That would put downward pressure on consumer spending and potentially pressure the US labor market, Kashkari said.An extended closure of the Strait of Hormuz could drive a larger price shock, driving up both inflation and unemployment in the US, Kashkari said."Given the uncertainty about the path of the conflict and the resulting effects on inflation, employment and economic growth, I believe the FOMC should offer a policy outlook that signals that the next rate change could be either a cut or a hike, depending on how the economy evolves," Kashkari said.Logan said she is "increasingly concerned" about about how long it will take before inflation hits the official 2% target. "The conflict in the Middle East raises the prospect of prolonged or repeated supply disruptions that could create further inflationary pressures," Logan said.The labor market, which has been stable, could strengthen or weaken due to a range of factors, she added."In light of the two-sided risks to monetary policy, I believed the FOMC should not give forward guidance implying a bias toward rate cuts at this time," she said.

Wire55d ago

Susquehanna Adjusts ConocoPhillips Price Target to $152 From $149

ConocoPhillips (COP) has an average rating of overweight and mean price target of $141.30, 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: $123.54, Change: $-2.24, Percent Change: -1.78%

$COP

Wire55d ago

Atlassian Q3 Results Add Confidence to Strategy, Oppenheimer Says

Atlassian (TEAM) posted "solid" Q3 results, with Cloud and Data Center revenue growth beating expectations, backing confidence in its strategy, Oppenheimer said in a Thursday report.The results also showed its ability to monetize customer AI usage and address AI displacement concerns, the note said."Even with strong after-hours performance, we find the valuation compelling and believe the bear narrative could be difficult to sustain if execution continues," the report said."We urge patience and remain bullish," Oppenheimer said, keeping its outperform rating and $100 price target.Price: $84.92, Change: $+16.33, Percent Change: +23.81%

$TEAM

Wire55d ago

Morgan Stanley Adjusts Price Target on Royal Caribbean Group to $310 From $330

Royal Caribbean Group (RCL) has an average rating of overweight and mean price target of $346.57, 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: $269.19, Change: $+5.43, Percent Change: +2.06%

$RCL

Wire55d ago

Morgan Stanley Adjusts Price Target on Brown & Brown to $65 From $70

Brown & Brown (BRO) has an average rating of hold and mean price target of $74.93, 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: $59.18, Change: $-0.98, Percent Change: -1.62%

$BRO

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US Markets55d ago

April Manufacturing Activity Grows as Price Pressures Intensify Amid War Disruptions, ISM, S&P Surveys Show

$SPGI