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Research Alert: Cvx: A Q1 Beat Amid Middle East Turmoil

CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:CVX delivered a sizable Q1 earnings beat with adjusted EPS of $1.41 vs. consensus, though down from $2.18 Y/Y due to mark-to-market derivative losses worth $0.73 per share, in our estimation. Upstream production rose 15% Y/Y to 3.86M boe/d, largely from the Hess acquisition, but fell 4.6% sequentially due to Middle East disruptions. We believe CVX's derivative losses will unwind in coming periods, and the company outperformed chief rival XOM on international production declines (-7.8% vs. -13%). CVX maintained 2026 capex guidance of $18B-$19B. The company returned $6.0B to shareholders in Q1 ($3.5B dividends, $2.5B buybacks) versus $4.1B in oil and gas development. At the midpoint of CVX's capex guide, we estimate a 44% reinvestment rate, comparable to XOM's estimated 43%. We expect CVX's relatively better international exposure and Hess synergies to support production growth, while disciplined capital allocation continues prioritizing shareholder returns over aggressive expansion.

$CVX

Sectors55d ago

Sector Update: Energy Stocks Lean Lower Premarket Friday

Energy stocks were leaning lower premarket Friday, with the State Street Energy Select Sector SPDR ETF (XLE) declining by 0.3%.The United States Oil Fund (USO) was down 2.1% and the United States Natural Gas Fund (UNG) was 1.1% higher.Front-month US West Texas Intermediate crude oil was 1.3% lower at $103.71 per barrel at the New York Mercantile Exchange. Global benchmark North Sea Brent crude oil rose 0.3% to $110.77 per barrel, and natural gas futures were up 0.4% at $2.56 per 1 million British Thermal Units.Exxon Mobil (XOM) shares were down 0.7% after the company reported a decline in Q1 adjusted earnings.Chevron (CVX) stock was 0.8% lower after the company posted a decline in Q1 adjusted earnings, while revenue missed analysts' estimates.Imperial Oil (IMO) shares were down more than 2% after the company reported lower Q1 net income and revenue.

$CVX$IMO$UNG$USO$XLE$XOM

Sectors55d ago

Sector Update: Consumer Stocks Mixed Premarket Friday

Consumer stocks were mixed premarket Friday, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) 0.4% higher and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) down 0.1%.Colgate-Palmolive (CL) stock was up more than 2% after the company posted higher Q1 non-GAAP earnings and net sales.Estee Lauder (EL) shares were up more than 11% after the company reported higher fiscal Q3 adjusted earnings and net sales, and raised its outlook for fiscal 2026 adjusted earnings per share.Church & Dwight (CHD) stock was up more than 2% after the company reported Q1 adjusted earnings and net sales that topped analysts' expectations, with adjusted EPS increasing year over year.

$CHD$CL$EL$XLP$XLY

Sectors55d ago

Gold Edges Down Early, Remaining Rangebound, As Treasury Yields Rise

Gold edged lower early Friday, albeit it remained rangebound, even with a weakening dollar as treasury yields rose while traders turn to bonds and also while the Iran War pushes up oil prices and boosts inflation and threatens higher interest rates.Gold for June delivery was last seen down $20.20 to US$4,609.40 per ounce.The precious metal has traded within a narrow range over the past month as the Iran war remains deadlocked. Against this backdrop, U.S. data on Thursday showed the Federal Reserve's preferred inflation measure rose by 3.5% annualized in March, up from a 2.8% pace in February.While the Fed's policy committee declined to raise interest rates at the Wednesday end to its two-day policy committee, it issued a hawkish outlook, with rates likely to rise to combat higher prices, keeping gold, which offers no interest, in check."Gold ended April little changed despite a late oil-driven wobble sparked by inflation and rate-hike concerns," Saxo Bank noted.The dollar fell early, with the ICE dollar index last seen down 0.14 points to 97.92, the lowest since the start of the war on Iran. Treasury yields rose, with the yield on the U.S. two-year note last seen up 2.7 basis points to 3.9%, while the 10-year note last seen paying 4.393%, up 1.8 points.

$GCM6$GLD

Commodities55d ago

Exxon Q1 Hydrocarbons Output Rises YoY Despite Middle East Disruptions

Exxon Mobil (XOM) Friday reported a year-over-year increase in its Q1 oil and gas production, as higher output from the Americas more than offset supply disruptions in the Middle East.For the quarter ended March 31, the upstream segment's oil and gas output stood at 4.59 million barrels of oil equivalent per day, a rise from the previous year's 4.55 mboe/d but a decline from the prior quarter's 4.99 mboe/d.Net production of crude oil, natural gas liquids, bitumen, and synthetic oil was up year over year to 3.3 million barrels per day from 3.1 mmbbls/d, as higher output from the US, Canada and other American regions offset declines in Asia. Q1 output, however, was down versus the previous quarter's 3.5 mmbbls/d.Net natural gas production came in lower at 7.8 million cubic feet per day, relative to year-ago levels of 8.5 mcf/d, largely due to lower Asian output. Q1 production was also down versus Q4's 8.7 mcf/d.During the period, the company noted that Guyana achieved a record quarterly production of more than 900,000 gross barrels of oil per day, but the Middle East conflict negatively impacted overall output levels.Golden Pass LNG, a joint venture between QatarEnergy and ExxonMobil, achieved first production from Train 1 at the end of March, Exxon said, resulting in a 5% year-over-year increase in US exports.The company posted a decline in Q1 refinery throughput, primarily due to reduced processing in Europe and Asia. Throughput totaled 3.5 mmbbls/d in Q1, compared with 3.8 mmbls/d a year ago and 4.1 mmbbls/d a quarter earlier.Nonetheless, energy product sales grew year over year to 5.6 mmbbls/d from 5.3 mmbbls/d, as higher US sales more than offset a drop in non-US volumes. Except for heating oils, kerosene, and diesel, all other energy products logged corresponding sale increases.Q1 sales, however, were lower than Q4's 5.8 mmbbls/d, due to scheduled maintenance and Middle East disruptions, the company said.Chemical product sales totaled 5.4 million tons in Q1, up versus 4.8 mmt a year earlier, but down compared with the previous quarter's 5.7 mmt.Special product sales also grew to 1.98 mmt in Q1, versus 1.94 mmt in the prior year and 1.92 in the previous quarter, with high-value products achieving a record sales volume, according to the report.

$XOM

Sectors55d ago

Sector Update: Financial Stocks Rise Premarket Friday

Financial stocks were rising premarket Friday, with the State Street Financial Select Sector SPDR ETF (XLF) advancing by 0.4%.The Direxion Daily Financial Bull 3X Shares (FAS) was 1.1% higher and its bearish counterpart Direxion Daily Financial Bear 3X Shares (FAZ) was down 1.1%.Aon (AON) shares were up more than 2% after the company reported higher Q1 adjusted earnings and revenue.Ares Management (ARES) stock was up more than 2% after the company posted higher Q1 earnings and revenue.Cboe Global Markets (CBOE) shares were up more than 5% after the company posted higher Q1 adjusted earnings and revenue.

$AON$ARES$CBOE$FAS$FAZ$XLF

Research55d ago

Research Alert: Imo Q1: Earnings Fall On Weak Differentials, Fx Woes, Flat Upstream Output

CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:IMO Q1 net income declined 27% to CAD940M (CAD1.94/share) from CAD1,288M (CAD2.52/share) in the prior year, with revenues down 1% to CAD12.4B. The earnings decline was due to weaker commodity price realizations, wider WTI/WCS differential (CAD14.34 vs CAD12.59), and flat upstream production at 419k bpd, partially offset by improved downstream margins. Multiple operational hiccups including unplanned coker downtime at Syncrude and natural gas supply outages translated into significantly depressed cash flows that likely won't be well received by the market. The company increased its dividend 20% to CAD0.72/share and plans to renew its share buyback program in June 2026. FCF declined sharply to CAD306M from CAD1,150M as capex increased 20% to CAD478M. We note the balance sheet remains best in class, however pricing realizations and upstream production combined for a lackluster showing during a period that could have been greatly advantageous.

$IMO

Sectors55d ago

Sector Update: Health Care Stocks Advance Pre-Bell Friday

Health care stocks were advancing pre-bell Friday, with the State Street Health Care Select Sector SPDR ETF (XLV) 0.2% higher and the iShares Biotechnology ETF (IBB) up 0.2%.Novo Nordisk (NVO) shares were up more than 2% after the company said it has rebranded its oral semaglutide medication for type 2 diabetes, formerly known as Rybelsus, as Ozempic.Veeva Systems (VEEV) is set to join the S&P 500 on May 7, to replace Coterra Energy (CTRA), S&P Dow Jones Indices said. Shares of Veeva Systems were up more than 11% premarket.Moderna (MRNA) stock was up more than 2% after the company reported a narrower-than-expected Q1 net loss.

$CTRA$IBB$MRNA$NVO$VEEV$XLV

Mining & Metals55d ago

Nasdaq-listed Datavault AI Buying CyberCatch Holdings in C$136.8 Million Deal

Cybersecurity company CyberCatch Holdings (CYBE.V) entered into a binding letter of intent that will see Nasdaq-listed Datavault AI buy it in a deal valued at C$136.8 million, the company said Friday.Under the terms, Datavault AI will acquire 100% of CyberCatch's issued and outstanding common shares in exchange for about 49.9 million newly issued shares of Datavault AI common stock at C$5.11 per CyberCatch share.All issued and outstanding CyberCatch securities convertible into or exercisable for CyberCatch common shares will be exchanged for Datavault AI shares at a deemed value of US$2.00 per Datavault AI share.Upon closing, Datavault AI stockholders will hold approximately 92.48% of Datavault AI while CyberCatch shareholders will hold 7.52%, on a non-fully diluted basis.CyberCatch is expected to operate as a subsidiary of Datavault AI. CyberCatch founder, Chairman, and Chief Executive Officer Sai Huda will serve as president of the subsidiary, reporting to Nathaniel Bradley, CEO of Datavault AI.The deal is expected to position Datavault AI to bring CyberCatch's AI-enabled cyber risk mitigation solution into Datavault AI's SanQtum-secured edge Graphics Processing Unit ecosystem. This would address a global information security market projected to reach US$240 billion in 2026, the companies said.

$CYBE.V$DVLT

Equities55d ago

Occidental Petroleum Names Richard Jackson CEO, President

Occidental Petroleum (OXY) said Friday its board has appointed Chief Operating Officer Richard Jackson to succeed Vicki Hollub as president and chief executive officer, starting June 1.Hollub will retire on that date but will remain on the company's board of directors, the company said.

$OXY

Sectors55d ago

Sector Update: Tech Stocks Mixed Pre-Bell Friday

Technology stocks were mixed pre-bell Friday, with the State Street Technology Select Sector SPDR Fund (XLK) up 0.3% and the State Street SPDR S&P Semiconductor ETF (XSD) 0.4% lower.Apple (AAPL) shares were up more than 3% after the company posted higher fiscal Q2 earnings and revenue. Apple also raised its quarterly dividend and approved a $100 billion share buyback program.Reddit (RDDT) stock was up more than 13% after the company reported a surge in Q1 earnings and revenue, and issued Q2 revenue outlook above analysts' expectations.Amkor Technology (AMKR) stock was 0.7% lower after the company priced a $1 billion private offering of 0% convertible senior notes due 2031.

$AAPL$AMKR$RDDT$XLK$XSD

Equities55d ago

Sector Update: Energy

Energy stocks were leaning lower premarket Friday, with the State Street Energy Select Sector SPDR ETF (XLE) declining by 0.2%.The United States Oil Fund (USO) was down 1.3% and the United States Natural Gas Fund (UNG) was 1.2% higher.Front-month US West Texas Intermediate crude oil was 1.4% lower at $103.59 per barrel at the New York Mercantile Exchange. Global benchmark North Sea Brent crude oil rose 0.2% to $110.60 per barrel, and natural gas futures were up 0.9% at $2.79 per 1 million British Thermal Units.Exxon Mobil (XOM) shares were down 0.3% after the company reported a decline in Q1 adjusted earnings.

$XOM

Oil & Energy55d ago

Chevron Reports Record US Output Amid Middle East Supply Disruptions

Chevron (CVX) reported a surge in production for the first quarter of 2026 on Friday even as geopolitical tensions in the Middle East begin to weigh on international operations.The company's US production exceeded 2 million oil-equivalent barrels per day for the third consecutive quarter.The year-over-year production increase was largely attributed to the integration of Hess Corporation and continued momentum in the Permian Basin and the Gulf of Mexico.These gains helped offset significant operational headwinds, including downtime at the 50 percent owned Tengizchevroil (TCO) affiliate and production curtailments in Israel and the Partitioned Zone between Saudi Arabia and Kuwait."We continue to closely monitor developments in the Middle East with a focus on the safety of our workforce and the integrity of our assets and operations," said Mike Wirth, Chevron's Chairman and Chief Executive Officer, acknowledging the regional volatility that has impacted the company's footprint.Chevron's US upstream segment saw earnings rise, supported by a net oil-equivalent production increase of 388,000 barrels per day compared to the previous year.In contrast, international upstream earnings were lower than year-ago levels.Despite a volume boost of 117,000 barrels per day from the Hess acquisition, the segment was hampered by unfavorable foreign currency effects, higher depreciation costs, and the production dip at TCO.The company's refining sector hit major milestones this quarter, with US refinery crude unit throughput maintaining levels over 1 million barrels per day for the fifth straight quarter, reaching an all-time record in March 2026.In the US downstream segment earnings improved primarily due to higher refined product margins, though a higher litigation reserve capped the gains, Chevron noted.The international downstream segment faced challenges, with earnings falling due to lower margins, unfavorable timing effects, and rising transportation costs, the company said.

$CVX

Sectors55d ago

Sector Update: Financial

$AON

Research55d ago

Research Alert: Federal Realty Investment Trust Posts Q1 Revenue Beat; Raises 2026 Guidance

CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:Federal Realty Investment Trust (FRT) reported Q1 revenue of $341M (+10.3% Y/Y, $7M above consensus) vs. $309M a year ago. Comparable property operating income rose 3.1% Y/Y to $201M, though moderating from 4.4% growth in Q3. The exceptional leasing momentum with 106 leases totaling 661K square feet contributed to a record first quarter leasing volume, while robust rent spreads of +13% cash (+23% straight-line) reflect portfolio quality and favorable supply-demand dynamics in core markets. Management highlighted record trailing-12-month performance with 448 leases spanning 2.62M square feet. We believe the strong leasing metrics demonstrate underlying tenant demand for FRT's grocery-anchored properties, with sustained cash spreads of 16% and straight-line spreads of 28% on a trailing basis indicating continued pricing power. In our view, the sustained leasing velocity and consistent rent growth support the quality of FRT's strategic portfolio positioning in high-demand coastal markets.

$FRT

Asia Markets55d ago

US Equity Futures Nudge Higher Pre-Bell After S&P 500, Nasdaq Reach New Closing Highs

US equity futures were higher pre-bell Friday after the S&P 500 and Nasdaq Composite reached new closing highs to close out April amid a continued impasse in the Middle East.Dow Jones Industrial Average futures were 0.4% higher, S&P 500 futures were up 0.3%, and Nasdaq futures were marginally higher.On Thursday, the S&P 500 rose 1% to close at 7,209.01, breaching the 7,200 mark for the first time, while Nasdaq increased 0.9% to close at 24,892.31, also a new closing record.US President Donald Trump has rejected Iran's latest offer, stating that the US naval blockade on the nation's ports will remain until the regime agrees to a deal that addresses US concerns about its nuclear program, according to an Axios report on Wednesday.Traders took note of the latest round of earnings, with energy majors Exxon Mobil (XOM) and Chevron (CVX) both reporting lower Q1 adjusted earnings but higher revenue.Oil prices were mixed, with front-month global benchmark North Sea Brent crude up 0.4% at $110.85 per barrel and US West Texas Intermediate crude 1.2% lower at $103.79 per barrel.The final Purchasing Managers' Manufacturing Index for April, due at 9:45 am ET, is seen coming in at 54.0, unchanged from its prior value, according to estimates compiled by Bloomberg.The April Institute for Supply Management's services index, due at 10 am ET, is projected at 53.2, versus 52.7 previously.In other world markets, Japan's Nikkei, Hong Kong's Hang Seng, China's Shanghai Composite, and Germany's DAX index were all closed due to public holidays. The UK's FTSE 100 was down 0.6% in Europe's early afternoon session.In equities, Roblox (RBLX) stock was down 24% after the company reported a wider Q1 loss and lower-than-expected revenue, as well as lowering its 2026 revenue outlook. Sandisk (SNDK) and Western Digital (WDC) shares dropped 4.6% and 8%, respectively, despite the companies posting fiscal Q3 earnings and revenue that surpassed analysts' consensus.On the winning side, Apple (AAPL) stock was up 3.6% after the company posted higher fiscal Q2 earnings and revenue that also beat analysts' estimates. Reddit (RDDT) shares were up 15% after the company reported higher Q1 earnings and revenue in addition to issuing better-than-expected Q2 revenue guidance.

Dow JonesNasdaq CompositeS&P 500$AAPL$CVX$RBLX$RDDT$SNDK$WDC$XOM

Sectors55d ago

Sector Update: Consumer

Consumer stocks were mixed premarket Friday, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) 0.3% higher and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) down 0.1%.Colgate-Palmolive (CL) stock was up 2% after the company posted higher Q1 non-GAAP earnings and net sales.

$CL

Sectors55d ago

Sector Update: Health Care

Health care stocks were advancing pre-bell Friday, with the State Street Health Care Select Sector SPDR ETF (XLV) 0.3% higher and the iShares Biotechnology ETF (IBB) up 0.2%.Novo Nordisk (NVO) shares were up more than 2% after the company said it has rebranded its oral semaglutide medication for type 2 diabetes, formerly known as Rybelsus, as Ozempic.

$NVO

Research55d ago

Research Alert: An: Another Earnings Beat Fueled By Margins; Buybacks Continues

CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:AutoNation (AN) posted Q1 adjusted EPS of $4.69 vs. $4.68, ahead of the $4.61 consensus. Net sales fell 2% to $6.55B ($100M below consensus) and gross margin expanded 30 bps to 18.5% (40 bps ahead of consensus). The decline in revenue primarily reflected pressure in new vehicle unit sales, as same-store unit sales declined 9% for new vehicles and 5% for used vehicles. AN repurchased 1.5M shares for $300M in Q1, representing a 4% quarterly share count reduction. So far in Q2 (through April 29), AN has bought back an additional 0.4M shares for $91M, leaving $685M on its share repurchase authorization. At the end of Q1, AN possessed cash and equivalents of $66M, up slightly from $59M at year-end 2025. Total liquidity stood at $1.6B at quarter-end. Non-vehicle debt of $4.12B was up from $3.98B at year-end 2025. The quarter represented AN's sixth consecutive earnings beat. While its top line came in a bit light, margins exceeded expectations and AN continues to shrink its share counts through aggressive buybacks.

$AN

Sectors55d ago

Sector Update: Tech

$AAPL

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Asia Markets55d ago

US Equity Futures Nudge Higher Pre-Bell After S&P 500, Nasdaq Reach New Closing Highs

Dow JonesNasdaq CompositeS&P 500$AAPL$CVX$RBLX$RDDT$SNDK$WDC$XOM