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Sector Update: Financial Stocks Decline Pre-Bell Thursday

Financial stocks were declining pre-bell Thursday, with the State Street Financial Select Sector SPDR ETF (XLF) down 0.6%.The Direxion Daily Financial Bull 3X Shares (FAS) was 1.9% lower and its bearish counterpart Direxion Daily Financial Bear 3X Shares (FAZ) was up 1.9%.Banco Bilbao Vizcaya Argentaria (BBVA) stock was up more than 2% after the company reported higher Q1 adjusted earnings and gross income.ING Groep (ING) shares were up more than 2% after the company posted higher Q1 earnings and total income.Willis Towers Watson (WTW) stock was down more than 9% even after the company posted higher Q1 adjusted earnings and revenue.

$BBVA$FAS$FAZ$ING$WTW$XLF

Sectors55d ago

Sector Update: Health Care Stocks Rise Premarket Thursday

Health care stocks were rising premarket Thursday, with the State Street Health Care Select Sector SPDR ETF (XLV) 1% higher and the iShares Biotechnology ETF (IBB) up 0.6%.Eli Lilly (LLY) shares were up more than 5% after the company reported higher Q1 non-GAAP earnings and revenue, and raised its 2026 outlook.Merck (MRK) stock was down more than 1% after the company said it swung to a Q1 adjusted loss.Alnylam Pharmaceuticals (ALNY) shares were up more than 2% after the company posted higher Q1 adjusted net income and revenue.

$ALNY$IBB$LLY$MRK$XLV

Sectors55d ago

Sector Update: Tech Stocks Advance Premarket Thursday

Technology stocks were advancing premarket Thursday, with the State Street Technology Select Sector SPDR Fund (XLK) 0.7% higher and the State Street SPDR S&P Semiconductor ETF (XSD) up 2.5%.Alphabet (GOOG, GOOGL) shares were up 6.9% after the company reported late Wednesday higher Q1 earnings and revenue that also topped market expectations.Meta Platforms (META) stock was down more than 8% after the company raised its forecast for 2026 capital expenditures, overshadowing its Q1 earnings and revenue beat.Viavi Solutions (VIAV) shares were up about 31% after the company posted higher fiscal Q3 non-GAAP earnings and net revenue, and issued fiscal Q4 outlook above analysts' expectations.

$GOOG$GOOGL$META$VIAV$XLK$XSD

Sectors55d ago

Sector Update: Consumer Stocks Mixed Premarket Thursday

Consumer stocks were mixed premarket Thursday, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) down 0.1% and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) 1% higher.Unilever (UL) stock was up more than 1% after the company reported a 3.8% underlying sales growth, along with a 3.3% decline in turnover, in Q1.Royal Caribbean Group (RCL) shares were up more than 6% after the company reported higher Q1 adjusted earnings and revenue.Smurfit Westrock (SW) stock was down more than 6% after the company posted a decline in Q1 adjusted earnings.

$RCL$SW$UL$XLP$XLY

Equities55d ago

JHI Associates Secures Interim Court Order for Shareholder Meeting Linked to Eco Bid

The Ontario Superior Court of Justice (Commercial List) granted an interim order allowing JHI Associates to convene a shareholders' meeting to vote on the plan of arrangement relating to Eco (Atlantic) Oil & Gas' (ECO.L) proposed takeover.As such, JHI has set its annual and special shareholders' meeting for May 12, according to a Thursday filing. If approved by shareholders, JHI will seek the court's final sanction on the arrangement on May 15, with completion expected by the end of the third quarter, subject to customary closing conditions and regulatory approvals.On March 11, the oil and gas company entered into a binding agreement to acquire the remaining JHI shares it does not own through an exchange ratio of 0.7054 Eco share for each JHI share.

$ECO.L

Treasury55d ago

Canada's Q1 GDP Reignites in Q1, But Not Enough to Push Central Bank to Change Rates, Says CIBC

Growth in the Canadian economy appears to have "reignited" in Q1, although "it still isn't running on all cylinders", said CIBC after Thursday's gross domestic product data.Monthly GDP data for February pointed to a 0.2% month-over-month increase, which was in line with the consensus forecast and the advance estimate, noted the bank.Among highlights, CIBC noted the manufacturing sector was "easily" the largest contributor, aided by a rebound in the auto industry following a contraction in January. An easing of supply bottlenecks in the auto industry also drove growth in wholesaling. However, trends were "decidedly more mixed" outside of those sectors, and the advance estimate for March pointed to a flat reading for that month.For Q1 as a whole, Thursday's advance estimate suggests annualized growth of 1.7%, which is very close to the Bank of Canada's Monetary Policy Report projection of 1.5%, CIBC said. However, the slowing of momentum again in March, combined with the Survey of Employment, Payrolls and Hours (SEPH) data also on Thursday showing a decline in employment in February (-60,000), may be a concern for what's to come in Q2, it added.Overall, though, movements in oil markets as well as any signs of whether inflationary pressures are spreading to core metrics, will continue to be more important in determining whether the Bank of Canada feels the need to raise rates this year, according to CIBC.CIBC continues to believe that there's enough slack within the economy to keep core measures of inflation fairly muted, even as the impact of higher energy prices passes through in some areas, which will enable the BoC to leave rates on hold through 2026.

$CXY

Research55d ago

Research Alert: Cop: A Q1 Beat And A Turning Of The Corner In Alaska

CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:COP reported Q1 adjusted EPS of $1.89 vs. $2.09 prior year, beating the consensus of $1.71 by $0.18, while production declined 3.3% Y/Y to 2.31M boe/d but only 1% excluding acquisitions and divestitures. Average realized pricing fell 6% to $50.36/boe from $53.34/boe in Q1 '25. Key developments include the Willow project in Alaska reaching 50% completion with first oil still targeted for 2029, and continued LNG development with North Field East due for completion in the second half of 2026. COP guided 2026 production to 2.295M-2.325M boe/d (flat at midpoint) and capex of $12.0B-$12.5B, stripping out 20K boe/d from Qatar and 15K boe/d royalty adjustment from Surmont. The U.S. Lower 48 led production at 1.45M boe/d (63% of total), with Delaware Basin contributing 698K boe/d. In our view, successful completion of Willow would materially advance Alaska production from current 195K boe/d levels. COP maintained its 45% CFO return commitment, distributing $2.0B through equal portions of buybacks and dividends.

$COP

Oil & Energy55d ago

EMEA Natural Gas Update: Futures Down Amid Weak Seasonal Forces and Demand Destruction

European natural gas futures were down on Thursday, reversing gains from earlier in the day, as seasonally weaker momentum and demand destruction began to weigh on the market.The front-month Dutch TTF contract was down 0.65% to 46.56 euros ($54.44) per megawatt hour, while the UK NBP dropped 0.61% to 115.03 British pence ($1.54) per therm.Seasonal factors are playing a key role in this behavior, along with "a fair amount of demand destruction," according to ING analysts, who also noted that current European gas prices don't reflect the scale of disruption the LNG market has endured owing to the closure of the Strait of Hormuz.Meanwhile, US President Donald Trump reportedly told Axios that he was rejecting Iran's proposal earlier this week to open the Strait, which involved delaying nuclear negotiations between the two countries.Trump also said that the Naval blockade against Tehran would continue until the regime agrees to a deal that addresses all US concerns regarding its nuclear program.The US Central Command is also reportedly preparing a "short and powerful" wave of strikes against Iran, aimed at breaking the current deadlock, Axios said, citing sources with knowledge of the matter.Centcom Commander, Admiral Brad Cooper, also noted on Wednesday that US forces had successfully diverted the 42nd vessel that was trying to violate the blockade against Iran. He said that as a result, there were "41 tankers and 69 million barrels of oil" that the Iranian regime in unable to sell.Nonetheless, the strategically crucial Strait of Hormuz remains closed for the ninth week running, with just 13 vessels transiting over the past 24 hours, according to the Hormuz Strait Monitor.Shell (SHEL) CEO, Wael Sawan, warned on Wednesday that the oil and LNG shortages caused by the conflict could last for months, and possibly even into the next year, in an interview with Bloomberg.Daniel Hynes, a senior commodity strategist at ANZ, noted that this would be problematic for Europe, "as it refills empty storage ahead of the next heating season."Europe has begun reinjections at significantly depleted inventory levels, at just 32.23% of capacity, compared to 38.96% during the corresponding period a year ago, according to data from Gas Infrastructure Europe.

Sectors55d ago

Sector Update: Energy

Energy stocks were declining premarket Thursday, with the State Street Energy Select Sector SPDR ETF (XLE) 1.2% lower.The United States Oil Fund (USO) was down 2.8% and the United States Natural Gas Fund (UNG) was 0.4% higher.Front-month US West Texas Intermediate crude oil was 1.3% lower at $105.48 per barrel at the New York Mercantile Exchange. Global benchmark North Sea Brent crude oil fell 3.2% to $114.28 per barrel, and natural gas futures were down 0.1% at $2.64 per 1 million British Thermal Units.ConocoPhillips (COP) shares were down more than 2% after the company posted lower Q1 adjusted earnings and revenue.

$COP

Sectors55d ago

Sector Update: Financial

$BBVA

Sectors55d ago

Sector Update: Health Care

Health care stocks were rising premarket Thursday, with the State Street Health Care Select Sector SPDR ETF (XLV) 0.9% higher and the iShares Biotechnology ETF (IBB) up 0.5%.Eli Lilly (LLY) shares were up 6% after the company reported higher Q1 non-GAAP earnings and revenue, and raised its 2026 outlook.

$LLY

Research55d ago

Research Alert: Southern Company Q1: Wholesale Electric Fuels Top- And Bottom-line Beats

CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:Southern Company reported Q1 2026 adjusted EPS of $1.32, up 7.3% Y/Y, and beating guidance by 10.0% and consensus by 9.1%. Operating revenues increased 8.0% (+3.6% vs. consensus) to $8.4B, attributed to wholesale electric revenues surging 29.7% to $965M and natural gas revenues rising 19.1% to $2.2B. The company added 49K customers Y/Y, reflecting 1.1% growth, while weather-adjusted retail sales increased 2.3%, with strong commercial (+4.6%) and industrial (+1.5%) performance. Weather impacts reduced quarterly EPS by $0.05 as actual residential sales declined 4.1%. Southern Power faced significant headwinds, with net income falling 95.4% to $4M due to $154M in accelerated depreciation charges from wind facility repowering projects, with additional charges of $335M expected through 2026 and $100M in 2027. We believe the strong underlying utility performance and customer growth trends support the investment thesis despite near-term Southern Power challenges.

$SO

International55d ago

US Q1 GDP Rises Less Than Expected, PCE Growth Slows

US economic growth, measured by gross domestic product, rose by 2.0% in Q1 after a 0.5% gain in Q4, slower than a 2.3% increase expected in a survey compiled by Bloomberg as of 7:35 am ET.Personal consumer expenditures rose by 1.6% after a 1.9% gain in Q4.There were positive contributions from nonresidential fixed investment, inventory growth and government spending that were partially offset by negative contributions from residential fixed investment and net exports.The GDP price index rose by 3.6% after a 3.7% gain in the previous quarter, but the PCE measures accelerated.The second estimate of Q1 GDP is scheduled to be released on May 28.The quarterly measure of gross domestic product, or GDP, is released by the US Bureau of Economic Analysis at three stages, with the advance reading about a month after the end of a quarter, followed by second and third readings for the same quarter two and three months after quarter-end.The data are broken down by each of the GDP components: consumption, fixed investment (which includes residential and nonresidential investment and inventories), government spending, and net exports (exports minus imports). The report also includes prices measures for the overall reading and the categories.Strong GDP growth is a positive for stocks, but a negative for bonds, especially if it is accompanied by sharp inflation gains.

US Markets55d ago

Eli Lilly Raises 2026 Outlook Following First-Quarter Beat

Eli Lilly (LLY) raised its full-year outlook on Thursday while the drugmaker reported first-quarter results above market estimates, as sales of its Mounjaro diabetes treatment more than doubled year over year.The drugmaker now expects adjusted earnings to be in a range of $35.50 to $37 per share for 2026, up from its previous projections of $33.50 to $35. Revenue is pegged at $82 billion to $85 billion, compared with the prior guidance of $80 billion to $83 billion.The current consensus on FactSet is for non-GAAP EPS of $34.51 and sales of $82.07 billion for the year."2026 is off to a strong start, we delivered 56% revenue growth in the first quarter and raised our full-year revenue guidance by $2 billion," Chief Executive David Ricks said in a statement. "We also delivered pipeline progress across all four therapeutic areas and continued investing in Lilly's future growth through four acquisitions."For the quarter ended March, Eli Lilly's adjusted EPS soared to $8.55 from $3.34 the year before, surpassing the Street's view of $6.97. Revenue jumped to $19.8 billion from $12.73 billion, well ahead of the average analyst estimate of $17.82 billion.The stock climbed 6.2% in the most recent premarket activity.Sales in the US advanced 43% to $12.1 billion, boosted by a 49% increase in volume, partially offset by lower prices, driven by weight-loss drug Zepbound and plaque psoriasis treatment Taltz, according to the firm. Revenue from non-US markets surged 81% to $7.7 billion amid volume growth of 95%.Revenue from Mounjaro spiked to $8.66 billion from $3.84 billion last year, amid gains in the US and international markets, boosted by robust demand and volume growth, respectively. Zepbound sales climbed to $4.16 billion from $2.31 billion, buoyed by higher demand.Eli Lilly said a recent milestone for the company was the US Food and Drug Administration's approval of its Foundayo, or orforglipron, drug for adults with obesity, or overweight with weight-related medical problems. In an emailed client note, Truist Securities said it believes the new product is likely to expand the market and not "cannibalize" it.

$LLY

Asia Markets55d ago

Big Tech Earnings, Fed Rate Decision Lift US Equity Futures Pre-Bell

US equity futures were higher pre-bell Thursday as traders absorbed the latest round of financial results, including those of big tech, amid the Federal Open Market Committee maintaining its target rate.Dow Jones Industrial Average futures were 0.6% higher, S&P 500 futures were up 0.5%, and Nasdaq futures were 0.7% higher.Alphabet (GOOG, GOOGL), Amazon (AMZN), and Meta Platforms (META) all reported higher earnings and revenue for Q1, while Microsoft (MSFT) posted an increase in fiscal Q3 adjusted earnings and revenue. Apple (AAPL) is expected to publish its fiscal Q2 financial results after-market.The Federal Open Market Committee maintained the target range for its federal funds rate at 3.50% to 3.75%, as expected, but the level of dissent was reportedly the highest since 1992, with four officials dissenting.Oil prices were lower, with front-month global benchmark North Sea Brent crude down 0.7% at $109.72 per barrel and US West Texas Intermediate crude 1.2% lower at $106.61 per barrel.In other world markets, Japan's Nikkei closed 1.1% lower, Hong Kong's Hang Seng ended 1.3% lower, and China's Shanghai Composite finished 0.1% higher. Meanwhile, the UK's FTSE 100 was up 1.4%, and Germany's DAX index was 0.9% higher in Europe's early afternoon session.The March core personal consumption expenditures price index, the Federal Reserve's preferred inflation gauge, released at 8:30 am ET, gained 0.3%, lower than 0.4% in the prior month and meeting estimates compiled by Bloomberg.Initial jobless claims declined to 189,000 in the week ended April 25 from an upwardly revised 215,000 level in the previous week, compared with expectations for a decrease to 212,000. Q1 GDP growth was recorded at a 2.0% annual rate, compared with expectations for 2.3%.In equities, Alphabet and Amazon shares rose 7.3% and 3.4%, respectively, after the companies reported their Q1 financial results. Eli Lilly (LLY) stock was up 6.1% after the company posted Q1 non-GAAP earnings and revenue that surpassed analysts' consensus and boosted its full-year 2026 guidance.On the losing side, Meta Platforms shares were 8.4% lower, a day after the company said it raised its 2026 capital expenses outlook and reported a decline in its daily active users on a quarter-over-quarter basis. Stellantis (STLA) stock was down 2.6% after the company reported Q1 net revenue that fell short of analysts' estimates. Microsoft shares were down 0.9% despite the company posting a fiscal Q3 adjusted earnings and revenue beat.

Dow JonesNasdaq CompositeS&P 500$AAPL$AMZN$GOOG$GOOGL$LLY$META$MSFT$STLA

Mining & Metals55d ago

Earnings Flash (AEP.V) Atlas Engineered Products Reports Q4 Revenue C$17.6M, Up 17%; Net Loss After Taxes $686,098

$AEP.V

Asia55d ago

CATL Raises Over HK$39 Billion from Share Placement

Contemporary Amperex Technology (HKG:3750, SHE:300750) or CATL completed the allotment and issue of 62.4 million new Hong Kong-listed shares to at least six investors at HK$628.20 apiece to raise net proceeds of HK$39.1 billion, according to a Thursday Hong Kong bourse filing.The shares represent roughly 29% of the battery maker's enlarged issued share capital.

HKG:3750SHE:300750

Sectors55d ago

Sector Update: Consumer

$UL

Asia55d ago

China HK Power Smart Energy Names International Consultant

China HK Power Smart Energy Group (HKG:0931) appointed Muath Ibrahim Al-Eidi as its International Consultant on Thursday, according to a same-day Hong Kong bourse filing.Al-Eidi will have a strategic advisory and executive liaison role and will represent the firm in key international engagements.

HKG:0931

Asia55d ago

Fosun Pharma Unit Gets China Nod for Acute Heart Failure Drug Registration

Shanghai Fosun Pharmaceutical (SHA:600196, HKG:2196) unit Yaopharma's drug registration application for the Sodium Nitroprusside Injection was approved by China's National Medical Products Administration, according to a Thursday Hong Kong bourse filing.The approved indication is for hypertensive emergencies and acute heart failure.

HKG:2196SHA:600196

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Asia Markets55d ago

Big Tech Earnings, Fed Rate Decision Lift US Equity Futures Pre-Bell

Dow JonesNasdaq CompositeS&P 500$AAPL$AMZN$GOOG$GOOGL$LLY$META$MSFT$STLA