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European Equities Mostly Lower in Tuesday Trading; BP Shares Rise After Q1 Results

European stock markets closed mostly lower in Tuesday trading with the Stoxx 600 down 0.4%, Germany's DAX shedding 0.2%, the FTSE 100 rising 0.1%, France's CAC decreasing 0.5%, and the Swiss Market Index easing 0.1%.In economic news, continental consumers in March expected inflation in the next 12 months to log at 4%, up from the 2.5% rate in February, the European Central Bank said.In corporate news, BP reported Q1 underlying replacement cost profit Tuesday of $1.24 per American depositary share, up from $0.53 a year earlier. Sales and other operating revenue for the quarter totaled $52.26 billion, up from $46.91 billion a year earlier. Analysts polled by FactSet expected $49.4 billion. BP shares rose 1.1% in London.Novartis reported Q1 core earnings Tuesday of $1.99 per share, down from $2.28 a year earlier. Analysts polled by FactSet expected $2.19. Net sales for the quarter ended March 31 were $13.11 billion, down from $13.23 billion a year earlier. Analysts surveyed by FactSet expected $14.14 billion. Novartis shares added 0.6% in Switzerland.Barclays has reserved 228 million British pounds ($307.9 million) in Q1 to cover the collapse of specialty lender MFS, Bloomberg reported Tuesday. The bank said in a regulatory filing that its Q1 credit impairment charges increased to 823 million pounds, up from 643 million pounds a year earlier, in an increase "primarily driven by a single name charge of 228 million pounds." Barclays shares shed 0.2% in London.HSBC said Tuesday it has expanded its fund administration capabilities in Saudi Arabia to include private assets. The bank said it now provides fund administration for clients investing in both traditional and private assets. HSBC said it currently services more than $165 billion in private assets across multiple fund jurisdictions. Its shares rose 0.9% in London.

Japan55d ago

Semiconductor Sell-Off Pushes S&P 500, Nasdaq Lower

US equity indexes were mixed in Tuesday's midday trading, with the S&P 500 and the Nasdaq Composite sliding, as slumping semiconductor shares sent technology lower, and worsening Middle East geopolitics lifted crude oil futures.The Nasdaq Composite dropped 1.3% to 24,568.2, and the S&P 500 slid 0.7% to 7,124.6. The Dow Jones Industrial Average, home mostly to old economy shares, climbed 0.2% to 49,259.3.Microsoft-backed (MSFT) OpenAI recently missed its own targets for new users and revenue, The Wall Street Journal reported late Monday, citing people familiar with the matter. Chief Financial Officer Sarah Friar expressed concern that OpenAI may not be able to pay for future computing contracts if sales fail to grow fast enough, the news report said, citing the people.Among companies with a market capitalization of more than $200 billion, the worst performers were largely semiconductor names, including Arm Holdings (ARM), Applied Materials (AMAT), Lam Research (LRCX), Arista Networks (ANET), and Advanced Micro Devices (AMD), according to data compiled by Finviz.Meanwhile, the United Arab Emirates will leave the Organization of the Petroleum Exporting Countries and its more expanded version, OPEC+, effective May 1, the Emirates News Agency reported.This comes as Iran's latest proposal to end the war in the Middle East has still not won President Donald Trump's backing, leaving the deadly conflict in a continuing state of deadlock, Reuters said in a Tuesday report, citing an unnamed US official.West Texas Intermediate crude oil futures jumped 3.6% to $99.80, and Brent crude futures advanced 2.6% to $111.08.

Dow JonesNasdaq CompositeS&P 500$AMAT$ARM$LRCXMAMD$MSFT

Commodities55d ago

US Ends 2 Offshore Wind Projects, Redirects Investment to Oil, Gas

The US has reached agreements with two offshore wind developers to terminate projects and redirect investment into conventional energy projects, the US Department of the Interior said on Tuesday.The Department said Bluepoint Wind and Golden State Wind agreed to voluntarily end their offshore wind leases and instead commit funds to liquefied natural gas and other traditional energy infrastructure.The agreements follow a similar arrangement with TotalEnergies (TTE) and form part of President Trump's Energy Dominance Agenda, which prioritizes fossil fuel development over renewable energy sources.US Interior Secretary Doug Burgum said the deals would help shift investment away from what he described as "intermittent, higher-cost" energy projects and toward "affordable, reliable" baseload power."Companies are once again investing in secure energy infrastructure that will lower utility bills for American families," Burgum said.Bluepoint Wind investors, including BlackRock's Global Infrastructure Partners and Ocean Winds, have committed up to $765 million to LNG projects, matching their original bid for the lease. The US, in return, will cancel the lease and reimburse the payment once the investment is deployed.Golden State Wind, meanwhile, will exit its lease in California's Morro Bay area and can recover about $120 million in fees after committing an equivalent amount toward oil, gas, or LNG projects along the Gulf Coast.The developers also signaled a broader retreat from US offshore wind. Both entities said they do not plan to pursue new offshore wind projects in the country, underscoring mounting headwinds for the sector amid shifting policy support and rising costs.The Department of Justice, which helped facilitate the agreements, said the settlements would avoid prolonged litigation and ensure taxpayer funds are not used to subsidize projects deemed unviable without government support.Price: $91.14, Change: $+2.40, Percent Change: +2.71%

$TTE

Commodities55d ago

US Energy Production Rises 3% in January; Gas, Renewables Lead Gains

US energy production reached 9.1 quadrillion British thermal units in January, rising 3% over the year, the US Energy Information Administration said in a Monthly Energy Review on MondayDry natural gas led fossil fuel output with a 46% share, followed by crude oil at 31%, coal at 12%, and natural gas plant liquids at 11%, the agency said.Renewable energy output showed biomass contributing 56%, wind 20%, hydroelectric power 12%, solar 11%, and geothermal energy 1%, EIA added.Natural gas plant liquids production jumped 7% over the year, while dry natural gas and renewable output each increased 4%, according to the EIA.Nuclear power and coal production each rose 2%, while crude oil output edged up 1% over the year, indicating moderate growth in traditional energy segments, the agency said.

Wire55d ago

Hershey's Q1 Saw 'Solid' Consumption Trends, RBC Says

Hershey (HSY) saw "solid" consumption in Q1 but concerns remain over its strategy in reversing ongoing volume declines and market share losses, RBC Capital Markets said in a Tuesday note.Scanner data suggested a 9.2% growth in Q1 consumption for Hershey, pointing to a revenue beat, according to RBC. The firm noted that Hershey expects the strongest quarterly revenue in Q1, while high inventory costs are anticipated to weigh on margins.Guidance for 2026 earnings per share is likely to be maintained, while Hershey's long-term guidance indicate EPS visibility through 2027, RBC added. It remains to be seen if Hershey's "strategy can revert ongoing volume declines and market share losses,' it added.The company's stock has been "resilient" so far this year, helped by easing cocoa costs and its strong guidance.Hershey is set to release its Q1 results on Thursday.RBC has a sector perform rating and $212 price target on Hershey.Price: $188.28, Change: $+1.79, Percent Change: +0.96%

$HSY

Wire55d ago

Clarivate Faces Q1 Segment Headwinds While Advancing Value Creation Plan, RBC Says

Clarivate (CLVT) is expected to see near-term headwinds across key segments in Q1 as it advances its value creation plan initiatives, RBC Capital Markets said, adding that the pressure masks underlying execution progress.The investment firm said in a Monday note that it expects organic revenue to decline 1%, in line with consensus, as Clarivate continues executing its value creation plan, or VCP.In the Intellectual Property segment, they forecast about a 4% organic decline due to tough year-over-year comparisons. Academia and Government should deliver stable growth of about 1%, while Life Sciences & Healthcare faces a similar about 1% headwind.RBC forecast total revenue to decline 6.8% year over year to $554 million, compared with consensus expectations of a 4.2% decline to $569 million. It estimates A&G revenue at $276 million versus $290 million consensus, IP revenue at $188 million in line with consensus and LS&H revenue at $89 million versus $92 million consensus.Adjusted earnings before interest, taxes, depreciation, and amortization are expected at $218 million with a margin of 39.3%, compared with consensus estimates of $227 million and 39.9%. Earnings per share estimate is $0.14, in line with consensus, the analysts said, adding that they expect the company to reiterate its 2026 guidance.The company is scheduled to report its Q1 results before the market opens on Wednesday.RBC has a sector perform rating and a $3 price target on Clarivate.Price: $2.48, Change: $+0.02, Percent Change: +0.81%

$CLVT

Wire55d ago

Blue Moon Metals to Acquire Nine Mineral Claims Adjacent to Springer Mine in Nevada

Blue Moon Metals (BMM) said Tuesday it has agreed to acquire certain claims adjacent to its Springer Mine in Pershing County, Nevada from GoldPlay and Robert Schafer for 188,199 shares, $1 million in cash, and a sliding scale gross revenue royalty on the concessions.The acquisition consists of nine unpatented mineral claims, including a portion of some historically identified veins including the Stank deposit, the O'Byrne deposits, and a portion of the Sutton deposit, and have seen high-grade tungsten trioxide drill results, the company said.A purchase and sale agreement was executed on Monday, with completion expected by early May, subject to regulatory approval, the company said.Price: $7.31, Change: $-0.73, Percent Change: -9.03%

$BMM

Wire55d ago

Street Color: Nvidia Introduces Nemotron 3 Nano Omni Model

$NVDA

US Markets55d ago

United Parcel Service Affirms Guidance Amid Iran War-Linked Demand Risks

United Parcel Service (UPS) maintained its 2026 revenue outlook as the package delivery giant flagged a potential demand impact from the Middle East conflict.The company continues to anticipate revenue of about $89.7 billion this year, while the consensus on FactSet is for $89.62 billion. UPS pegged the adjusted operating margin at about 9.6%."As we look to the balance of the year, there are a few external factors that we are watching that could impact demand, especially higher fuel costs stemming from the conflict in the Middle East and US consumer confidence, which is at historic lows," Chief Executive Carol Tome said during an earnings call, according to a FactSet transcript.The company's stock was falling 4.3% in Tuesday trade.The US-Israel war with Iran has disrupted shipments through the Strait of Hormuz. That conflict has boosted fuel costs, Chief Financial Officer Brian Dykes told analysts.The hostilities paused following a ceasefire between the US and Iran and later between Israel and Lebanon, but there's no framework yet on reaching a long-lasting peace deal."Our fuel surcharges are linked to published fuel benchmarks and adjust with fuel prices on a weekly basis, and we expect these surcharges to provide coverage as fuel prices continue to fluctuate," Dykes said.In the March quarter, UPS' revenue fell 1.6% year-on-year to $21.20 billion, compared with the Street's $20.98 billion forecast. Adjusted EPS declined to $1.07 from $1.49 a year ago, beating the average analyst estimate of $1.01.US domestic package revenue fell to $14.13 billion from $14.46 billion in the prior-year period amid lower volume. International revenue rose 3.8% to $4.54 billion.The company's expects revenue to grow by a low single digit in the second quarter, Dykes said on the call.In January, UPS said it planned to slash its workforce by up to 30,000 positions related to a planned reduction in Amazon's (AMZN) deliveries in its network.Price: $103.03, Change: $-5.21, Percent Change: -4.81%

$UPS

Wire55d ago

Commerce Bancshares Expands Share Repurchase Program

Commerce Bancshares (CBSH) said Tuesday its board approved an increase of 2.5 million shares to its share repurchase program.The firm said it is now authorized to buy back up to 7.5 million shares, including shares remaining under prior authorization.Shares were up about 2% in midday trading.Price: $52.02, Change: $+1.00, Percent Change: +1.96%

$CBSH

Mining & Metals55d ago

Argo Gold February Oil Production Decreases From Prior Month

Argo Gold (ARQ.CN) on Tuesday reported February oil production of 1,856 barrels, averaging 66 barrels per day.The company's oil revenue was $113,567 and net operating cash flow was $64,819 in the month. Its January oil production totaled 2,254 barrels, averaging 73 bpd.Shares of the company were last seen down $0.01 to $0.085 on the Canadian Securities Exchange.Price: $0.09, Change: $-0.01, Percent Change: -10.53%

$ARQ.CN

Wire55d ago

ADT's Q1 Results Expected to be In-Line With Consensus, RBC Says

ADT's (ADT) Q1 results are expected to be in-line with consensus, with flattish revenue as mid-single-digit Installation revenue growth is countered by a modest decline in the Monitoring and Related Services segment, RBC Capital Markets said Monday in a note.The brokerage expects flat revenue growth in Q1 to about $1.27 billion, roughly in line with consensus and reflects a roughly 1 point headwind from the sale of ADT's multifamily business, as well as near-term headwinds from changes to dealer and affiliate partnerships.Over the mid-term, the brokerage expects tailwinds from ongoing investments in new initiatives like ambient sensing, AI in sales and marketing, and expansion into do-it-yourself and e-commerce channels, according to the note.The company is scheduled to report Q1 results on Thursday.RBC maintained a sector perform rating on ADT with a price target of $9.Price: $7.17, Change: $-0.05, Percent Change: -0.76%

$ADT

Wire55d ago

Williams Keeps Quarterly Dividend at $0.525 a Share, Payable June 29 to Shareholders of Record as of June 12

$WMB

Treasury55d ago

US 2-Year FRN Auction High Discount Margin Falls from Previous Month, Demand Rises

The US Treasury's 2-year FRN auction hit a high discount margin of 0.103% on Wednesday, lower than the 0.115% high in the previous auction.The bid to cover ratio for the auction was 3.52, above the 2.78 ratio in the previous auction.Dealers represented 67.22% of the bids, with indirect bidders at 32.78%.For takedown, dealers took 34.29%, indirect bidders at 65.71%.

Wire55d ago

Clorox to Report 'Softer' Fiscal Q3 Results, RBC Says

Clorox (CLX) is expected to report a "softer" fiscal Q3, primarily due to sluggish consumption and category trends, RBC Capital Markets analysts said in a Tuesday note.Analysts said that it would be appropriate for the company to lower its full-year guidance due to heightened macroeconomic volatility.Clorox is scheduled to report its fiscal Q3 financial results on Thursday."Given that we expect more bad news than good, we see a negative risk to reward this quarter," RBC said.Analysts said that while Clorox's share performance is improving, the conflict in the Middle East likely impacts both its top and bottom line in fiscal Q4.RBC has a sector perform rating and a $127 price target on the stock.Price: $97.73, Change: $+1.07, Percent Change: +1.11%

$CLX

Asia Markets55d ago

Swiss Market Index Remains in Red; SIG Group Shares Rise

The Swiss Market Index remained in negative territory on Tuesday, closing 0.13% lower, as investors mull over a barrage of corporate earnings releases amid a quiet day of local economic news.Pharmaceutical major Novartis (NOVN.SW), packaging company SIG Group (SIGN.SW), machinery industry company Bucher Industries (BUCN.SW), and biopharmaceutical group Idorsia (IDIA.SW) were among Switzerland-listed companies that published financial results.SIG Group saw its shares jump 12.82% as it reported a year-over-year surge in first-quarter net income to 67.3 million euros from 15.6 million euros, mainly driven by unrealized gains from polymer derivatives and aluminum. The Switzerland-based packaging company's total revenue, on the other hand, declined to 714.3 million euros from 745.9 million euros. For 2026, the group maintained its guidance of total revenue growth within the 0% to 2% range at constant currency and constant resin.Meanwhile, Berenberg cut its price target for Barry Callebaut (BARN.SW) to 1,268 francs from 1,487 francs, with the stock's hold rating unchanged, following the Swiss chocolate and cocoa products group's fiscal 2026 EBIT guidance downgrade amid a disruption in cocoa bean prices."The company is now guiding to a mid-teen decrease in EBIT, which reflects considerably less optimistic expectations relative to guidance reiterated as part of its Q1 2026 results, which estimated low- to mid-single-digit growth in EBIT. While volume guidance was upgraded slightly, we expect subdued volume trends to persist until there is a meaningful inflection in downstream chocolate sales," the research firm said. Barry Callebaut was up 1.53%.Elsewhere and in economic news, the European Central Bank's latest Consumer Expectations Survey showed that median expectations for inflation in the next 12 months rose to 4% in March from 2.5% a month before. The estimate for the next three years also increased to 3% from 2.5%, while the expectation for five years ahead ticked up to 2.4% from 2.3%.

^SSMI$BARN.SW$BUCN.SW$IDIA.SW$NOVN.SW$SIGN.SW

Asia Markets55d ago

German Shares Slip; Qiagen Tumbles on Outlook Downgrade

The German blue-chip DAX was down 0.27% on Tuesday, as investors assess the ongoing diplomatic stalemate between the US and Iran alongside the latest round of corporate earnings and trading updates.Qiagen (QIA.F) was DAX's worst performer, falling 10.76%, after lowering its full-year 2026 net sales outlook to between 1% and 2% growth at constant exchange rates, down from its earlier target of at least 5%. The molecular testing company also projects a 2% decline in net sales from last year's $534 million.Concurrently, Bayer's (BAYN.F) shares retreated by 4.01%, after Bloomberg News reported the US Supreme Court signaled a split opinion on how to handle ongoing Roundup lawsuits. Despite the market's reaction, mwb Research characterized the hearing of Monsanto v. Durnell as "broadly neutral to slightly constructive," viewing it as another part of the German life sciences company's broader strategy to contain its Roundup litigation liabilities."While oral arguments provided no decisive read through and justices appeared divided, Supreme Court pre-emption remains a credible catalyst alongside the pending USD 7.25bn settlement, both of which improve visibility around Bayer's largest structural overhang. A favorable ruling would not eliminate all litigation immediately, but it would strengthen Bayer's legal position, reducing future cash uncertainty and supporting sentiment around the Crop Science business. With the market still over-discounting prolonged litigation drag, we reiterate our BUY rating and unchanged [price target] of EUR 52.00, as we continue to see scope for multiple re-rating," mwb said.In economic news, consumer inflation expectations in the euro area rose. Based on the latest monthly European Central Bank Consumer Expectations Survey, median expectations for inflation for the next 12 months and the next three years increased in March to 4% and 3%, respectively, from 2.5% a month ago. Meanwhile, the forecast for the next five years ticked up to 2.4% from 2.3% in February."Ahead of Thursday's ECB meeting, this morning's data provides more evidence that the war in the Middle East and the rise in energy prices are not only posing an inflationary shock but rather a stagflationary shock for the eurozone economy. As much as the rise in inflation expectations will fuel the rate hike debate, growing signs of adverse growth effects will make aggressive rate hikes less straightforward. Even though the ECB's primary policy goal is price stability, it's hard to see that it would really want to fight an exogenous supply shock at the cost of worsening an economic downturn," ING wrote.Speaking of the Middle East conflict, Iran's latest proposal to sideline talks about its nuclear program until the end of hostilities goes against US President Donald Trump's demands, Reuters reported, citing an unnamed US official. Trump is reportedly "unhappy" with the new terms from Tehran, insisting that nuclear issues be addressed from the outset, the news publication added.

^DAX$BAYN.F$QIA.F

Treasury55d ago

US 2-Year FRN High Discount Margin 0.103% vs 0.115% Previous; Bid/Cover 3.52 vs 2.78 Previous

Asia Markets55d ago

British Equities Rise as Earnings Season Kicks Off; BP Posts Bumper Profit

London's FTSE 100 closed 0.11% higher on Tuesday as investors examined the first batch of first-quarter earnings from corporate heavyweights.Oil major BP (BP.L) gained 1.12% after profit attributable to shareholders for the three months ended March 31 surged year over year to $3.84 billion from $687 million, thanks to higher margins and oil trading contribution."BP reported strong numbers this morning, with a 20% beat vs. market expectations at the net income level (7% ahead of RBCe)," RBC Capital Markets said. "Looking divisionally, the star of the show was the downstream, with BP reporting higher refining & trading numbers, well in excess of consensus and ~$200m ahead of our estimates for the quarter, supported by exceptional oil trading results."Coca-Cola Europacific Partners (CCEP.L) rose 1.89% after reporting fiscal first-quarter revenue of 5 billion euros, up from 4.69 billion euros a year earlier. The bottling company also reaffirmed its fiscal 2026 guidance, projecting revenue growth of 3% to 4% and operating profit growth of 7%."Whilst the consumer environment remains challenging and the full impact of the situation in the Middle East is uncertain, we are resilient," Coca-Cola Europacific Partners Chief Executive Officer Damian Gammell said.On the economic front, the UK's shop price inflation edged down to 1% year over year in April from 1.2% in March, the British Retail Consortium said. The consensus estimate for the month was 1.5%. BRC Chief Executive Helen Dickinson attributed the increase to discounts offered by retailers on certain Easter goods to encourage spending."Increased fuel prices are already leading to higher inflation, and we can expect a similar impact in the food and non-food supply chains in the months to come," said consumer intelligence firm NIQ's head of retailer and business insight, Mike Watkins. "However, retailers will look to hold back any price increases as long as possible as alongside fragile consumer confidence, accelerating inflation is likely to negatively affect consumer spending."

FTSE 100$BP.L$CCEP.L

Commodities55d ago

Tokyo Gas FY2025 Gas Sales Slip, Power Volumes Surge

Tokyo Gas reported 2025 earnings on Tuesday, showing consolidated gas sales volumes fell to 11.18 billion cubic meters, a slight decrease from 11.21 billion cubic meters a year earlier.The utility firm's retail customers rose to 8.86 million, while the total number of meters in operation increased to 12.69 million.The company also said that retail electricity customers rose to 4.34 million, while total power sales surged to 28 billion kilowatt-hours. Wholesale volumes jumped 28.4%, outpacing a 14% rise in retail electricity sales.Meanwhile, the gas supplier said it expects consolidated net sales to surge to 2.95 trillion Japanese Yen ($18.49 billion) in fiscal 2026, while gas sales volume is projected to drop to 10.79 billion cubic meters. Electricity sales, in contrast, are projected to increase to 28.49 billion kWh.Tokyo Gas's assumptions for the fiscal year include an exchange rate of 155 Japanese Yen per dollar and oil prices averaging $85 per barrel.

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Asia Markets55d ago

German Shares Slip; Qiagen Tumbles on Outlook Downgrade

^DAX$BAYN.F$QIA.F