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Intel's Post-Earnings Remarks Indicate Full-Year Revenue Upside Potential, UBS Says

Intel's (INTC) post-earnings commentary suggests revenue upside potential for 2026 despite a likely conservative outlook for the second half of the year, UBS Securities said in a note e-mailed Friday.Late Thursday, the chipmaker posted stronger-than-expected first-quarter results amid artificial intelligence-driven demand for its products. The company issued an upbeat outlook for the ongoing quarter."We're prudently planning for (personal computer) demand to weaken in the second half of the year and expect the full-year PC unit (total addressable market) to be down low-double-digit percent in line with industry peers and experts," Intel Chief Financial Officer David Zinsner said on an earnings conference call late Thursday, according to a FactSet transcript.The CFO's outlook implies full-year revenue of about $58 billion, or roughly $4 billion higher than the pre-call Wall Street estimate, and up 10% year over year, UBS analysts, including Timothy Arcuri, said in a note to clients."The rapid inflection in server (central processing unit) demand has put (Intel) in a position to better control its destiny this year, so the odds are that even the implied commentary for (the second half) is still probably conservative and numbers still have upside," the analysts wrote.UBS raised its price target on the Intel stock to $83 from $65 while maintaining its neutral rating.The company's shares were up 21% in Friday afternoon trade. So far this year, the stock has surged 118%."The newsflow on foundry should also remain positive as the release of the 14A production design kit late this year probably catalyzes one or more foundry deals with [Nvidia (NVDA), Apple (AAPL), maybe Amazon (AMZN)] and a high-end consumer product," the UBS analysts said. "The manufacturing narrative is playing out about as we expected, but we have under-estimated how much the market was willing to overlook a lack of earnings power."Customer order patterns in the near term continue to be "very robust" across Intel's businesses, Zinsner said on the call. Over the past 90 days, the company's outlook for server CPU demand has improved, with expectations for a strong year of double-digit unit growth for Intel and the broader industry, Zinsner said, adding that the momentum is seen extending into next year.Price: $81.22, Change: $+14.44, Percent Change: +21.62%

$AAPL$AMZN$INTC$NVDA

Sectors56d ago

Sector Update: Tech

Tech stocks were higher Friday afternoon, with the State Street Technology Select Sector SPDR ETF (XLK) rising 2.7% and the State Street SPDR S&P Semiconductor ETF (XSD) jumping 6.4%.The Philadelphia Semiconductor index climbed 4.4%.In corporate news, Intel (INTC) shares surged 20%. The chipmaker reported Q1 results above Wall Street's estimates as it benefited from AI-driven demand for its products.

$INTC

Mining & Metals56d ago

BMO Raises Mullen Group Price Target to $23.00, Keeps Outperform Rating, on Outlook

BMO raised its price target on Mullen Group (MTL.TO) shares by $3.00 to $23.00 and maintained an outperform rating on a brightening outlook for the company.The company reported first-quarter results that were in line with expectations, but analyst John Gibson notes that a turn in freight demand during March bodes well for Mullen's broader trucking and logistics businesses."Additionally, we believe the company's energy-levered segment (i.e., Specialized and Industrial) should benefit as projects move forward, including the Alaska LNG project and ongoing nation build in Canada," he adds.Price: $19.94, Change: $+0.50, Percent Change: +2.57%

$MTL.TO

Research56d ago

Research Alert: CFRA Keeps Hold Opinion On Adss Of Tal Education Group

CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:We lower our target price to USD12 (from USD14), 20x our FY 27 (Feb.) EPADS estimate, vs. the three-year mean of 31x, reflecting our projected easing of earning growth as the solid recovery in the post-FY 22 restructuring years normalizes. We forecast revenue growth of 31%/11% in FY 27/FY 28, supported by learning center expansion, higher enrollment in enrichment programs, and continued adoption of learning devices. While moderating from FY25-FY26 levels, this reflects a higher base and more disciplined expansion. Learning services should remain the largest contributor, with devices continuing to scale. We expect net margin to improve to 8.9%/9.8% in FY 27/FY 28 (FY26: 7.6% excluding one-offs), supported by economies of scale (including improving adoption under the learning devices business) and better operational efficiency. However, ongoing investments in AI and marketing are likely to partly offset gains. We maintain EPADS forecasts of USD0.61 for FY27 and introduce USD0.69 for FY28.

$TAL

Commodities56d ago

Adani Green Energy Lifts Energy Output 34%, Expands Capacity to 19.3 GW

Adani Green Energy reported Q4 earnings Friday, showing total energy sales increased 34% over the year, rising to 37,567 million units for the fiscal year 2026.The company's operational capacity expanded 35% over the year, to reach 19.3 gigawatts, on track to achieve its 50 GW target.AGEL added 5.1 GW of greenfield renewable capacity across solar, wind, and hybrid projects in FY 2026, compared with 3.3 GW in FY 2025, the company said.The company expanded solar capacity by over 3.4 GW, added 683 megawatts of wind capacity, and developed almost 956 MW of hybrid capacity, primarily across Gujarat and Rajasthan, the company said.AGEL also exceeded its contracted electricity commitments, delivering 106% of pledged generation under power purchase agreements during the fiscal year, reflecting strong operational efficiency, the company said.AGEL is advancing its 30-GW renewable energy project in Khavda, Gujarat, spanning 538 square kilometers, and aims to reach full capacity at the site by 2029, the company said.The company installed 1.4 gigawatt-hours of battery storage at Khavda and plans to expand capacity beyond 10 GWh by fiscal year 2027, it said.Adani Green Energy's capacity expansion keeps it on track to achieve its 50-gigawatt renewable energy target, the company said.The company's 19.3 GW operational portfolio powers over 8.7 million homes and cuts about 36 million metric tons of carbon emissions annually, Executive Director Sagar Adani said.

Wire56d ago

Market Chatter: Google, Microsoft Among Bidders for SoftBank Ohio Data Center Operators

Alphabet's (GOOGL) Google and Microsoft (MSFT) are set to take part in a bidding process to select operators for a US data center being developed by SoftBank, Nikkei Asia reported Friday.The decision, potentially coming as early as this month, relates to a 10-gigawatt data center planned in Piketon, Ohio, which is part of a broader investment expected to eventually reach $500 billion, the report added.Companies including Nvidia (NVDA), Meta Platforms (META) and OpenAI are also being considered as potential candidates, the news outlet reported. The first round of bidding is expected to conclude by April 30, with winning operators likely to invest in phases.Google and Microsoft didn't immediately respond to' request for comment.(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: $418.55, Change: $+2.80, Percent Change: +0.67%

$GOOG$MSFT

Mining & Metals56d ago

RBC Maintains CAE's Sector Perform Rating and C$42.00 Price Target Ahead of Fiscal Q4 Results

RBC Capital Markets maintained its sector perform rating and C$42.00 price target on the shares of CAE (CAE.TO, CAE) on Friday.RBC expects CAE's upcoming Fiscal Q4 report to shift attention to the company's long-term growth opportunities. It expects management to outline targets for revenue, margins, CapEx, EPS, and ROIC through FY30.RBC believes secular tailwinds in both Civil and Defense can support 4-5% revenue growth longer-term, with key focus on what level of FCF management's targets imply.RBC's new FY30 forecasts call for ~100% FCF conversion and EPS of $2.21, it added."While we remain Sector Perform into the quarter, we will be looking for colour that gives us increased confidence in execution, which could provide a lift to valuation," said RBC.RBC believes FY27 will "come in well below street estimates," although RBC does not expect this to be a major focus for investors. It expects FY27 to represent a "transitional year" for CAE as it works through the execution phase of its transformation plan."While the strategic initiatives we expect management to lay out could yield meaningful benefits over the medium term, the near-term financial profile will likely reflect the friction of restructuring activities, ongoing market headwinds, and the lag between cost actions and margin realization," added RBC.RBC expects management to lay out a growth framework underpinned by "strong secular tailwinds" in both Civil and Defense that it believes will support revenue growth of 4-5% annually."On the margin front, we expect management to target Civil operating margins of ~25% (vs. ~20% today), reflecting the benefits of network rationalization, improved utilization, and a leaner cost structure; and Defense operating margins of ~11% (vs. ~8.5% today), driven by the continued roll-off of legacy contracts and a higher mix of new, betterpriced programs," said RBC.RBC expects these revenue and margin improvements to drive capital efficiency gains, with CapEx moderating to ~$300MM longer-term as network right-sizing reduces growth capital requirements. RBC expects this to drive EPS of >$2.00 in FY30."We now value CAE off our new F30 EPS estimate of $2.21, applying a 22.5x multiple and discounting back at 8%, which results in our $42 price target," said RBC.Price: $34.50, Change: $-0.27, Percent Change: -0.78%

$CAE$CAE.TO

Wire56d ago

Waste Connections 2026 Outlook Seen 'Conservative' After Q1 Beat, RBC Says

Waste Connections (WCN) remains well-positioned for 2026 with current guidance appearing "conservative" given the strong start to the year, RBC Capital Markets said Thursday in a report.The company reported Q1 adjusted EBITDA and EPS ahead of market expectations and reaffirmed its 2026 outlook, with potential for gains from higher commodity prices, a more supportive macro backdrop and a robust pipeline for mergers and acquisitions, the report said.Waste Connections is projecting 2026 revenue of $9.9 billion to $9.95 billion, adjusted EBITDA of $3.3 billion to $3.325 billion and adjusted free cash flow of $1.3 billion, the report said.The company's strategy centers on "market selection, strategic asset positioning and local execution," driving long-term outperformance versus peers, RBC said. "We believe this strong track record justifies Waste Connections' premium valuation."RBC raised its price target on Waste Connections stock to $218 from $210 and reiterated its outperform rating.Price: $166.68, Change: $-2.21, Percent Change: -1.31%

$WCN

Wire56d ago

SS&C Technologies Reported Solid Q1 With High Conviction Toward Share Repurchases, RBC Says

SS&C Technologies (SSNC) posted a solid Q1 amid a tough macro backdrop, with organic growth of 5%, and guided to Q2 growth of 5.6% at the midpoint, along with management's high conviction toward share repurchases, RBC Capital Markets said in a note emailed Friday.As tokenization and artificial intelligence remain key debates around the stock, the company is rolling out an AI orchestration platform next week and has made progress in supporting clients looking to tokenize assets, according to the note.While year-over-year growth remained solid, the GlobeOp division decelerated by 250 basis points sequentially in Q1 and Global Investor and Distribution Solutions faces a tougher comp in the second half, the firm noted. Q1 revenue retention was 96.7%, compared with 96.4% last quarter and 97.1% a year ago, the brokerage said.RBC raised its 2026 revenue and adjusted EPS estimates to $6.76 billion and $6.92, respectively, from $6.71 billon and $6.83. It also updated 2027 revenue and adjusted EPS estimates to $7.11 billion and $7.50 from $7.06 billion and $7.45.RBC maintained an outperform rating on SS&C Technologies with a price target of $89.Price: $66.56, Change: $-3.50, Percent Change: -5.00%

$SSNC

Wire56d ago

Lucid Diagnostics Completes $18 Million Direct Offering of Shares

Lucid Diagnostics (LUCD) said Friday that is has completed its underwritten direct offering of 18 million shares at $1 per share.The company said the offering was anchored by a $15 million investment from a "fundamental" institutional investor with support from a large existing shareholder.Lucid said it plans to use the net proceeds for working capital and general corporate purposes.Price: $1.09, Change: $-0.01, Percent Change: -0.46%

$LUCD

Wire56d ago

Dover Sees Strong Bookings Growth, Demand Momentum, RBC Capital Markets Says

Dover (DOV) reported a modest Q1 operating beat, with 24% bookings growth and a 1.20x book-to-bill ratio pointing to demand momentum, RBC Capital Markets said in a Thursday note.The firm said bookings strength was broad-based, with all segments posting book-to-bill above 1.10x.RBC highlighted strength in clean energy components, fluid transport, retail fueling, refrigerated door cases, heat exchangers and CO2 refrigeration systems.The firm also said bookings strength suggests upside to Dover's 3% to 5% organic growth guidance. Dover reaffirmed its 2026 adjusted earnings per share guidance of $10.45 to $10.65, and revenue growth outlook of 5% to 7%.RBC raised its price target to $252 from $225, and maintained its sector perform rating on Dover.Price: $229.96, Change: $+1.81, Percent Change: +0.79%

$DOV

Insider Trading56d ago

Pharvaris Insider Sold Shares Worth $441,726, According to a Recent SEC Filing

Anne Lesage, Chief Early Development Officer, on April 22, 2026, sold 14,700 shares in Pharvaris (PHVS) for $441,726. Following the Form 4 filing with the SEC, Lesage has control over a total of 213,319 common shares of the company, with 56,450 shares held directly and 156,869 controlled indirectly.SEC Filing:https://www.sec.gov/Archives/edgar/data/1830487/000119312526176222/xslF345X05/ownership.xmlPrice: $28.49, Change: $+1.20, Percent Change: +4.40%

$PHVS

Wire56d ago

Brinker International to Keep Extending Chili's Growth, May See Margin Recovery Over Time, UBS Says

Brinker International (EAT) could keep growing sales and market share as Chili's benefits from value deals, better operations, unit growth, and stock buybacks, while margin pressure near-term may ease over time, UBS said in a note Friday.Chili's is expected to post solid fiscal Q3 same store sales despite poor weather, and Brinker's current strategy and leadership should help support steady growth, UBS said.The investment firm said the new chicken sandwich platform, the "3 For Me" offer, stronger marketing, and better customer experience should keep traffic and spending trends healthy, as its recent survey showed strong consumer demand for Chili's, helped by good value, better service, and improved menu items.The firm said it expects some near-term pressure on restaurant margins from inflation, marketing spending, winter storms, and labor costs; however, profit margins should improve over the longer term as cost pressure eases and sales growth and pricing continue to help results.UBS kept its buy rating and $190 price target, saying Brinker shares still have room to rise, citing solid earnings potential, faster unit growth, a strong balance sheet, and buybacks.Price: $140.63, Change: $-3.22, Percent Change: -2.24%

$EAT

Mining & Metals56d ago

TSX Flat at Midday With Most Sectors Higher

The Toronto Stock Exchange is little changed at midday with most sectors higher.The best performers are healthcare (+2.8%) and financials (+0.5%).Limiting gains are losses in energy (-1.8%) and telecoms (-1.1%).On the economic front, focus was on the release of Canadian retail sales data for February, and a March advance figure. CIBC said the 0.7% increase in headline sales during February missed the consensus forecast and advance estimate (0.9%), but built on a marginally upwardly revised 1.2% gain in the prior month. Core sales (ex autos and gasoline) rose by 0.6%, while overall sales volumes increased by 0.3%. On a year-over-year basis, sales volumes were up by 2.3% in February, which would represent a solid increase in per-capita terms as well given the stall in population growth seen over the past year.The advance estimate for March pointed to a "solid-looking" 0.6% increase in overall sales, although the sharp rise in gasoline prices during the month will flatten that nominal figure, CIBC adds. Goods prices rose by more than 1% after seasonal adjustment within the March CPI figures, so the advance estimate for retail sales could represent a broadly flat move, or even a slight decline, in volume terms, the bank said."Overall," CIBC said, "it appears that retail sales in Q1 have posted their best quarter for growth since before US trade tensions started to negatively impact consumer sentiment. However, with higher pump prices limiting the ability of some households to make discretionary purchases, we expect consumer spending to slow again in volume terms during Q2. That slowing in spending should limit the spread of inflationary pressures to other areas of the economy, enabling the Bank of Canada to keep interest rates on hold through 2026."Following today's release, the Desjardins Q1 GDP tracking remains broadly in line with the BoC's January MPR estimates. Desjardins continues to expect the central bank to remain on the sidelines as it waits for more clarity.National Bank said as a result of the conflict in the Middle East, households will face an erosion in purchasing power in the coming months. This, combined with a mortgage interest-payment shock and a still fragile labour market, could weigh on discretionary spending going forward, it added.In company news, Enbridge (ENB.TO) said Friday morning the Federal government approved its Sunrise natural gas pipeline expansion project in British Columbia.

S&P/TSX CompositeS&P/TSX Composite

Wire56d ago

United Rentals Q1 Beat Driven by Large Projects, Cost Cuts, UBS Says

United Rentals' (URI) Q1 beat and outlook raise were driven by strong execution on large projects and cost reductions, UBS Securities said.The company reported Q1 adjusted earnings late Wednesday of $9.71 per diluted share, up from $8.86 a year earlier. Revenue increased to $3.99 billion from $3.72 billion. United Rentals also raised its 2026 revenue outlook to between $16.9 billion and $17.4 billion, from $16.8 billion to $17.3 billion earlier.UBS said in a Thursday note that margin performance in Q1 was better than expected. Rental gross margins and general rental margins rose year over year while specialty margins remained under pressure but improved sequentially. Headwinds from repositioning costs were also significantly lower than a year earlier.Non-residential construction spending is expected to accelerate in the second half of the year, driving EBITDA growth. However, UBS noted there could still be project-related variability later in the year.The firm reiterated its buy rating on United Rentals and a $1,205 price target.Price: $972.20, Change: $-14.58, Percent Change: -1.48%

$URI

Wire56d ago

Keurig Dr Pepper Delivers Solid Quarter to Start 2026, RBC Says

Keurig Dr Pepper (KDP) reported strong Q1 results to start 2026,with US Refreshment Beverage as the standout segment, RBC Capital Markets said in a Friday note."Fundamentals remain solid and the business is progressing in-line with mgmt's plans," the report said.After closing its acquisition of JDE Peet on April 1, the firm still targets operational readiness for the coffee business separation by the end of 2026, with official separation likely to happen in early 2027, the report said."We continue to believe that the stock is undervalued," the note said. RBC kept its $42 price target and outperform rating.Price: $28.91, Change: $+0.38, Percent Change: +1.33%

$KDP

International56d ago

St. Louis Fed US Q1 GDP Nowcast Estimate 2.442% Gain vs Previous 2.274% Gain

Wire56d ago

Getty Realty's Tenant Base 'Healthy' Despite Higher Energy Prices, RBC Says

Getty Realty's (GTY) tenant base remains "healthy" amid higher energy prices, and the company looks funded on the equity side into 2027, RBC Capital Markets analysts said in a Friday note.The company noted that fuel-exposed tenants have largely managed to hold fuel margins despite rising gas prices, with any lost margins likely to be recovered once oil prices drop, the analysts said.RBC said the company reported "solid" Q1 financial results, with its adjusted funds from operations per share beating expectations.The analysts said that Getty has about $125 million in investments under contract and that the pipeline continues to lean more towards development funding, but noted that more traditional sale-leaseback acquisitions are included as well.RBC retained a sector perform rating on the stock and increased its price target to $35 from $33.Price: $34.15, Change: $+0.39, Percent Change: +1.16%

$GTY

Wire56d ago

Restaurant Stocks Trail Market Amid Soft Demand, Early Q2 Volatility, BofA Says

Restaurant stocks are trailing the broader market as Q2 gets underway, with rising gasoline prices and softer demand weighing on the group, BofA Securities said Friday in a report.Same-store sales improved in Q1 despite adverse weather, while early April trends are difficult to interpret because Easter fell earlier this year, typically slowing restaurant traffic, the report said.Higher fuel costs are squeezing budgets and margins after investors had expected stronger spending helped by tax refunds, BofA said. Restaurants showing steady customer traffic and clear earnings momentum should stand out, the report said.In coverage of 19 companies, BofA cut its price target on Chipotle Mexican Grill (CMG) stock to $50 from $53, citing adjustments to its long-term earnings model tied to recent stock volatility. The company remains a strong brand with meaningful long-term earnings potential, the report said.BofA raised its price target on Starbucks (SBUX) stock to $130 from $120. The coffee chain is working to improve store operations and customer service, and these efforts could help stabilize results and support a recovery as the year progresses, the report said.BofA boosted its price target on Restaurant Brands International (QSR) stock to $74 from $63, pointing to improvements across its major chains. Better marketing and store upgrades, particularly at Burger King, may help drive steadier sales, the report said.Chipotle shares rose 0.5% in Friday trading, Starbucks fell 0.6%, and Restaurant Brands eased 0.1%.Price: $34.10, Change: $+0.20, Percent Change: +0.58%

$CMG$QSR$SBUX

Commodities56d ago

US Sets Anti-Dumping Duties on Solar Imports from Asian Countries, RBC Says

The US issued preliminary anti-dumping determinations on crystalline silicon photovoltaic imports from Laos, Indonesia, and India, imposing steep tariff rates that could reshape trade flows in the solar supply chain and bolster domestic manufacturers, RBC Capital Markets strategists said on Friday.RBC analysts said the US Department of Commerce set weighted-average dumping margins at 123.04% for India, 35.17% for Indonesia, and 22.46% for Laos.The ruling follows earlier preliminary countervailing duty findings in late February, which identified subsidy rates ranging from about 80% to 126%.Together, the anti-dumping and countervailing duty cases raise the potential cost of imports from the three countries, which, despite recent tariff measures that have already curbed volumes, still account for over 80% of US solar panel imports.RBC said the move could be supportive for First Solar, given reduced competitive pressure from Southeast Asian and Indian module suppliers if the duties are finalized at similar levels.The Department's final determinations are due no later than September 5, 2026. Following that, the US International Trade Commission will issue its final injury determination about 45 days later.However, RBC analysts said the case remains subject to change as the Department proceeds with verification and final margin calculations, but the preliminary findings signal sustained regulatory pressure on key offshore solar supply hubs.

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Mining & Metals56d ago

TSX Flat at Midday With Most Sectors Higher

S&P/TSX CompositeS&P/TSX Composite