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Edgewise Therapeutics Faces Near-Term Upside From Cytokinetics' Upcoming Readout, RBC Says

Edgewise Therapeutics (EWTX) faces near-term upside opportunity with Cytokinetics' (CYTK) upcoming readout from its Acacia trial, RBC Capital Markets said in a note Friday.The brokerage said that regardless of Cytokinetics' trial data, there may be positive readthroughs for Edgewise's EDG-7500 candidate, driving about 10% upside.A positive result from the Acacia readout would validate drugs for non-obstructive hypertrophic cardiomyopathy and suggest that development of iterative drugs like EDG-7500 can progressively drive better benefits, while an Acacia miss could mean a potentially uncontested market, according to the note.Follow-up data from Edgewise's Cirrus trial also has the potential to drive an about 10% upside, creating a "nice" catalyst path in Q2, while the company's Grand Canyon trial results could be the stock's largest catalyst this year, the brokerage said.RBC has an outperform, speculative risk rating on the stock, with a $50 price target.Price: $31.51, Change: $+0.28, Percent Change: +0.90%

$CYTK$EWTX

Wire56d ago

Union Pacific's Sustainable Underlying Operating Metrics in Q1 to Drive Upside to Guidance, RBC Says

Union Pacific (UNP) showcased robust underlying operating metrics in Q1, which are sustainable and could complement better volume outlook to drive further upside to guidance, RBC Capital Markets said in a research report emailed Friday.While deal expectations will be a factor influencing share performance, construction was added as a new growth driver while automotive moved to neutral from negative amid a potentially improving freight environment, analysts wrote.Q1 earnings beat was driven by volume and margin trends, while inline revenue could be attributed to core pricing gains and higher fuel surcharge revenue, according to the note.The brokerage said it maintained its outperform rating on the stock and boosted its price target to $289 per share from $273.Price: $272.04, Change: $+0.78, Percent Change: +0.29%

$UNP

Wire56d ago

Market Chatter: Google Plans Anthropic Investment of Up to $40 Billion

Alphabet's (GOOGL) Google is planning to invest $10 billion in Amazon-backed (AMZN) Anthropic with the possibility of an additional $30 billion, Bloomberg reported, citing a statement from Anthropic.Google has committed to investing $10 billion now at a $350 billion valuation, and could invest an extra $30 billion if Anthropic hits performance targets, the report said, citing the company.Google and Anthropic didn't immediately reply to requests for comment from.(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: $344.49, Change: $+5.60, Percent Change: +1.65%

$AMZN$GOOG$GOOGL

Mining & Metals56d ago

UBS Expects "Solid" Fiscal Q4 Earnings From Aritzia

UBS expects Aritzia (ATZ.TO) to report solid fiscal fourth-quarter earnings on May 7, and is forecasting a $0.08 earnings beat.The analyst, who is maintaining a buy rating and $168.00 price target on the shares, expects Aritzia to maintain robust momentum during the quarter, and to provide strong first quarter guidance."Despite this momentum, we believe ATZ will assume a conservative approach to its initial FY27 outlook and guide sales growth in-line with its +15-17% 5-yr. algorithm. We think the market is aware of this dynamic and thus doubt this cautiousness causes investors to change their LT fundamental views on the stock."UBS expects Aritzia's stock to outperform over the near-to-medium term.Price: $143.29, Change: $+2.06, Percent Change: +1.46%

$ATZ.TO

Wire56d ago

Lockheed Martin Q1 Earnings Miss Estimates on Cost Overruns, Profit Shortfall, RBC Says

Lockheed Martin (LMT) reported Q1 earnings that fell short of Wall Street expectations, fueled by persistent cost overruns and a significant miss in operating profit, RBC Capital Markets said in a report Friday.Diluted earnings per share of $6.44 missed estimates and revenue of $18 billion was flat and slightly below consensus, while bookings were weak at 0.6x, RBC said.RBC highlighted broader "negative" estimate-at-completion adjustments across multiple programs, including $125 million on the F-16, $55 million on the C-130, and about $50 million in the Rotary and Mission Systems segment, mainly tied to the CH-53K and Seahawk. The firm said "continued EAC headwinds" is decreasing investor confidence following "recent charges" in classified aeronautics and missiles programs, according to the report.Lockheed Martin maintained its 2026 guidance, implying about 6.4% revenue growth for the remainder of the year and improved segment margins of around 11.1% from the Q2 through Q4. The outlook also suggests roughly $7 billion in free cash flow for the rest of the year, though the firm said execution remains a key "watch item."RBC maintained its sector perform rating on Lockheed Martin and lowered its price target to $575 from $650, citing ongoing execution risks across much of the portfolio despite stronger prospects in the missiles business.Price: $511.38, Change: $-18.41, Percent Change: -3.47%

$LMT

Asia Markets56d ago

Swiss Equities Close Week Downbeat; Novartis, Kuehne+Nagel in Red

Swiss equities slipped back into negative territory, with the Swiss Market Index down 0.59% on Friday's close, as investors digest a slew of corporate releases and trading updates.Buildings materials company Holcim (HOLN.SW), logistics group Kuehne+Nagel (KNIN.SW), instrumentation company Inficon (IFCN.SW), and contract development and manufacturing organization Siegfried Holding (SFZN.SW) were among Switzerland-listed companies that reported financial results.Kuehne+Nagel reported a year-over-year drop in first-quarter earnings to 248 million francs from 303 million francs, while net turnover fell to 5.60 billion francs from 6.33 billion francs. The results were impacted by cost-saving measures and sea logistics disruptions caused by the conflict in the Middle East. The stock was down 4.30% at the end of the trading day.Meanwhile, Novartis (NOVN.SW) secured a positive recommendation from the European Medicines Agency's Committee for Medicinal Products for Human Use for the approval of Itvisma for treating 5q spinal muscular atrophy in patients aged two and above.The Swiss drugmaker also withdrew its EMA type 2 variation application for Pluvicto to expand the indication to include treating adults with prostate-specific membrane antigen-positive metastatic castration-resistant prostate cancer in pre-chemotherapy following the committee's feedback. Novartis shares closed 4.30% lower.On the macroeconomic front, Swiss National Bank (SNBN.SW) Governing Board Chairman Martin Schlegel expects Swiss economic growth to be "rather subdued" in the short term before seeing an upturn over the medium term "to some extent" amid "significantly" increased uncertainty arising from the Middle East conflict. In terms of inflation, the SNB forecasts it will further increase in the coming quarters, mainly driven by higher energy prices.

^SSMI$HOLN.SW$IFCN.SW$KNIN.SW$NOVN.SW$SFZN.SW$SNBN.SW

Wire56d ago

National Bank Financial Adjusts Price Target on Newmont to $140 From $130, Maintains Sector Perform Rating

Newmont (NEM) has an average rating of overweight and mean price target of $145.22, 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: $118.68, Change: $+7.62, Percent Change: +6.86%

$NEM

Research56d ago

Research Alert: CFRA Maintains Hold Opinion On Shares Of Lockheed Martin Corporation

CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:We decrease our 12-month target by $106 to $564, or 18.5x our 2027 EPS estimate, above LMT's three-year avg. fwd P/E of 17.9x but below peers' avg. of 23.5x. Following the disappointing Q1 results, we trim our EPS estimates: 2026 to $29.05 from $30.08 and 2027 to $30.50 from $31.92. While LMT reaffirmed full-year guidance and maintains a record $186B backlog, execution headwinds are mounting. Aeronautics posted a 140 bps operating margin decline on unfavorable F-16 charges ($125M) and persistent C-130 integration issues ($55M). Classified program risks remain elevated despite no Q1 charges. Cash flow deteriorated sharply with Q1 usage of $291M versus $955M generation last year due to working capital timing and ERP system implementation issues. We see margin pressure persisting through mid-2026 as production ramp investments weigh on near-term profitability. Capex guidance of $2.5B-$2.8B reflects aggressive capacity expansion that may pressure returns if multi-year munitions agreements face political uncertainty.

$LMT

Wire56d ago

Mondelez International Faces Near-Term Headwinds Amid Demand Concerns, RBC Says

Mondelez International (MDLZ) is facing challenges in developed markets and an increasing threat to demand from the Middle East conflict, leading to a more cautious near-term outlook, RBC Capital Markets said Friday in a preview of the company's Q1 results.The company has "relatively high exposure" to the Middle East conflict on both input costs and top line as it sells directly in the region. Mondelez may see potential boycotts of US products in the Middle East region as well as "reduced mobility elsewhere around the world due to energy shortages," the note said.In the US, scanner data is up 1.6% quarter to date, which is about 80 basis points better sequentially, but roughly 60 basis points worse on an underlying two-year average basis.Cookies, the company's largest category with about 45% of US sales, are still seeing volume declines, RBC said, adding that in the US, Mondelez is also facing "significant competitive pressure" from smaller peers, especially in the bars segment.RBC noted it is "modestly below" consensus estimates on the company's top line.Meanwhile, commodity costs remain a challenge, though the company's approach to hedging is more sophisticated than most of its peers, and the worst may be largely behind Mondelez as cocoa prices have declined, the investment firm said.RBC has an outperform rating on Mondelez and a $63 price target.Price: $57.68, Change: $-0.04, Percent Change: -0.06%

$MDLZ

Wire56d ago

Roper Technologies Delivering Modest Beat and Raise With Aggressive Buybacks and Strong Capital Flexibility, RBC Says

Roper Technologies (ROP) delivered a modest Q1 earnings beat driven mainly by improved Application Software margins, alongside a guidance raise that reflects management's confidence in its software portfolio and its accelerating AI commercialization, RBC Capital said in a Thursday note.Management is increasingly focusing on AI-driven product commercialization across its vertical software portfolio, though many initiatives remain early stage, and noted strong underlying execution with organic growth above expectations, according to the report.Roper repurchased about 4% of its float, or roughly $1.5 billion, in the quarter and later added $3 billion to its buyback program, which RBC said signals confidence in cash generation and valuation, with about $5 billion in total capital available for M&A and further repurchases.RBC said Roper's diversified software portfolio remains resilient, with Application Software and Network Software growing in the mid-single digits and Technology Enabled Products outperforming expectations, reinforcing its view of the company as a strong capital allocator with flexibility for buybacks and disciplined acquisitions.RBC maintained its sector perform rating on the stock and raised its price target to $407 from $393.Shares of Roper Technologies were down 3.1% in Friday trading.Price: $354.00, Change: $-9.76, Percent Change: -2.68%

$ROP

Asia Markets56d ago

Germany's DAX Index Retreats; SAP Surges on Higher Q1 Earnings

Germany's blue-chip DAX index closed Friday lower by 0.11%, as investors weighed the stalled US-Iran peace talks against the latest round of corporate earnings and trading updates.As the Strait of Hormuz remains closed, tensions linger between Washington and Tehran, with no signs of further talks on the horizon. US President Donald Trump said he is willing to wait for an "everlasting" peace deal, even as he authorized the US Navy to fire on mine-laying boats in the embattled waterway.Against this backdrop, the ifo Institute's business climate indicator fell to 84.4 points in April 2026 from the revised 86.3 points earlier, below the consensus estimate of 85.7 points on Investing.com. The latest reading marked the index's lowest level since May 2020, with both the current situation index and expectations indicator falling from a month ago and missing market expectations."The war in the Middle East and soaring energy prices have again exposed the fact that Germany is one of Europe's largest net importers of energy. ... With the war in the Middle East now gradually shifting from a pure energy price shock towards an energy supply and broader supply chain shock, the German economy is once again at the centre of an exogenous, global, disruption," ING said. "All of this said, even if sentiment is suffering enormous setbacks right now and fears of another year of stagnation have returned, it should be clear that the planned investments in defence and infrastructure are still on track and should support the economy this year and beyond. The fiscal impulse is real, it just needs time to reach the real economy."On the corporate front, SAP (SAP.F) gained 4.68%, rising to the top of the blue-chip index, after reporting an increase in first-quarter earnings on robust cloud business performance, with total revenue up 6% year over year to 9.56 billion euros. The German software company maintained its full-year 2026 forecasts, including 23% to 25% cloud revenue growth at constant currencies, while noting the outlook remains contingent on the de-escalation of the Middle East conflict.Meanwhile, BofA Global Research upgraded its price objective and earnings estimates for Siemens Energy (ENR.F) to account for the company's revised fiscal 2026 outlook. The German energy company now projects revenue growth between 14% and 16%, improving upon its previous 11% to 13% estimate, among others."We raise our 2026/27 adj EBITA estimates 8/12% after ENR's guide upgrade yesterday (+10/16% vs consensus) and lift our [free cash flow] estimates 40/11% too (+42/37% vs consensus). As a result, we raise our [price objective] to EUR250 from EUR220. Reiterate Buy," the research firm wrote. Siemens Energy was up 2.64% at the end of the last trading day of the week.

^DAX$ENR.F$SAP.F

Research56d ago

Teck Resources Maintained at Hold at Stifel Canada Following Q1 Results; Price Target Kept at C$80.00

Stifel Canada on Friday reiterated its hold rating on the shares of Teck Resources (TECK-B.TO) and its C$80.00 price target following the miner's first-quarter results."Teck reported strong Q1/26 adjusted FD EPS of $1.75 vs. our $1.02 estimate (consensus: $1.12) and adjusted EBITDA of $2,088Mln vs. our $1,577Mln forecast (consensus: $1,544Mln) driven by higher copper sales with sales exceeding production due to shipment of inventory carried over from Q4/25, higher throughput and grades at HVC, and higher grades at Antamina as expected in the mine plan. Q1/26 also benefited from better performance at Trail (gross profit $257Mln vs. our $153Mln) from elevated silver, gold and specialty metals pricing. With every US$1/Bbl change in WTI impacting EBITDA by $8Mln, we estimate a $280Mln or 5% EBITDA impact at US$100/Bbl in 2026. Teck does not currently see significant risk of fuel supply disruption, though there could be an amplified impact on costs on Chilean operations due to the requirement for diesel imports," analyst Raplh Profiti 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: $83.34, Change: $+0.03, Percent Change: +0.04%

$TECK-B.TO

Wire56d ago

GATX Maintains Quarterly Dividend at $0.66 a Share, Payable June 30 to Shareholders of Record on June 15

$GATX

US Markets56d ago

Consumer Sentiment at Record Low Despite Upward Revision

US consumer sentiment improved from an initial April estimate, but remained at a record low as near-term inflation expectations logged the biggest monthly increase in a year, final University of Michigan survey results showed Friday.The main sentiment index fell 6.6% to 49.8 from last month. The consensus in a Bloomberg-compiled poll expected the April reading to be revised to 48.5 from the preliminary estimate of 47.6.The index remained at an all-time low despite the upward revision, Jefferies said in a note."The Iran conflict appears to influence consumer views primarily through shocks to gasoline and potentially other prices," Surveys of Consumers Director Joanne Hsu said. "In contrast, military and diplomatic developments that do not lift supply constraints or lower energy prices are unlikely to buoy consumers."The year-ahead inflation outlook jumped to 4.7% this month from 3.8% in March, marking the biggest one-month gain since April, the University of Michigan survey showed. The five-year inflation projection climbed up to 3.5%, the highest since October, from 3.2% a month ago.Energy prices have surged in the aftermath of the US-Israel war with Iran that has disrupted shipments through the Strait of Hormuz. President Donald Trump extended a ceasefire with Iran earlier in the week, though he said the naval blockade of Iranian ports would continue.A quarter-long closure of the crucial Strait of Hormuz will likely push US inflation higher by 0.6 percentage points this year, researchers at the Federal Reserve Bank of Dallas said last week.The gauge for current economic conditions fell to 52.5 in April from 55.8 in March, while the expectations measure declined 7% to 48.1, the University of Michigan reported."Decreases in sentiment were seen across political party, income, age, and education," Hsu said. "Expected business conditions declined for both short and long time horizons, nearly matching year-ago readings when the reciprocal tariff regime was implemented."

Asia Markets56d ago

UK's FTSE 100 Extends Losing Streak; Sainsbury's Shares Up

British stocks extended their losses to a fifth day, with the FTSE 100 down 0.75% on Friday's close, amid fresh tariff threats and continued geopolitical uncertainty arising from the Middle East conflict.US President Donald Trump told The Telegraph that he is looking at "putting a big tariff on the UK" if British Prime Minister Keir Starmer does not drop the digital service tax, which is aimed at Apple, Meta and other major technology companies.On the economic front, the UK's retail sales volumes rose 0.7% on a monthly basis in March, following a revised 0.6% decline in February, according to data from the Office for National Statistics. Annually, retail sales volumes increased 1.7%, against the revised 1.8% gain earlier.In corporate news, Bernstein lowered its price target for J Sainsbury (SBRY.L), d/b/a Sainsbury's, to 3.40 pounds sterling from 3.50 pounds, with the stock rated market-perform, following the British grocery retailer's broadly in-line fiscal 2026 results. The stock closed the trading session 1.29% in the green."The challenge for Sainsbury's is that 6 years into the CEO's tenure, margins have gone backwards over the last few years (c. >-30bps) and could soften further into next year. This is despite a well-defined and well executed strategy to put Food First, playing out in market share gains, grocery volume growth, improved pricing, and improved FCF," the research firm said. "However, this successful commercial turnaround is continuously hampered by Argos, cost pressure, macro weakness & competitive pressures, and does not seem to be able to feed into higher margins or a greater share of the profit pool."Meanwhile, aerospace and defense companies Babcock International Group (BAB.L) and BAE Systems (BA.L) were among the blue-chip index's top fallers, losing 4.60% and 2.86%, respectively, at closing.

FTSE 100$BA.L$BAB.L$SBRY.L

Japan56d ago

US Equity Indexes Mixed Amid Tech Gains, Iran Peace Talks Speculation

US equity indexes traded mixed as Intel's (INTC) blowout Q1 results lifted technology, and crude oil futures retreated following reports that Iran's Foreign Minister Abbas Araghchi will arrive in Pakistan late Friday for peace talks.The Nasdaq Composite jumped 1% to 24,689.1, with the S&P 500 up 0.4% to 7,139.9, with semiconductor manufacturers among the top gainers. The Dow Jones Industrial Average, however, declined 0.4% to 49,141.5.Intel shares rose 24%, the top gainer on the S&P 500 and the Nasdaq, after the company reported higher fiscal Q1 adjusted earnings and revenue. The chipmaker issued a fiscal Q2 outlook above market expectations. Nvidia (NVDA), Advanced Micro Devices (AMD), and Arm Holdings (ARM) were among the leaders across both indexes.Araghchi, the main mediator between Tehran and Washington, is set to arrive in Islamabad with a small delegation, Pakistani government sources and an Iranian source told CNN.Pakistani mediators expect a second round of talks between the US and Iran, government sources told the news agency. A US logistics and security team is present in Islamabad to facilitate the negotiation process, according to the sources.West Texas Intermediate crude oil futures fell 0.3% to $95.55, while Brent crude futures rose 0.6% to $105.72 after midday. Both WTI and Brent rose more than 1.5% each earlier in the session.Separately, the Justice Department is closing a probe relating to cost overruns at the Federal Reserve, US Attorney Jeanine Pirro was cited as saying Friday in multiple news reports.

Dow JonesNasdaq CompositeS&P 500$AMD$ARM$INTC$NVDA

Wire56d ago

Google Plans Anthropic Investment of Up to $40 Billion, Bloomberg Reports

$AMZN$GOOG$GOOGL

Wire56d ago

Damora Faces Upside As Fast-Follower CALR 'Should Make Bigger Splash,' RBC Says

Damora Therapeutics (DMRA) is capitalizing on growing validation of using mutant calreticulin targeting therapies in myeloproliferative neoplasms, and may have the additional advantage of acharted regulatory path as a fast-follower over Incyte's (INCY) mid-stage candidate, RBC Capital said in a note emailed Friday.RBC said data from Incyte's (INCY) CALR antibody program have helped reduce uncertainty around the mechanism, strengthening confidence in its potential for treating conditions such as essential thrombocythemia and myelofibrosis.Damora's lead candidate DMR-001 may offer advantages such as extended half-life via YTE technology, higher potency, and a more consistent activity profile across mutation types, potentially addressing limitations of competing therapies, according to the report.The analyst sees DMR-001 reaching about $1.7 billion in peak U.S. potential, supported by improved dosing convenience and broader applicability, with a 60% probability of success in essential thrombocythemia and 35% in myelofibrosis.The firm said it expects the company's shares to appreciate to levels reflecting its long-term top-line potential.The report added that competitive clinical readouts could help de-risk the program, with early mid-2027 data viewed as a key potential catalyst for upside.RBC initiated the coverage on the company with an outperform rating on the stock with a price target of $40.Price: $24.02, Change: $-1.40, Percent Change: -5.51%

$DMRA$INCY

Wire56d ago

Wayfair Poised for 'Strong' Q1 Results, Middle East Uncertainty Likely To Remain Overhang, RBC Says

Wayfair (W) is expected to show "strong" Q1 results, when the company reports its quarterly earnings on Thursday, while the ongoing Iran war remains an overhang on the company's stock, RBC Capital Markets said in a Friday note.RBC maintained its Q1 net sales growth estimate of 5.7%, in-line with consensus, and said that transaction and site traffic data improved throughout the quarter from the negative impact of Winter Storm Fern in late January.The company's Q1 gross margin could see some volatility from the rise of crude oil prices due to the war in the Middle East, and its expenses could rise from outsourced labor costs driven by the tech restructuring last year, according to the note.Looking at the ongoing Q2, RBC said that Wayfair's management is expected to guide top-line for the quarter in the low-single digits to mid-single digits as consumers digest category inflation and higher gas prices potentially limit discretionary sales.RBC maintained its sector perform rating with a $92 price target.Price: $78.99, Change: $+2.05, Percent Change: +2.66%

Wire56d ago

Meta's Compute Costs Likely to Limit Earnings Leverage, Oppenheimer Says

Meta Platforms (META) is expected to post strong Q1 revenue growth, but rising operating expenses may limit earnings upside, Oppenheimer said in a note Thursday."Despite a robust revenue outlook, higher compute costs will limit earnings upside, even with headcount reductions," the report said. Oppenheimer kept its perform rating for the stock.Oppenheimer analysts said they are cautious heading into Q1 results due April 29. They expect revenue growth of over 30%, in line with guidance midpoint, but about 1% below Street.While 2026 capex guidance could remain constant or be lowered or deferred, Meta is leveraging more third-party compute, driving higher operating costs, the report said.Price: $671.34, Change: $+12.19, Percent Change: +1.85%

$META

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Asia Markets56d ago

Germany's DAX Index Retreats; SAP Surges on Higher Q1 Earnings

^DAX$ENR.F$SAP.F