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Market Chatter: Amazon, Ares Set for Big Windfall From X-Energy IPO

Ares Management (ARES), Amazon (AMZN) and Ken Griffin are set to score large gains from X-Energy's (XE) initial public offering, which is expected to take place Friday at a valuation of over $9 billion, The Wall Street Journal reported, citing people familiar with the matter.Griffin is poised to register paper gains of about $300 million on a $100 million investment he made about 18 months ago, the people told the media outlet. Ares, which invested over $160 million in X-Energy, is set to make over four times that amount, other people familiar with the matter reportedly said. Amazon owns close to 20% of the nuclear and fuel company, the report said.Ares, Amazon and Griffin 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: $259.77, Change: $+4.69, Percent Change: +1.84%

$AMZN$ARES$XE

Oil & Energy56d ago

Dated Brent-Futures Spread Above $25/bbl Signals Prompt Tightness, Steep Backwardation, EIA Says

Dated Brent crude spot prices surged to a premium of over $25 per barrel over the futures contract in early April, signaling acute short-term supply tightness amid ongoing flow disruptions in the Strait of Hormuz, the Energy Information Administration said in a Friday note."High Brent backwardation along the lines of what we've seen in recent weeks likely reflects extreme market tightness in the very short term since the closure of the Strait of Hormuz," according to the note.The premium marks a widening of the spread between spot and futures prices, and points to acute strain in prompt supply as buyers scramble to secure immediate cargoes.Spot prices, which reflect immediate delivery of crude, have reacted sharply to the disruption in the Hormuz, while futures contracts, which price oil for delivery in coming months and therefore embed expectations of easing supply constraints over time, have reacted less sharply.Brent crude oil prices refer to a basket of North Sea crude grades, such as Brent, Forties, Oseberg, Ekofisk, and Troll, which is also known as BFOET.Gradual output declines of these crude oil grades led most Brent price assessments to devise methods to incorporate the US West Texas Intermediate crude, priced at Midland, into the basket of Brent crude oil grades in 2023, according to the EIA.Futures contracts for Brent, traded on the Intercontinental Exchange (ICE), remain the most liquid and widely referenced measure of Brent prices among financial and physical market participants.The EIA said the front-month contract, currently representing June delivery during April trading, serves as the primary hedging and pricing tool, even as it diverges from spot-market dynamics during periods of acute disruption.Dated Brent, in contrast, reflects physical cargoes loading from North Sea terminals, and is assessed by pricing agencies including S&P Platts, Argus and Reuters."As they are purchased, these crude oil volumes are then shipped by the buyer to a port facility where they can be transported to a crude oil refinery for processing into finished products," according to the EIA.The Brent futures markets trade in backwardation under typical conditions, reflecting "the spread between the Dated Brent spot price and the front-month Brent futures price is narrow and tends to be positive."This indicates that a barrel of crude for prompt delivery is priced higher than a barrel for delivery two months into the future."Typically, both prices move together on similar news and market developments," the EIA said.Price: $156.43, Change: $-1.05, Percent Change: -0.67%

$ICE

Wire56d ago

Susquehanna Adjusts United Parcel Service Price Target to $116 From $114, Maintains Neutral Rating

United Parcel Service (UPS) has an average rating of overweight and mean price target of $113.24, 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: $106.63, Change: $-1.09, Percent Change: -1.01%

$UPS

Wire56d ago

Morgan Stanley Adjusts Price Target on Align Technology to $188 From $169, Maintains Equalweight Rating

Align Technology (ALGN) has an average rating of overweight and mean price target of $205.85, 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: $187.77, Change: $-2.90, Percent Change: -1.52%

$ALGN

Wire56d ago

Citigroup Adjusts Westinghouse Air Brake Technologies Price Target to $313 From $292, Maintains Buy Rating

Westinghouse Air Brake Technologies (WAB) has an average rating of overweight and mean price target of $299, 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: $267.23, Change: $-2.22, Percent Change: -0.82%

$WAB

Wire56d ago

Morgan Stanley Adjusts Price Target on Henry Schein to $64 From $61, Maintains Underweight Rating

Henry Schein (HSIC) has an average rating of overweight and mean price target of $90.21, 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: $76.88, Change: $-1.34, Percent Change: -1.71%

$HSIC

Wire56d ago

BofA Adjusts Price Target on Yum! Brands to $183 From $178

Yum! Brands (YUM) has an average rating of overweight and mean price target of $173.04, 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: $159.16, Change: $-1.57, Percent Change: -0.98%

$YUM

Wire56d ago

Barclays Adjusts Hartford Insurance Group Price Target to $156 From $159, Maintains Overweight Rating

Hartford Insurance Group (HIG) has an average rating of overweight and mean price target of $150.81, 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: $138.08, Change: $-1.53, Percent Change: -1.10%

$HIG

Wire56d ago

Barclays Adjusts Principal Financial Group PT to $87 From $85, Maintains Underweight Rating

Principal Financial Group (PFG) has an average rating of Hold and mean price target of $94.25, 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: $100.34, Change: $+3.34, Percent Change: +3.44%

$PFG

Wire56d ago

Barclays Adjusts Teledyne Technologies PT to $614 From $603, Maintains Equal Weight Rating

Teledyne Technologies (TDY) has an average rating of overweight and mean price target of $729.08, 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: $638.46, Change: $-13.30, Percent Change: -2.04%

$TDY

Wire56d ago

Morgan Stanley Adjusts Price Target on Otis Worldwide to $88 From $96, Maintains Equalweight Rating

Otis Worldwide (OTIS) has an average rating of overweight and mean price target of $94.38, 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: $78.67, Change: $-0.82, Percent Change: -1.03%

$OTIS

International56d ago

Kansas City Fed April Services Index Falls to 3 Vs. 10 Expected, 15 Prior

Wire56d ago

BofA Adjusts Price Target on Wingstop to $293 From $356

Wingstop (WING) has an average rating of overweight and mean price target of $280.83, 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: $187.27, Change: $+0.52, Percent Change: +0.28%

$WING

Treasury56d ago

Update: Pirro Orders Office to Close Powell Investigation

(Update with the Federal Reserve's response to a request for comment.)US Attorney General for DC Jeanine Pirro said Friday on X that she has ordered her office to close its investigation into Federal Reserve Chair Jerome Powell.The Inspector General for the Federal Reserve has been asked to scrutinize cost overruns related to building construction, Pirro said."The IG has the authority to hold the Federal Reserve accountable to American taxpayers," Pirro said. "I expect a comprehensive report in short order and am confident the outcome will assist in resolving, once and for all, the questions that led this office to issue subpoenas."The Federal Reserve declined to comment to.

Wire56d ago

Freeport-McMoRan Facing Reduced Output in Indonesia Mine, Morgan Stanley Says

Freeport-McMoRan (FCX) is facing a slower production ramp-up and a temporary increase in costs at its Grasberg Block Cave mine in Indonesia, which may weigh on the company's shares, Morgan Stanley said in a note Friday.The investment bank noted, however, that the long-term prospects of the Indonesian mine remain unchanged.Morgan Stanley updated its estimates for the company following its Q1 results and now expects EBITDA of $2.44 billion in Q2, up 11% versus the previous forecast, $11.37 billion in 2026, down 10%, and $14.69 billion in 2027, down 13%, as well as $16.04 billion in 2028, a decrease of 3%.The investment firm said its EBITDA forecasts for 2026 to 2028 are 14% to 20% below the Visible Alpha consensus estimates.Morgan Stanley downgraded Freeport-McMoRan to equal-weight from overweight and cut the price target to $66 from $70.Freeport-McMoRan shares were up 0.6% in Friday trading.Price: $61.67, Change: $+0.19, Percent Change: +0.31%

$FCX

Wire56d ago

Refining Margins Unlikely to Return to Pre-Conflict Levels Anytime Soon, Morgan Stanley Says

Refining margins are unlikely to return to pre-conflict levels anytime soon, even if the Strait of Hormuz reopens, due to refinery damage, the time required to normalize trade flows, and the need to rebuild inventories, Morgan Stanley analysts said in a Friday note to clients.Analysts said first-quarter financial results for refining companies will be pressured by lower capture rates amid still-tight crude differentials, planned and unplanned maintenance, and derivative headwinds, partially offset by stronger secondary products.Morgan Stanley said near-term U.S. refining margins have roughly doubled since the start of the Iran conflict and now sit near levels last reached in 2022 and 2023.On Phillips 66 (PSX), analysts upgraded the stock to overweight from equal-weight.They said the chemicals business is a key factor that sets the company apart from the rest of the sector, with earnings from the segment expected to rise to about $1.1 billion from $352 million. They also raised the price target to $174 from $147.Morgan Stanley retained an overweight rating on Marathon Petroleum (MPC) and raised its price target to $233 from $200. It also maintained an overweight rating on HF Sinclair (DINO) and increased its price target to $66 from $57.On Valero Energy (VLO), Morgan Stanley maintained an equal-weight rating and raised the price target to $222 from $182. It also maintained an equal-weight rating on Delek US Holdings (DK) and raised its price target to $40 from $38.On PBF Energy (PBF), Morgan Stanley maintained an underweight rating and raised the price target to $34 from $27.Price: $224.00, Change: $+2.90, Percent Change: +1.31%

$DINO$DK$MPC$PBF$PSX$VLO

Wire56d ago

Ares, Amazon Set for Big Windfall From X-Energy IPO, The Wall Street Journal Reports

$AMZN$ARES

Mining & Metals56d ago

xTAO Completes Infrastructure Upgrade and Validator Optimization

xTAO (XTAO-U.V) ), a publicly traded technology company focused on building infrastructure for Bittensor and its decentralized AI ecosystem, completed an infrastructure upgrade and validator optimization initiative for its validator on the Bittensor network, the company said on Friday."This upgrade enhances the reliability and efficiency of xTAO's operations, ensuring the validator remains at the forefront of the decentralized AI revolution," said the company.The company's shares last traded April 23, closing at US$0.61 on the TSX Venture Exchange.

$XTAO-U.V

Mining & Metals56d ago

Allied Critical Metals up 7% as Secures US$40 Million Financing

Allied Critical Metals (ACM.CN) is raising US$25 million through a private placement of shares along with US$15 million in project financing, the company said on Friday.The private placement, with an existing investor and a new one, will consist of shares priced at $2.05. The current investor will back-stop the entire offering with the first tranche of US$10 million closing immediately, and the remaining US$15 million of the offering closing by July 17.The current investor will also provide Allied with US$15 million for the Villa Verde pilot project, and has sealed an off-take agreement for 50% of the tungsten concentrates produced for a minimum US$1,000 per metric tonne unit (MTU) for 2026. Tungsten is currently above US$3,000/MTU, the company said. Allied Critical is targeting the fourth quarter of this year for first tungsten concentrate production from the plant.Proceeds from the private placement will be used to develop the Borralha Tungsten Project in Portugal and develop the Villa Verde plant, a statement added."We are pleased to announce that we have entered into a transformative financing package that will not only fast-track our production of tungsten concentrates but also solidify our balance sheet. The Pilot Plant at Vila Verde is on track this year to bring online tungsten concentrates to a global market that is starved for the metal," said chief executive Roy Bonnell."Securing two strategic investors validates our strategy of fast-tracking tungsten concentrate production and enables us to be fully funded until the mine construction of the Borralha Tungsten Project, both of which are significant milestones for our company."Allied Critical shares were last seen up $0.14, to $2.08, on the Canadian Securities Exchange.Price: $2.09, Change: $+0.15, Percent Change: +7.73%

$ACM.CN

Wire56d ago

BofA Adjusts Price Target on Wendy's to $7 From $8

Wendy's (WEN) has an average rating of hold and mean price target of $7.88, 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: $6.95, Change: $+0.02, Percent Change: +0.29%

$WEN

Showing 34601-34620 of 43910

Oil & Energy56d ago

Dated Brent-Futures Spread Above $25/bbl Signals Prompt Tightness, Steep Backwardation, EIA Says

$ICE